Yesterday I painted a bearish view, based on the downtrend and a triangle formation I was watching. Today I'm feeling cautiously bullish on VTC. The triangle broke down, as I predicted, but not with any conviction or big price move. I think the price will now look to test higher resistance. The Bollinger Bands are squeezed tightly, and the Stoch RSI is oversold on...
As I pointed out in my last VTC chart, it broke downward out of it's impressive uptrend, and has been continuing down ever since. At the moment I'm seeing two things that make this an interesting coin.
1. There's a triangle formed and ready for a move. I would lean towards it being a continuation pattern and a break downward being the next move.
I'd be careful with VTC here, a coin I was previously long on. It fell out of the uptrend, and tested the line and was rejected, precipitating more downward momentum. At the moment it has bounced off of the lower Bollinger Band line and testing the middle, but for me it's a watch and wait.
Here's what I'm looking at with Ethereum at the moment. Potentially forming a W Bottom on the Bollinger Bands.
You can see a drive just below the BB Support, then a push to the middle. I'm looking for a second test of the support around $292, and then a breakout of the pattern taking us to around $350. 1 Day MACD is tightening, and a crossover could coincide...
VTC is struggling a little bit with 23% fib. It's also over bought on 1 and 2 HR, signalling a bit of a pullback from here. Check out where I circled on the Stoch RSI. A couple of times it hit overbought on 1HR 95% and then pulled back to around 55-60% to load up for another run. I think it's going to do the same thing here.
Big signals telling me we are about...
Keeping this very simple. Look at the Stoch RSI where I have circles. Each leg of this amazing bullrun began from the very oversold point on Stoch RSI. We just hit that on 1, 2, 3, 4 HR timeframes. MACD crossing on 45 min timescales too. I think this is the next leg starting here. Target for me is still 11.5k first.
Watching this smallcap coin AEON to see if it holds support. Other indicators look interesting. MADC close to bottom, Stoch RSI heading towards oversold. Has shrunk from 87k high in October to 24k here, so a reversal could see nice gains.
Some nice bull divergence on Ark, and the MACD for 1hr is pointing upwards.
Zooming out to 1 Day timeframes the price is sitting on long term support with MACD bottomed out. Some nice bull divergence on Ark, and the MACD for 1hr is pointing upwards.
Looks to me like a big bull pennant forming on VTC. Need another touch of the upper trend line to confirm. Volume is also decreasing, and looks good that the MACD on 3 hr and 4hr have recently crossed and look set for upside.
Flag pole length is about 47k, so target of breakout would be around 115k.
Looks like VTC is trying to form the handle of a C&H continuation pattern as you can see from this chart of 4hr candles. Watching to see if this breaks out with volume to confirm. Target of breakout would be 95k sats.
ADX has platform release in October, and is currently in an Ascending Triangle formation. We had a bit of a fakeout, but looks to still be consolidating within the triangle still. On longer timescales the pattern works too. Looking to break 169k on convincing volume for the next move upwards towards 200k.