Still in September, historically bearish month. People allow their emotions to get the best of them, and freak out when their favorite project dips.
Then forget to zoom out and try to understand where we are at entirely.
When taking a peak at
VRA on the daily time frame, there are a few things I see as to why I'm un-phased about recent price movements.
1) We are still on an upward trend overall.
Anytime the 250 RSI is above 50, that signifies that they overall price movement of an asset is heading in the upward direction.
VRA is still above 50 at 52.5, so for noobs there's nothing to worry about. Your money is safe.
2) Selling pressure is decreasing on the MACD and the MACD line looks as though it will cross from under the signal line.
Signifying bullish momentum, which the expectations is another move upward regarding price.
3) OBV is positive and is trending in the same direction as the price action. This is a big one because it basically confirms everything I previously stated.
When rising OBV reflects positive volume, that positive pressure leads to higher prices and
When OBV moves in the same direction as the price action. This allows one to confirm the direction of the trend.
VRA's price is increasing, as well as it's OBV. It confirms the anticipated upward move and increase in volume to support further price growth.
I'm literally just sitting back, unphased, waiting, and acumulating. Is Q4 here already?
Then forget to zoom out and try to understand where we are at entirely.
When taking a peak at
VRA on the daily time frame, there are a few things I see as to why I'm un-phased about recent price movements.1) We are still on an upward trend overall.
Anytime the 250 RSI is above 50, that signifies that they overall price movement of an asset is heading in the upward direction.
VRA is still above 50 at 52.5, so for noobs there's nothing to worry about. Your money is safe.2) Selling pressure is decreasing on the MACD and the MACD line looks as though it will cross from under the signal line.
Signifying bullish momentum, which the expectations is another move upward regarding price.
3) OBV is positive and is trending in the same direction as the price action. This is a big one because it basically confirms everything I previously stated.
When rising OBV reflects positive volume, that positive pressure leads to higher prices and
When OBV moves in the same direction as the price action. This allows one to confirm the direction of the trend.
VRA's price is increasing, as well as it's OBV. It confirms the anticipated upward move and increase in volume to support further price growth.
I'm literally just sitting back, unphased, waiting, and acumulating. Is Q4 here already?
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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.
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.