[Long] Vechain Long

VeChain / TetherUSBinance

Description

⋅ May 13, 2021 12:41 AM

Today's drop found support at the 50ma and created the lower trendline of a symmetrical flag.

The volume on this test is lower than prior tests of the trend at the 50ma. That is slightly bullish.

Today's low is a critical line in the sand, any further downside could break the trend for a while.

Personally I'm holding long term, no trading.

Trend Analysis

Comments

theothermurph511

⋅ May 13, 2021 1:10 AM

Ha ha ha, I think these coins are being "manipulated". I've seen strange sell orders running through the order books. I wonder when they will let the coin rise naturally🕵️

Thank you for your analysis. Very helpful.

tangman

⋅ May 13, 2021 1:59 AM

@theothermurph511,

I have seen the same strange orders on the tape as well! And a good bit of sell wall spoofing lately.

I think this is just how modern trading is. Whether it’s being accumulated or distributed here, I honestly don’t know for sure. We’ll only know once there is a breakout or breakdown.

theothermurph511

⋅ May 13, 2021 2:37 AM

@tangman, I trade on Binance.us which has a minimum trade limit of I think $10 but I frequently see sell orders for 1 Vechain coin or maybe 10. Happens more frequently during the 2-3 am hours.

theothermurph511

⋅ May 13, 2021 3:09 AM

@tangman, I just snapped a screenshot of one Vechain coin being sold on the Binance order book, but I don't know how to post it here. One freaking coin! MANIPULATION. So obvious.