This is another one of my main coins. Added some around 100 satoshis when it dropped there on August 13th, 2018. It's still considerably up from there, however it's really struggling with volume, even though it seems to have broken out of its downtrend recently. To me, this makes it seem like this coin has a lot of bottom riding to do before it can finally start another major run. I'm slowly accumulating more with profits from other coins. This is neither a long or short setup. It's more of a chart for me to refer back to as things progress. I expect things to play out like the yellow or orange line. If we break down, the target is another support zone between 130 and 150. A breakdown would extend this potential Adam & Eve bottom even further.
In Conclusion:
Now is a great time to accumulate, but don't expect a meteoric rise soon. Volume can come in at any time though. There are extremely large sell walls keeping the price in check by accumulators at this time, most likely with lots of insider knowledge, as this is one of the most hyped coins out there with a VERY active online community.
This is is not a recommendation to buy or sell and I am not a professional financial advisor. Just another chart I'd like to update every now and then as this space develops. Follow along if you'd like! In the end, it's your choice to make whether to buy or sell anything.
-Victor Cobra
In Conclusion:
Now is a great time to accumulate, but don't expect a meteoric rise soon. Volume can come in at any time though. There are extremely large sell walls keeping the price in check by accumulators at this time, most likely with lots of insider knowledge, as this is one of the most hyped coins out there with a VERY active online community.
This is is not a recommendation to buy or sell and I am not a professional financial advisor. Just another chart I'd like to update every now and then as this space develops. Follow along if you'd like! In the end, it's your choice to make whether to buy or sell anything.
-Victor Cobra
Comment:
Notice how this thing is STILL going sideways at support. It doesn't seem to dip much, but it also doesn't really pump much either without falling back down. As I said, it's being held in place by enormous sell pressure. Once that lifts, it'll be clear for takeoff. It could go sideways for months though.
Comment:
Broke down a bit. Looks like it might ride my orange line. This means it can go sideways for another couple months at least. Make sure you use this time to stock up!
Comment:
Riding along the upper support from the previous wedge. No bullish momentum yet, but as I said, there probably won't be any for a while. Just more great buying opportunities for a coin that I think is poised to be an industry leader in the next couple years. 130-150 are great supports. If we don't break down further, we'll likely be sideways here (also conveniently around the 1 cent mark in USD) for a long time, unless conditions change suddenly.
Comment:
Should be a decent sized bounce soon. We just wicked off the broken diagonal resistance. If not, this will be a deeper and longer rounded bottom. This will probably take many months to complete. During this time, I expect investor sentiment to be quite low, but accumulation goes on....
Comment:
Looks like we may be headed down to 130. Buckle your seatbelts!
Comment:
Needs to bounce convincingly here to avoid 130 or lower.
Comment:
Made it down a little below 130 before some really big buys happened. The big players were watching that level, and even took it down a little lower to 128, to scare some weak hands. Based on my impression of the market, VET should slowly grind along bottom here for 1-3 months before showing any signs of a bull trend. This could change, but this bottom structure really looks like it wants to extend for a while.
Comment:
Just a random update, but this is STILL following the downtrend line from September. That's pretty awful.
Comment:
However, we have a decent chance for finally breaking out of it soon, finally.
