Welcome fellow Tradingviewers,
In the first analyses of VETBTC we showed you guys the outbreak of the falling wedge, then we showed you guys the forming of the Cup & Handle pattern on the HTF.
Not much has happened since then but we are updating because new oppurtunity arises.
Let start:
Monthly:
- Monthly is not looking to exciting, currently turning into a bearish engulfing which would indicate downside.
Weekly:
- Starting to enter the support zone from the last real dumping area.
- looking like this could become a bearish engulfing which would also indicate more downside.
- The cup and handle pattern is still valid
Daily:
- We are currently nearing our second buying area which is located at the trend indicator, the 200 daily moving average.
- Death cross from the 50 and 100 MA could become a thing indicating more downside.
We are a huge fan of buying the 200 MA on the different timeframes and the daily usually is a pretty strong support zone.
For our cup & handle analyses to be valid we need the 55-60 sats to support the price.
However if the 200 daily Ma fails we might be back at the start and could again become bearish.
This analyses is only showing you guys our vision on VET and should not be considered as financial advice. If you agree or find this analyses useful, don't forget to leave a Like!
If you have anything to say about this analyses you can do so in the comments below!
Kind regards,
Forallcrypto
In the first analyses of VETBTC we showed you guys the outbreak of the falling wedge, then we showed you guys the forming of the Cup & Handle pattern on the HTF.
Not much has happened since then but we are updating because new oppurtunity arises.
Let start:
Monthly:
- Monthly is not looking to exciting, currently turning into a bearish engulfing which would indicate downside.
Weekly:
- Starting to enter the support zone from the last real dumping area.
- looking like this could become a bearish engulfing which would also indicate more downside.
- The cup and handle pattern is still valid
Daily:
- We are currently nearing our second buying area which is located at the trend indicator, the 200 daily moving average.
- Death cross from the 50 and 100 MA could become a thing indicating more downside.
We are a huge fan of buying the 200 MA on the different timeframes and the daily usually is a pretty strong support zone.
For our cup & handle analyses to be valid we need the 55-60 sats to support the price.
However if the 200 daily Ma fails we might be back at the start and could again become bearish.
This analyses is only showing you guys our vision on VET and should not be considered as financial advice. If you agree or find this analyses useful, don't forget to leave a Like!
If you have anything to say about this analyses you can do so in the comments below!
Kind regards,
Forallcrypto
