🚀 $1 VECHAIN ON TRACK? 🚀 VET ANALYSIS & UPDATE | CRYPTO NEWS TODAY
Finally, start to see a bit of a break to the upside or downside guys as we get into this video, if you do find it useful and informative hit that like button, i really do appreciate that, if you happen to be new to the channel, then 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, with this said done out of the way lets dive right down into this uh. This chart for v chain see exactly what is going on with the price action of a vet were going to start things off guys with the weekly. Just to give you a bit of an overview of where things are and how they are looking longer term and then were going to dive down into the daily and, of course, were going to go into that hourly as well. So guys, im just going to give you a brief update on where things have been. I know this can be a bit repetitive, but there are so many new people to the channel. I want to just make sure that everyones fully aware of the five impulse waves that have been going on, so we have uh wave one two three four and were looking for five. Okay – and this basically started back in march of 2020 and through to the peak up here of april 2021 – and this was an 18 295 move with that being said, we do anticipate another 750 percent um to take us up to that one dollar, one cent level.
This is based on the performance of way three and wave four okay, so take that into consideration. Uh a fib on that high and that low puts us up to one dollar. One cent on the four point: two three: six extension on the fibonacci retracement: okay. So overall everythings looking pretty good on this weekly chart. Another 750 percent would complete the ball, run in my opinion, and then we should go down into the bear market. We can accumulate more v chain ahead of the 2025 ball run. Okay and obviously this is a project that youre going to want to do a dollar cost average a pretty good position on, in my opinion, obviously im not a financial advisor chris is not a financial advisor theres. Only really one person whos going to be responsible for their crypto investments, and that is yourself so its important that you do your own research weve done research on vechain. We really do like it theres a lot of noise, lots of fun out there, thats, not very factual and so its important that you kind of move past that and actually dig much deeper to actually understand what is actually going on with vechain on why this project Is so important right and the other thing thats so important to note is obviously the stochastic rsi has lowered down nicely im currently at 35. Anything lower than 20 is oversold, and obviously were looking for that reversal. That we can see here.
The month of september was not kind for many crypto currencies and we had the pullback just here ahead of uh pushing back up to the upside. The other thing thats also worth just noting, is that every single wave will have waves inside. So we have five impulse waves since march of 2020 and we can also assume that theres going to be five impulse waves inside our fifth wave. Okay, so thats the kind of uh price action that youre looking at youre looking at waves within waves within waves and im not going to keep going on about that id like to keep it simple and just so that theres five impulse waves. But if you go down to the lower time frames, youll see more waves, etc. Okay, so thats your weekly chart. Everything is looking pretty good on the structure side of things. It has been go moving quite nicely and according to plan since march of 2020, and again that one dollar level is the fib 4.236 extension and a 750 move from the current price of 11.7. Okay lets jump to the daily chart. Okay, the daily chart shows us exactly whats been going on. These um charts are the daily and, of course, the weekly theyre like cheat sheets in essence, because they allow you to see the bigger picture without worrying about every single micro movement. Okay, so its always important that we start there and then we dive down into the lower time frame.
So then we zoom back out and we take a look at that bigger picture so here on the dailies, the next level. Down that i like to look at from the weekly seven of these candles make up one weekly candle, obviously okay, so obviously we can see here. We have the four point, two three six extension coming in at one dollar one cent. This is based on the high of wave three or specifically the high on the 17th of april, and then, when we come back down, we can see the low and thats used in fourth wave correction on the 19th of may 2021. Okay, so those two points that high and that low show us moving up to a dollar so based on the performance of v chain. We can see one dollar vet in this particular cycle. Okay, but obviously weve got a quite a bit of work to do in order to get there, okay and theres a similar way that we saw some sideways trading occurring at the beginning of um our wave three right. We had a good push to the upside. We traded sideways up here for quite some time. Let me actually grab my date range and we can actually just analyze that so we traded sideways im gon na take it from here um to here for 29 days. Okay, so we did a 29 day sideways trade. After initially starting wave, three okay – and this was basically november – okay, things really didnt heat up until we got into the new year um, but basically theres a sideways trade, and then we really ramped up nicely right now is basically something very similar were trading sideways.
After a recent push to the upside um after a pullback of september, right so september, pulled us down and now weve moved up and now were trading sideways, so we could potentially trade sideways for a little bit longer. If history does tend to repeat itself. Okay with that being said, the battles are going to be quite fast, but we do have some interesting things occurring on this daily chart. The first one i want to talk about is this cup and handle, and this cup and handle is actually a very neat example. Okay, heres your cup heres your handle, and then we push on up into our key areas from here so were talking about um. I think its 22 cent um for v chain in this particular cup and handle okay. That takes us right up into our key areas. Just here the 618, the 702, the 786, the 22 cent target is actually firmly between the 702 and the 786 coming in at 21.2 for the 702 and 23.1 cent for the 786. So these areas on this cup and handle thats the target that were searching towards now id like to think this is going to happen in october, but timing is always the hardest thing to get. No one, in my opinion, is ever going to get that timing. Bang. On correct itll be in that ballpark, maybe, and but it will never actually be 100 is its always the most difficult thing to actually time in the market.
You can see the pattern, so you can predict out the patterns. You can do the price predictions that are going to get you into pretty good zones, but actually you dont know how long its going to take you to get there okay. But for me, i like to think october after the month of um september being a month of corrections id like to think that october is going to be the month where we actually see this pattern complete. But it might actually just get extended a little bit into november, but i do think in a few weeks we are going to be moving on nicely with v chain uh, going back to the upside targeting out this key area where we want to obviously go above. Our 23.1 zone, where we can get that ball flag to take us to new all time highs once were in there. I think december is going to be the key month for vegan really going up nicely and heading towards that one dollar level, but also taking out the 42 cent 64 cent and 87 targets on that journey. Overall, this daily chart is looking pretty good and pretty bullish right, um and um thats, where the story unfortunately has to end on on the pulsative stuff, because we are going to now jump across to the evader io dashboard. This dot, io dashboard uses artificial intelligence and machine learning. To help us understand the underlying value of a cryptocurrency link in the description below if youre not familiar, do sign up its completely free and youre going to be able to get more insight on your cryptocurrencies.
Its been right more times than i can count and its well worth paying attention to what this data is suggesting to you so for v chain here that we have a b2 rating, okay, so its pretty neutral overall uh. When we come on down a little bit, we have um some a bit of a breakdown on this. In a little bit more detail, we have a fear and greet index. This comes in at c2 rating, so theres a lot of fear in the space extreme fear. In the space of v chain right now, but this is slowly working its way back up. I would anticipate that this is actually going to start to become more greedy in time and mainly once uh bitcoin actually passes 57k. So right now – and there is extreme fear – and this is actually preventing us from moving up too high, but also um, because its kind of you know relatively bullish, still bitcoin hasnt, actually um pulled out of its key zones. Therefore, actually we were struggling to push up, but were also just bouncing off of some key support levels, so were actually just trading sideways right and well. Take a look at that in a moment. So extreme fear is basically preventing us from moving up. Okay and people are basically just trading or more willing to sell their their vet right now, okay, so we have to be mindful and have to understand that the other issue here on this underlying data is the ami had ratio.
This amihad ratio is your liquidity and weve got a rating of d. This rating of d is indicating there are some pretty extreme issues when it comes to liquidity and v chain, now, im not entirely certain what these are. But this is not the only cryptocurrency that is has this kind of rating. We see something very similar with cardanos ada and uh things like polka dot as well theres. Basically, some issues going on with liquidity. It could be an exchange. It could be a couple of different exchanges, could be decentralized, exchanges, im, not sure, but buying and selling a v chain right now is going to be a little bit more difficult than it has been previously. So this particular issue, the ami had ratio issue is going to compound the fear in the space okay, so those two things are not going to be working together to make your life any easier. So obviously we have to understand with extreme fear and liquidity based problems. We shouldnt be expecting the price to spike up without first of all correcting some of these things. With that being said, when we come back down to the lower side, we get a different story here. We can see that there is a sharp ratio. That is an a2 rating. This is your risk reward rating. We are above the 50 day average. This particular indicator is telling us that actually, the rewards outweigh the risks, which is the polar opposite to what we see here from a fear and greed index.
The sentiment is very fearful, but actually the underlying data is suggesting you might want to have some exposure to v chain. So these two things are quite interesting. This is the kind of fear that we should potentially be buying up, obviously youre, not a financial advisor, so its important that you do your own research but thats. How im interpreting this data as we come on down, we have moving averages, are actually up at a2, so again, theres no problems with the moving averages. Theres no problem with the risk reward ratio and the profitability is up here in a1, so theres, two problems that are kind of hand in hand together. One is weve, got liquidity based problems which could be fueling. Some fear in the space and weve got extreme fear for v chain. So, overall, those are the two concerns everything else, the actual um elements of of the data that actually suggests whether or not long term its a good investment, its actually looking very, very good. We have a good sharp ratio, we have good moving averages and we have a really good profitability. So the only issues that we have are really on these smaller time frames. We have that sentiment. That is not exactly looking very good right now and weve got some temporary kind of issue when it comes to liquidity so other than those two smaller things. Everything longer term is looking very good, but we should be expecting some volatility on the smaller time frame or to be more precise, some sideways trading.
So when we come back into our chart here and we actually pull up our um hourly view, let me just remove that cup and handle just delete that for a second here. We can obviously see this side based trade right and weve been basically trading sideways, since we pushed up to im going to take from this candle here and to our current point. This basically comes in at seven days and 20 hours. Okay, so weve been trading for sideways, pretty much for a week now right and this isnt going to last forever, but it isnt going to end right now, either. Okay, so the expectation with where we are right now considering our stochastic is moving back to the um overbought area is to pull back down. We are probably going to lose 11.5 support, 11.5 support line and we should look to come back down towards our 11 points. Uh, what is that? Uh? 11.2 okay, and so i think that is probably where were going to end up considering the fear in the space then from there. Well, probably, bounce back up, hopefully find that as a support level and continue this sideways trade, hopefully eventually well. Actually target towards our 13.2 zone and from there then hopefully well be continuing that growth to the upside, but we do need to see that sentiment, shift and change on this smaller time frame before we can actually really start to take on those next levels.
I think, ultimately, this is really going to come on the back of what bitcoin does. Bitcoin is still trading sideways itself in a very, very similar pattern to what you see here with v chain and were waiting for bitcoin to have enough confidence behind it to break that 57k level. Once 57k is broken and bitcoin goes above its 786 area on the fibonacci chart. This is going to be a big ball flag for many people on bitcoin, which will then obviously allow the rest of these old coins that are kind of um copying. The trading pattern of bitcoin to allow them all to grow back to the upside overall, so recovery is something that is on the horizon here, but it is going to take a little bit longer. Unfortunately, so do anticipate some more sideways trades and do anticipate and um. You know potentially moving up and coming down inside this area here, um between 11 uh. Actually it might be a little bit higher, i think, were going to go probably to 12.3 and 11.2. Those seems to be that the area that were kind of working in at the moment, um and then obviously from there you know eventually well get that break and well be heading to the 13.2 area. Overall, the chart is looking very good when we actually zoom out. We take a look at that daily with the cup and handle targeting 22 cents and again we can also take a look at the big structure of those five impulse waves to the upside on that weekly chart.