VECHAIN, SCALP OPPORTUNITY or DESTINED for DOOM?
VECHAIN showing bull div on the 12 HR
Notice how we have come completely outside the developing VA, this can mean one of two things - either strong downwards movement coming, or a bounce back into the VA.
Expecting a bounce to the significant resistance level at the 0.618 fib line, which coincides with the downtrend line and the first HVN of the value area.
We need to observe the price action at this level closely to see if we will continue the bear trend, if so then we buy at the demand zone at 127 sats.
Notice how we have come completely outside the developing VA, this can mean one of two things - either strong downwards movement coming, or a bounce back into the VA.
Expecting a bounce to the significant resistance level at the 0.618 fib line, which coincides with the downtrend line and the first HVN of the value area.
We need to observe the price action at this level closely to see if we will continue the bear trend, if so then we buy at the demand zone at 127 sats.