TribeWriter666

VET:USD to $0.052c or $3.87, Standard vs. Log Targets.

Long
BINANCE:VETUSD   VeChain / US Dollar (calculated by TradingView)
Can't help but feel excited for VET 's price action in the near future. Maybe I've been hitting the Hopium too hard! And while there's a huge difference in the standard vs. long targets, there is consensus. That is, it's going higher. The wave 5 target for the standard chart doesn't even get this back to the VEN All Time High. Meanwhile the log puts it at somewhere between $2 and $4 depending how deep wave 4 retraces! Exciting times ahead.

Key points
  • Retested 'Cup & Handle' breakout
  • Testing VET All Time High ( ATH )
  • 250% away from VEN ATH (100:1 swap equivalent price)
  • Wave 3 target is $0.71
  • Wave 4 targets are between:
    - $0.249 (0.236 retracement of wave 3)
    - $0.132 ( 0.382 retracement of wave 3)
  • Wave 5 targets are:
    - $2.02 (1:1 length of wave 1 projected from wave 4 (0.382 fib) this is in confluence with the algo target -0.236 of wave 3)
    - $3.87 (1:1 length of wave 1 projected from wave 4 (0.236 fib))

For a deeper analysis and Standard targets for VET see the linked chart below.

Never Trust. Verify.
D.Y.O.R. Not Financial Advice, Just an Observation.
Always remember: Technical Analysis is not about being right, it's about increasing your odds.
Be prepared to be wrong. Risk management is key. Capital preservation above all else.

Comments

Still tracking well! What a great chart dude!
+2 Reply
TribeWriter666 competitiveSea32306
@competitiveSea32306, Thanks bro :) so far so good
+1 Reply
Created an account just to comment. Wow lol, I'm blown away by the accuracy. It's 4/13 and according to that line, the price should be about 0.16cents; well we're currently at .15 cents. Could you explain what you mean by "waves" and how you come up with these cycles?

Also, in terms of taking profits in crypto (I know, you can't give financial advice ;), what do you think is best for newcomers and inexperienced traders?

Taking profits along the way (e.g 10% at .20 cents, 10% at .30 cents, 10% at .40 cents, etc.)

or

Buying and holding until deeper into the cycle (ex. in wave 3 julyish~ and wave 5 beginning of 2022)

There's also the notion of swing trading, buying at short-term dips and selling at local tops and just repeating until peak of bull cycle.

I know it's very speculative. My original plan was to take profits as it goes up, but seeing your chart and knowing VET, I'm more inclined to hold for just a little bit longer (towards wave 3) since I don't want to pull out too early (that's what she said ;). LOL. Your wisdom is greatly appreciated. Thank you!

:)
+1 Reply
This would be incredible! It's already following your lines pretty well. Add to stack accordingly I'd say ;-)
Thanks for this idea.

Cheers.
G.
+1 Reply
@Gaengphed, No worries G, my pleasure. The boat is loaded, noting but time ;)
+1 Reply
Thank you Buddy :)
+1 Reply
@tlake412 You're welcome :)
Reply
What do you think short term like the next 3 months ? We have alot of things in the mix I believe at any moment we can pop
+1 Reply
TribeWriter666 Cryptokid85
@Cryptokid85, Wave 3 in Elliott wave is unusually the most explosive, so to be honest I'd be surprised if this doesn't hit at lease the VEN ATH ($0.095) in the next 3 months. If it doesn't I will start questioning if it is following the log chart...
Reply
R-Cole Cryptokid85
@Cryptokid85, Need to also keep in mind the possibility of VET being listed on Coinbase. If that happens, there will be a sudden spike before it levels back out again.
+3 Reply
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