Vechain Ready For a HUGE Run!!
Looking at the Vechain/Bitcoin chart we have recently seen a great breakout to the upside, we were stuck in a clear descending channel since mid august and have finally broken through the top and i personally think this is just the start for this VET run! We are currently right on the 0.2 FIB after testing it for the 3rd day in a row and the break up and above is looming, i would love to see a push up and a daily close above this FIB level flipping it back into support and getting that boost to keep going upwards, a break above here would open the door for an absolute key target which is the pivot point, this is so important because if we get a close above this level we are set for a true pivot/reversal to the upside, with this level not far away it is very doable and could happen this week! Another explosive looking indicator we should talk about is the bollinger bands, we have been touching the top band for 3 days in a row now and the grab on and ride up is absolutely imminent, i believe that a break above this 0.2 FIB level will ignite this move on the bollinger bands since our actual candle body will be directly on the top band! Plus with our bands a lot more squeezed than normal an explosive move is coming and the bollinger bands doesn't actually indicate which way it will go but i think we all have a very good idea of which direction that is;) a very doable conservative target with all this bullishness is the 0.5 FIB which is our highs from mid august, after that we do have many key resistance points but i won't speculate too much and that will be for a later TA! Now the squeeze momentum indicator we are seeing something absolutely huge! Now we do have to wait until daily close to get the confirmation but it is our first green bar on the histogram in quite some time, without counting the super small green bar in the middle of our 2 red cycles it is the first since mid september! Now if we continue to see bullish price movement and continues increasing green bars we will be moving into a bullish squeeze shown by the black crosses and then eventually a bull squeeze release which almost everytime sends us flying to the upside! of course if the cycle is big enough with lots of momentum and with the looming altseason i think that is exactly what we are due for! Not financial advice just my opinion!!
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