ninjacookies

VIB BTC Potential Decending Wedge Breakout

Long
BINANCE:VIBBTC   Viberate / Bitcoin
Vib has been consolidating for the past few weeks as it bounced off strong trendline support stemming back several months (indicated by the yellow dotted line).

It is now at another decisive point as price action meets descending wedge resistance. Will it break to the upside or down?

Volume is looking nice in this area considering this is a low profile coin.

It would be best to wait for confirmation prior to entry, but if you do enter....a stop loss is absolutely required.

A safe SL would be right under the yellow dotted trendline support at around 142-148 satoshis, depending on your risk management.

Green lines indicate potential points of interest for profit targets.

As always, BTC will most likely dictate most of the alt's fate...so these are dicey areas to trade.

This is not financial advice.

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