VEN/BTC looking for a bottom!
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Hello everyone!
So after hitting TP1 netting us a quick profit,
VEN started getting denied by the resistance I charted out in the older VEN/BTC chart, VEN went downwards and broke the up trends support + ascending triangle pattern.
it is overextending on its downwards move compared to the previous moves down indicating this could be:
I) the bottom because it's hitting a strong support it climbed up from before without significant drops below it.
II) downwards trend going to continue after a short bounce upwards to consolidate.
Both the scenarios are trade opportunities but trading a downwards move always brings more risk compared towards trading an upwards move.
So, for this reason, I am giving you this chart and my thoughts beforehand but for the new traders among us that aren't able to act on a trade that is heavily reliant on the upcoming price action I will not yet release a buy/sell signal
UNTIL we have more price action on the currently drawn supports.
This is because I want to lower the risk for inexperienced traders and not put you in harm's way by just following what I state in the charts.
An update will follow with a simple signal!
as always,
Happy Hunting!
All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock/cryptocurrency picks, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. These are not facts but my personal views and opinions.
I will not and cannot be held liable for any actions you take as a result of anything you read here.
So after hitting TP1 netting us a quick profit,
VEN started getting denied by the resistance I charted out in the older VEN/BTC chart, VEN went downwards and broke the up trends support + ascending triangle pattern.
it is overextending on its downwards move compared to the previous moves down indicating this could be:
I) the bottom because it's hitting a strong support it climbed up from before without significant drops below it.
II) downwards trend going to continue after a short bounce upwards to consolidate.
Both the scenarios are trade opportunities but trading a downwards move always brings more risk compared towards trading an upwards move.
So, for this reason, I am giving you this chart and my thoughts beforehand but for the new traders among us that aren't able to act on a trade that is heavily reliant on the upcoming price action I will not yet release a buy/sell signal
UNTIL we have more price action on the currently drawn supports.
This is because I want to lower the risk for inexperienced traders and not put you in harm's way by just following what I state in the charts.
An update will follow with a simple signal!
as always,
Happy Hunting!
All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock/cryptocurrency picks, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. These are not facts but my personal views and opinions.
I will not and cannot be held liable for any actions you take as a result of anything you read here.
Nota
VEN looking to test the resistance! keep a close eye for the next support/ higher low( if possible ).Nota
VEN trying to use Bottom 1 as a new support!Dagangan aktif
Potential target if you are holding VEN is the next white line to take profit.:0.000504-0.00050
Penafian
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