Despite fear all over the market, I bought some VET on the spot.
(Mean it could go to 4c without destroying my account.)
It's on 61 FIBO now and bounces in several 30m candles.
It could be a good sign if this 4h candle will close as a bullish pinbar.
Manage your risk!
Not much has been happening over the last few weeks, Keeping chart simple just by playing support and resistance. The price is touching support level again. over the next days we should see the price bouncing off this level and hopefully it will move towards resistance.
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-Following VET recently it shows an interesting pattern taking place , price retested level of support 0.075$ several times after sellers failed to create a new lower low meaning they lost their momentum , price into consolidation since beginning of...
The area at the end of the symmetrical triangle is getting smaller and smaller in $VET.
We might see a big move either way.
For me I prefer taking a long position by breaking $0.0800 level with targets shown in the chart.
MANGAE YOUR TRADE & STOP LOSS.
Good luck with your trades!
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Everything on the chart.
Since the moment of the last idea, we have gotten more complex and updated the local bottom, I am still waiting for an upward movement to form wave (d) in the global triangle.
Entry: market and lower
VET is currently in a bigger ABC correction and approaching the final leg down of the C wave, after which we will be looking to buy and hold Vechain for the long term.
We have the -0.27 fibonacci at $0 which is very unlikely. However, if price drop close 0, it should be seen as a buying opportunity. There's a lot of hype behind VET so it is unlikely that it will...
please see my current idea on VeChain, where my counts suggests a minimum target of around 1.2 $. This is due to the fact that wave 3 is similar length as wave 1 on log scale. Based on this knowledge I assume that the ''real'' bullish impulse is just getting started.
Let me know your thoughts.
This is no financial advice, just my technical view.
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Here is the top-down analysis for VET, feel free to request any pair/instrument or ask any questions in the comment section below.
Best of luck!
Vechain is showing selling exhaustion on the daily and 4hr with triple classic divergence on the MACD and the RSI. In addition, there is a potential bullish dragon pattern with a double bottom at the $0.077 to $0.072 area. Looking for a 70%-100% gain with a potential 15% stop loss.
Stop loss: $0.065
1st Target: $0.127
2nd Target $0.141
3rd target: $0.18
*THIS IS NOT FINANCiAL ADVICE*
Overall, I am bullish for VET's 2022.
If you take into consideration their niche, and their current partnerships, you'd be bullish on VET also...
If we take the April - May '21 run-up to the .20 cent range, we can consider the top there to be the .786 fib line on a larger scale.
Otherwise, on a smaller scale, it is the .236 "top"...