VET Critical Point - wait for it!

VETUSDT In this chart we have a support line that have been respected since Dec/20, and no candles closes below it. Right now we're testing it and it will be bad news if we breakdown, expecting further downside to $0.60 level.

On the other hand we have another trend line been respected since early Jun, breaking this downtrend line might take us to retest higher prices in short term.

For now my position is to wait until direction is clear, once we have a direction we wait for a retest then long or short it. Tight SL and less market exposure as possible.

Thank you for reading.

تعليق:

Breakdown has happened, although I don't expect it to hit below $0,60, best practice here in my opinion would be a Trailing SL and TP's every 1-2% or so.
In the end it all depends on BTC's behavior in the upcoming days.