VEN/BTC: Temporary pullback followed by rise

BINANCE:VENBTC   VeChain / Bitcoin
With the rebrand coming February 26th, we can expect big moves arriving soon. The normalized RSI and stochastic RSI both agree that a temporary correction is in order, so we can expect it to hit either:

I) the lower support at 55k Sats 3.48% , backed by previous older peaks, the recent dip and the trendline or
II) the upper support at around 57.6k Sats 3.48% , reinforced by the recent small peak and 38.2% Fibonnaci retracement.

The upward trend channel is nonetheless definitive, as a bounce after that is extremely likely. MACD showing early bullish signs, reinforcing this idea.

My recommendation: wait for it to test support decisively, then buy and await good news.

Good luck out there!
評論: We've now entered the support area, we just need to wait until the reversal is confirmed, whenever it may start.
交易進行: It happened sooner than expected, but here we are! SL is to be set at around 57K Sats.
評論: Facing resistance from the previous peaks, can we break through?
交易結束:達到停損點: Sadly, the hype up to the announcement failed to bring VEN up to expected values, with the post-rebranding dump being the final nail in the coffin. Better luck next time.
BTCUSD itself is approaching a critical support area - what if it goes into another full-blown correction and drags down the rest of the market? Would you recommend letting it stop us out in VENBTC or just riding it out?
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AuspiciousInvestor btctrillionaire
@btctrillionaire, If that were to happen and VEN/BTC were to plunge, I'd say that's an excellent opportunity to let your stop-loss do some work; it would likely allow you to get in at a lower price than your stop-loss. Of course, I advocate for long-term holding of VEN because it's one of the most solid projects in crypto (in my opinion), but if you get such a golden opportunity to increase your bag size, why not take it? :)
+1 回覆
Great TA, thank you. I´ve been in for a while. Was also in back when it went to 90000. Sold and bought back at the dip. Fingers crossed with get a good pump tomorrow! Will be ready to pull that sell trigger incase we have a reversal on Monday.

Good luck with your positions!
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