VET/BTC - target perspectiveHello guys, thanks for reading this analysis!
VET/BTC is a beautiful chart currently. We broke out with heavy volume and ripped all the way up right below the 0.786 Fibonacci
Yet it seems we are consolidating for the next test to the upside. Why?
1. The RSI (14) is completely overbought, yet it seems like it won't cooling off, it looks more like the opposite at the moment.
2. We have support from the 89 MA which is a good indicator for changing trade directions.
3. The Volume is amazing: High green volume candles and low red volume candles. This means that many people are interested to buy at the moment, but not many people that want to sell for now.
IF we can get above the 0.786 Fib (99 Sats) we can see this as our confirmation to test the 0.618 Fib (150 Sats) which is the most important one, because we failed the last rally there so this means it has the most confluence in it.
Once we broke the 0.618 and consolidate above we can say the bear market is over!
Take this chart as your help to find entries and exits. All Fibonacci's will play an important role and you should take my red boxes as places to sell or to re-enter.
Be safe, be happy, be healthy,
Kami
Vetbtcbuy
#VET: 40% Profit Potential in short term!!!VeChain (#VET) is an up and coming blockchain platform aimed at serving the logistics sector and the Internet of Things (IoT). The new blockchain was launched in July 2018, offering a swap of the older VEN token for the VET digital asset. VeChain is a dual-asset platform, with an elaborate system of staking nodes paying out rewards in VeThor (VTHO).
In a short to midterm, VET is currently on reversal trend which already started to go up. Currently on short term pullback. It has major support at 86.
Critical areas to watch if buying pressure is strong at 88, 89, 90.
Short term Target at 123.
VETBTC Latest Technical AnalysisWe are doing Analysis of VETBTC on 1 Day Timeframe.
I have Mention Support and resistance levels on Chart
Note: This is only for Educational Purpose this is not an Investment advice.
Please support the setup with your likes, comments and by following on Trading View.
Thanks
Adil Khan
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Technical analysis:
It has been noticed that BTC gains power and slowly crawls upward while Alts demonstrate times faster growth. Vechain seems to lag behind in this rally, however it reached Fib 1 retracement level and global bottom. The most important is that we see a third fractal breakout from descending crossed trend line. The price is above EMA50 (Blue line) confirms the reverse. Stoch RSI is in overbought area, however volume goes up, while MACD is Bullish.
VET broke a large falling wedge that lasted almost a month. The price crossed Ichimoku red cloud resistance. EMA20 holds a dynamic support, RSI is in uptrend.
Overall: indicators shows possibility of a large growth we recommend to hold VET for several weeks
The next important resistance is around 0.00000126, then long term consolidation will finish and bull run will start
Signal:
Buy zone: 0.00000103-112
Sell targets:
0.00000126
0.00000154
0.00000181
Stop loss:
0.00000097
VeChain analysis: Bullish move on the horizonJuly 26, 2018 price action to current date is shown in this VeChain analysis. A bearish trendline helps to put the price of VeChain in perspective against Bitcoin i.e. VETBTC.
Price closed above the ~5 months bearish trendline on December 17, 2018 and therefore implies resumption of bullish momentum in VeChain against Bitcoin. A consolidation in price above the current downtrend line would also argue for a bullish bias.
0.00000134 is used in this analysis as the point of invalidation (POI) at which point the continuation of the current downtrend would be established.
VET/BTC will break up shortly.Wooow VET just doesn't want to make any distinct moves lately. I started accumulating at 158-160 sat. I will sell half of my position at 174 Sat because I'm not a greedy bastard but I do feel that it could make a 30% move in the next few weeks. So if your a 'hodler' I would recommend buying a bag at the current price (160 sat). Especially if BTc pumps due to this supposed ETF gets approved, but to be honest I'm not too hopeful. All the news articles about it are iffy and I keep hearing fake dates that will "determine the start of a 2018/2019 bull run". Most of this is BS and never trade accordingly.