VETBTC Price Analysis – June 13
The pair has been trading within a channel view and waiting for a breakout to the downside of the apex level, it opens as the closing price and it’s unable to hold early session gains. We expect a follow on movement with a temporary potential gain to the upside.
Demand Level: 0.00000143, 0.00000124, 0.00000104
Supply Level: 0.0000090, 0.0000086, 0.0000080
VETBTC: Long term trend: Bearish
VETBTC has had an interesting price breakout from its bottom. This scenario is invalid if the price goes back to the previous breakout levels so this is a natural place for a reversal level at 0.0000086.
Thus looking at the daily RSI trend analysis, it only depicts a technical forecast from the indicator showing that it is going down to short term supply level at RSI level 40 close at an oversold level.
VETBTC Short term trend: Bullish
The pair for the day may start a new bull trend in a short term move and challenging the demand levels at 0.0000096 and making approximately a 10% increase trading above the double bottom as seen in short term 4-hour chart.
This is thus giving room for more than 100% growth potential for the pair as seen on the chart technical levels. This push for the upward move is long awaited for by risk-averse traders.
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