VEN was anticipated to be one of the biggest coins this month, but quite the opposite happened. Along with some FUD, fro ma TA aspect this double top could put it into the ground. I find this highly unlikely with this coin though. Do not try and catch a falling knife, WAIT for reversal confirmation, especially with the possibility of a BTC pull back coming. When confirmed, if confirmed, this could yield massive returns in a bull season. Be patient and keep an eye out!
@infbp22, I mean the risk-to-reward for a rebound after 18 straight red daily candles is insane for a coin with it's fundamentals at 22k level. Either you buy here or never
infbp22
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@panconpalta, Sorry, don't agree with that at all. I'd rather lose a bit of potential gain and wait for confirmation then buy a falling knife and pray for it to come back up one day. If you're under water on it, I'm sorry. If you're buying here, best of luck to you!
panconpalta
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@infbp22, No, I just bought in into this massacre. I like to watch other thrader's idea to see market sentiment. Saw in reddit someone told it was going to zero. Insta bu for me in this case. Going to scale in if if goes down to 13-15k or something. Positional trading here. Good luck!
infbp22
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@panconpalta, might want to gap your stop losses a bit between the trigger and sell. If it starts to cascade you're stop may not fill. Just be careful, I;ve seen people lose everything on a dumping coin and thinking the stop will save them.
panconpalta
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@infbp22, this fall is definately not a case for a trade with a stop loss. Scale-in, scale-out, risk-management and positional trading is the king
panconpalta
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@panconpalta, under 13k considered a dead coin though hehe
Maikuuuuuul
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My idea:
- Parabolic drop from 40k sats 0.02% to current level (22.1k at time of writing);
- Still hugely oversold. RSI of 13.9 on Daily, which is all time low for VeChain;
- Weak support soon, due to price action in January and .786 fib level). Let's hope VEN 0.00% will bounce on this area;
It seems like it is a great entry on this level. You can put your stop-loss on approx. 18k sats 0.02% . The upside is great.
This is not financial advice, just my opinion. DYOR!
infbp22
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@MichelVonk, i posted another chart shortly after, similar entry, different approach.