VEN/ETH interesting patterns
Updated
Will we have a repeat of same pattern right after ATH last month or will we finish cup and handle formation (close above green trend line) and break for the upside to test ATH again?
Increasing volume would be very bullish but that isn't the case right now. I am expecting a sell off after re-brand. 50 MA is currently acting as support and closing below would indicate bearish. Watch BTC closely.
Increasing volume would be very bullish but that isn't the case right now. I am expecting a sell off after re-brand. 50 MA is currently acting as support and closing below would indicate bearish. Watch BTC closely.
Note
Just as expected. Sell off right when announcements were made. We did close below 50 MA on two occasion hours before announcements were made.Currently, BTC is about to test top of the down trend line similar to green trend line in this chart. If it fails to break out I expect VEN to follow.
I was expecting VEN to fall into 0.0055 - 0.0048 range but looks like BMW partnership is keeping the price up. We pierced through 100MA as well so I expect further downside.
Wait until VEN breaks out of green trendline to buy or Dollar cost average into 0.0055 - 0.0048 range. I dont expect VEN to fall any further, there are a lot of price action in this range.
*Disclaimer: I made this TA to test my theory and become a better analyst. This is not a financial advice.* :)
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