ViteBtc Trading idea

Mar 26, 2023

As you can see from the chart, VITE/BTC has recently broken down below the trendline support. This breakdown is likely to lead the price towards our designated zone of accumulation, which is shown as a slant channel around 0.00000051. We have identified this area as a potential turning point for the pair, offering a possible buying opportunity for traders.

If the price indeed bounces from this accumulation zone, our expected target for VITE/BTC would be around 0.00000230. This represents a substantial upside potential from the current level, making it an attractive risk-reward trade setup.

However, it is crucial to consider the alternative scenario. If the price breaks down below the immediate support zone at 0.00000051, we could see a further decline towards the next support level at 0.00000012. In this case, we would recommend reassessing your trading strategy and monitoring the market for new developments.

This analysis is for informational purposes only and should not be construed as financial advice.

Jun 7, 2023

Trade active

Aug 20, 2023

Trade closed: target reached

Drop target achieved

Aug 31, 2023

Trade active

Price manage to break through our previous support zone, considering the entire market outlook, I see the drop to continue. For now we may have little retracement.

Oct 23, 2023

Trade active