$VeChain Technical Analysis | We can ride the 3rd Impulsive Wave

cryptokraze (72)in #bitcoin • 9 years ago

CryptoKraze here

In this post I am going to cover technical analysis of $VeChain for Mid short trade on request of @abhicrypto. I am using tradingview charts and price linked to Binance exchange. Let's have a look on technical aspects of $VeChain.

Possibility on 2 Hour Chart

If you look at 2 hour chart, you will see $VeChain has made a big impulsive move and then it has formed a bullish flag. This is very common pattern in crypto currencies, whenever a coin breaks with big impulsive move, it pulls back and wait for some time before making next impulsive move. If we look at RSI, it has gone above 70 level in first impulsive move and has dipped to 50 level. Now, we are seeing 2nd impulsive move. So let this wave finish and then wait for 2nd bullish flag. We can ride 3rd impulsive wave that can be bigger than previous both waves.

I will have a buy entry at 0.00024500 with my profit target will be around 0.00040500 or above.
Stop loss just below the entry area is must for trading if you don't know the Averaging Technique in Crypto Trading.

Have a look on my other Posts
Bitcoin Technical Insight by Crypto Kraze | We have started Journey to $24,000
Averaging Technique in Crypto Trading

Steem has formed Bullish Flag | We are going to hit $10

Crypto Kraze Trading Results | $XDN Call has given more than 200% Profits

Crypto Kraze Trading Results | 200% Profit made on $Nexus Trade

If you like my posts and analysis and want me to add analysis on more cryptocurrencies, let me know in comments and I will add analysis

Disclaimer
Crypto Trading is risky business and you can loss partial or full amount of money. Trade at your own risk with that money only you can afford to lose. Bitcoin unexpected move will make this analysis void.

The @adsactly Society is junction for all those having some skills & free thinking and want to cooperate. It is a way to create better environment at steemit.