Traders and Investors Welcome !
First of all I appreciate your time reading my analysis and my chart.
I am very bullish on Vechain, this based on principally fundamental biases. Their recent massive cooperation with Salesforce and other merchants.
* From a technical point of view, I use the 4H chart, to see if any trend has been confirmed or not.
We see that the downtrend, starting from the swing high has been broken. (see swing low) This would indicate that the market is definitely still willing to get prices upwards. And not let the bulls take over.
* WILL PRICES GO UP OR DOWN?
It all depends (see uptrend support channel and horizontal support channel) if prices are bullish enough to continue uptrend on the uptrend support channel and work towards the resistance levels (see price note) if prices uptrend support channel doesn't keep prices bullish enough we might see prices test the horizontal support, where I imagine prices will not break that support and find enough bullish momentum.
* I see prices definitely going up thanks to the previous break in the low trend (swing low) and candlestick analysis (3 soldiers)
Where it might start to become realllyyy challenging is at the price mark. where I have drafted a possible bullish trend.
As always, thank you very much for reading, please like, follow and comment !
Rgds,
Kevin C. Best
First of all I appreciate your time reading my analysis and my chart.
I am very bullish on Vechain, this based on principally fundamental biases. Their recent massive cooperation with Salesforce and other merchants.
* From a technical point of view, I use the 4H chart, to see if any trend has been confirmed or not.
We see that the downtrend, starting from the swing high has been broken. (see swing low) This would indicate that the market is definitely still willing to get prices upwards. And not let the bulls take over.
* WILL PRICES GO UP OR DOWN?
It all depends (see uptrend support channel and horizontal support channel) if prices are bullish enough to continue uptrend on the uptrend support channel and work towards the resistance levels (see price note) if prices uptrend support channel doesn't keep prices bullish enough we might see prices test the horizontal support, where I imagine prices will not break that support and find enough bullish momentum.
* I see prices definitely going up thanks to the previous break in the low trend (swing low) and candlestick analysis (3 soldiers)
Where it might start to become realllyyy challenging is at the price mark. where I have drafted a possible bullish trend.
As always, thank you very much for reading, please like, follow and comment !
Rgds,
Kevin C. Best