VeChain Textbook Ascending Triangle
Vetchain has remained very bullish since the last rally. It is bouncing off resistance at 0.265 and the ascending triangle support which is typically a bullish pattern determined by breaking of the top horizontal resistance line which could trigger a rally once again.
Pros:
- The structure remains very strong despite bitcoin correction, validates an ascending triangle pattern.
- Indicators are being fixed, looking ready for rally (etc moving averages coming together)
Cons:
- Unstable time in the crypto market, BTC hanging on support if break below there will be more downside for all altcoins.
Personal trade idea: enter at break above 0.265 with retest / buy at accessing triangle supports. SL 0.195
Pros:
- The structure remains very strong despite bitcoin correction, validates an ascending triangle pattern.
- Indicators are being fixed, looking ready for rally (etc moving averages coming together)
Cons:
- Unstable time in the crypto market, BTC hanging on support if break below there will be more downside for all altcoins.
Personal trade idea: enter at break above 0.265 with retest / buy at accessing triangle supports. SL 0.195
Nota
We broke down the ascending triangle structure which makes the technical picture 'less bullish'. However, we're still yet to make a lower low, I am still bullish on this until we have a 4hr close below 0.2.Nota
Bitcoin selloff triggering crypto selloff with this Biden Black swan event. Unexpected!
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.