Vechain – 3 days before the big dayLet's have a look at this crazy graph, in our great expectation of Monday 26/02 - rebranding day!
In my previous posts I called the first buy and sell moments in 1 and 2 respectively.
Then we got to the end of the white triangle formation with all indicators going for it, Vechain broke out. It moved right up to breaking out of triangle number 2. (I made the post there of " Strong support for Vechain Thor" . And it is now very close to its rebranding moment on 26/02 (Monday).
This is a Heikin Ashi chart. And as you can see in the last three candles, the dojis and spinning top tell us that there is lots of indecisiveness now regarding where price should go next .
This is actually a bullish sign in this case, because the entire crypto market is shaking on its foundations again the last couple of days, with Bitcoin retracing from its almost uber-bull break-out, for which we’ll just have to keep waiting a little longer. So, the market goes down, and Vechain is consolidating at this new price level with no clear direction yet.
If we look at the stochastics , we see a bullish cross in the MACD and all the bullish momentum that still has to come from there. The RSI is showing slight upward momentum. Volume is halting a bit… VEN rebranding day shall have to tell us more on the next price movements. But given that the rumours go that they might perhaps announce a BMW partnership together with their rebranding, maybe this time the old adage of "buy the rumour sell the news” might maybe be “buy the rumour and buy even more on the news” - that is: if Vechain indeed would play it clever on rebranding day.
Notice that Vechain is also actually trading in a shorter term upward trend channel.
Support levels are at
- 52922 sat, and 51522 sat
- Next support at 45110 sat, and 42278 sat
Resistance at
- 58409sat
- 63896 sat
Good luck and have a look at my website where I also explain the fundamental story behind this gem (7 reasons why vechain will soon be one of the crypto top 5) ;-)
This is not investment advice, DYOR
Venusd
A great buy trading opportunity comes for VENBTC. Catch it!Technical analysis:
.VEN/BITCOIN is in a range bound and beginning of up trend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
.The RSI is at 54.
Trading suggestion:
Price is in the support zone (0.00051 to 0.00042), traders can set orders based on Price Action and expect to reach short-term targets.
.Beginning of entry zone (0.00051)
.Ending of entry zone (0.00042)
Entry signal:
Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Hammer" or "Trough" , in other words,
NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone.
To learn more about "Entry signal" and special version of our "Price Action" strategy FOLLOW our lessons:
(We have started to prepare these lessons in TradingView. If you want us to continue, give us feedbacks!)
Take Profits:
TP1= @ 0.000628
TP2= @ 0.000815
TP3= Free
Vechain: What to expect given the upcoming rebranding (on 26/02)In my previous post , I highlighted the strong support line for Vechain in the VENETH graph:
That support is still intact and we are still trading quite close to it. For those who wish to open a longer term position in "VEN", this is likely a decent entry point, especially given the fundamentals going for it (do visit my website for a fundamental take), and definitely our Tweet reply to "The Coca-Cola Kid" (renown market forecast wizard).
Looking at the VENBTC chart, we also see strong support in the large triangle formation , which is about to approach on its limits. Note that the chart is not drawn in regular candles, but in Heikin Ashi candles . If we look at the last candle stick on the 4-hourly (graph below), we see it is a “doji” stick (which means that the open and closing price are virtually the same, and that there is only limited movement in low/high). This doji candle is typical in Heikin Ashi charting and most of the time means one of two things: 1) pending trend reversal (note that we are talking about the 4-hourly chart, and you can see in the previous trend reversals in the downward channel that you get some green candles but not like a butload). 2) The second possibility is “indecisiveness” of the market. (by the way, at the time of writing, the doji was red, but now upon publishing turned green already).
I believe this one likely hints to some upside in the short term onto the moment where we hit the upper triangle resistance, somewhere like 14/15 Feb.
After that it will likely test support again before the uptake. But that is only if we look at the 4 hourly. If we look at the daily, we simply see red candles moving downwards . They will likely test support, and I don’t expect VENBTC to go much lower, given the pending rebranding on 26/02.
Now, we also see a second triangle formation in pink, which could contain price movement a little bit longer.
A rebranding typically goes hand in hand with some nice price pumping. Ven’s rebranding is scheduled for the 26/02 (although there have been hints that they might postpone it because of the bearish sentiment currently in the market).
An additional indicator can be found in the MACD , which is taking its time to reach a bullish cross, and which might be feasible by the 26th if we would extend the red and blue line (see section under the graph, blue should cross red with blue coming on top).
Conclusion:
Of course you would prefer to get some clear advice on BUY or SELL. But the chart is not giving us enough information to confirm any stance. The only thing we do know is that Vechain is a cryptocurrency with solid fundamentals and with an upcoming rebranding. A bullish cross in the daily MACD is in the making and could well support a nice pumping in the next few weeks. If the triangle formation breaks out upward and is confirmed , we will have more reason to see this one go crazy. In the meantime, if you would like to buy into VENBTC, this is a nice entry point given the current strong support levels. Maybe a sidenote: if VENBTC were to postpone its rebranding, this might turn the story upside down and result in some more downward price pressure. Otherwise, best to stay a bit on the sideline and/or if you wanna make shorter term gains, maybe not the best place to be looking (unless white triangle figure gets broken).
Just my five cents for the moment, updates will come!
VEN/BTC TO THE MOONVEN is very bullish, its respecting the trendline, bounced off the .786 FIB twice. The FIBS are adding up and I see a bull flag. Careful at the .70 - .75 area there is a candle that needs to be squared up. It will most likely rebound off that area. Anything over the .80 area becomes risky and if you arent an experienced trader I suggest taking your profit at the .80. But it may very well hit .88 and beyond.
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Let me know what you guys think in the comments!
VeChain VEN ForecastVEN is an established coin which is trending and increasing its popularity as time goes by.
Chart suggests a gradual bullish trend with an opportunity to dip buy. Support level stands at 42,000 area. Anything below is considered a bargain buy for short and mid-term investors. VEN has the potential to return to upward trend and beyond. Overall chart is a good example of a bull run, perfect in the eyes long-investors.
Targets are attainable which should give quite a substantial return. Won't be a surprise if targets are achieved within the short-term period.
Events :
By January 2018 Partnership
This is not an investment advice, always do your own research.
VEN bulls! - Predicting VEN's next price moves incl. tips!Combined Pitchfork - Fibonnacci retracement analysis clearly showing us how VEN-pricing moves, e.g. how it reached quite the high in the last week and how it bounced back to specific resistance and support levels as laid out graphically.
I highlighted some interesting stuff in the graph, and yes it looks a little bit like a colour book ;-) BUT: it can tell us a LOT on both historic ànd future price movement.
The MACD shows an upcoming bullish cross, which historically also shows a clear buy zone . We just need to sit back, have a little patience, get prepared to pull the buy trigger soon but just not yet - as I do see some more downward (or horizontal) potential in the near term. And then, we can ride the next wave higher. Although feel free to already open a position.
FYI - CCI and RSI are relatively neutral for the moment.
--> Tip: see the Pitchfork lines acting as critical resistance and support, with the Fibonnacci support/resistance lines coming in to help when necessary :-D (see blue text boxes and arrows in the graph)
Note that this is by no means formal investment advice :-)
VeChain (VEN/VET) ready for another leg higherAfter an explosive move higher, VeChain has consolidated and pulled back to its rising 8 day moving average on the Daily chart. It has broke its purple pivot line signaling a possible trend change back higher. I'm seeing new fresh volume coming in as it makes a new push higher. Long BINANCE:VENBTC / BINANCE:VENETH
