Block v over sold. Will it flip on the daily 9 and reverse?
disclosure not taking a position. This is a super risky trade. Just wanted to give a update
So vee dropped from 26 sats all the way down to 8. If you bought that dip you're up 50% congrats and get out while you can, i would not be holding much longer. It is currently oversold that was way too dramatic of a drop. With sequential you do have a daily 9 which generally leads to a reversal but is Vee ready to break resistance at 26 sats? I would argue no. That's most likely the new top if it even makes it there on this reversal. This will most likely become a bull trap. So why will it possibly be a bull trap? well for one the range it was trading in before the drop has probably the longest it traded in some time. It did not want to go any higher so it reversed as predicted. So i see that range as very hard to break. If it wasn't it would have broken through. This drop also forced the 50 and 100ema to push down at a steeper angle and the longer and lower it stays is just going to accelerate the 200ema, its not going to take long for the 200ema to get to a average of under 30 sats. Also the volume is rather scary. Since May every single one of your higher volume days are all red meaning people would rather sell than buy. with all that said i do believe you are looking at a bulltrap that will lead to a new low within the coming months.
9's have the potential make great trades. if it closes above 15 it will most likely test the 18-26 sat range before falling again. its gonna have to break the 50 and 100 ema. I do expect a fight and to possibly reverse from there.
Be careful trading these shitters out here, most going to 0
So vee dropped from 26 sats all the way down to 8. If you bought that dip you're up 50% congrats and get out while you can, i would not be holding much longer. It is currently oversold that was way too dramatic of a drop. With sequential you do have a daily 9 which generally leads to a reversal but is Vee ready to break resistance at 26 sats? I would argue no. That's most likely the new top if it even makes it there on this reversal. This will most likely become a bull trap. So why will it possibly be a bull trap? well for one the range it was trading in before the drop has probably the longest it traded in some time. It did not want to go any higher so it reversed as predicted. So i see that range as very hard to break. If it wasn't it would have broken through. This drop also forced the 50 and 100ema to push down at a steeper angle and the longer and lower it stays is just going to accelerate the 200ema, its not going to take long for the 200ema to get to a average of under 30 sats. Also the volume is rather scary. Since May every single one of your higher volume days are all red meaning people would rather sell than buy. with all that said i do believe you are looking at a bulltrap that will lead to a new low within the coming months.
9's have the potential make great trades. if it closes above 15 it will most likely test the 18-26 sat range before falling again. its gonna have to break the 50 and 100 ema. I do expect a fight and to possibly reverse from there.
Be careful trading these shitters out here, most going to 0
Comment:
forgot to mention another reason why I think the pain is not done yet is when btc popped allot of alts did as well Vee did the opposite and dropped over 50% Its a strong signal people want out, they'd rather sell at a massive loss and make the gains back in btc then hodl and wait it out also a strong indicator speculation is long gone here
Comment:
Target hit. Question is does it reverse now? Seeing how cmc is reporting bittrex and Bitfinex’s volume as fake and only reporting chain x’s it is up about 7000% today.
It broke above the 50ema on the daily and is sitting above it. It peeked through the 100ema briefly. If it can close above the 100ema on the daily it can potentially test the 200 ema around 38 sat range.
This would be a get in and out kind of trade. It can fall back down as fast as it went up.
Also if cmc fixes the exchange ranking on it by tomorrow it will be down 99.9% just based off of cmc’s own metrics which would be a bearish. You won’t see as much exuberance as you do today
It broke above the 50ema on the daily and is sitting above it. It peeked through the 100ema briefly. If it can close above the 100ema on the daily it can potentially test the 200 ema around 38 sat range.
This would be a get in and out kind of trade. It can fall back down as fast as it went up.
Also if cmc fixes the exchange ranking on it by tomorrow it will be down 99.9% just based off of cmc’s own metrics which would be a bearish. You won’t see as much exuberance as you do today