Hi guys,
Another update on another coin. This time it is VENBTC.
You are looking at the daily chart, which tells us a couple of things:
- We had a nice rally from the beginning of april untill May 14th. On May 14th we touched the 60k sat resistance and dumped afterwards. This was also because BTC dropped like crazy.
- We found support on 42.5k sat (twice). This means we made a double bottom on this support level, which is a very good sign.
- RSI and MACD also tell us its a double bottom.
- MACD almost crossing up.
- I've drawn the fib retracements and we have to break the 0.382 level, which is a tough resistance. This resistance is around 49.5k-50k sats.
With the upcoming events in June (mainnet launch, wallet launch), I expect VeChain to rise.
First resistance levels:
- 50k sats
- 54.5k sats
- 57k sats
- 60k sats
Another update on another coin. This time it is VENBTC.
You are looking at the daily chart, which tells us a couple of things:
- We had a nice rally from the beginning of april untill May 14th. On May 14th we touched the 60k sat resistance and dumped afterwards. This was also because BTC dropped like crazy.
- We found support on 42.5k sat (twice). This means we made a double bottom on this support level, which is a very good sign.
- RSI and MACD also tell us its a double bottom.
- MACD almost crossing up.
- I've drawn the fib retracements and we have to break the 0.382 level, which is a tough resistance. This resistance is around 49.5k-50k sats.
With the upcoming events in June (mainnet launch, wallet launch), I expect VeChain to rise.
First resistance levels:
- 50k sats
- 54.5k sats
- 57k sats
- 60k sats