I am officially raising the banner of secular bear against Vechain, meaning there will be more sellers than buyers in the coming price action cycle.
I have laid out on the chart above my plan of action to slowly accumulate this cryptocurrency. This is what contrarians do: wait for the wash trades to play out, while timing tiering buys on the low end. I see a path for Vechain to break a downtrend in about April, barring a total crash in the mid term, or an acute price breakout higher in the short term. This is a wild one with a ton of good press but the possibility for seemingly done-deals to break apart. That would be a total disaster for the price movement.
In this way, I predict investors to make an orderly exit and capitalize on the current hype train, selling large amounts of VEN to small investors; a net negative for price. While this hype train begins slowing down, I will be waiting at the next train stop with bid orders placed in total composure. This is what I do in all trades. I do not chase after the train. If I am totally wrong on this one, then I will change the analogy to one about me missing the boat. Fortunately there are many fish in the sea and VeChain is just another fish.
Furthermore, I will continue to read the paper - as I wait for this train - looking for headlines such as, "DNV CL and VeChain Set New Standard for Supply Chain Management" or, "DNV CL Delayed In Switch Over to Blockchain Logistics Ledger, VeChain." This will guide my projections going forward. Follow this post for updates.
In short, I like VeChain and see the potential; but am not desperate to ring out what is left in the hype. For instance, it is clear that investors dropped their bags at the door before the January 24 press conference, as is seen on the chart above. This is the news that was released on that date: cdn.vechain.com/vech...rebranding_event.pdf
On the other hand, we have the traditional b*llsh** going on over at the VeChain Reddit echo-chamber & "crypto"-community (crypto as in secret-Whale sellers creating bullish hype while cashing out). www.reddit.com/r/Vec...d_reach_100_in_2018/
Some exuberant users are calling for the current price of $6.00 to move to $100 by year end. This is quite a claim, an often spouted HODLER talking point and a seldom seen fortuity. After reading the post above many might conclude, "Hey, might as well put in a few bucks," but it takes more than a HODLER's talking points to get me involved.
I will be following this proposed trade closely as a continuation of my former short call chart, which I absolutely got BTFO on. I have a feeling my predictions will be accurate going forward as I figure there is plenty of air on price for the low end. I like being the lone trader calling for practical price action after a major pump, rather than the dumbo with a few bullet points calling for an immaculate high. We'll see who is prudent.
I recommend no action on VeChain as of 1/30/2018.
Disclaimer: Do not take this as a competent or sane rambling. This information is not to inspire any action, whatsoever.
I have laid out on the chart above my plan of action to slowly accumulate this cryptocurrency. This is what contrarians do: wait for the wash trades to play out, while timing tiering buys on the low end. I see a path for Vechain to break a downtrend in about April, barring a total crash in the mid term, or an acute price breakout higher in the short term. This is a wild one with a ton of good press but the possibility for seemingly done-deals to break apart. That would be a total disaster for the price movement.
In this way, I predict investors to make an orderly exit and capitalize on the current hype train, selling large amounts of VEN to small investors; a net negative for price. While this hype train begins slowing down, I will be waiting at the next train stop with bid orders placed in total composure. This is what I do in all trades. I do not chase after the train. If I am totally wrong on this one, then I will change the analogy to one about me missing the boat. Fortunately there are many fish in the sea and VeChain is just another fish.
Furthermore, I will continue to read the paper - as I wait for this train - looking for headlines such as, "DNV CL and VeChain Set New Standard for Supply Chain Management" or, "DNV CL Delayed In Switch Over to Blockchain Logistics Ledger, VeChain." This will guide my projections going forward. Follow this post for updates.
In short, I like VeChain and see the potential; but am not desperate to ring out what is left in the hype. For instance, it is clear that investors dropped their bags at the door before the January 24 press conference, as is seen on the chart above. This is the news that was released on that date: cdn.vechain.com/vech...rebranding_event.pdf
On the other hand, we have the traditional b*llsh** going on over at the VeChain Reddit echo-chamber & "crypto"-community (crypto as in secret-Whale sellers creating bullish hype while cashing out). www.reddit.com/r/Vec...d_reach_100_in_2018/
Some exuberant users are calling for the current price of $6.00 to move to $100 by year end. This is quite a claim, an often spouted HODLER talking point and a seldom seen fortuity. After reading the post above many might conclude, "Hey, might as well put in a few bucks," but it takes more than a HODLER's talking points to get me involved.
I will be following this proposed trade closely as a continuation of my former short call chart, which I absolutely got BTFO on. I have a feeling my predictions will be accurate going forward as I figure there is plenty of air on price for the low end. I like being the lone trader calling for practical price action after a major pump, rather than the dumbo with a few bullet points calling for an immaculate high. We'll see who is prudent.
I recommend no action on VeChain as of 1/30/2018.
Disclaimer: Do not take this as a competent or sane rambling. This information is not to inspire any action, whatsoever.
Comment:
This chart is walking right on the Gann lines. Looks like a breakout above 0.00064 would kill my chart. We’ll see. All about volume here. Stagnant volume and price falls at this juncture.
Comment:
The trend I identified continues. This trade will be very good as the whole market is getting punished. This will be a very good buy later on.
Comment:
I was pretty much dead on. But this char says we still have some leveling out to do and price will continue to go down or sideways.
Order cancelled:
It held on the line and now it needs a thorough look at to see if it is a good buy once again. It just might be...
