I don't own BINANCE:VIBEBTC but have made this chart for a friend. Before I begin, i'll note that i'm very new to publishing my charts and have been wrong in the past. This is not financial advice, but a trend analysis.
This is a very new chart with not a lot of data to go off so i've started the analysis after the huge dump and run up after the listings.
I see a lot of "BINANCE:VIBEBTC TO THE MOON!" posts on here but I just can't see it when looking at the charts and the market. VIBE has been downtrending since the 19th-21st of Jan, with a dead cat bounce on 25th of Jan which has probably trapped a lot of people in a bad position.
I can see two things happening in the next fortnight -- The trend continues to the previous lows and reverses OR we see a double bottom on the .236 fib line which may cause the trend to reverse early.
I will continue to update this as it goes.
Please comment if you have a differing opinion, or would like to add to the analysis.
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This is where we watch to see if the trend reverses on the .236 fib line -- if we do not see a double bottom here I believe we will head into my buy zone.
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Waiting for the correction to be over to buy back into anything - see BTC chart on my page
Great job, double bottom right where you had it. Thank you for this!
Chrxstxvn
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@primroseverglade, No problem at all. I am going to re-consider my entry point for this trade shortly. If you check my latest chart I think BTC has two chances to bottom out and I would like to see how it plays out because it's playing out quicker than I originally thought.