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Vechainbtc

Still bearish for VETBTCHi Traders A quick analysis of VETBTC for the next couple of days. As the Hitman is still bearish, I expect a retest of the green area before we go down further. The price might not even reach this area again, but I would not recommend to enter if it doesnt as R:R does not look very appealing when only looking at Target Area 1. It will might take some time for the price to reach Target Area 2 and therefore a lot of fundamental things could change market sentiment. Its why I mainly look at the R:R for the first Target Area.
Short
by TheHitman
After breaking down the flag retesting the 100 SMAHey folks hope you are well and welcome to the new update on Vechain coin. As the VET coin has surged more than 450% therefore in today's article we will try to understand how this coin completed the bullish setup before this powerful bullish rally and what it can do next. Breakout from down channel: The price action of Vechain was moving in a down channel since November 2019. If we see the volume profile indicator then it can be easily observed that we had that trader’s interest up to 0.00000076 btc and from the downside we had the trader’s interest up to 0.00000076 btc. And if we watch the mooon phase indicator then we have several full moons above the resistance of the channel with high altitude and the dark moons near by the support or at the support of the channel. That was another clear indication that the price action can breakout the resistance at any time and it would be difficult for the priceline to cross down the level of dark moons. In the month of May 2020 the price action finally turned strong bullish and produced more than 450% bullish rally and broke out the resistance of the channel: Breakout from the long term chart’s channel: If we switch to the weekly chart then the price action was moving in another channel on this long term chart. The priceline also broke out the resistance of this channel and during this bullish move the price action also broke out the 25, 50 and 100 simple moving averages on the weekly chart. Now the 25 and 50 moving averages are moving up to form the bull cross with 100 simple moving average that will be another bullish signal and that can produce another powerful rally. The ichimoku cloud on long term chart has turned bullish: Now if we placed the ichimoku cloud on the weekly chart then it can be easily observed that the price action has broken out the bearish cloud. The conversion line and the baseline formed bull cross just beneath the candlesticks and the lagging span of the ichimoku cloud has also crossed up the bearish cloud. After all these bullish signals eventually the cloud has also turned bullish. If we switch to the small time period 4 hour chart then we can see that the priceline is continuously forming different bull flags. Recently the priceline has formed another bull flag that was in fact a descending triangle. But Yesterday the pipeline of Vechain has broken down the support of this triangle. Now it is also breaking down the 100 simple moving average support on this 4 hour chart. If this support will be completely broken down then the price action may move more down to re-test the 25 and 50 simple moving averages on the daily chart. Conclusion: Even though the price action of Vechain is very strong bullish but it is at the very high distance from the different moving averages on the daily and the weekly chart as well. Therefore this correction rally that is likely to be started was needed before any further upward move.
by moon333
VET/BTC daily outlook 7/5/2020Good evening everyone and welcome back to my analysis of Alt coins. Im trying something new and today Im looking at the VET/BTC pairing. I pulled this chart up this evening and thought I would throw a fib onto it and start my normal analysis. But I already drew a fib on this chart and I guess it saved all this time. The fib is still very active and the candles are still respecting it even though you could probably draw a more current Fib. But for now this will do. We have seen a lot of upward momentum from VET as of late. From 37 sats back on March 13th. All the way up to 159 sats where we sit now. If you simply bought at 37 sats you would be up 4x at this point. I dont really mess with alts much lately but I may have to start back up and spend more time trading. Im missing out on some good pumps. The thing is I see a lot of pressure at this price. The wicks are high above us showing the pump wants to continue but the selling pressure is just to high at this level at this time. Now after a few more days we may see some more fireworks if this is a continuation pattern but as most things are on the chart this is all subjective and we will just have to see the way the market goes. A continuation pattern would be a pennant forming here after the big pump which would be the pole. Very bullish formation. But I have seen strange things in crypto trading called bart simpson patterns and that could also sneak up on us. You should be prepared for anything with alts. The dumps can show up fast. Im not saying its all over for VET. I havent been watching the charts on VET so I am still cautious to take a position until I study it further. For now the pump is seemingly stalled so I will probably decline on jumping in at the moment. Maybe find a place for reentry and set a buy there. But I make good profit off my BTC trading so I am in no rush to jump into things. I just need to make sure I have the time to devote to trading like that. Its a full time job at some point. Not that I wouldnt mind making it a full time job but at the moment I have a regular 9-5 and I just dont have time to trade like I want anyways. VET/BTC is very bullish at the moment but the pump may be over. The golden cross is in full swing but I would be cautious on entering here. People are taking profit at this level and It will take some real volume to build that confidence to push above 160 sats. If I were to enter a position here I would set a stop loss fast. I always do but this is a case where chasing a pump may not end in glory. But WTFDIK right? I hope you like the alt analysis. I will try to do more. I am taking requests and if you have one leave it in the comments. Have a good night folks.
by UnknownUnicorn4304403
4
VET/BTC Can Vechain keep it up and break through?If you like my ideas and the work I do, please check out the links in the signature and give me a like ;). Vechain has been on a wild ride in recent times and completed the first 4 parts of the Elliot wave. It's now-retracted and consolidating in a bullish flag/symmetrical triangle pattern. The Tenkan (Yellow Line) is above the Kijun (Dark Blue line) and the price is holding above the Kumo Cloud. The main thing to look for is if it can break the historical resistance marked with the dotted line, on a breakout of the triangle. The probability whit this pattern is in favor of a bullish breakout but a strong horizontal resistance is always a level to take into account. If it breaks that resistance it should give it a good boost and then the upside could be very positive.
Long
by VrotteOtter
3