Let's take a look at Vechain on the daily with Ichimoku
After breaking out of the descending triangle Vechain has been going up and is now fighting a very importent resistance level. At the moment a gravestone doji is forming at the resistance, meaning a bearish reversal could be happening in the near future. According to fib extension, price tried to break the 0.382 level but got rejected. If price can break the 0.382 the next level should be between .15878 and .16933 cents.
What Ichimoku shows:
-Price is above Tenkan Sen, Kijun Sen and Sankou Span A and B, meaning Vechain is bullish in short, midterm and longterm.
-Chiko Span is above the candles, meaning bullish market momentum.
-Tenkan Sen, Kijun Sen, SSA, SSB are up, meaning uptrend in short, mid and longterm.
-Kumo has a nice thickness. That gives a more stable uptrend.
So by Ichimoku confirmations, everything is looking good. But will it be a continuous bullish N-wave after breaking 0.382 fib level or will it bounce back to the Tenkan Sen or Kijun Sen.
What Ichimoku shows:
-Price is above Tenkan Sen, Kijun Sen and Sankou Span A and B, meaning Vechain is bullish in short, midterm and longterm.
-Chiko Span is above the candles, meaning bullish market momentum.
-Tenkan Sen, Kijun Sen, SSA, SSB are up, meaning uptrend in short, mid and longterm.
-Kumo has a nice thickness. That gives a more stable uptrend.
So by Ichimoku confirmations, everything is looking good. But will it be a continuous bullish N-wave after breaking 0.382 fib level or will it bounce back to the Tenkan Sen or Kijun Sen.