tangman
Long

Vechain on the move.

BINANCE:VETUSDT   VeChain / TetherUS
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My favorite crypto, Vechain, is on the move. I see no reason why it can't follow ETH and LTC to test its inverse H&S neckline, as well as the 50 DMA. After a brief pause, I expect it to rally into a bull market. I suspect it will be a strong bull market, because 2018's crypto bear really wiped sentiment clean. Furthermore, as time goes on, in my opinion, the fundamental case of VET gets stronger as more businesses onboard to the blockchain.


A few days ago, I purchased ETH at $130 and have enjoyed its rise to about $150.

I am still bullish on ETH, but I've moved most of it to VET due to the trend change in the chart of VETETH.

I have scaled in close to 80% of my ETH purchase, and am just riding this higher. In addition, I have an X Node (600,000 VET) that I've held since last March, give or take.
Comment: My chart of VETETH, what I saw was a smaller inverse H&S or cup & handle.
Comment:
Comment: I'm impressed, VET fell short of the neckline and reversed sharply.

While I suspected a decline, I didn't expect one this sharp. Before I could really wake up, it is already at support.

After a short relief rally, it looks like crypto is headed for new lows. At this point, if it does, a MACD divergence should show up. Reason why I suspect new lows is because of the cycle timing in Bitcoin - it's about midway through its rough 60-day cycle.

Oh well, I'm still net positive over the last couple weeks. I increased my VET stack and that is pleasing.
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