The TRUE buy & sell moments for Vechain & the next BUY! (cont'd)
In my previous post on Vechain, I highlighted the TRUE buy and sell moments for Vechain Thor:
I showed that MACD, "SMI" and Fibonacci speed resistance fans could help in identifying these moments, as is evident in the previous cases where you see the first green vertical, and the first red vertical. I then drew a 2nd green vertical as the likely turning point for more bullish VEN momentum. Do note that Bitcoin can mess around a little bit with these indicators, but ceteris paribas (all else equal) this is a valid set-up for a next break-out, in theory.
Looking at the chart, we see the first green golden cross MACD confirmation in 1, the death cross in the MACD in 2. Moreover, today, we are seeing a clear golden cross in the MACD in 3, which is very bullish. We are seeing over 10% increase in the price right on that spot today.
Moreover, in 5, we see bullish confirmation by the RSI indicator: leaving the oversold area in an upward trend line (the opposite as in 4).
Moving ahead, as you can see, we are currently in a big yellow downward trend channel, and within that channel we have a small little light blue triangle (6) that has just experienced a bullish break-out. Nevertheless, we are still in the consolidation rectangle in transparant red around it.
The real break-out still needs to occur, and would logically take place in the big blue triangle (7), with upper resistance coinciding with the downward yellow trend channel resistance. The current set-up seems good.
Lastly, the Stochastic Momentum Index ("SMI") - as relied upon in the previous post - works quite well in tandem with MACD as you can see on the bottom of the graph!
Conclusion: Do we have what it takes?
--> Golden cross in the MACD (very bullish)
--> RSI coming out of the oversold region & trending upward (very bullish)
--> Just broke out of the smaller triangle but still in the consolidation rectangle): I’d argue neutral to moderately bullish.
--> Strong support on the triangle base: bullish in the sense that we shouldn’t fall too much lower.
--> Closing in to the end of the triangle / trend channel with bullish indicators: yes – bullish
--> "Stochastic Momentum Index in favour as well: bullish
So as long as Bitcoin isn't too capricious in the coming days, we should be good to go.
Feel free to follow on twitter to stay on top (see bio).
(this is not to be considered formal investment advice - DYOR)
I showed that MACD, "SMI" and Fibonacci speed resistance fans could help in identifying these moments, as is evident in the previous cases where you see the first green vertical, and the first red vertical. I then drew a 2nd green vertical as the likely turning point for more bullish VEN momentum. Do note that Bitcoin can mess around a little bit with these indicators, but ceteris paribas (all else equal) this is a valid set-up for a next break-out, in theory.
Looking at the chart, we see the first green golden cross MACD confirmation in 1, the death cross in the MACD in 2. Moreover, today, we are seeing a clear golden cross in the MACD in 3, which is very bullish. We are seeing over 10% increase in the price right on that spot today.
Moreover, in 5, we see bullish confirmation by the RSI indicator: leaving the oversold area in an upward trend line (the opposite as in 4).
Moving ahead, as you can see, we are currently in a big yellow downward trend channel, and within that channel we have a small little light blue triangle (6) that has just experienced a bullish break-out. Nevertheless, we are still in the consolidation rectangle in transparant red around it.
The real break-out still needs to occur, and would logically take place in the big blue triangle (7), with upper resistance coinciding with the downward yellow trend channel resistance. The current set-up seems good.
Lastly, the Stochastic Momentum Index ("SMI") - as relied upon in the previous post - works quite well in tandem with MACD as you can see on the bottom of the graph!
Conclusion: Do we have what it takes?
--> Golden cross in the MACD (very bullish)
--> RSI coming out of the oversold region & trending upward (very bullish)
--> Just broke out of the smaller triangle but still in the consolidation rectangle): I’d argue neutral to moderately bullish.
--> Strong support on the triangle base: bullish in the sense that we shouldn’t fall too much lower.
--> Closing in to the end of the triangle / trend channel with bullish indicators: yes – bullish
--> "Stochastic Momentum Index in favour as well: bullish
So as long as Bitcoin isn't too capricious in the coming days, we should be good to go.
Feel free to follow on twitter to stay on top (see bio).
(this is not to be considered formal investment advice - DYOR)
評論:
Bearish doji!
評論:
Now that's the picture we don't want:
4-hourly:
- Doji followed by red candle + pending death cross in the MACD + same in the "SMI"
I'll need some motivation, so I'll update this post as of 15 likes :-D
4-hourly:
- Doji followed by red candle + pending death cross in the MACD + same in the "SMI"
I'll need some motivation, so I'll update this post as of 15 likes :-D
評論:
Momentum remains intact though
On the daily:
On the 4 hourly:
Question is...will it hold?
-> Upward momentum still intact
-> No scary doji candles just yet
Never sell the bear before you shot him, but VEN is testing this crucial resistance level, that's for sure.