VENBTC on 4h
Hi guys,
Another update on another coin. This time it is VENBTC -4.80% -4.80% .
You are looking at the 4hourly chart, which tells us a couple of things:
- VENBTC -4.80% -4.80% dropped approximately 45-50% since the last wave up;
- We broke through the 32k sat support
- VENBTC -4.80% -4.80% is oversold on all timeframes!!
- RSI and MACD histograms are showing some signs of divergences
- MACD crossed up
- Volume is decreasing
My thought on this dump is because of the pauze of X node monitoring. All X node hodl'ers are able to swap their VEN -1.89% -1.89% on exchanges, which causes a huge increase in supply and trading volume . My guess is that they are trying to accumulate more VEN -1.89% -1.89% , before the lockup snapshot (september). Fundamentally nothing changed!
I am keeping a close eye on VeChain. I do not hope it droppes to the .786 fib level (around 18-20k sat), because that will be terrible for the VeChain hodlers.
Another update on another coin. This time it is VENBTC -4.80% -4.80% .
You are looking at the 4hourly chart, which tells us a couple of things:
- VENBTC -4.80% -4.80% dropped approximately 45-50% since the last wave up;
- We broke through the 32k sat support
- VENBTC -4.80% -4.80% is oversold on all timeframes!!
- RSI and MACD histograms are showing some signs of divergences
- MACD crossed up
- Volume is decreasing
My thought on this dump is because of the pauze of X node monitoring. All X node hodl'ers are able to swap their VEN -1.89% -1.89% on exchanges, which causes a huge increase in supply and trading volume . My guess is that they are trying to accumulate more VEN -1.89% -1.89% , before the lockup snapshot (september). Fundamentally nothing changed!
I am keeping a close eye on VeChain. I do not hope it droppes to the .786 fib level (around 18-20k sat), because that will be terrible for the VeChain hodlers.
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