In the daily timeframe, VARA has lost a lot of liquidity, trading nearly 90% lower than December last year.
The macro outlook is definitely grim, but that doesn't mean vara can't be traded in lower timeframes for swing trades. Although I doubt that it will reclaim it's previous highs, a good +15% here and there is still reasonable to expect in lower timeframes.
In the 4H, VARA has been trading in very evident cycles ranging from bullish to bearish. The current cycle, being bearish until we see a reversal of higher lows and higher highs.
When considering the 1H timeframe, VARA often increases 10% up in a few days, which makes for a great swing. The best strategy being buy low and sell high, aiming for +10% which is relatively low risk.
A great starting point to trade coins like VARA would be first t o look at the macro - aka the weekly or zoom out in the daily. What's the general trend direction, are we making higher highs or lower lows?
Form there, you can move to the 4h and do the same - using trendlines to guide support and possible bounce zones. Remember to keep the stop loss tight as the macro is currently bearish, which makes longs higher risk.
Overall, many alts that have been released after the "titans" struggle to hold opening day prices. Few and far are those who actually reclaim and make higher highs 12 months later. And although these coins have more volatility and are great for swing trades, I wouldn't exactly consider them for accumulation.
The macro outlook is definitely grim, but that doesn't mean vara can't be traded in lower timeframes for swing trades. Although I doubt that it will reclaim it's previous highs, a good +15% here and there is still reasonable to expect in lower timeframes.
In the 4H, VARA has been trading in very evident cycles ranging from bullish to bearish. The current cycle, being bearish until we see a reversal of higher lows and higher highs.
When considering the 1H timeframe, VARA often increases 10% up in a few days, which makes for a great swing. The best strategy being buy low and sell high, aiming for +10% which is relatively low risk.
A great starting point to trade coins like VARA would be first t o look at the macro - aka the weekly or zoom out in the daily. What's the general trend direction, are we making higher highs or lower lows?
Form there, you can move to the 4h and do the same - using trendlines to guide support and possible bounce zones. Remember to keep the stop loss tight as the macro is currently bearish, which makes longs higher risk.
Overall, many alts that have been released after the "titans" struggle to hold opening day prices. Few and far are those who actually reclaim and make higher highs 12 months later. And although these coins have more volatility and are great for swing trades, I wouldn't exactly consider them for accumulation.
Trade active
Another great strategy is to watch the moving averages in the 4H. During an uptrend, you will clearly see the bounce zone is the 50d MA, aka the green trendline. And during a bearish season, or lower trading, the price will often wick up to the first trendline as well:Trade closed: target reached
As long as the price trades UNDER the moving averages in the 4H, it is bearish. No sign of a turn around until the opposite happens:
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Discord Server
discord.gg/xHJRka3
Cryptocheck Website
thecryptocheck.com
SoftQuant Website
softquant.io
discord.gg/xHJRka3
Cryptocheck Website
thecryptocheck.com
SoftQuant Website
softquant.io
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.