Watching VEN closely for reversal signs
Updated
Hi all,
VEN seems to be in a free fall since July this year.
Since we broke down through the 0.618 fib retracement level, the first support in sight is the 0.786 fib retracement, coinciding with a support from December last year.
I'm looking to load up on more VEN in the green areas. In the meantime, watch the oscillators (I like OBVOSC_LB and RSI) for signs of a reversal.
VEN seems to be in a free fall since July this year.
Since we broke down through the 0.618 fib retracement level, the first support in sight is the 0.786 fib retracement, coinciding with a support from December last year.
I'm looking to load up on more VEN in the green areas. In the meantime, watch the oscillators (I like OBVOSC_LB and RSI) for signs of a reversal.
Note
Note
We might see VEN break out of this channel. Grey box is previous support area.Bullish div visible on 4h chart (RSI, OBV not yet).
Note
Note
Still no solid ground in sight for either the price, ichi or the RSI/OBV. Approaching buy zone #1, from just above the .786 fib retracement to the previous support of 18k sats.
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