Perfect setup, lets make some moneyDaily showing a nice wedge, if it stays within these lines get ready for some massive profits.
VTC
VTCBTC - Daily Heiken Ashi Doji building - Long TradeA Heiken Ashi doji is building on MAMA support, indicating a next wave of price is coming either to the upside or downside. Opening some longs here with tight SL below recent wicks, will be watching next daily candle for HA momentum to upside.
Weighted Daily RSI is showing center while StochRSI is showing heavy oversold, this is also an indication that a price swing to the upside could be coming.
Breakout for VTC triggeredBreakout for VTC out of the 0.0002-0.0003 btc range.
Target? - unsure exspecially because this is still lowcap.
VTCBTC Back to challenge new highsVertcoin is setting up support at the .00069 long term support and resistance line.
Should another break above .00076 and VTC will propel up!
VTC Update, Big move incoming?Yesterday I painted a bearish view, based on the downtrend and a triangle formation I was watching. Today I'm feeling cautiously bullish on VTC. The triangle broke down, as I predicted, but not with any conviction or big price move. I think the price will now look to test higher resistance. The Bollinger Bands are squeezed tightly, and the Stoch RSI is oversold on higher timeframes.
I'm also watching this blue line, which starts from the beginning of this mini-downtrend, and is acting as resistance that the price action is pushing up against. The Bollinger Band squeeze means we are about to see a big move one way. I'm cautious betting for a break of that resistance. Target 8k.
VTC/BTC Projection [Nov. 4-6th]Vertcoin is currently in consolidation from the recent ATH. Price has been trending downward, but is nearing the upper bound of the recent trading channel. VTC appears to be possibly converging on a price of approximately 48-49k satoshis, and will see a either a break up, or continued trading in this downward channel.
RSI has been bumping against the recently established bearish trend. If RSI can break above this level, and see support against the current trendline, upward momentum is likely. Continuation of the downward trend in RSI would indicate continued trading in the current downward channel.
Recommendation is:
Buy @ 54k Satoshis
Sell @ 44k Satoshis
Vertcoin headed for a down turn?See notes on chart!
I used VTC/USD because the price fluctuations in BTC
VTC next moveAs I pointed out in my last VTC chart, it broke downward out of it's impressive uptrend, and has been continuing down ever since. At the moment I'm seeing two things that make this an interesting coin.
1. There's a triangle formed and ready for a move. I would lean towards it being a continuation pattern and a break downward being the next move.
2. Bollinger Bands are squeezed really tight right now. This happens before a big price move.
So I'm expecting a strong move downward soon. However, there is the chance this could break upwards. If it does, then buying the breakout and targeting sells at 80k would the trade.
VTC consider selling nowIt's becoming extremely oversold and is coming up to a major resistance line. It will likely bounce off the line. If it does break through it will then bounce of the upper support line. The safe trade is to now sell.
If it does break the support, you may wish to reconsider re-entering.
