Woolhead

Observations of VTC

POLONIEX:VTCBTC   None
The 50 EMA acts like support, plus the support trend lines . The 20 EMA needs to stay above the 50 EMA for VTC to stay bullish . There is a bullish divergence , which signals VTC will go up. I think it will hit the support line one more time before going to test resistance again. However, one indicator doesn't make the market, so the other options are: falling through support and acting out option 3. Option 2 is the bounce off the current support line. Option 1 is straight to the resistance line. Option 1 is also likely due to the double bottom it recently had. However, the last big red candle seems an indication that the bears hadn't had their fill yet.

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