VET Consolidating, where to next?
Vechain update:
Daily & 4 HR remain bearish at the moment, but from a TA standpoint it looks like we may have found our support here. This would complete a triple bottom and indicate a reversal to the upside. Looking at he 90min chart we see Cypher B indicator in Panel 2 showing some bullish activity.
Rule of thumb:
-PRICE ACTION FIRST, THEN INDICATORS: at this point in time I would not call a bullish reversal until price action breaks through the waves of cypher A and flips from gray to white. Those EMAs are our nearest resistance with the FIB levels to follow. .20 is our battle ground, break above we're bullish, a rejection would entail another retest of our nearest fib support. For more details or my play by play, feel free to comment and ill get back asap. Personally, I am perpetually long VET as I see this changing and being the future global logistics blockchain integration.
Daily & 4 HR remain bearish at the moment, but from a TA standpoint it looks like we may have found our support here. This would complete a triple bottom and indicate a reversal to the upside. Looking at he 90min chart we see Cypher B indicator in Panel 2 showing some bullish activity.
Rule of thumb:
-PRICE ACTION FIRST, THEN INDICATORS: at this point in time I would not call a bullish reversal until price action breaks through the waves of cypher A and flips from gray to white. Those EMAs are our nearest resistance with the FIB levels to follow. .20 is our battle ground, break above we're bullish, a rejection would entail another retest of our nearest fib support. For more details or my play by play, feel free to comment and ill get back asap. Personally, I am perpetually long VET as I see this changing and being the future global logistics blockchain integration.
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