VET broke out last week with some nice volume coming in on the buy side.
Price is retesting the breakout level today for the second time, confluent with the .382 fib that markets the top of the Pump Chaser Zone (PCZ).
A tight setup presents itself if a trader choses to place a stop loss just below the PCZ at 89 sats. Alternatively, one could loosen their stop and size down to maintain the same overall risk to portfolio.
We're eyeing the 168 sat level, market by a 1.618 fib extension and a .618 range retracement as a TP1 area.
Bitcoin is coiling up in what can best be described as a rising wedge. If it breaks hard either way, one should expect a setup like this to get blown out. Risk management in altcoins vs. BTC is of utmost importance right now! As ever :)
Price is retesting the breakout level today for the second time, confluent with the .382 fib that markets the top of the Pump Chaser Zone (PCZ).
A tight setup presents itself if a trader choses to place a stop loss just below the PCZ at 89 sats. Alternatively, one could loosen their stop and size down to maintain the same overall risk to portfolio.
We're eyeing the 168 sat level, market by a 1.618 fib extension and a .618 range retracement as a TP1 area.
Bitcoin is coiling up in what can best be described as a rising wedge. If it breaks hard either way, one should expect a setup like this to get blown out. Risk management in altcoins vs. BTC is of utmost importance right now! As ever :)