✴️ VELOUSDT Bear Market Over? (Name Your Altcoin #60)There is no doubt that we underwent a massive bear market.
There is no problem with that, no question...
It is normal and after the bull market comes a bear market.
Now, after the bear market comes a bull market... Forever...
Now again, the question, is the bear market over?
That's the question right?
That's the only question we should be asking.
Let's see what VELOUSDT has to say.
The biggest bearish wave ever starts after the March 2021 peak, VELOUSDT All-Time High (ATH).
By mid-December 2022, more than a year and a half later, a low/bottom is hit.
The reaction after this low answers the question, is the bear market over?
Massive volume.
Super high, ultra-volume and 1,380% growth within 2 months.
Yes, this is the beginning of the bull market.
This type of action only happens after a bottom is in...
You can get a correction but it isn't likely to move below December's 2022 low.
And thus a higher low... Which would then lead to another bullish wave and this cycle repeats for years to come.
It is what it is...
But there is no reason to be mad or sad.
This is awesome.
This is great.
We are trading cryptocurrencies.
We are buying and selling cryptocurrencies.
We want the market to grow.
Even if you are a bear, learn to become a bull because the market is not only down, there is also up.
The bear market is over.
This is my translation of the charts.
Namaste.
Velo
VELO about to bounce?That token has been in a solid decline of >99% WOW
We see:
1) Price has reached 1.618 extension where price could reserve
2) Broke the bottom of the trend channel
3) RSI double bottom
4) RSI Bullish divergency
Lookout:
Expecting this to at least do a bear rally up to midline (2.5x 0.236 confluence) or top of channel (10x, nice confluence 0.382)
Hold my beer pls
----
No financial advice, do your own research, don't be stupid
VELOUSDT Technical Analysis⏳ Spot
💎 VELOUSDT has formed a Wedge pattern. After the rejection from the support zone and breaking above the major resistance it is expected to go higher and reach TPs
🌐 Tradingview
💵 Invest Only 5% of your Portfolio
🎳 Entry/Pullback now or from 0.214267 to 0.200376
☕️ TP1 0.229842
🍺 TP2 0.273200
🍻 TP3 0.328344
🍾 TP4 0.375911
🍷 TP5 0.422215
🍸 TP6
🍹 TP7
🎁 TP8
🚫 SL 0.200376 to 0.181854
Good Luck 🎲
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VELO/USDT Ascending TriangleVELO in USDT pairing is forming an Ascending Triangle. This is typically a bullish pattern. A breakout can send us up 10-20% (green box) area. On the other side, there is much resistance here at top of triangle. BTC also can consolidate some from its previous pump and make alts cool off, in the case BTC consolidates we can see VELO and other alts break down into the (red box) areas. Stop loss would be a violation of the bottom support trendline in the triangle. Right now we are anticipating strong momentum to push us through while understanding market conditions and knowing where to place SL.
VELO going long It is a small cap Alt with less than 100M VELO in circulation. Volatility is highly expected. From the fundamental perspective, VELO team are promising the moon but the reality is far from it. Therefore, I am trading it as a shitcoin and taking it for a ride.
From the TA perceptive, VELO is at rock bottom... very low volume at this stage too. But like all shitcoins, it'll have its day in this boiling bull run.
The RSI is moving upwards from the 40 level after maintaining that level for long.
My entry price is marked in blue, and my exit is set for 300% for now.