I'm fairly new to technical analysis so please feel free to critique. Leave a comment below! Let me know where you think I'm going wrong. :)
Cup and handle position on vet/usd, volume slowing down coming into the handle. Possible breakout soon? + entering the 3rd sub-wave of the larger 4th wave.
Fib numbers looking to line up nicely with larger timeframes.
VET / USD TA
We are looking short term bullish with longer term neutral.
Short term traders should keep an eye for breakout or rejection off resistance. If we see break, expect further move upward towards general target. If we do not break resistance and break down parabolic curve, we will see downtrend followed by sideways action.
VeChain / USD Short-term price analysis
VeChain has a bullish short-term bias, with the cryptocurrency holding above its 200-period moving average on the four-hour time frame.
The four-hour time frame is showing that a head and shoulders pattern has formed, with the VET / USD pair currently carving out a right-hand shoulder to complete the bearish...
I have conducted research on the VET project in terms of its recent development, both business and technical. Due to reasons connected to the company's recent decisions, together with the trend of the VET market in the past two Q's, I believe the market would continue the current bull trend, at least up until July. Due to missing data on my chart for previous...
Stage 1 completed! (Duration 105 Days)
We're currently in Stage 2 on our way back up. Two possible scenarios are outlined. I see a great R:R for the upcoming weeks.
Math never lies.
- First target is at 0.01038
- Second extended scenario would bring us back to 0.1354
144 Days - 1 July
Happy trading :)
The green ellipses represent basic but powerful MA and trend signals (bullish of course). The blue ellipses represent potential near-future bullish MA crosses, and the red zone represents long-term resistance for future prices (previous major long-term support; naturally). I think when BTC/USD begins its next bearish swing/retrace/consolidation, VET/BTC could rise...