Altcoin Gains Today (Eg Vechain) A 'Dead Cat Bounce'?
Traders without a solid game plan may find 'buying the dip' to be an emotional rollercoaster due to current volatility.
Take VETUSD as a case in point.
As of publishing this chart VET is up 12% on the day. An amazing rally. However look at the overhead resistance that may stop Vechain's advance, setting it up for another major drop tomorrow (as much as a 40% downside target)... especially if the rest of the market takes another plunge.
At times like this, experienced traders will avoid buying into a choppy market unless they have a clear approach for Take Profit targets and Stop Losses or long-term accumulation plans.
SparksterSignals can help traders automate the process of buy and sell positions based on technical indicators and backtested performance.
Note: SparksterSignals (including our technical analysis and our algorithmic backtested signals) are not provided as financial advice.
Take VETUSD as a case in point.
As of publishing this chart VET is up 12% on the day. An amazing rally. However look at the overhead resistance that may stop Vechain's advance, setting it up for another major drop tomorrow (as much as a 40% downside target)... especially if the rest of the market takes another plunge.
At times like this, experienced traders will avoid buying into a choppy market unless they have a clear approach for Take Profit targets and Stop Losses or long-term accumulation plans.
SparksterSignals can help traders automate the process of buy and sell positions based on technical indicators and backtested performance.
Note: SparksterSignals (including our technical analysis and our algorithmic backtested signals) are not provided as financial advice.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.