VARA - USD Bullish Whale AccumulationPlease see the chart for illustration. This asset remains in a whale accumulation sideways trend. Bollinger bands were compressed leading to a price action squeeze leading up to the initial breakout from above $0.025 with many long positions opening between this price point and $0.03 placing the local bottom at just below $0.03. Consumer and whale activity still indicates the bulls are in control of this market. I have increased my target to $0.15 pending breakout above the $0.10-$0.13 range where a larger set of trapped longs exist. Trapped longs are traders who locked in on a price point but failed to execute a stop loss. When this happens investors will try to hang on long enough to allow for the price to return to near their price in order to break even or take a small loss. This is incredibly risky considering once price action returns to that price point it is more likely to continue going upward for a time as greed overtakes their fear.
