VeChain / TetherUSShort
Veteran Supply Chain Coin Prone to Retracement Before Launching
Today I am publishing a report on VET.
What we have here is an adam and eve topping pattern, which is concerning. It enjoyed a massive run-up for several weeks and now it is time to dip down below for more rocket fuel.
VeChain is notorious for making major retracements before rocketing upwards. Checking its price history from December you will find that it lost 75% of its value in four days before consolidating and moving higher. It did the exact same thing in late February, except that time it only retraced a little less than half off its value.
I have highlighted two zones with high bounce potential for VET.
The purple dotted line represents a 61.8 fibonacci retracement level. It is possible for it to fall between that and 65% before consolidating and continuing its moon mission.
The pink line would mean further retracement, but seems more likely given the current toppy state of the market and also the unfortunate topping structure VET is currently showing us. On that day of February 12th we have the highest registered volume of the year thus far. Therefore that would be a great spot for the bulls to stage a comeback.
Keep some dry powder ready and set your buy orders for .054.
VeChain will very likely reach that zone.
You will then be able to sell a few weeks later for .45.
If you like the idea of making 9x your money in a matter of weeks, this is a good play for you.
Please like and subscribe my work! Your likes and comments motivate me to keep churning out content.
What we have here is an adam and eve topping pattern, which is concerning. It enjoyed a massive run-up for several weeks and now it is time to dip down below for more rocket fuel.
VeChain is notorious for making major retracements before rocketing upwards. Checking its price history from December you will find that it lost 75% of its value in four days before consolidating and moving higher. It did the exact same thing in late February, except that time it only retraced a little less than half off its value.
I have highlighted two zones with high bounce potential for VET.
The purple dotted line represents a 61.8 fibonacci retracement level. It is possible for it to fall between that and 65% before consolidating and continuing its moon mission.
The pink line would mean further retracement, but seems more likely given the current toppy state of the market and also the unfortunate topping structure VET is currently showing us. On that day of February 12th we have the highest registered volume of the year thus far. Therefore that would be a great spot for the bulls to stage a comeback.
Keep some dry powder ready and set your buy orders for .054.
VeChain will very likely reach that zone.
You will then be able to sell a few weeks later for .45.
If you like the idea of making 9x your money in a matter of weeks, this is a good play for you.
Please like and subscribe my work! Your likes and comments motivate me to keep churning out content.
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