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.
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