VEN correction first, then up! Long term potential +300%
Updated
VeChain - Boy i love you so much <3 <3
Ok.
VeChain is a cryptocurrency that wants to incorporate Blockchain and RFID technology and apply these technologies into logistics and become a the key if not major supply chain blockchain for business and enterprises.
This is a coin that I am absolutely extremely bullish on, but first we need to take a step back.
Exuberance cannot and will not last forever so everytime we have a run up, we need to take a step back. This is a coin that has massive potential long term, and I strongly believe its a coin that WILL survive the cryptocurrency bubble burst.
VeChain has huge partnerships with companies such as DNV GL - major logistics company, Pricewatercoopers - one of the 4 biggest auditing companies in the world, and Renault - just to name a few. All of which are huge companies in their own right. Honestly this is a coin that you need to do research on and understand the greatness of it
Buy: 0.00036000 - 0.00050000 (50,000 sats only because I'm extremely bullish on this coin and i do want secure a position in case it doesn't correct lower)
Sell: Do you really want to sell this? But if you do: 0.00124000-0.00135000, and 0.00175000 - 0.00186000
Fundamentals:
1) Really, its hard to tell, VeChain has a bad habit of randomly dropping news out of the blue causing minor spikes in price - whales :(
2) Rebranding into VeChain Thor - by February 26th.
3) The many, many strong partnerships they have with BIG companies
4) Did I mention that they were able to be broadcasted onto China's CCTV? - a VERY restricted media broadcasting service where the government must approve of all news that is aired. They are called- WeiLian in Chinese (I can't post chinese for some reason) - VeChain in English.
Technicals:
VeChain had a beautiful 5 impulse waves up and now we are in the ABC corrective phase of the 5 wave supercycle. In the original 1st 5 waves making up the 1st impulse wave of the supercycle, VeChain had hit a high of about 52000 sats which was between the 1-1.618 fib extension, which then retraced into the 0.5 region where it consolidated for a while and then rocketed all the way up to 82000 sats which brought it just short of the 2.618 region and now we are retracing. Im still working on corrective patterns, but usually the end of a 5 impulse wave would retrace to about the 0.5-0.618 region. Which would be our buy zone. But sometimes 2nd impulse waves only retrace back to the 0.382 region which is where I'll start to add to my position and dollar cost averaging my way down.
Then using Fib extensions from the 1st and 2nd waves of the supercycle, I predict a tentative target of 1.0 and 1.618 in the longer term.
Ok.
VeChain is a cryptocurrency that wants to incorporate Blockchain and RFID technology and apply these technologies into logistics and become a the key if not major supply chain blockchain for business and enterprises.
This is a coin that I am absolutely extremely bullish on, but first we need to take a step back.
Exuberance cannot and will not last forever so everytime we have a run up, we need to take a step back. This is a coin that has massive potential long term, and I strongly believe its a coin that WILL survive the cryptocurrency bubble burst.
VeChain has huge partnerships with companies such as DNV GL - major logistics company, Pricewatercoopers - one of the 4 biggest auditing companies in the world, and Renault - just to name a few. All of which are huge companies in their own right. Honestly this is a coin that you need to do research on and understand the greatness of it
Buy: 0.00036000 - 0.00050000 (50,000 sats only because I'm extremely bullish on this coin and i do want secure a position in case it doesn't correct lower)
Sell: Do you really want to sell this? But if you do: 0.00124000-0.00135000, and 0.00175000 - 0.00186000
Fundamentals:
1) Really, its hard to tell, VeChain has a bad habit of randomly dropping news out of the blue causing minor spikes in price - whales :(
2) Rebranding into VeChain Thor - by February 26th.
3) The many, many strong partnerships they have with BIG companies
4) Did I mention that they were able to be broadcasted onto China's CCTV? - a VERY restricted media broadcasting service where the government must approve of all news that is aired. They are called- WeiLian in Chinese (I can't post chinese for some reason) - VeChain in English.
Technicals:
VeChain had a beautiful 5 impulse waves up and now we are in the ABC corrective phase of the 5 wave supercycle. In the original 1st 5 waves making up the 1st impulse wave of the supercycle, VeChain had hit a high of about 52000 sats which was between the 1-1.618 fib extension, which then retraced into the 0.5 region where it consolidated for a while and then rocketed all the way up to 82000 sats which brought it just short of the 2.618 region and now we are retracing. Im still working on corrective patterns, but usually the end of a 5 impulse wave would retrace to about the 0.5-0.618 region. Which would be our buy zone. But sometimes 2nd impulse waves only retrace back to the 0.382 region which is where I'll start to add to my position and dollar cost averaging my way down.
Then using Fib extensions from the 1st and 2nd waves of the supercycle, I predict a tentative target of 1.0 and 1.618 in the longer term.
Note
BTW guys, feel free to critique my TA. Go ahead and grill me :) i am welcome to any criticisms.
Trade active
BUY ZONE!!!!!As predicted, VECHAIN is now in the buy zone. 50k proves to be a very strong resistance, it has pierced through 50k and is now in the buy zone. Consider laddering your buys all the way down to 36k sats.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.