Then we looked at VeChain again and saw the potential for additional growth, this too happened, see it here:
Now, VeChain is trying to resume its uptrend... Here is the chart for VETBTC fully mapped
- Let me tell you that when trading, we always go for altcoins/charts/pairs that are on the low because they are easier to trade. We trade for profits, so we go with the charts that have the least risk and the highest chances of generating gains.
- Here we have VeChain that is already on the move, if you look at our trade signal above, you can see that we shared it when the prices were ranging around support.
- Now, let's get to this chart. We can see here that EMA200 and EMA300 are now in play. We have the Fib. extension levels marked with grey dotted lines as well as magenta and blue dashed lines for the most important/relevant levels.
- EMA200, brown, was first conquered then tested and retested as support... It held and a bounce is now taking place.
- This bounce pushed VETBTC above EMA10 and EMA50... is slowly starting to increase. What these signals are telling us is that this bounce might be a good one and VETBTC can resume its growth from here.
Conditions for change
Now you see the full analysis but things can always change. If prices move and close below EMA100 (0.00000068), the above signals become invalid and a new analysis is needed, prices are very likely to move lower.
Looks like VeChain will try and resume its uptrend and continue with the growth and profits.
Thanks a lot for reading.
This is Alan Masters.