This trade idea is for demonstration and educational purposes only. Trade at your own risk.
We see a possible teacup formation. Key things to note:
1. Price is being contained within an ascending channel.
2. Price is very well respecting the 50% fib level and using this level as dynamic support.
3. Possible makings of teacup in terms of handle formation....
Verium has found the support at $1.74, where it formed a double bottom, along with the bullish divergence on the RSI oscillator. The price went up breaking above the descending channel and the 50 Moving Average.
As VRM/USD continues to produce higher highs and higher lows, the price is likely to continue increasing. The first resistance is seen at 76.4% Fibonacci...
Naughty ascending triangle really strong formation occurring, obeying top of triangle V nicely. Supports and resistances everywhere as great safety nets.
~Looking to turn.
~Looking to bounce off resistance and hit support.
ADX + DI
~Looking to trend up generally and confirm a trend on the DI+.
~Bullish movement could increase...
Another reverse head and shoulders pattern with
a minimum upside target at 395 - really the break-out came
24 hours ago but this dip is worth staying close to today,
looking to get long as low as possible as this cureent little
consolidation phase takes place - right now this coin looks like
one of the hottest around and this recent break out...