This is only my second published chart analysis so take this with a grain of salt.
BINANCE:VENBTC has been following it's trend nicely and looks to be finishing it's consolidation. The only time that BINANCE:VENBTClooks to be breaking it's trend is when BTC runs or falls. I've noted the BTC korea FUD between 4th and 6th of JAN.
We saw a similar trend between 10th and 17th of JAN, before the massive jump from .0004 to .0008.
Disclaimer: Past performance is not a reliable guarantee of future performance -- and if we get news similar to the recent Coinmarketcap adjustment, Korea/China FUD or some underwhelming partnership announcements we could see this fall back to the 0.78fib or .00045 - 0.0047 BTC
I am long on BINANCE:VENBTCand have multiple positions, however for this trade my entrance is .00055 -- I do not trade with stop losses and my target for this trade will be .0009 - .001 for 1st - 7th of Februrary.
Sentimental News? --------------------------------- CocaColaKid_OG on twitter has been posting cryptic Vechain predictions for months now and most (if not all) has come true with time. This new recent tweet (link) is believed to be hinting at a partnership with Luxottica, the worlds largest eyewear company. Buy the rumour, sell the news! --------------------------- ~ Rebranding by 26th-28th of Feb - twitter.com/vechainofficial/status/952027958058795009 ~ Multiple Non-Disclosure Agreements are ending, meaning Vechain can officially announce partnerships ~ Mainnet coming in June
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We bounced off of the support line drawn however we did see a $1000 USD loss on BTC overnight. I'm still confident in this trade but I am watching closely for a dead cat bounce which would cause a break down through the first support. I think this will happen if we see a bigger loss on BTC, or a parabolic upswing of BTC.
My current target are is 6-12 days away from now and I still believe we will reach this as long as Vechain keeps releasing partnerships etc. on it's way to it's rebranding.
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Another big BTC dip overnight has cause this to break trend. I will watch this chart for the next 8-10 hours and see if we re-join the previous trajectory.
I still believe in these targets but if BTC keeps falling all trades may be cancelled.
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I'm still very bullish on VEN but to be safe I'll be cancelling this trade. I believe in these targets and above positions but we have got to let the king (BTC) do his business before the alts recover
Entry reached & we're testing support --Bounced from 0.00055 to 0.00056. If we can get some volume into the market as we bounce off 0.0005 i'm confident in this trade.
Watch closely & if you're following this make sure that if we break the support, you cancel your trade.
Again, I'm long on VEN and have multiple positions but i'm still open to a drop back into the .0004 range
Watch closely & if you're following this make sure that if we break the support, you cancel your trade.
Again, I'm long on VEN and have multiple positions but i'm still open to a drop back into the .0004 range