VETUSDT Weekly S/R| Falling Wedge| 200 MA| Price Action
Evening Traders,
Today’s analysis – VETUSDT- confirming an S/R Flip Retest with bullish divergence, upside probable
Points to consider,
- Falling Wedge Pattern
- Dynamic S/R Support
- 200 MA Resistance
- RSI Bullish Divergence
- Valid Volume Influx
VETUSDT’s immediate price action is trading in a falling wedge structure, typically a bullish pattern especially above Weekly S/R. This allows us to have a bullish bias on the market.
The Dynamic S/R has been breached, holding above this level and breaking 200 MA will be deemed bullish.
The RSI has a valid bullish divergence playing out, maintaining its respective bullish control zone will be critical for a bullish bias.
Current volume profile has evident volume influxes, follow through is required to maintain bullish momentum.
Overall, in my opinion, VETUSDT is a valid long with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps!
Thank you for following my work
And remember,
“The desire for constant action irrespective of underlying conditions is responsible for many losses in Wall Street.” – Jesse Livermore
Today’s analysis – VETUSDT- confirming an S/R Flip Retest with bullish divergence, upside probable
Points to consider,
- Falling Wedge Pattern
- Dynamic S/R Support
- 200 MA Resistance
- RSI Bullish Divergence
- Valid Volume Influx
VETUSDT’s immediate price action is trading in a falling wedge structure, typically a bullish pattern especially above Weekly S/R. This allows us to have a bullish bias on the market.
The Dynamic S/R has been breached, holding above this level and breaking 200 MA will be deemed bullish.
The RSI has a valid bullish divergence playing out, maintaining its respective bullish control zone will be critical for a bullish bias.
Current volume profile has evident volume influxes, follow through is required to maintain bullish momentum.
Overall, in my opinion, VETUSDT is a valid long with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps!
Thank you for following my work
And remember,
“The desire for constant action irrespective of underlying conditions is responsible for many losses in Wall Street.” – Jesse Livermore