Hello guys!
As you can see in my post I have a couple of reasons for you to decouple from the VET/BTC chart and start to focus at something more interesting and most important - away from Bitcoins usual manipulation!
First of all, I would like to point out that beautiful uptrend we had the last months beginning from ~January.
1. We are building support ABOVE the 25 EMA! (green line)
That is, in my opinion, a very bullish sign.
2. We are currently building an ascending triangle which can be seen bullish or bearish depending on the outcome.
We can't predict which direction but we can say we will see a massive reaction soon as we are squeezing into old resistances at 9034. Once that resistance is broken we can confirm the end of the bear trend and the start of a new bullish trend.
3. EMA 50 (yellow line) Weekly just showed up!
This is the most interesting point the 50EMA showing up means more price action, currently above our price standing at ~8200 and acting as resistance. This can change soon as well and it could be the ultimate indication for an ending BEARISH trend once we get the 50 EMA as support.
4.
RSI 14 is moving perfectly in the drawn channel!
As you can see in my post I have a couple of reasons for you to decouple from the VET/BTC chart and start to focus at something more interesting and most important - away from Bitcoins usual manipulation!
First of all, I would like to point out that beautiful uptrend we had the last months beginning from ~January.
1. We are building support ABOVE the 25 EMA! (green line)
That is, in my opinion, a very bullish sign.
2. We are currently building an ascending triangle which can be seen bullish or bearish depending on the outcome.
We can't predict which direction but we can say we will see a massive reaction soon as we are squeezing into old resistances at 9034. Once that resistance is broken we can confirm the end of the bear trend and the start of a new bullish trend.
3. EMA 50 (yellow line) Weekly just showed up!
This is the most interesting point the 50EMA showing up means more price action, currently above our price standing at ~8200 and acting as resistance. This can change soon as well and it could be the ultimate indication for an ending BEARISH trend once we get the 50 EMA as support.
4.
RSI 14 is moving perfectly in the drawn channel!
Trade active:
IMPORTANT NOTICE:
Here is the 1W chart printed, so one candle is one week.
Don't get your emotions rolling faster than the chart prints candles.
Here is the 1W chart printed, so one candle is one week.
Don't get your emotions rolling faster than the chart prints candles.
Trade active:
Broke down from the ascending triangle, told you (big move to be expected soon)
Currently fighting to hold the RSI 14 channel. We will see what pattern will build up next
Currently fighting to hold the RSI 14 channel. We will see what pattern will build up next
KSC
