VIBE (VIBE) Technical Analysis and Potential Trade.

BINANCE:VIBEBTC is an interesting concept to me, someone that has a background in Computer Science and AR/VR applications. I'm not completely sold on the need for this product to be on the blockchain, but I do believe that their concept is the direction that we are heading in the long term. I'm looking at this coin as my next potential trade after the jump in price a couple of days ago. I figured there would be a retrace and decided not to dive on in, I'm glad I didn't invest right away. I'm seeing an established short-term horizontal channel spanning about 0.00004 - 0.00005. Depending on which direction we go will dictate a continuation of a downward trend or a reversal of BINANCE:VIBEBTC. I do see the price consolidating within the wedge drawn out, so I think it's time we see some movement here. If we see a break above the channel with significant volume, I'll post some fibonacci targets and explain my trading strategy. Just giving some heads up as I would prefer to buy in at a higher price of a confirmed breakout rather than jumping in and getting burned. If you're interested, feel free to follow along!

I'd like to hear your thoughts on BINANCE:VIBEBTC! Please comment below, as the more input we see, the more informed we are!

*** This is not a recommendation to buy or sell, this is for educational purposes only! ***

Commentaire:

We're slightly down and still within the sideways channel. I'm staying out of this trade until we can confirm a reversal here.

Commentaire:

Still within our channel. If anything, we're trending downwards. My worry is that the oversold indicator was actually above the value that we're currently at. This is an indicator of a downtrend. However, it looks like our descent from the recent spike is slowing, this could be a sign of a flattening market before a rebound.

Commentaire:

I'm staying out of this coin until I see some positive movement and volume. We're way in the middle of the RSI channel and still going down.