​​#Analysis
#VET

VETBTC Technical analysis suggest an upcoming bull run

Good evening, Dear Subscribers!

Past month there were few signals and analyses due to market conditions and we had to post them in Premium channel only. Recent successful series of signals show that market seems to start recovering. Number of strong trading ideas grew significantly past week. Today we start sharing some of analysis with public on TradingView again 🙂



Technical analysis:

It has been noticed that BTC gains power and slowly crawls upward while Alts demonstrate times faster growth. Vechain seems to lag behind in this rally, however it reached Fib 1 retracement level and global bottom. The most important is that we see a third fractal breakout from descending crossed trend line . The price is above EMA50 (Blue line) confirms the reverse. Stoch RSI is in overbought area, however volume goes up, while MACD is Bullish .

VET broke a large falling wedge that lasted almost a month. The price crossed Ichimoku red cloud resistance. EMA20 holds a dynamic support, RSI is in uptrend.


Overall:
Indicators shows possibility of a large growth we recommend to hold VET for several weeks

The next important resistance is around 0.00000126, then long term consolidation will finish and bull run will start

You can track this idea on TradingView