VeChain / BitcoinUpdated VETBTC
Now we see the falling wedge formed. 0.5 level of Fibo is a support zone, from which we bounce for the third time. In this situation, we can touch the support zone at the blue point for the fourth time, and go to the upper border of the wedge when we break through it boarder, we go higher to 0.618 Fibo level. If we break through the 0.5 Fibo level for now it's support zone, then I expect a fall to the next 0.382 Fibo level - lower edge of the falling wedge.
Trade active
We see that VET has broken the top line of the wedge, but activity is not observed among buyers and now it returns to this border already as support and will test it, if it breaks down we see that VET came to the blue point and for the fourth time it touches the global support lines. If he pushes it further, it will go to the lower boundary of the wedge to 0.382 Fibo level. If the position is held, we can observe further movement to 0.618 Fibo level
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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.