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Vertcoin/Bitcoin (VTC/BTC) at Triangle Support

VTC/BTC is trading at a triangle support with slight bullish bias. Let's take a look at a simple trade plan with reward to risk assessment.

VTC/BTC 4H Chart

  • Since the bullish run in the second half of October VTC/BTC has been consolidating, specifically in a triangle. 
  • There is a slight bullish bias because price has mostly stayed above the 200-period simple moving averages (4H chart).
  • Now as it trades near support, it could be an opportunity to buy from a reward to risk perspective.
    Trade Plan:
  • Entry 0.00056000
  • Stop: 0.00049400 (-11.79%)
  • Target 1: 0.00065000 (+16.07%)
  • Target 2: 0.00075000 (+33.93%)
  • Target 3: 0.00089000 (+58.93%)

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