VeChain (VETUSD): Last Impulse before a bigger correction? 📈🤔

Let's take a closer look at VeChain VETUSD on the 1-hour chart. We're continuing to hold Wave 4 well at $0.025. Since then, we've developed a 5-wave structure leading to our overarching Wave ((i)). Now, we're anticipating the formation of Wave ((ii)), which should fall within the 50 to 78.6% range. Dropping further down would significantly decrease the likelihood of this still being a Wave ((ii)).

Following this, we expect an uptick for Wave 3 to at least $0.035, representing an increase of nearly 30 percent. This is the minimum we're projecting for our Wave ((iii)).
VeChain Trade Update : Successful Short-Term Strategy 💵

Our short-term VeChain trade has performed excellently, rising 50% since our entry!

We've taken profits twice and now hold it merely as a Moonbag. It'll be very interesting to see which other Altcoins will follow this trend. After completing Wave ((iii)), we anticipate a pullback with another potential entry point for those who haven't yet invested in VeChain. Be cautious and avoid buying the top at all times; it might work 2 out of 10 times, but it's not worth the risk!

We've witnessed an incredible surge in VeChain. From our entry point at Wave ((ii)), the peak was an impressive 87%, and currently, it's holding gains around 60%. We now believe that we've reached the apex of Wave ((iii)) and are entering Wave ((iv)). Consistent with typical patterns, this wave should retract to between the 38.2% and 61.8% levels at most.

At this juncture, we're considering placing a long position and adjusting our stop loss to just below our second take profit level, specifically at $0.03474. Looking ahead, we anticipate a potential rise towards $0.06.

Trade closed: target reached:
VeChain #VETUSD Trade Update

VeChain stands out as an exception in the current market dynamics, showing remarkable resilience and growth. Since our initial entry, we've seen an approximately 80% increase in value, and from our second entry just a week ago, we've already seen a 20% rise. :Rocket: This contrasts sharply with the broader cryptocurrency market, which is either consolidating or experiencing sell-offs. VeChain's recent 11% surge is particularly noteworthy, attributed to news of a significant partnership, underscoring its potential for further gains.

However, it's crucial to acknowledge that we might be approaching or are possibly at the conclusion of Wave 5. Detailed analysis on the 4-hour chart suggests the completion of all waves, indicating we might already be transitioning into the corrective A, B, and potential C waves leading to Wave (2). This next phase, Wave (2), is particularly significant for us as it presents a strategic entry point. We anticipate a retracement of VeChain in the coming months between 50% and 61.8%, i.e., between $0.0325 and $0.028, with our stop-loss set below the Wave 4 level at $0.025.

While there's potential for further upward movement, it's essential to remain cognizant of the market's unpredictability and the possibility of exceptions to the trend. Our strategy involves taking profits to avoid greed and setting new entries if the price continues to ascend. Regardless of the market direction, we plan to continue securing profits without liquidating our entire position, ensuring we capitalize on VeChain's performance while mitigating risks.

We take 50% out of the second entry and we are moving our stop loss to break even. -> Trade is running risk free and in profit

On the 4h chart, you can see, that Wave (2) could be anticipated as the next movement.

At our last entry into VeChain, it was anticipated that a Wave ((iv)) would be developed, followed by a Wave ((v)). However, it has now been concluded that this approach makes less sense, and it appears that Wave 5 was already completed with Wave (1), leading to the development of an Expanded Flat. This Expanded Flat is likely the subordinate wave structure of the correction wave (2). Consequently, the stop loss of the second entry will be adjusted to just above $0.0445, ensuring profits are secured and indicating a successful outcome thus far.

Yet, it is expected that there is still a downward journey for VeChain to complete this wave (2). The current assessment that the first cycle has already concluded remains valid, unless an immediate surge beyond the 138% level occurs before dropping below the level of Wave ((a)). If such a drop happens, the scenario remains valid, and a declining VeChain is anticipated.

From the first short-term entry, a maximum profit of 99.7% was achieved in just about three weeks, an exceptionally pleasing result. Nonetheless, it's essential to adjust the stop loss for both the second trade and from the first trade, positioning them below the level of, as illustrated, Wave ((a)) or Wave ((iv)) at $0.04051. This adjustment ensures both stop losses are well into profit, guaranteeing a positive outcome from the trades.

We move the stop loss from our first entry to $0.04051 and the stop loss from the second entry to $0.0445

4H chart as part of the analysis too

Trade closed: stop reached:
🔥 Trade Update Short-Term 🔥


Both our new stop losses got stopped out yesterday during the sell off. We are more than happy with the whole performance on VET and we are going to search for more Setups in the future. For now we are still looking for our long-term setup to get filled ✅

Enjoy the profits 💰
For VeChain, we remain convinced that we have not yet completed the correction of the overarching Wave (2) and should develop a Wave B in the coming weeks. It's possible that we might have already formed Wave B at a top of 100%, but this seems unlikely. We anticipate a minor pullback followed by another rise, likely up to the maximum 138% level, similar to what we observed with the subordinate Wave (b). Such a spike would be expected, but if we instead move downward sooner, that would also be valid. We just should not exceed the 138% level; otherwise, it might indicate that the correction has already concluded, and Wave (2) is complete, meaning we are progressing into Wave (3), or we might be facing a different scenario altogether.

For Wave C, we expect a 5-wave downward correction. If we already observe a 5-wave structure on the short-term chart, we'll let you know.

For VeChain, the situation looks different compared to other cryptocurrencies, as we've observed stronger downtrends here. This indicates the weakness we wanted to see, reinforcing our belief in the continuation towards completing Wave (2), which our limit order targets around the 50 to 61.8% range. Looking closer at the 1-hour chart, this level becomes crucial for us to ensure we remain in a downtrend. For this subordinate Wave ((iv)), we expect it to be not higher than the invalidation zone lies at Wave ((i)); we should not significantly surpass or linger above this level, as it would invalidate our bearish scenario. Until such a breach occurs, we maintain our position, believing in a continued downturn until our entry for Wave (2) is triggered.

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