Venice TokenUpdated Venice Token (VVV): The $6 Trap Before the Next Leg Down
A deceptive bounce/rally is brewing—don’t get faked out before the next major move.
Venice Token (VVV) is at a critical juncture. Despite a recent rebound, the price action suggests an impending bull trap, luring traders into a false rally before another drop.
Price is currently approaching $5...
A bounced and move toward $6.00+ is expected before heavy resistance kicks in, leading to a deeper correction—potentially toward $4.00–$3.80. Multi-timeframe analysis suggests that buyers will get faked out before the next leg down.
Final Thoughts:
Traders should stay cautious—this rally might not be what it seems. Look for $6 as a potential exit, and watch for a further breakdown in the coming hours. Patience will pay off.
VVVUSD
Venice Token (VVV) is at a critical juncture. Despite a recent rebound, the price action suggests an impending bull trap, luring traders into a false rally before another drop.
Price is currently approaching $5...
A bounced and move toward $6.00+ is expected before heavy resistance kicks in, leading to a deeper correction—potentially toward $4.00–$3.80. Multi-timeframe analysis suggests that buyers will get faked out before the next leg down.
- Current Analysis: VVV is experiencing a temporary recovery after a sharp decline.
- False Reversal Signal: The price failed to reclaim a key range, invalidating a full reversal.
- Short-Term Expectation: A push up to $6.00–$6.10, likely to fake out buyers.
- Selling Pressure Zone: Strong resistance will likely prevent further upside.
- Next Drop Target: Expect a move down to $4.60 first, with potential dips to $4.00 or even $3.80.
- Double Bottom vs. Adam & Eve: Initially looked like an Adam & Eve reversal, but structure suggests a double bottom formation instead.
- Multi-Timeframe Analysis: Suggests that the current bullish move is premature and unlikely to hold.
Final Thoughts:
Traders should stay cautious—this rally might not be what it seems. Look for $6 as a potential exit, and watch for a further breakdown in the coming hours. Patience will pay off.
VVVUSD Note
Everything I discussed here could take another 24+ hours to completeTrade active
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Note
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Looks like Adam and Eve after all, folks
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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.