$VEN $VET #Vechain - possible bearish trend
Vechain had an amazing 10x run in January made a lot of people happy.
I see good news every day, partnerships. Rebranding event coming next week.
So you might ask, what is wrong in this picture?
first, there is no product yet. the mainnet will be launched in June this year.
second, the steep 10x increase in price. a lot of people I know, including me, will take profits at 10x no matter what and never look back.
I sense an OmiseGO action here. They had a big hype last year, but the OMG product is meant to go live first this year. the took it down hard.
it's possible that now we are in a bull trap, on the right shoulder
so, I will love to buy VENBTC but only if it goes down to the 618 fib line.
if I'm wrong, well, it's not a good trade anyway, risk is too high, reward too low.
I see good news every day, partnerships. Rebranding event coming next week.
So you might ask, what is wrong in this picture?
first, there is no product yet. the mainnet will be launched in June this year.
second, the steep 10x increase in price. a lot of people I know, including me, will take profits at 10x no matter what and never look back.
I sense an OmiseGO action here. They had a big hype last year, but the OMG product is meant to go live first this year. the took it down hard.
it's possible that now we are in a bull trap, on the right shoulder
so, I will love to buy VENBTC but only if it goes down to the 618 fib line.
if I'm wrong, well, it's not a good trade anyway, risk is too high, reward too low.
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