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VRA update
VRA has held up well over the last week, we touched the 4HR demand at 0.05 as expected and bounced nicely. Unfortunately the recent fud and BTC price action killed off the Axie and ICON news pump but we're still looking good here.
I would have liked to have seen VRA close either inside or above the Daily OB but with BTC doing what it's doing nothing is certain at the moment.
If BTC breaks down I suspect we'll retest 4HR demand and hopefully no lower, if it does (IF) we definitely need to see the 0.618 Fib hold which would be a retest of the previous high but I only see this happening if we see a larger capitulation of the market as a whole. I'm not expecting anything like that though.
Once Veracity S/R flips the Daily OB we should be good to go to break out of this bull pennant and make moves towards 0.12 USDT.
Good luck and happy trading.
I would have liked to have seen VRA close either inside or above the Daily OB but with BTC doing what it's doing nothing is certain at the moment.
If BTC breaks down I suspect we'll retest 4HR demand and hopefully no lower, if it does (IF) we definitely need to see the 0.618 Fib hold which would be a retest of the previous high but I only see this happening if we see a larger capitulation of the market as a whole. I'm not expecting anything like that though.
Once Veracity S/R flips the Daily OB we should be good to go to break out of this bull pennant and make moves towards 0.12 USDT.
Good luck and happy trading.
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