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.
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I was rapidly scrolling a the whole market a couple of days ago and my attention was caught by the bearishness of VEN in a stagnating whole market (what in this market is very atypical).
I did a very quick , to understand why and discovered that VEN is migrating on his own chain (not a so bad news).
Since ATH VEN corrected relative less and is inside this big...
Taking a look at the daily chart for VEN, we can the price hitting a support line which may be a good area to reload. The RSI indicators are showing oversold and the MACD is approaching a horizontal support line. I don't like trying to catch a falling knife, but with BTC turning more bullish I feel the alts will start to turn around as well. If the price action...
It's All in the chart: BTCUSD.
Just Entered into VENBTC.
RSI shows oversold.
When will the downtrend end, who knows, but this is a long position.
This trade VENBTC could go much lower, because its Predicated on BTCUSD.
Hence, stop loss is a must.
Swing traders: Statistics and probability are on our side.
Don't worry about being right all the time....
We see an equalisation on the previous wave. Such a great project and we didn't really see a respectful response on the main net launch. I haven't used Gan fans as I normally would (well I've deleted those) and put in indicators that give clarity to the chart. This co-insides with the ATH fib retracement level and the bounce on the previous wave.
VEN could be either in a high and tight triangular bull flag or perhaps a more downward facing flag If we can bounce off of the triangular flag channel bottom, we could have an opportunity for a buy in and a scalp. Until then we could see a fall through support.
***Any information represented here is my opinion only and not intended to be used for financial...
As with many altcoins, VeChain looks to have broken out of it's huge falling wedge, but not by much and on low volume. It is currently flirting with the top of the wedge and using that line as support. A bull flag pennant has formed on the 1hr indicating that price action is currently neutral. A break out can go either way. If it breaks down negatively, the...
Flags are short-term continuation patterns that mark a small consolidation. Symmetrical triangle, which can be referred as a coil, usually forms during a trend as acontinuation pattern. The pattern contains at least two lower highs and two higher lows.
Friends and foes, welcome to this analysis of VEN-USD.
I have analysed the daily chart of VeCHAIN with the best of my knowledge and i am posting the statistics here. Please note that i am learning TA and i am using this article as a log for my progress. This is not an investment advice. Invest your capital at your own risk.
So, without any further ado, let’s get...
On the 30th of March, VeChain found the bottom at $2.1, where it rejected the 78.6% Fibonacci support level. Price went up and broke the descending channel, reaching the $5.6 high.
The correction down followed and it seems that VEN/USD found the support at $3.28, that is the level where the descending channel has been broken. Then, on the 3rd of June VeChain...