Vechain has been in a strong bear market since the middle of 2021 and I think we've hit the bottom most part of Vechain's channel.
We had a recent huge drop wick from 0.021 down to 0.013 and then an immediate retracement back to 0.021 signifying strength and support in this area. The beginning of a bull market is exactly what I expect in these months leading up...
I think we're so close to something big happening or an altcoin season in my opinion. Ever since the Ripple lawsuit by the SEC that Xrp is now considered not a security. This cannot be reverted. No appeal is going to change that decision so literally I believe this is the beginnings of the altcoin season and we're on the verge!
Patience for a new bullrun any...
Vechain is quite undersold at the moment, although it's been forming this resistance on the way down and appears it's finally going to breakout to the upside 😀
This is finally going to turn things around for Vechain and I can't see it any other way 🚀
CHART OVERVIEW
VET/BTC - Weekly Chart - Binance
CHART DRAWINGS
On the chart are key resistance and support measured by the Fibonacci retracement. Also with the Fib circle tools, you can see where the price has found support and resistance.
ANALYSIS
Vechain has bounced out of the 0.5 Fib circle and from the 0.5 retracement line. This shows confluence towards...
ANALYSIS
On the VET/BTC we are in a potential inverse head and shoulders pattern on the daily timeframe. The final shoulder has yet to be confirmed so this pattern could fail to complete. Interesting VET has landed on a support trend line formed since early February.
TARGET
Target would be 0.00000637.
Disclaimer: Not financial advice, just amateur observation....
Vechain is going through a reducing wedge pattern on the 4hr, target would be approximately 0.15.
Let me know what you guys think, could this play out?
Please leave your comments below
Vechain(VET) Update: Test and Break above 200SMA, potential 150% Gain from Buy Zone @ 23.60% Fibs ($0.13) to the 127.20% Fibonacci level at $0.33. Please see previous analysis below. Happy Trading :)
Vechain(VET) Update 07/ 05 /21: 40% Gain from current price level to 127.20 Fibonacci extension @ $0.33. See previous analysis below
Vechain(VET) Update 27/04/21:...
