Did the VET give the sign that he will go up?
Today VET jumped from support and it may be the sign of a triangle movement. I'll buy if it strongly breaks 0,2028 level.
I always set my target price on the support, resistance and slightly below of psychological levels.
For example: Suppose that VET passes ath 0,28 and still goes up, what will be the next target? Of course, the new target will be a psychological level, like 0,30 - 0,40 or 0,50 but I never set my target on 0,50, I prefer to set on 0,4990.
Because most of the people set their target on a psychological level and whale trades know this therefore they are setting their target as slightly below of a psychological level. In this way, it is able to sell from the top.
The most important thing to understand in technical analysis is that the next move of the chart is highly dependent on the psychology of the community. The best example of this is the DOGE coin.
For example, we all users are speculating the market by using this platform. If enough people talk that the price of an asset will rise, investors will tend to buy that asset. This will cause the price of that asset to increase and those who say that the price will increase will be justified.
There is an idiom in Turkish "if you say something in fourty times it will come true". Fourty is an expression of muchness. So this is just a self-fulfilling prophecy.
I always set my target price on the support, resistance and slightly below of psychological levels.
For example: Suppose that VET passes ath 0,28 and still goes up, what will be the next target? Of course, the new target will be a psychological level, like 0,30 - 0,40 or 0,50 but I never set my target on 0,50, I prefer to set on 0,4990.
Because most of the people set their target on a psychological level and whale trades know this therefore they are setting their target as slightly below of a psychological level. In this way, it is able to sell from the top.
The most important thing to understand in technical analysis is that the next move of the chart is highly dependent on the psychology of the community. The best example of this is the DOGE coin.
For example, we all users are speculating the market by using this platform. If enough people talk that the price of an asset will rise, investors will tend to buy that asset. This will cause the price of that asset to increase and those who say that the price will increase will be justified.
There is an idiom in Turkish "if you say something in fourty times it will come true". Fourty is an expression of muchness. So this is just a self-fulfilling prophecy.