SUMMARY
VeChain (VEN) has not entered into its 4th correction month and the whole time has been spent on patterning out a downward symmetrical triangle. The prior impulse of five waves did not have an extended 5th and so the retracement is likely not to reach the prior wave 2 level.
The symmetrical triangle is best labeled as ABCDE (red) waves and each has a subwave of abc three waves. However, there are ample instances of when price breaks out at wave D and not complete to wave E. Given that the MACD has breached the upper blue resistance line, there is preference for a D wave breakout. Regardless, even if the E wave is completed, the resulting breakout would have near same destination.
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