👉Based on the formation of a double-bottom pattern and its confirmation by breaking the neck-line on the daily timeframe, #VELO could experience a new bullish trend.
🎯Two targets can be considered for this bull-trend:
Short-term target: 0.01917-0.02042
Long-term target: 0.05370-0.05713
✅In case of a temporary decline, the best support levels to stop the decline and resume growth are:
Support level 1: 0.01160-0.01183
Support 2: 0.01024
Support level 3: 0.00731-0.00801
❌The stop-loss for the bull-trend scenario is determined based on the double-bottom pattern. If the price falls below 0.007050, the stop-loss for this bull-trend scenario will be activated, and we should move on to Plan-B for investment, which I will explain later.
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👉Plan B / #VELO / Weekly Timeframe
If the stop-loss for the first growth scenario is activated:
VELO can still yield good profits based on this scenario:
✅A decline and the formation of a bottom from one of the following supports:
Support 1: 0.004820-0.006143
Support 2: Midline of the double channel
Support 3: Lower boundary of the double channel
(Supports 2 and 3 are dynamic and do not have fixed prices)
🎯The targets in this case are the same as the first scenario.
🎯Two targets can be considered for this bull-trend:
Short-term target: 0.01917-0.02042
Long-term target: 0.05370-0.05713
✅In case of a temporary decline, the best support levels to stop the decline and resume growth are:
Support level 1: 0.01160-0.01183
Support 2: 0.01024
Support level 3: 0.00731-0.00801
❌The stop-loss for the bull-trend scenario is determined based on the double-bottom pattern. If the price falls below 0.007050, the stop-loss for this bull-trend scenario will be activated, and we should move on to Plan-B for investment, which I will explain later.
..............................
👉Plan B / #VELO / Weekly Timeframe
If the stop-loss for the first growth scenario is activated:
VELO can still yield good profits based on this scenario:
✅A decline and the formation of a bottom from one of the following supports:
Support 1: 0.004820-0.006143
Support 2: Midline of the double channel
Support 3: Lower boundary of the double channel
(Supports 2 and 3 are dynamic and do not have fixed prices)
🎯The targets in this case are the same as the first scenario.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.