VET/BTC 12H
Direction: Bullish
Pattern type: Continuation
Important resistance level to break and cruicial support level with nice retest. Potential Falling Wedge pattern but I cant confirm it yet, I'm still not a 100 % sure about that. Volume is diminishing trouhgout the pattern and should expand at the end of the pattern to make a breakout possible and validate the pattern. The more volume at the end of the pattern the bigger the chance of a breakout confirmation. Confirmation would be a close above the upper descending trendline drawn across the highs of the pattern, with above average volume. Target would be the highest point of the falling wedge, so around 0.00000474 +/-. Another bullish sign could be when (if) the EMA50 crosses the EMA200 upwards. If its possible for all the requirements for a breaout to happen around the same period of time i think we can buckle up and wait for the rocket to launch!
Pattern type: Continuation
Important resistance level to break and cruicial support level with nice retest. Potential Falling Wedge pattern but I cant confirm it yet, I'm still not a 100 % sure about that. Volume is diminishing trouhgout the pattern and should expand at the end of the pattern to make a breakout possible and validate the pattern. The more volume at the end of the pattern the bigger the chance of a breakout confirmation. Confirmation would be a close above the upper descending trendline drawn across the highs of the pattern, with above average volume. Target would be the highest point of the falling wedge, so around 0.00000474 +/-. Another bullish sign could be when (if) the EMA50 crosses the EMA200 upwards. If its possible for all the requirements for a breaout to happen around the same period of time i think we can buckle up and wait for the rocket to launch!
Note
Please let me know in the comments what you think of this idea.- Especially poeple that might disagree, I would love to hear why.
- I'm just a beginning trader so every sort of feedback will be helpfull.
Thanks!
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.