VARAUSD - Bullish Triangle Pattern ConfirmedWith newly formed bullish order blocks and yet another very odd change in market structure this afternoon, Immediate breakout is likely.
VARAUSD trade ideas
MATICUSD vs VARAUSD Correlation MapVARA dumped for literally no reason other than traders are taking losses and FUD. The upcoming correction estimate puts target price of rebound at roughly $0.024 right now, this could increase substantially if MATIC pumps, which honestly may happen overnight considering traders that took losses on VARA are not permitted to reinvest in VARA thus they will no doubt choose correlated assets and there are just so many to choose from with POLYGON being somewhere at the top of the list.
I am not a financial advisor. Trade the range. Ignore the FUD. Stay safe my friends.
VARAUSD Remains Bullish After BTC PullbackPOLYGON is on the left chart. VARA is on the right chart.
These assets remain tightly correlated with VARA price movements still very exaggerated.
VARA has pulled back with BTC and impacted the large order wall exemplified by the green box on my chart. I realize that the price pulled back below $0.02 but this is of no consequence, price action is still within the range albeit at the bottom of the range; the question is what do you do when price action reaches the bottom of the range? Do you buy out of greed or sell out of fear. That is not up to me but being the rational man that I am I am not going to dump the market with my massive accumulation when I can easily buy more coin and lower my cost average. Once I am aware of a range I trade the range. This is the bottom of the range and here I watch for wicks. If there is a wick, good, if there isn't then all is well. Is there a possibility that the price may fall even further? Yes, always a possibility but the entire market would have to go with it. There is no rational reason for VARA to take a nosedive by itself. It is no longer in the initial pump zone following the Coinbase listing and is instead now correlated with other similar assets, SHIP, SPELL, POLKADOT, MATIC to name a few.
VARAUSD - Actual Price Prediction Correlation BasedAfter reviewing all correlated assets including POLKADOT, MATIC, and others I have concluded that this circled region is the actual price of VARA once all correlation models settle. This means that at current price VARA is severely oversold based upon not only market structure but correlated asset data.
I am not a financial advisor, trade safely my friends.
MATICUSD vs VARAUSD Correlation / Catching Long OpportunitiesAs you can see, MATIC is up about 3% when compared to VARA. Statistically speaking, the market owes VARA 3% and this should be fulfilled based upon the correlation link between this assets.
At this moment, one could spot a long opportunity in VARA, if one was open to such minor risks.
I am not a financial advisor, stay safe my friends.
VARAUSD - Order FlowVARA and other correlated assets are rangebound. These two order walls which encapsulate the majority of the altcoin price action is all that matters since assets are range bound until either of these order walls dissolve.
Some things to note: The upper order wall is being tested more often than the lower order wall. This is bullish however the severity of the pull back off of resistance is of some concern when a large wick does not form quickly.
I would like to see this weekly candle to deliver at least an 80/20 green candle or larger, this would give us either a flipped thors hammer or a long indecision candle. I think that a bullish engulfing candle could result but we still have a few days left and much relies upon the DXY / BTC relationship. BTC looks very toppish at this time however instead of a huge pullback the market anticipates a long consolidation above the trendline crossing just above the all time high.
The fake news is already trashing the economy and trying their best to set up a bearish scenario for the Trum administration which I believe is why our indicators are flagging exaggerated chart patterns as market manipulation. While traders themselves may not be manipulating the market the fake news can move markets and do quite often I think.
VARAUSD Breakout InevitableSee lower time frame movement prediction as volume picks up. The order wall currently supressing price to the current bear flag is dissolving quickly at the upper level of the micro channel. If demand continues which I believe it will, we will have another retest of $0.035 - $0.045 region of the map where major trapped longs exist.
VARAUSD - Updated Technical AnalysisAs anticipated, price action broke through the middle band of the bollinger bands on the weekly and sadly did not produce a wick. Price action rejected off of the lower band placing us in a range bound movement again. While overall movement is sideways, with two red candles preceding this a green candle is stastically more likely and overnight on Sunday (tonight) will hopefully yield some movement out of USDX to the downside as I anticipate that this most recent market volatility is due to the over-active Federal Reserve board trying to shake things up prior to Trump taking office. It is no secret that the Board and Donald Trump do not see eye to eye and do not like each other. The thing is, these markets are hitting record volumes monthly. The entire market has pulled back which is a normal knee jerk reaction to the Fed loosening up on printing. I am in the banking sector professionally and know that the high rates have caused banks to fail and did very little to help slow inflation anyway. I do not foresee the rapid lowering of interest rates to do very much damage over the long run considering oil prices can be weaponized by the whitehouse to target high inflation, simply by making fuel dirt cheap inflation will go away. I would say, lets keep watching these order walls that are just below and above current price action within whatever order flow program you choose and lets see if that lower order wall moves up. I have a gut feeling that it is going to move up and when it does the price will level up.
VARAUSD /USDX Negative Correlation - VARA Still RangeboundFear continues to trap price action within this sideways accumulation range. Sunday evening after the markets reopen USDX will prove either a very bearish pullback when traders sober up from the Fed announcement. Over the past few months, the Federal reserve has lowered rates a few times, each time causing the US dollar to rally against other currencies and pressing risk assets in the crypto market downward. With Bitcoin being one of the only ones to be able to break free from this negative correlation. This pattern is going to cease very soon. This I believe is because the Federal reserve is abusing its power in an attempt to increase inflation before President Trump takes office in January. It isn't going to work just as increasing the rates didn't have much of an effect on the economy. Investors are always fearful whenever the Federal reserve is as active as they are now, especially with the transition of power in the United States occurring next month.
VARAUSD Large Movement Incoming - PredictionSee my chart I put comments therein. That WICK that I needed to see is forming on the weekly. I did go ahead and publish a low time frame for the trolls in here who cannot seem to get it through their thick skulls that I am not a day trader. What am I going to do with the pennies you are making. This little channel is an accumulation zone and I am buying here, there is nothing to sell at this level. People who are selling here are absolutely nuts in my opinion. Sell low, buy high. Yah no thanks.
VARAUSD Lower Time FrameSince a lot of the trolls here love the lower time frames, here is one for you guys.
A chance not definite of a reversalMany thanks to @fritbjorn on his analysis earlier comparing this asset to MATIC. Here we have a long wick candle forming very near a key level and a Fair Value Gap. We also have the CCI close to -200 alluding to being oversold and a price reversal. We also have the bottom indicator flashing green saying the bottom is in or close. Just keep and alert eye for *possible* price reversal. Pray for a miracle.
VARAUSD Weekly AnalysisThe wich off of the center B Band is developing nicely with a few days left in the weekly candle. I anticipated this pull back due to resistance from trapped longs and upper B Band psychological level. Next weeks candle will likely reverse and develop into a massive green candle, this time absorbing the remaining trapped longs at the $0.04 level. The center B Band is a target long position with next target accumulation zone around $0.045 and $0.11 depending upon BTC and USDX movements.
VARAUSD - Bullish Trend - WeeklyAs you can clearly see the B Bands have tightened. Price action has already hit the upper band resistance as it is supposed to and support of the center band was previously confirmed. Price action is headed toward the center B Bands where it will likely confirm support again and break out. This sums up the accumulation phase on the weekly chart. Sorry to those of you who are staring at the 4 hour, that cannot be done on assets like this. We are only concerned with the big picture which is that this Asset pumped all the way up to the top of the B Bands and retreated. This is unavoidable even for Bitcoin. Understandably VARA is going to pull back more and more often, this is why swing trading the asset is such a joy. All I can tell you is small moves on the lower time frames are technical pointers but are in no way the direction of this coin. I mentioned previously that this weeks candle would likely be red and when I said that it did not mean the price is going up, it means exactly what it says, a downward move.
VARA Bullish SqueezPrice action has been in a bullish squeeze since about 3am CST this morning. The bands squeeze prior to price explosion. Could go up or down.
VARA - Bullish Trend Reversal - Further AnalysisTrapped longs are regions where traders called a false bottom and went all in while the market continued to sell. The current actual bottom is indicated and called due to a trend reversal, heavy increase in buying pressure volume, and a clear change in market structure. There are currently trapped shorts in this region where stop loss and fear traders orders were filled and gobbled up by consumer, institution, and whale traders. This asset has a very low market cap, if and when the trapped longs are cured and price action breaks through this region of the chart greed will overtake breakout traders who will go all in. This hasn't occurred yet due to several massive pullbacks from the $0.04 mark. This asset has several psychological price points of approximately every half cent currently hitting .03 and .035 psychological resistance. Contracts are opening and closing in short periods of time partially due to lack of faith as well as automated trade activity. It will be interesting to see what happens overnight Sunday into Monday morning.
VARA - Further AnalysisI've gotten quite a few messages from people wanting to know why I am bullish on VARA right now. Look at my chart, this is why. This asset has been trying to break out for months and it actually isn't falling it is in a bullish squeeze. This regression trend in the chart below is the top and bottom of the range (it is an approximation). This is also called an accumulation zone. If someone were to have averaged in throughout this regression trend the center line shows the average price for all coin bought.
VARA 1-HOUR - INVERSE HEAD AND SHOULDER PATTERNThis is what an inverse head and shoulders pattern looks like. Sadly, on the 1-hour the resulting pump is often small, but it can sometimes turn into a significant rally. This is a reversal signal on a low time frame.Inverse head and shoulders pattern on the 1 hour timeframe
VARA - USD Bullish Whale AccumulationPlease see the chart for illustration. This asset remains in a whale accumulation sideways trend. Bollinger bands were compressed leading to a price action squeeze leading up to the initial breakout from above $0.025 with many long positions opening between this price point and $0.03 placing the local bottom at just below $0.03. Consumer and whale activity still indicates the bulls are in control of this market. I have increased my target to $0.15 pending breakout above the $0.10-$0.13 range where a larger set of trapped longs exist. Trapped longs are traders who locked in on a price point but failed to execute a stop loss. When this happens investors will try to hang on long enough to allow for the price to return to near their price in order to break even or take a small loss. This is incredibly risky considering once price action returns to that price point it is more likely to continue going upward for a time as greed overtakes their fear.
VARA Eyeballing $0.13 Breakout, Then SupportVARA thus far has been in whale consolidation which is the initial stage leading to a big move. Breakout above $0.13 is likely where support will be found for additional leg up to higher time frames.
You Smell That?The turd is smoldering..
Now lets end the month with a bang!
Note: Logarithmic Scale Chart
VARA USD: Bullish Deep Crab PatternVara Network has entered in the PRZ (Potential Reversal Zone) of a bullish deep crab pattern.
Vara has also posted weekly bullish divergence for the first time since the projects existence.
Looking for a 0.50 retracement from the downtrend to reach levels around:
0.0480-0.05
Stoploss: 0.0160
