VETUSD bottom is near or bottom is here?

8 Nov 2020

Looking at the daily chart, yesterday was a retracement of a strong rally that started November 4 and right now a second leg up may be forming. Will this be just another 2-legged rally before another leg lower or is this a rally that will start a bigger rally to re-test the ATH? As always, we shall see but depending on how today's bar closes, we could see another attempt at 0.012 and maybe higher. To achieve that we need a daily/weekly close above that descending resistance trendline marking a potential wedge bottom structure.

9 Nov 2020

Nota

No breakout yet. But price seems to be pressing up against that trendline resistance. Just needs a little nudge perhaps with some volume? Otherwise, likely to see more sideways to down, maybe another test of recent lows.