HUGE VECHAIN BREAKDOWN? VET Price Analysis & Update | Crypto News Today
We can see some more volatility occurring here in the next few days, so i really want to give you guys a bit of a heads up as to what im expecting to happen next, and so everyone can be nice and prepared. If you find this video useful and informative hit that like button, i really do appreciate that, if you happen to be new to the channel, why not go ahead and subscribe tap that bell select all notifications, and in doing so you will be kept up to date With absolutely everything that we do here at cheeky, crypto right with this said done and out of the way lets dive right down into this daily chart were going to keep this one nice and brief. Just taking a look at the daily in the hourly today, um. So we can see exactly whats going on and really focus down on my expectations, and so here we have obviously our daily chart with the high of way three, the low of wave, four and um. Basically, what we can see here is a good push up to a dollar right, thats, the the game, one dollar and one cent is where the fib kind of comes out now. This actually shows us as 1050 gains from the current position. The current position, though, however, i do anticipate falling down a little bit lower okay, and we have the potential to fall right back down into this buy zone that were in previously okay.
So if we do fall back into this area, this is going to be a fantastic opportunity to basically buy up some of the fear thats up for sale. Now we can take a look at the stochastic weve gotten to an interesting point, but we have had a pullback. Bitcoin has been very volatile and until we start to see that you know uncoupling of bitcoin, which will happen towards the end of the ball run uh. We are going to obviously be you know following the price action of bitcoin. With this being said, though, this is where we can analyze the charts for v chain here and find those opportunities where we can potentially buy up a little bit more ahead of going parabolic towards the end of the ball, run um. So right now. Obviously, you can see the volatility we had a nice surge to the upside here with bitcoin pulling us down and then obviously trying to get that bounce bitcoin, pulling us down again and again, more kind of regurgitation of old news uh. Basically, the institutions are getting a bit lazy, mainstream media, picking up old articles and regurgitating them sending them back out again trying to shake out retail investors. Out of the space, i like to think that a lot of retail investors are rising up to whats, going on. In the space bitcoin hasnt been as fluctuating as much as maybe you might expect under the same kind of news that if you that have worked before and not working as well this time around and so do brace ourselves, something bigger, might happen there to try to Kind of shake everyone back out of the market, uh like you saw back in may and so im.
Quite mindful of that, i am monitoring lots of different kind of uh possibilities and i havent come across any that i am really confident in just yet. But if i do come across one, i will obviously let everyone know what i can see happen um, but for now i am still expecting volatility on the smaller time frame, specifically for v chain here and uh im going to go through what my expectations are. Next right, so the aim is obviously to come up to our 786 area. At 23.1 cent uh, we were moving nicely there until the regurgitation of old news and and basically fudd and brought the price of bitcoin down, bringing the price of the old coin market down. Right, so volatility is still expected here. We do, of course, have that cup and handle pattern where we do target this area just up here anyway, and but it is relying on this actual pattern here, just kind of sticking to it right, we cant have the handle dropping too low, and so ultimately, if We want to see the the actual cup and handle pattern form properly. Then we should be. You know, looking to find a bottom to this recent correction um soon in order to allow us to move up to that area in a nice comfortable way. Otherwise, we could potentially invalidate all of this uh cup and handle, and then the different patterns will also emerge from there and but overall, the ball run is still very much intact.
We are expecting some massive runs towards the end of the year beginning of next year and that hasnt changed the structure of the weekly and the daily are very much intact, but we do have this volatility. This volatility is pretty much just down to bitcoin and uh. Basically, people trying to shake out or whales trying to shake out retail investors out of the space, and so overall, we are in an interesting point of our stochastic plenty of room to pull back down, but also plenty of room to push up. And i think we are looking for volatility to push this down a little bit lower. Maybe well just enter this oversold area before moving back to the upside again okay, so we are waiting to see this kind of play out a little bit. Weve got a few more days left of september um early october, and then i think from there we should be into some interesting kind of moves to the upside, and so what were going to do now, guys is uh were going to jump over to the avaya Dashboard were going to take a look at the underlying data for v chain to see exactly what is going on and should we be concerned. Overall, we are a c1 rated cryptocurrency. This actually should be a concern to many of us. Okay, so we have the fear and greed index falling down or forming a d rating, so extreme fear is out there for v chain today, okay, so we obviously have to be mindful that there is a lot of people very scared wanting to basically liquidate their v Chain holdings we can see the ami had ratio is also a rating of d.
This is indicating to us. There are liquidity based problems for v chains, so buying and selling v chain is going to be problematic. We can pull back down a little bit lower here. We can see the sharp ratio is a c2 weve dropped below the 50 day average. The risk of to reward ratio for holding v chain is no longer in our favor and therefore we should be concerned about this as well for the smaller time frames. So if youre a trader, this is going to be the fantastic piece of data to say: okay im now i want to potentially be considering my positions now. The moving averages have also been affected by the recent volatility. This is also a rating of d and the profitability, of course, with 18 000 percent in gains in one year. We can, of course, assume that the profitability is still an a1 which it is right, so profitability isnt a problem over the long period of time um. But obviously we have started to see that profitability kind of pull back in line with the recent pullback that weve seen. Overall, we have a c1 rating now. The concerns here are, as far as we have a lot of fear in the space, as in theres a lot of people trying to sell their v chain. We have the ami had ratio showing a rating of d, which means there are liquidity based problems for v chain. We can see the sharp ratio, the risk to holding v chain has actually increased and the moving averages are affected.
Okay, so these four metrics are concerning to us and therefore we should be considering some opportunities in the space right now, right now, as a trader youll be buying and selling during this kind of volatility, and if youre a huddler youre going to be looking to find Some fantastic opportunities to dollar cost average, better positions ahead of where we are going next right and so im going to go through whats going on in these smaller time frames for you right so were going to pull down into our hourly view um for v chain. Here were going to just expand this up a little bit, and here we can see that we are on this downward trend right. This downward trend has been going for a while uh we obviously were moving up. We found that were getting wedged into this area, got broken down from this area right, so the expectations uh basically around here was that we were going to be pushing up right, pushing up significantly up to this area here. However, that fear in that space the risk reward ratio, the underlying data problems with liquidity have prevented us from doing so. We pushed the stochastic to the upside here and, basically not actually moving a needle at all. Now, on the other hand, we can push this price down and we have this area of support at 8.3 cent which may or may not even hold. We may pull back much lower than this and find a new area of of support a little bit lower um.
So when we actually throw the volumes on here, you can see that the volumes havent exactly been the best were pushing the price up. The volumes dropped down and right now the volumes are also incredibly low and so whats going to happen. Next, in my opinion, is, were going to start seeing some growth in volume as we pull the price and stochastic down. This will allow us to drop down lower, and i do anticipate that were going to lose that 8.3 support area that weve enjoyed previously okay and from here thats your opportunity right. You have the opportunity to buy up uh when were into this lower area. Now how low its going to go is going to be the problem, because if i actually take this and zoom on out a little bit, we can see that we are potentially entering into uh the buy zone area and the buy zone area. Is this area just down here, i dont think were going to do that in one day i think theres going to be a gradual approach. Well lose this well, probably find it as a resistance and then well come into this area. Here briefly before moving on out. Okay, so this is the buy zone area. This comes in at six point. Eight cent uh. This is an area that weve been in briefly before before uh, moving on up to the upside that we had previously right. So when were talking about finding an area of support, we could find this area supported at 7.
9 uh. We could obviously pull back down a little bit lower and find our support area of 7.3 um on this journey to the downside, i dont think were going to enter this area anytime soon, but there is the opportunity to enter this area at some point and if We do we dont spend a lot of time in here as per the history. Instead, we actually move on right out of this area in a really strong way. So right now looking to break that that 8.3 area looking to find that 7.9 is the support line. Testing the 8.3 losing that um. You know that test and then pulling back down lower going to 7.3 testing a little bit higher im pulling down below 6.9 okay thats the expectation over the next few days for vechain and considering everything thats going on in the space. Now, obviously, if i was a trader, i would be looking to sell and id be looking to buy on this journey, basically buying these bounces uh on that journey, to the downside now, obviously, its not financial advice, im, not a financial advisor. Do your own research and all of that and theres many different strategies that can be employed during this kind of scenario. One of them, of course, would be the the buy in the cell, so sell high, buy low, sell, high right or basically take your dollar cost average position. Dont dont sell anything just continue to buy these dips right and when we pull back we buy down here.
We wait for it to push up. It falls down, we buy down here, push up when it pulls back down. You buy down here right and then youre buying those dips on this downward trend. That allows you to have a very good position for when you go up to the next level and taking it into some fantastic heights, which we do anticipate still happening here, and this is just volatility on the smaller time frame and uh. You know, ultimately its just about being prepared for for what is coming right and making sure that we have everything ready. Our strategies are all uh all set out and and good to go, and but ultimately you know v chain does target one dollar and one cent and the ball run is still very much intact. If it had finished back when bitcoin was at uh 65k, it would have been the shortest bull run in history at only 240 days um, whereas actually then, on the most part, it averages between 500 and 700 days, and so right now we are still. You know on track for that bull run, uh, it definitely hasnt uh hasnt peaked out yet so with bitcoin should still be targeting some interesting levels and once bitcoins volatility has finished once those uh institutions on wales have stopped manipulating the markets and trying to shake out Retail investors and we should start to see bitcoin rise up and obviously, as bitcoin starts, to push back up to those highs.
A v chain will also go along with it and then once bitcoin does get its blow off. The top well start to see um. Basically, many of these altcoins run on their own and go to their all time highs as well, um so overall and do expect volatility on the smaller time frames and uh. Everything else is pretty much still on track right now. We just need to kind of get through the next few weeks of volatility, guys im gon na leave it there. Hopefully you have found this video useful and informative if you have 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 at cheeky.