VET will make an inverse head & shoulders on higher timeframes with a big wave 3 and a short wave 4. After that whales will push this to a blow-off top wave 5 to confuse retailers who sold between 1-3$ to create more FOMO.
I think this one's out there but so interesting...
A cup and handle that's proved to have happened inside a much bigger cup & handle that's setting out to happen in the next bull run. Time-wise the PA must reach close to ATH this year and then it's game on.
There's so much going in the chart. The target for the cup & handle falls on the backwards 0.618 fib...
Avg: 0.0257
9;29 PM 2/9/23
Purchased above this key resistance turned to support. I could see the continuation of this pattern play out with all the technicals on Bitcoin as well as the price action between the both.
Not the ideal entry I do admit, but we’re only investing what we can afford to lose. Scared money don’t make no money.
We are facing VET broking the border of the falling wedge. For me it is a huge bullish pattern and can go up direct to the first Fibonnaci zone. All the criptos that broked the Falling Wedge are rising unstoppable.
Most timeframes showing bearish RSI Divergence, looks like the top of an impulse. Hard to say how high it will go, but hard to imagine that Vet is going to break these key levels and hold above them in the short to mid term. These levels it has recently broken(yellow box) have proven to be significant resistance and support in the past, and if/when Vet breaks...
Well, as the work week starts again and everyone returns to the office, we want to give traders on here an update on VeChain.
Back in July we announced our first position in VeChain and since then we didn’t cover this coin again. After months of relatively low price action the momentum finally returns, as many other altcoins spiked, VeChain managed to gain...
Waiting on the retest for this entry. Not too much support above, if we break down we'll manage the trade but if we trend up I think we'll see a small vol spike due to SL's.
IF $VET bottomed in Dec 2022 then fib targets for the next bullrun are as follows:
1.272 Fib = $0.61
1.414 Fib = $0.92
1.618 Fib = $1.66
Fractal from last bullrun indicates a top in early 2024 - this is highly speculative but shows what is possible
We expected a sooner breakout for Vechain to higher levels based on the charts, but instead Vechain broke down continuing the downward trend to our lower support & final support. If Vechain breaches this last resort, all hope in this project will be dead.
It appears mid-march is the area of rebirth.. or the death of Vechain. Time's ticking.
Back in Spring 2021 I said VET would see $0.01 again and since the recent slump we are nearly there!
Obviously it wasn't the most popular call when crypto was still full of dreamers high on hopium 😄.
But now it is starting to rock from this corrective area and I have begun to look at new targets.
One of these finds confluence from a 1:2.618 reverse 2 point...
The overall crypto market might be one more leg away from the ultimate bottom from a technical standpoint.
On the logarithmic scale 28% away we will reach the most likely bounce reversal point on the price chart
Short term bearish, long term bullish, always watching the macro.
Let’s have another quick look at the VET/USD 1w chart.
Here is a closer look at this 1w chart.
VeChain is still in its Descending Wedge Pattern on this 1w chart. Note that VET failed to close a weekly candle above its upper descending trend line of its Descending Wedge Pattern at around $0.0286. $0.0286 was also the previous high from Mon 23rd Jul...
VET has topped and is about to get CRUSHED in tandem with Bitcoin topping into another long bear market. First target is 0.5 fib at $0.02, but there is a good chance price will reach the 0.618, go sub $0.01 and provide a GREAT entry quite a way down the road.
