Vechain(VET/BTC)-Long Setup
VeChain (VET) has been on the watch of many cryptocurrency pundits due to the digital platform’s awesome use cases.It is one of the most promising cryptocurrencies 2019.
VeChain’s offers way to chain counterfeit products and helps in tracing products from the industry to the end user. Its drug, apparel, and wine traceability solution have been celebrated by many industrial experts.
Lets look at the latest 4-Hourly chart of VET/BTC(Binance) pair:
Bullish case:
As one can observe in the chart that the pair has been hovering around buy/accumulation zone(blue bar) since mid Januray'19 and moving within range with range high 127 satoshi and 107 as range low.This could be possible accumulation like TRX/BTC before blasting off.
It needs to test and break the 127+ satoshi level resistance to confirm bullish sentiments.Also, it has broken the 200H-SMAs(Simple Moving Average) and accelerated through ichimoku cloud which is early signs of the bulls.
Simply put, if someone wants to buy then once can buy only after 127 resistance breaks and retest for targets around red bars or upcoming resistance levels.However risk taker can enter any value from here to 127 for long term benefits.
Bearish Case:
The only Bearish argument for the pair is not breaking the 127+ satoshi resistance level, which could be early signs of bears and breaking the 107 satoshi level support would be stronglu bearish for the pair.
Simply put, if someone bought between 108 and 127 satoshi levels then stop loss should be below 107 satoshi level.
VeChain’s offers way to chain counterfeit products and helps in tracing products from the industry to the end user. Its drug, apparel, and wine traceability solution have been celebrated by many industrial experts.
Lets look at the latest 4-Hourly chart of VET/BTC(Binance) pair:
Bullish case:
As one can observe in the chart that the pair has been hovering around buy/accumulation zone(blue bar) since mid Januray'19 and moving within range with range high 127 satoshi and 107 as range low.This could be possible accumulation like TRX/BTC before blasting off.
It needs to test and break the 127+ satoshi level resistance to confirm bullish sentiments.Also, it has broken the 200H-SMAs(Simple Moving Average) and accelerated through ichimoku cloud which is early signs of the bulls.
Simply put, if someone wants to buy then once can buy only after 127 resistance breaks and retest for targets around red bars or upcoming resistance levels.However risk taker can enter any value from here to 127 for long term benefits.
Bearish Case:
The only Bearish argument for the pair is not breaking the 127+ satoshi resistance level, which could be early signs of bears and breaking the 107 satoshi level support would be stronglu bearish for the pair.
Simply put, if someone bought between 108 and 127 satoshi levels then stop loss should be below 107 satoshi level.
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