POLONIEX:VRCBTC   VeriCoin / Bitcoin
33 2 5
Potential Tweezer bottom broken by current candle. Look for and expect the 200MA to get touched. We are surely retesting support levels at this point as RSI on 6H and higher Timeframes continues to move lower. A text book ABC correction, would plow threw prior weeks price levels as if last week never happend. I dont think that is in order here as the volume on the drop from 11K was very low, however on a 12H time frame a full retest of even last weeks support takes us to 5300 sat, the bottom of the 12H Bband and surely a sharp down turn indicator wise. There have been some nice intra day plays, however if the 200MA doesnt hols on a 2H I think we will retest the lows of the past 30 days. This would also plow right past the last few weeks wedge , and probabaly destroy any chance of seeing local highs again for quite a while. I have been buying the 200MA on this latest dip, however have a tight stop loss and have no problem fomo re-entering if the market displays stop-loss hunting characteristics.








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If this has helped you in any way & you are inclined to do so, a small thank you can be sent below.

BTC: 1um3313w6fJhrfirj9mXz7y2GAm761Tqq
VRC: VHqBcdAjkXVbaxZ7EsXsBzy2LLNyicgzDT
In fact, this chart provides a different perspective of the market. This type of charting idea never passed through my mind. It is always good to keep in touch with professional traders.
Thank you for sharing this chart. Continue your good work.
Balas
BTCFailWhale patterntrader
@patterntrader, I'm no professional. Just some random guy on the internet with an interest in Vericoin.
Balas
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