✴️ VeChain Looking Pretty Good (Name Your Altcoin)

٢١ أكتوبر ٢٠٢٣

Let's dive right in as I feel that we've been going through many of these charts together...

If this is the first trade idea you read, please keep in mind that I've been writing dozens of these lately and so I tend to get straight to the point, bear with me.

This is requested by one of you and that's why it says "Name Your Altcoin" in the title.
Not because I am taking requests here but because it is part of that series.
You can make your own requests in the Bitcoin post.

VeChain (VETUSD)

We have lots of action, lots of signals, lots of data to look at and consider.
It is always like this... We have short-term, medium and long-term.
We have the moving averages, the volume, the oscillators, the candles, the waves, market sentiment, market cycle, correlations with other markets, correlations within the same market on and on...

What we are most concern about is confirmation, mostly.
Will VeChain finally move up?
How is the chart looking?

Sometimes we are concerned with the targets, the next target but this comes after bullish confirmation has taken place.

I like VeChain based on this close up:

We can see a higher low with today's candle breaking above EMA50, together with the break of a classic consolidation pattern and the blue arrow for a clear view of whats coming. This whole mixture confirms the bullish bias medium-term.

When we zoom out and consider the whole chart, we can see that VETUSD is trading above its December 2022 bottom low, which supports the short/medium-term bullish signals above.

Personally, for me that's enough.
Since most of the time these charts are used for trading, we only need to define a stop level, buy and hold. This is not financial advice of course but that's how traders do it.

➖ If it goes down and the stop level criterion is met we close at a loss.
➖ If it moves up... You know the drill; That's a winner, enjoy the profits and then comeback for more.

All these trade ideas are shared for informational and educational purposes only.
You are responsible for your own actions, we are all adults.

With that said... I really appreciate you, your encouragement, your comments and your continued support.

Namaste.