VET/USDT - Massive Descending Wedge
WATCH FOR BREAKOUT!!!
TARGETS:
-TP1: 0.01230
-TP2: 0.01376
-Longer Term Targets: 0.01494-0.01612 Region
My Reasons for Entering This Trade:
- RSI is oversold on the daily, currently at around 35
- Stoch RSI is slowly approaching buy zone on the daily
- Volume is decreasing, which points toward a large move either down or up in the near future
Negatives:
- RSI could go even lower if it wanted too, lowest RSI on record is around 23
- MACD seems to be at a complete standstill on the daily
- MFI could continue to go down as well
Let me know if you have any criticisms or ideas that would help support or correct my claims! GOOD LUCK :)
TARGETS:
-TP1: 0.01230
-TP2: 0.01376
-Longer Term Targets: 0.01494-0.01612 Region
My Reasons for Entering This Trade:
- RSI is oversold on the daily, currently at around 35
- Stoch RSI is slowly approaching buy zone on the daily
- Volume is decreasing, which points toward a large move either down or up in the near future
Negatives:
- RSI could go even lower if it wanted too, lowest RSI on record is around 23
- MACD seems to be at a complete standstill on the daily
- MFI could continue to go down as well
Let me know if you have any criticisms or ideas that would help support or correct my claims! GOOD LUCK :)
Kommentera:
VET successfully broke out with BTC breaking to the upside, currently finding resistance at the 0.618 level of the previous uptrend. Targets are still the same in my eyes as well!