VET is currently in a bigger ABC correction and approaching the final leg down of the C wave, after which we will be looking to buy and hold Vechain for the long term.
We have the -0.27 fibonacci at $0 which is very unlikely. However, if price drop close 0, it should be seen as a buying opportunity. There's a lot of hype behind VET so it is unlikely that it will die anytime soon.
Short Term SELL Trade Idea:
- Watch for bearish price action within the current bear flag
- Enter with stops above the bear flag
- Target the 0.50 to 0.60 region
Long Term BUY Trade idea:
- Watch for one more drop back down to the 0.06 level
- Enter with stops below that structure level
- Target the wedge resistance as first target
- Target ATH as second target.
- HODL the rest
Let us know what you think!
We have the -0.27 fibonacci at $0 which is very unlikely. However, if price drop close 0, it should be seen as a buying opportunity. There's a lot of hype behind VET so it is unlikely that it will die anytime soon.
Short Term SELL Trade Idea:
- Watch for bearish price action within the current bear flag
- Enter with stops above the bear flag
- Target the 0.50 to 0.60 region
Long Term BUY Trade idea:
- Watch for one more drop back down to the 0.06 level
- Enter with stops below that structure level
- Target the wedge resistance as first target
- Target ATH as second target.
- HODL the rest
Let us know what you think!