Long
Vechain out of the gate
In January I got pretty burned out trying to trade Vechain. I made an incorrect call that VENETH would not drop below 0.0054. In addition, I made no effort to sidestep the drop in Bitcoin by going to Tether or something. In order to stop trading losses, I stopped trading and just held VEN, because I strongly believe in its fundamentals.
Looking back and zooming out, this has been just a rounding bottom. I would say the drop was plenty to clear sentiment out of the entire crypto space.
I actually charted this yesterday, before seeing today's big candle. With the rebranding nearby and more announcements in the pipeline, I continue to think Vechain is the most bullish crypto to hold. The chart above is one possible path this rally could take, eventually forming a cup & handle. The handle might happen according to the 27-day cycle. The cycle behavior is far from proven, but it will be interesting to watch it play out.
Just about anywhere you look, cryptos are rallying after a scary correction, sparked by the surprise high CPI. Against ETH, VEN is one of the strongest out of the gate. I also see WTC having strength. Lots of interesting looking bases (IOTETH, EOSETH) and flags (XRPETH) forming, and breakouts (ZCLBTC). I'm just gonna continue holding this.
Looking back and zooming out, this has been just a rounding bottom. I would say the drop was plenty to clear sentiment out of the entire crypto space.
I actually charted this yesterday, before seeing today's big candle. With the rebranding nearby and more announcements in the pipeline, I continue to think Vechain is the most bullish crypto to hold. The chart above is one possible path this rally could take, eventually forming a cup & handle. The handle might happen according to the 27-day cycle. The cycle behavior is far from proven, but it will be interesting to watch it play out.
Just about anywhere you look, cryptos are rallying after a scary correction, sparked by the surprise high CPI. Against ETH, VEN is one of the strongest out of the gate. I also see WTC having strength. Lots of interesting looking bases (IOTETH, EOSETH) and flags (XRPETH) forming, and breakouts (ZCLBTC). I'm just gonna continue holding this.
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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.
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.