$VET, Alcohol & Indoor…
Daily
Looking at our trend timeframe we see price continuing to respect our downtrend, stochastic rsi showing momentum is in favor pf bears with no signs of reversal. Last time price was here was back in August. No major support levels shown until 120 satoshis. Looking for a daily close above 180 satoshis or a bounce off 120, potential psychological support at 150.
Vetbtc
VET poised to break from its flagVET has corrected considerably after its sharp rise. We are sitting below the 618 retracement line, although price is flirting with the upper resistance of the channel. VET has continued to show bullish divergence on RSI as price hits lower lows while RSI is making higher lows. Price is also currently flagged out but there is heavy resistance above with the channel and most of the higher TF MAs sitting above our price. It seems more likely that we will take one more drive down before going up. The 153/155 level looks appealing. It is the 768 fib of the previous surge, the 618 of the parallel channel, a horizontal support, and 1.618 extension of the most recent local uptick. A bounce from that spot would paint another bullish divergence and set us up to retest the upper resistance. If we break it, then I have T1 as the top end of the previous surge (268). We would also potentially creating a cup and handle pattern, so watch for the handle to begin to form in that price region.
If VET were to break out of the channel here, then I will buy on the break out with the same target.
VET/BTC High probability setupVET presenting high probability setup with much confluence.
-Nearing apex of falling wedge.
- Sell side volume declining towards wedge apex.
- Directly within the golden ratio at this time.
- Daily and 12h RSIs both oversold.
- Appear to have completed ABCDE correction within wedge.
Bullish Wolfe Wave on $VET ? I've been following $VET since October 2017 and not worried about current correction. Green box in the chart is the area where I expect a bounce.
Current price pattern looks like a falling wedge (reversal pattern).
Yesterdays dump however reminded me of a different pattern,when I saw price dropping a bit out of the pattern: the Wolfe Pattern......
Wolfe Pattern is a reversal pattern where you can trade the bounce or the Break Out. As I strongly believe that past price movements show suppression and accumulation, I would wait for the break out. Red lines are the Estimated Price Arrival and showing a quick move of approx 35%.
I don't trade the Wolfe Wave in Crypto, I'm more curious to see if this pattern is going to play out but I'm reserved about it due to the strong price suppression and my initial bounce target.
More info about Wolfe Wave Pattern: www.investopedia.com
[VETBTC] VeChain Trade [100%+ PP]Recently had a name change from VeChain (VEN) to VeChain Thor (VET), this is one of the most famous cryptocurrencies out there. With a very strong project, it is in the top 20 cryptocurrency by market cap. Let's open up the charts, and see how we can trade VeChain.
Analysis:
- This chart looks quite different to most of the other charts we've been looking at lately. You can see a very strong drop on the first portion of the chart. This is the 14th August low that we keep seeing, this is when the altcoins market first created a low point. Market wise, we had another strong drop which hit by 12th September, this is not reflected in the VET chart above. The 12th September drop here is much smaller, this is because all of the weak hands (sellers) were removed on the strong drop before.
- We have strong bullish divergence on the 4h chart, with a reversal candlestick and above average volume. All this can lead to a break up soon.
Upcoming events
- VeChain (VET) 31 December 2018 (or earlier)
System for BYD Vehicles: VeChain has developed a system which will be implemented in over 500.000 BYD vehicles before the end of 2018.
Trade instructions VETBTC (VeChain)
Buy in: 0.00000175 - 0.00000195
Targets for VETBTC by Alan Masters:
(1) 0.00000220
(2) 0.00000240
(3) 0.00000272
(4) 0.00000292
Stop loss: Close daily candle below 0.00000171. (Updated 15-Oct.).
Capital allocation: <10%.
ACCOMPLISHMENT
You start with your mind, like a game, with your thoughts.
Then starts the action, your body gets involved.
You start to move, play around, starts the game.
Your are in it to succeed, you are going all the way.
Finally the finish line, I can see the goal, I can see the end.
This is my accomplishment, you have to live it to understand.
Namaste.
VETBTC setup#VETBTC setup what I looking atm. $vet is on bearish divergence on 4H but remember still can go down and have that divergence. "Maybe" b is finish and if break above 195 (EMA200) that can be signal for long with tight SL. Break bellow last low best entry 160 - 165 & 140 best R:R. Remember there is 2 count for leg C. But in 1st case targets above atm is from 10% - 40%. In 2nd count if VEN hit golden spot 0.618 fib R:R is bigger. Always use stop loss, money management and take profits in stages.
VECHAIN BEING ACCUMULATED BY WHALESRN VET is heavilly surpressed by whales, lots of fud, trying to push the price down by the weak hands
Why should we go up?
1) So many real world partnerships
2) hidden bullish div
3) whale accumulation
4) 65% of supply already locked in masternodes
5) 5-10 November 2018 | China National Import Expo
6) Many ICOs incoming
President Xi Jinping stated:
“It is not just another expo in an ordinary sense, but a major policy initiative and commitment taken of our own accord to open up the Chinese market.”
Node and rewards overview: vechaininsider.com
NORWAY x CHINA partnership: twitter.com