Reading a candlestick chart is like reading a graph of human emotions, and it is not limited to the crypto market. Just a couple days goes Snapchat lost 1.3 billion of its value after Kylie Jenner tweeted she does not use it anymore. If you have been under a rock today you heard about the VeChain rebrand and everyone depserately hoping for Bittrex to support ZCL/BTCP fork. We watched VeChain do a mild run up since the market reversal in anticipation of its rebrand ceremony and as usual it never fails people ‘sell the news’
CEO Sunny Lu did a bit of trolling and you can see it in the charts, as people were selling the whole rebrand ceremony, and it dropped all the way to 52000 sats, then as the finale he revealed the rumors are true VeChain is partnering with BMW, and BAM value rockets again, but only to be followed by a further sell off.
Then we have the ZCL/BTCP ordeal that feels like a fiasco now. While ZCL already mooned since the fork was announced, there has been much speculation that it would continue to rise up to the fork, and it appeared to do that, but the time is fast approaching and the biggest volume ZCL site Bittrex still has not commented on whether or not it will credit ZCL holders with BTCP.
Besides my spare change investmemt portfolio those are my biggest 2 holdings right now, so its been an interesting morning for me. For VeChain I am 100% hodling this year, and the next 24 hrs are pretty crucial for ZCL, it has a pretty solid support at 1 mil satoshi, but it will slip real fast when it decides to go if their is for sure no exchange support. After the snapshot it will absolutley plummet.
Ethereum Classic is going a bit sideways right now, it dropped a bit from its recent high of 380,000 sats, but it has some support before what I believe will be one more final push to ATH before the Callisto airdrop. I think if we get BTCP support from Bittrex it will give confidence for Callisto airdrop so I think that will play a factor in ETC price.
This comic pretty much sums up a speculative market. 😂
Nice post, got to agree with you, reading those charts sometimes you can just feel the emotion coming off them... big spikes of green and people are shouting 'to the moon', loads of red, tears/crying/panic sells... i love crypto, love trading, and enjoy reading others views about it. That last pic really does sum it up nicely, oh how so very true! :) thanks
Wow nice post. Keep em coming. will folloy you for more in the future :)
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