Our last VET analysis got invalidated due to the crypto crash. We had to zoom out and find out the meaning behind the madness.
We can see that price is in a wedge and approaching a level which we bounced off from 3 times. We could potentially bounce off it once again.
We have the -0.27 fibonacci at $0 which is very unlikely. However, if price drop close 0, it should be seen as a buying opportunity. There's a lot of hype behind VET so it is unlikely that it will die anytime soon.
Trade idea:
- Watch for one more drop back down to the 0.06 level
- Enter with stops below that structure level
- Target the wedge resistance as first target
- Target ATH as second target.
- HODL the rest
We may not come back down to these prices for a long time, if ever. Be sure to get in at the best possible price and hold it!
We can see that price is in a wedge and approaching a level which we bounced off from 3 times. We could potentially bounce off it once again.
We have the -0.27 fibonacci at $0 which is very unlikely. However, if price drop close 0, it should be seen as a buying opportunity. There's a lot of hype behind VET so it is unlikely that it will die anytime soon.
Trade idea:
- Watch for one more drop back down to the 0.06 level
- Enter with stops below that structure level
- Target the wedge resistance as first target
- Target ATH as second target.
- HODL the rest
We may not come back down to these prices for a long time, if ever. Be sure to get in at the best possible price and hold it!