Hello Traders,
I have been trading VET/USDT pair recently as the price action has been very predictable in 5 mins frame, and I believe that it is undergoing accumulation phase.
Looking at 4 hour chart for VET/BTC pair, VET has been stuck in a very tight range for some time and both bulls and bears are desperately waiting for price action (at least I am). There is a very tight squeeze in bollinger band which support the volatility is imminent. (Even with recent Bitcoin bear breakout, VET/USDT pair remained fairly untouched which suggests the strength)
In case of bull breakout, I will be swing trading purely based on support/resistance and key Fibonacci level. I believe that VET/BTC pair can go up to 244 Satoshi in the upcoming rally as the key Fibonacci level will overlap with the key resistances/supports.
Stop loss: 190 Satoshi
Happy Trading!!
I have been trading VET/USDT pair recently as the price action has been very predictable in 5 mins frame, and I believe that it is undergoing accumulation phase.
Looking at 4 hour chart for VET/BTC pair, VET has been stuck in a very tight range for some time and both bulls and bears are desperately waiting for price action (at least I am). There is a very tight squeeze in bollinger band which support the volatility is imminent. (Even with recent Bitcoin bear breakout, VET/USDT pair remained fairly untouched which suggests the strength)
In case of bull breakout, I will be swing trading purely based on support/resistance and key Fibonacci level. I believe that VET/BTC pair can go up to 244 Satoshi in the upcoming rally as the key Fibonacci level will overlap with the key resistances/supports.
Stop loss: 190 Satoshi
Happy Trading!!
Note
Good breakout from MA 5, 10, 20, and 50! They all starting to bend upward, which suggest the start of bull market cycle. Additionally, the large volume supports my point. Currently MA 100 is acting as a resistance which is roughly where horizontal resistance is (203 Satoshi). If we manage to break this resistance, I will be taking partial profit at 209 Satoshi, followed by 216-218 Satoshi as there is a confluent layer of resistance around that region.
Note
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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.