VeChainViés de alta
VET - Prime Buy Position
Atualizado
VET #42
If you're looking to buy a solid top tier altcoin that may bring you the volatility that comes only with altcoins but with less downside risk than many others, then VET is a great choice here.
This whole area since June '22 has been very shallow in reflection of the highest time frame trend.
From the bearish "SC" Selling Climax low of '22 we had slightly lower lows "ST" Secondary Tests signalling downside weakness.
From there VET broke out but in the end it form a weak 3 wave 1:0.618 Golden Window correction.
And from that peak we saw further bearish action.
This is the rise and fall of an accumulation.
And it looks very much like we're reaching the end phase of the accumulation here and potentially now at "LPS" Last Point of Support.
The recent slump has pulled back to the ideal retracement Golden Window; 0.618 - 0.786.
And exactly as we like to see; a very significant support of August 2020 is plumb on the 0.618.
So we have double confluence that this can be a significant bullish reversal point here.
Whenever we see the 0.618 retracement and a significant support; that is a bit of a clue.
Notice as high as the week chart, we have a little RSI uptick of bullish divergence.
The RSI source is set to "low" not the default "close" and so it gets a reading from the lowest point.
This means that the wick of the lowest candle is captured in the reading.
But yet it has printed a higher low on the RSI.
This is bullish.
On lower time frame down on the day chart, notice the slightly lower low is likely to be a Wyckoff SC and ST, very similar to what we saw through 2022 and 2023, but in lower time frame.
So we have multiple layers of Wyckoff accumulation here and looking bullish.
Obviously for this to be correct then BTC must not make lower lows or VET will slump lower.
If BTC does slump back to the 0.618 as described in a previous thread then VET may have a minor pull back.
And in my work I am confident Bitcoin does not have another high time frame wave down as many are calling for dreaming of 35K etc.
Thats not happening I think.
Those areas are gone.
And so VET is in prime buy position here with as little downside risk as you could hope for.
See you at the top 😼.
Not advice.
If you're looking to buy a solid top tier altcoin that may bring you the volatility that comes only with altcoins but with less downside risk than many others, then VET is a great choice here.
This whole area since June '22 has been very shallow in reflection of the highest time frame trend.
From the bearish "SC" Selling Climax low of '22 we had slightly lower lows "ST" Secondary Tests signalling downside weakness.
From there VET broke out but in the end it form a weak 3 wave 1:0.618 Golden Window correction.
And from that peak we saw further bearish action.
This is the rise and fall of an accumulation.
And it looks very much like we're reaching the end phase of the accumulation here and potentially now at "LPS" Last Point of Support.
The recent slump has pulled back to the ideal retracement Golden Window; 0.618 - 0.786.
And exactly as we like to see; a very significant support of August 2020 is plumb on the 0.618.
So we have double confluence that this can be a significant bullish reversal point here.
Whenever we see the 0.618 retracement and a significant support; that is a bit of a clue.
Notice as high as the week chart, we have a little RSI uptick of bullish divergence.
The RSI source is set to "low" not the default "close" and so it gets a reading from the lowest point.
This means that the wick of the lowest candle is captured in the reading.
But yet it has printed a higher low on the RSI.
This is bullish.
On lower time frame down on the day chart, notice the slightly lower low is likely to be a Wyckoff SC and ST, very similar to what we saw through 2022 and 2023, but in lower time frame.
So we have multiple layers of Wyckoff accumulation here and looking bullish.
Obviously for this to be correct then BTC must not make lower lows or VET will slump lower.
If BTC does slump back to the 0.618 as described in a previous thread then VET may have a minor pull back.
And in my work I am confident Bitcoin does not have another high time frame wave down as many are calling for dreaming of 35K etc.
Thats not happening I think.
Those areas are gone.
And so VET is in prime buy position here with as little downside risk as you could hope for.
See you at the top 😼.
Not advice.
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But offering 20% discount to join my group 👍🏻
Lots of content every day with regular videos, 1:1 and chatroom 🚀.
Telegram Group: $40 for first month in January (then $50)✨.
Contact: t.me/dRends35
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