Is this the end for v chains ball run, or is this still looking to continue to the upside? I am incredibly bullish on v chain and in this video im going to go through the technical analysis on vet. 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, 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 right with that said, done and out of the way lets dive down into the charts here for v chain and take a look exactly what has been going on. Okay were just going to give a quick overview to the weekly chart, then dive down into the daily and hourly, and but basically, there are five impulse waves to the upside. Many of you guys will know and be familiar with this if youre new to the channel and then basically there are five impulse ways to the upside starting back in march of 2020 way. Three, which is the recent kind of all time high for v chain and were set on the uh. I think its like week, commencing the 12th of april right and again that was up there, nice and high at 27.9. Okay, so significant progress was made from march to april a 900 ‘9 day move that was 18 295 in gains.

There was a pull back for wave four again. This is always a pullback uh correction wave along with wave two and wave two was flat, so wave four was sharp and what you actually saw here was a good bottom in may. The main started a good progress to the upside in august month of september. So self fulfilling prophecy of expecting a pullback, creating the pullback and causing it ourselves and then obviously, now were looking to heat things up and move to the upside for wave. Five wave five comes in at uh, one dollar, one cent, and that is based on the performance of wave three and wave four. Taking those two things into consideration: you get the fibonacci retracement tool and the extension of the four point. Two three six comes in at one dollar, one cent that is eight hundred and fifty percent from the current position and something i do think is likely to occur. Okay, but obviously this you dont move in straight lines and everything uh is usually full of waves and what you actually find is theres natural corrections on the journey to the upside. We can take a look at wave one. We can see that there were corrections in the middle of this wave before we even peaked out with wave one. The same thing was occurring here in wave three. Now what weve got here is basically an unusual piece of activity where september was actually a pullback month.

It was a correction month as it is every single year, and here you can see where it is in um wave two right. It was a correction wave when we had the september pullback now. What we actually have here is starting wave five in uh august, but actually having that pull back in the middle okay, so again, its very frustrating, but again very natural and considering its uh, a self fulfilling prophecy. We all knew it was coming. We all caused it and there it is right um. So we are of course looking to have this push to the upside overall. Now, what im gon na do is im gon na jump down into our daily uh. Okay. Now we have a good idea that the structure of the weekly is looking pretty good its intact, and we can take a little bit more of a detailed look at our third and fourth waves and obviously going into that fifth wave right. So the daily chart here shows us the fibonacci retracement tool. It shows us the peak of wave three, and this was the 17th of april uh. We have the low area um again of this fibonacci retracement tool on the 19th of may right. So we take that high and that low and if you actually get those extension levels coming in here, uh the four point: two three six comes in at one dollar: one cent: okay, the 1.618 is a 42 cent.

The 2.618 comes in at 64 cent. The 3.618 comes in at 87, okay, so overall, everythings looking pretty good. The fifth wave and ive put it up there at the 4.236 extension coming in at one dollar one cent that is of course, 850 from the current position. Now the other thing thats really important – that we have to acknowledge is all of this recent trading activity of what has been going on with v chain. Now, obviously, we had that significant pullback taking us down to these low areas, the bouncing that would have occurred. Taking us up to new areas and then obviously we went down and were setting some higher lows on this journey and weve continued to do so, but obviously weve had a pull back back down towards our 236 area on the charts now well get into. Why im? Not concerned over this overall, and that is pretty much – you know something that were going to get into later, but its its all looking like pretty good moves to the upside overall, and we just have to kind of experience a little bit of volatility. Now the recent pullback that weve seen with v chain – it is not just a v chain it pretty much. All altcoins, with the exception of a few, have been pulling back. Money is actually rolling around the space right now. It is not actually leaving the space it isnt were not having new money coming in right now were basically just uh, seeing investors moving their money around chasing the green candles right.

Some profits have been taken from v chain, recently: uh, etcetera, right and but many altcoins are experiencing a very similar pullback and a lot of these old coins that are experiencing these pullbacks also have some underlying issues im going to get into that in a moment as Well, okay, so its not unusual and its not just vechain, either right. So the other thing on this daily chart i do want to kind of talk about, is some of the really bullish stuff that you can see in these patterns, which is, of course, that cup and handle weve been talking about recently heres your cup heres, your handle And this then projects us moving up to 22, okay, so the cup and handle is a really bullish. Uh pattern theyre about 60 to 70 accurate, so they dont always come true, and but if they actually start to to actually have a good run and complete. This pattern, then, were aiming for 22 cent here and which puts us firmly between the 702 and the 786 area on the chart. So lots of really good progress could be made just based on this cup and handle pattern. Okay. Obviously, this recent pullback is a little bit frustrating. We are still trading sideways between two key areas were going to get into those charts in a moment to see whether or not we are looking to pull back any lower or whether or not we are going to. Basically, break this and start to move back to the upside okay, the things are definitely looking pretty good from the cup and handle perspective.

We have the cup and handle and, of course, you know everything else. Thats going on in the space, we have the fibonacci retracement tools. We have the five impulse waves to the upside and everythings. Looking pretty good from that perspective, now, obviously we can acknowledge. There could be an abc correction with just here and again that could take us down into our buy zone, which is this yellow box area at the bottom. And if that does thats going to be another opportunity, that weve only had a handful of times before down. Here here and here to actually buy up a significant portion of v chain and before we actually go ahead to the upside now ill, probably do a whole member video on the buy zones for v chain uh in the coming days. So do pay attention to that. If you are a member now, what were going to do is were going to jump over to the avid i o dashboard and were going to take a look at the underlying data for v chain. Is there anything that we should be concerned with now guys if youre not familiar with divide.i o links in the description below and if i io, they use artificial intelligence machine learning to help us understand the underlying value of cryptocurrencies in an unbiased way? These uh platform, this artificial intelligence, has been right more times than i can, and it is completely free, so do seriously guys check it out, sign up below and from the link below and youre going to be able to get a lot more clarity around whats, going On with your cryptocurrencies than you would normally get just from the charts, and so in this particular example, weve got b3 rating for v chain overall and we can come down and we can get into a little bit more detail over what is going on when it Comes to um, you know to v chain right, so we have a fear in greed, index thats a c3, so theres extreme fear in the market.

Um and again this is not limited. Just a v chain, but v chains, fear and greed index – is indicating that there is extreme fear and people are incredibly concerned about the the future of v chain. Now that is not something that i am concerned with. Obviously, with the amount of things actually going on in the world with v chain its hard to think that youd ever be concerned with uh, then progress or the future of v chain. This is actually one of the projects that i sleep easy on, because it has so many real world integrations by absolute behemoth companies that are not china based either okay theres a lot of work that happens in china, thats because theyre very, very close to china, but Not a chinese company and of course you know, vechain has integrations worldwide with absolute massive companies and organizations, organizations that would basically dwarf pretty much most other kind of blockchain technologies and their partnerships and their kind of progress v chain has absolutely solid track record and its The only five star blockchain service provider in the world, which has huge implications from a business and enterprise adoption level, so everything that v chain is doing is, is you know, absolutely fantastic, and therefore i find this this unreasonable amount of fear um in the market for For v chain its a bit of an odd one and again, i do think that this is uh down to lots of fun misinformation around what v chain is and what v chain isnt.

So again, i think its important that people actually open up and actually dive into the truth of v chain, rather than just believing some absolute nonsense that you see out there. That being said, do some more research if youre not actually understanding exactly what v chain is, and hopefully you will actually come out on the other side, looking much better as we come down. Of course, we can see that v chain. The ami hat ratio is a rating of d, another problem that is plaguing many of these altcoins in the space right now. This is liquidity. Liquidity seems to be a problem. It could be one two or three different exchanges that are causing some potential withdrawals or deposit issues for v chain and, as a result, this could actually have a pretty compound effect to your fear and greed index. If there are problems with liquidity, you can bet that thats going to cause a little bit more fear in the space as well and again, i dont know what the problem is. Its been plaguing the space for a few weeks now and im really interested to know what is causing such liquidity based problems for so many altcoins, and whether or not there is manipulation at play. Um. Definitely something im concerned about, but um, not as a long term holder, but only as a short term price action. Overall, the liquidity, i think, is going to get resolved and once it does, we should be off again and looking for some pretty good traction to the upside.

As we come down, we have a sharp ratio and a2 the second best rating, that this platform can give and well above that, 50 day average right now. The sharp ratio is indicating that the rewards outweigh the risks and when we couple this sharp ratio with the fear and greed index, you get something thats quite unusual. We have a position where the rewards outweigh the risks, but people are willing to sell their v chain at a discounted rate. That is indicating to me that its the kind of fear that you might want to be buying up, of course, im not a financial advisor, nor is chris so its important that you do. Your own research use. The avida io platform use the charts and call try to draw your own conclusions and understand where things are going. But when i have a sharp ratio in front of me, thats showing an a2 and a fear in greed index showing a c3. That is basically telling me by that fear, because things are looking pretty good longer term and as we come down, we have profitability up in a1 and again, why not with 18 295 in gains in ‘9 days? That is a very significant return on investment, much higher than things like bitcoin, with only one thousand six hundred percent with uh ethereum in the same time period, only five thousand one hundred percent um, so vechain has outperformed many of these major cryptocurrencies, including cardano, okay.

So its important that we have to acknowledge these things and obviously it hasnt even finished its ball run. Yet things are going to get really really parabolic towards the end of this ball run and v chains going to absolutely pop to the upside. But, of course, our concerns with the moving averages. This is a c2 rating and again thats understandable, considering everything thats been going on in the month of september. So, overall, a b3 rating is pretty pretty good its neutral, but it is on the cusp of of of bad and we should be expecting some volatility, considering the ami had ratio and, of course, that fear in greed index long term, though the profitability being an a1 And the sharp ratio being in your favor, i think, were picking pretty good. So when we come back to the chart, we actually have that cup and handle and the cupping handle indicating that we should move to 22 thats going to be something that i think is going to probably be later in the month or beginning of november. By time we actually get up to that kind of traction or to that level and thats, just because we havent got the right sentiment in the space and we have got those liquidity based problems when we jump down into our hourly view. This is where we start to see a lot more of that volatility right. We had a good break to the upside uh, where we were trying to find this well heres the break to the upside right.

We broke the downward trend. We moved rapidly to the upside found that resistance trying up here and to reach you know to 12.3, and then we pulled back crashing through a lot of these resistance levels. This is really unusual and we can start to see that we just havent had the sentiment to push back up and we found resistance at 11.5. We crashed through 11 and we also went past 7 10.7, which was unusual. This is an area i thought was absolutely going to hold for us and but by the time we actually got there, we bounced from it, and then we started to basically full freefall again and if we actually jump back down into here, we can basically see that The volumes that are coming through are just selling its almost like um theres. A liquidity based problems are for purchasing only right now and which is really really odd, which is if youre, shorting, bitcoin, im sure youre, probably doing fine um. But if youre going long right. Now, theyre, probably trying to liquidate you in some way or something is going on in the background here around those liquidity based problems with a stochastic rsi being where it is, and we have the opportunity to push up to about 10.7. But i think if we actually really review it, the chance is hard that we are more than likely going to come actually its a reasonable area of support. Let me just grab that horizontal ray and throw that there.

So we can see that this is a reasonable area of support, theres a previous area of resistance just over this side here, and that one actually comes in at 10.3 right so um, looking at where we are. If we can actually push up towards our 10.7 and then go and find 10.3 as a support line – and we might trade this until we can break to the upside and but obviously i have to be aware that we could also pull back to 9.8 okay. So if this continues the downward side, then thats what we should be expecting were waiting for money or new money, or you know just people to roll back into um. You know v chain right now and some of these other old coins and at the moment it looks like moneys rolling into bitcoin instead chasing those green candles and chasing bitcoin to move up. Obviously, from the percentage yield point of view. Bitcoin is not going to perform very well so im hoping that people eventually do understand that it doesnt really matter about the dollar level uh or the actual value of a cryptocurrency. It only really matters about the percentage gains that you actually make. So what would you rather 1 600 on bitcoin or 18 000 on um a v chain? Those are the differences right, so it does look like people are rolling out of these altcoins putting into bitcoin. You can see that in the dominance with and bitcoin dominance, rolling up, um and uh the old coin dominance dropping down, and yet the actual total market capitalization across the entire space is pretty static.

So money is just rolling around the space rather than um, but actually new money coming in so one to be watchful of. I think this volatility is going to be very, very short. I think its going to be over pretty quickly and then everythings going to be moving right back to the upside in a really rapid way towards the end of october overall everythings, looking pretty good long term for v chain. So if we ever in doubt, we do zoom out, we pay attention to what is going on with a v chain on that weekly chart where we started this whole video – and this gives you a pretty good structure of where things are going, its important that we Dont get too uh too focused in on all of those smaller time frames, and the structure of the weekly chart is looking very good and we are continuing that growth to the upside overall guys im gon na leave the video there.