🚨 VECHAIN CRASH 🚨 WHAT HAPPENED?! | VET PRICE ANALYSIS & UPDATE | CRYPTO NEWS TODAY
Is this just a standard monday or is there something else going on were gon na dive into the weekly daily and hourly charts to see exactly how vet has been performing and what we could expect to happen? Next, if you find this video useful hit the like button, i really do appreciate that if you happen to be new to the channel, why not subscribe tap the bell? Select all notifications – and in doing so you will be kept up to date with absolutely everything that we do here. Right with this said done out. The way lets dive down into the technical analysis on v chain so were going to start things off with the weekly chart. Guys just highlight the structure make sure everything is intact and where we see it going longer term now, v chains, pull back does mean that we have more potential gains on the table. Now it means that we are looking at just short of 900 percent move to the upside, where we see vechain topping out about a dollar okay – and this is based on current performance uh, whether you decide that a dollar isnt – really quite what you think is going To happen, it is what the performance is currently indicating to us. We can see that there are five impulse waves to the upside okay and within those five impulse, waves, theres, correction, wave, two correction wave four, and then there are three impulse waves to the upside one.
Three and five okay um, so everything started off back in march of 2020, really peaking out up here, uh in april of 2021, since that time period of ‘9 days, weve seen 18 295 significantly higher than that of bitcoin, with only 1 600 in gains. For the same time period, but not quite as good as something like matic thats, seen, 42 000, so its a pretty good performer in our portfolio and it has performed incredibly well uh much better than some of those higher cap coins. However, obviously there are lots of corrections on the journey, nothing moves up in straight lines and we should prepare ourselves for what is otherwise just a standard day in crypto, which is the volatility here. We can see that even during wave one, there were a few week periods where we were just correcting down only to surge up afterwards during the fourth wave and second wave corrections. Obviously there was less moves to the upside than there were to the downside. So we take a look here. We can see even on the third impulse wave to the upside, there were significant pullbacks and we still moved up to the upside now. The volatility that we are seeing at the moment is all courtesy of bitcoin at the moment, and we are just tracking alongside what bitcoin is doing. That being said, i am anticipating bitcoin to do a pretty cool move in the next couple of weeks to see it move up nicely to the upside overall uh.
We wont probably hit uh decent levels like all time highs, but that will be coming in the few months down the line. Ultimately, the market is about to heat up after the usual uh historical september, pullbacks that we normally see. Ultimately, we are in a pretty good position, structurally speaking, and everything here is looking nicely tracking to the upside overall, we uh could be looking at that dollar level uh by the end of the year or beginning of 2022.. Timing is always the hardest thing to gauge, and so we have a kind of rough kind of timeline there in line and obviously well analyze the charts to make sure everything is going where we think it is in g course. Now we can take a look at the stochastic. We have a nice correction here on our stochastic in line with what is going on with the candles at the moment as well. Okay, so obviously the same structure, we have five impulse waves to the upside, and this is still pretty much intact and theres. Nothing. We need to worry about in terms of the structure from the bigger macro picture, lets jump down into our daily view, and here we can actually take a look at whats been going on most recently. Obviously, this is where we see the fibonacci retracement and from the high of three and the low of wave four. This predicts out that one dollar level so, like i said, based on the performance of our correction wave, four, how low weve been and how high we have been.
This land shows us that we have that push for a dollar in our fifth wave. Now, when we actually take a look at whats been going on, most recently, bitcoin has been having a bit of a play around with most of the old coins in the space and again, this just comes down to making sure that they, the institutional uh manipulators, are Behind the scenes of bitcoin are basically shaking out retail investors out of the old coins, its quite obvious to those guys when they take a look at um. The bitcoin dominance that theres a lot of money still available to them in the elk way market and they are not going to be happy about letting bitcoin fly back to the upside until those retail investors have been shaking out the market with. That being said, i think theres a lot of people who are potentially shorting bitcoin thinking that its going down a lot lower and im, not convinced that that is something that we are going to see. In fact, i think were going to go the other way and everyone who has been shorting will be liquidated. This is why i do not use leverage and why i try to stay as safe as i can in space and do not over extend myself. I only buy what i can afford to lose. Um, obviously im not a financial advisor, nor is chris, so make sure you do your own research um.
We obviously like vechain quite a lot its that performed incredibly well for our portfolio and theres very few projects, in our opinion that do just as much as vechain in the real world. So we do anticipate this project absolutely flying in the near future and obviously up to that dollar level, but way beyond that in 2025 and 2030 uh once that mainstream adoption really comes in so obviously a 20 pullback is what we have seen in the last few Days were pulling back today is courtesy of what is going on when it comes to bitcoins pull back to 45k. Now this is lining up quite nicely. We are heavily oversold down at 2.1 on our stochastic rsi. We havent seen a level like this, since we were down at the bottom over here, for example, okay, so this is where were at 1.01 or when we were over here were actually moving to the upside from our stochastic. We were actually at 9.6, so we know that were incredibly oversold right now and this daily chart is getting primed for a nice big move to the upside similar to what we had seen over here. So we know that we are only really around the corner. Now, a couple of weeks, or so before, we absolutely do have that huge push to the upside, so this pullback has been very unfortunate for us. We were obviously tidying up and moving up nicely towards some key areas before bitcoin did decide to pull us back down, but we are still setting up these higher lows.
Okay, its that point in the video where we want to talk about being safe in the crypto space. We see a lot of scam activity and want to ensure our cheeky community are as safe as possible and prevent anyone from losing their crypto. There are many different scams in the space, but one of the most common and easy to avoid are those hacked wallets and exchanges being hacked themselves. This is where hardware wallets come in when it comes to choosing a crypto wallet. There is no perfect solution and no matter which kind of wallet you do choose. If you dont understand the basics of security, you can still become a target of bad actors. Now, like i said, we like hardware wallets, because they minimize the risks that we cannot control. Such as major data breaches at cryptocurrency, exchanges or mayweather exploits the zero day vulnerabilities in mobile and desktop operating systems. To be clear, though, hardware wallets are not perfectly safe, they um will give you an added level of security and protection. Though we do like to use the alleged devices. We have uh ledger nano s and x uh on this channel and um. These are for a good bang for your buck when it comes to keeping your crypto safe and secure. There are two models: the ledger nano x and the ledger: nano s the x. It uses bluetooth and can be used with your mobile where the ledger nano s, it does require you to actually plug it into a laptop um.
Those are the two main versions and we actually use both of them um, as some cryptocurrencies only work with the ledger. Nano s currently the legend nano s is smaller, however, with a limit on the amount of different coins that you can hold, whereas the ledger nano x can hold up to 100 different crypto currencies, you often find yourself having a trade off between the kind of hardware Wallet that you want to buy, and obviously the ones that do everything you absolutely need them to do now when it comes to cost and availability. I do find that ledger is a little bit easier to kind of come by and is more affordable to the everyday, individual and investor. When it comes to buying a hardware wallet, we do suggest you, research, the different types and brands, and i cannot stress this part enough only order directly from the manufacturer, as there are many fake hardware wallets out there. If you are interested in a hardware wallet, there is a link to ledgers official website in the description below, and you will be able to find out more details about how to keep your crypto safe. There guys lets continue with the video. So what were going to do now is just jump over to the avaya, dashboard and load up v chain here to see exactly what has been going on with vet uh. In terms of you know the underlying data. Now here we can see we have moved down to a b3 rating.
We can see that there is extreme fear in the space everyones very, very, very fearful over what is going on with bitcoin and the alt coins. Obviously, and micro cap coins are the first ones that are going to be affected by this. Here we can see the fear in greed. Index is actually all the way down with the extreme fear of rating d. The ami hat ratio is a c2, so even liquidity has been hit hard. We can see. The sharp ratio is still an a2, though so risk reward ratio is still in our favor. Moving averages have been affected at c2 and the profitability is definitely uh. You know really well at an a1 rating, so overall um there is definitely problems with the underlying data. The ai has picked this up. It picked this up about eight hours ago at midnight, and here you can see that ultimately we are. We should be concerned about the the prospects of the short term for right time frame for v chain, and so, when we jump back in here and we go down to our hourly view here, we can obviously be concerned over what is going to happen next for Vet right so obviously with the pullback that we have just seen: where are we likely to see things go right? So, for starters, we came down to our 9.8 cent support line, something that we were talking about not too long ago and obviously here we can see some of the areas that i was talking about in yesterdays, video, where i end was anticipating, as potentially pulling back To trying to find support on some of these key levels, so right now we are in an unfortunate area, but we are in this also the oversold area just coming out of it, so we are looking for a bounce to the upside.
So, where are we going to bounce to well lets grab a hold of our fibonacci and actually pop this on now we have an interesting low area. We should be looking to bounce up towards probably our um yeah about 10.6, okay, so just short of our resistance line that was acting as a support line. So if we are going to be bouncing to the upside, then where we want to be bouncing to is go out here before we get rejected, okay, um so well be interested to see how this one plays out um. I would anticipate that we will be getting rejected with the amount of fear in the space and also right now. We do not know for sure whether or not we have found the bottom either. We can, of course, come right back down into this oversold area as we succumb to the fear and we can push down a little bit lower on our charts here and if we do then were looking at 9.2 as a really strong support line for us. So if we do continue this down down downside and then we can of course come down to about 9.2 uh before we start to see that bounce back to the upside overall um, so right now um, there is a lot of fear in the space here for Vegan um, i would like to think we found the bottom um, but obviously in the next few hours well know for sure.
If we do lose this one here, then i would be anticipating a 9.2 support level um. If we do not lose our 9.8 support, then we should look to move our way up towards um the resistance levels just up here where we might get rejected at 10.6 uh, although to be fair, theres, also a couple of areas here. That also might be a bit of a blocker for us, such as 10.5, okay. So nothing moves down in straight lines in the same way that doesnt move up in straight lines, so wed anticipate getting rejected from some key areas around here and before falling down, potentially lower or in the case of what we have seen so far. Actually we get rejected, but we set a higher low only to go up again and continue this motion to the upside overall okay. So it could be a slow burner, and i am anticipating volatility for another couple of weeks before we do absolutely go on a tear to the upside overall. So again, these are opportunities, and you know to basically trade key levels. Right now is a bit unclear. After a huge kind of pullback that we have seen and so for now, we want to kind of be mindful not to do too much or we have to wait, stay and kind of just buy some time to see where the bouncing occurs. Have we found the bottom? Do we start moving up to the upside, and then we can start trading if we wanted to obviously im, not a financial advisor so make sure you do your own research draw your own charts up.
We do you trade trading view here. So youll be able to replicate everything that i do on the charts so guys im going to leave that there um just expect volatility that the weekly is looking good. The daily is looking good, but obviously the volatility on the smaller timeframes we have to be mindful of that so um. I will leave the video there if you have found it useful and informative hit the like button.