Cryspo
Long

VeChain undervalued and priming for a short term breakout!

BINANCE:VETBTC   VeChain / Bitcoin
VeChain priming for breakout from a bullish falling wedge on the 1D chart. Price is right at the apex and there is bullish divergence on the 4 hour chart (see yellow arrows in pic below). RSI and stochastic are also oversold on the higher time frames. Using fibonnaci retracement, VET/BTC should first target 0.00000186 at 0.5 fib so maybe take a small partial profit at this level. I expect VET/BTC to then reach 0.00000207 at 0.618 fib and 0.00000235 at 0.768 fib.

There has been a lot of fud recently, however, VeChain have an extensive and impressive list of established partnerships and they actually have a functioning mainnet and working product so I don't believe this is just another shitcoin (https://twitter.com/DannyGriend/status/1...).

There is obviously a need for effective quality and authenticity control in global supply chain management and VeChain has actually come a long way, just look at the fundamentals. I mean the Cyprus government has just partnered with the Vechain foundation, don't think a small country would have partnered with them if VeChain were actually scammy. VeChain is considerably undervalued and the fundamentals add weight to this bullish falling wedge .

Buy at breakout

TP 1: 0.00000205

TP 2: 0.00000230


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