VENBTC 6h chart expecting more to come from Vechain
Updated
Another of my long term cryptos, VEN has been rising in value and market cap very steady and sometimes really bullish.
I'm expecting them to reach minimum All-time-high somewhere around mid May end of May well before the expected Mainnet launch in end of June.
The recent increase in value and market cap has to do with the recent announcement from the VeChain team confirming that public testing of the Mainnet is on and so far all good. If just testing gives this response, what will launch of the real thing do?
Why VEN is a long term bag for me? Well, business to business ecosystem more precisely read below:
"VeChain is the world’s leading blockchain platform offering Blockchain-as-a-Service to enterprises for products and information By leveraging on blockchain technology, VeChain strives to build a trust-free and distributed business ecosystem, which is self-circulating and scalable. Through effective collaborations, enterprises can enjoy the benefits of transparency and value flows at high-speed rates VeChain has evolved with multiple technical iterations and have amassed significant industrial experience in rolling out real-world applications since 2015."
- vechain.com/
1. Big ascending triangle from a pretty long point of view
2. Expecting a downtrend to 0,236
3. Assuming a big support near the 0,236 fib
4. Trying to combine big range triangle with short range Fibonacci retracement since I usually work in 6 or 4 hour chart. I want to get a long term and short term point of view in this chart.
I'm expecting them to reach minimum All-time-high somewhere around mid May end of May well before the expected Mainnet launch in end of June.
The recent increase in value and market cap has to do with the recent announcement from the VeChain team confirming that public testing of the Mainnet is on and so far all good. If just testing gives this response, what will launch of the real thing do?
Why VEN is a long term bag for me? Well, business to business ecosystem more precisely read below:
"VeChain is the world’s leading blockchain platform offering Blockchain-as-a-Service to enterprises for products and information By leveraging on blockchain technology, VeChain strives to build a trust-free and distributed business ecosystem, which is self-circulating and scalable. Through effective collaborations, enterprises can enjoy the benefits of transparency and value flows at high-speed rates VeChain has evolved with multiple technical iterations and have amassed significant industrial experience in rolling out real-world applications since 2015."
- vechain.com/
1. Big ascending triangle from a pretty long point of view
2. Expecting a downtrend to 0,236
3. Assuming a big support near the 0,236 fib
4. Trying to combine big range triangle with short range Fibonacci retracement since I usually work in 6 or 4 hour chart. I want to get a long term and short term point of view in this chart.
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The updating function for this idea doesn't seem to function properly. Please see the link for up to date chart with my idea for now: tradingview.com/chart/TLDRQonF/
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Looking extremely solid and accurate so far, even when I didn't take into account the BTC bull run. Nice! Hope someone took a leap of faith and bought some according to this TA, I sure did :)
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