VET VET VeChain Long Term Trade
BTC Pair: found a local bottom on Fib extension & Building nice RSI trend
USDT Pair: Building nice uptrend, should test S/R flip and climb up if market kept acting well
potential 50-70-110% Profits
it's mid to Long Term
BTC could go either way
Holding the 382
Big notch in VPVR around the 618 fib
Potential div in histogram
Potential W in willy and OBV
If we do the a break of the 382 we will see the green zone.
We could also have a run up to 3713 to mess with the people going short
For me this is a wait and watch.
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The big resistance to the price action is almost 30-40% away from current price. Based on how alts are moving , it could possible move 40% in a day or two.
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Read other analysis below. ( Over 90 % accuracy so far)
Taking little nibbles at VET
Bottom of the range
Willy stupidly oversold
Double bottom in
OBV flattening out
Big notch in VPVR that needs filling
I have bids still at 101 sats but I will set a stop loss 5% lover of 101 sats, a break below this and it will be in no mans land.
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The mass of the average VEN/VET bag generates enough gravity to trap the cries of those 'hodlers' forever.
Stay safe out there guys, and don't forget it's all going to zero.
This is also a prime example of blood, from a purely technical PoV...
Willy stupid and heavily over sold
Bullish divergence on histogram
OBV pretty healthy
Rsi heavily oversold
VPVR very healthy and full with single distribution
Looking at the bottom of the range @ 104950
Trying out longer timeframes. Hope you guys correct me if something is incorrect, thanks.
I am trying to visualize the price action as if I were entering a position based on the data until I am confident enough to do it in the market.
I AM PERSONALLY GOING...
I spotted this divergence between price and indicators few weeks ago but i did not tried to catch the falling knive as I was not sure of the support and I putted a stop buy above the break down on 13 august.
I was very concerned about short VET after the failed break out of 22 august and a double W formation on BTC pair...
VENUSD has been strictly following the 1W Channel Down (Highs/Lows = -0.7416, B/BP = -1.5740) and 1D is now near pricing that Lower High (RSI = 48.260, ADX = 25.075, MACD = -0.096). The maximum limitation is 1.68075, which is difficult to print. We remain short with TP = 7.5154.
Both TP = 1.000 and 0.8000 have been hit, as the 1D Channel Down (MACD = -0.375, Highs/Lows = -0.5027, BBP = -0.9440) extended its Lower Low limit to 0.675. With RSI though oversold at 20.800 along with another 4 indicators, a pull back is expected towards 1.0040 or even 1.6900. That would be an ideal pricing of the Lower High. Our short TP is 0.1972.
VENUSD is trading on a 1D Channel Down (RSI = 31.035, Highs/Lows = -0.5037, B/BP = -0.6960, MACD = -0.230) that will take some time to make a clear Lower High again. Based on 4H (Williams = -94.498) there are more chances to continue its descending trend on a slow pace. Our position on VeChain is short, TP = 1.000 and 0.8000 in extension.
Not too much history/data on VET but from an Elliott Wave perspective, it could potentially be a good trade with a great Risk/Reward ratio. Clean 5 impulse waves up and ABC correction with good sub-divisions. Bullish divergence on 1hr RSI. Target #1 for a more conservative Wave 3 target.
Entry - 263-279 Sat.
Target (short term) - 288-299
Target #1 - 353