VELO - The Last Coin Standing (Structure)
Updated
I'm buying as close to the previous low as possible.
The structure of this one remains intact, and it has finally moved above the 50MA. Few assets have achieved this since the altcoin sell-off, and many are still struggling to even touch the MA. This one stands out with a superior market structure.
I don’t anticipate significant moves yet, as
BTC is still having difficulty holding above key levels. I expect some sideways action for the next few weeks, with liquidity potentially picking up around mid to late September.
The pivotal area is the take profit level. However, if it surpasses this level in the near future, it would signal a clear buy.
For now, let’s brace for some choppy conditions as we approach the final stages of this sideways movement
The structure of this one remains intact, and it has finally moved above the 50MA. Few assets have achieved this since the altcoin sell-off, and many are still struggling to even touch the MA. This one stands out with a superior market structure.
I don’t anticipate significant moves yet, as
BTC is still having difficulty holding above key levels. I expect some sideways action for the next few weeks, with liquidity potentially picking up around mid to late September.The pivotal area is the take profit level. However, if it surpasses this level in the near future, it would signal a clear buy.
For now, let’s brace for some choppy conditions as we approach the final stages of this sideways movement
Order cancelled
I was too greedy with the entry. Had I followed my thesis on the coin's strength, I would have entered earlier instead of waiting for lower prices.
It’s been an amazing move for anyone who got in. Now is the time to take some profits or exit if necessary.
I’ll continue to monitor and update this one, as it still shows strong potential.
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