Well i said it before and i say it again. Waiting for a cryptocurrency to explode is a nice thing.
Especially when you are in before the big pump is happening. Then congratulations, ride the pump and don`t forget to take profits.
Here is an example with VRA and what happened the last few days.
Step1 - The pump
Well first of all, as you can see there was a kind of a consolidation phase.
And then BOOM , there was big pump. Which lasted about 45 minutes.
Please see my chart, where I am using the 15min timeframe.
STEP 2 - Lost of momentum
Ok what happened next. The momentum lost steam and some of the users have took their profits, that is just normal.I then draw a quick FIB Retracement from the bottom to the top. And know I could easily see what was happening.History proved me right and I went in again at the 0.618 Fib level. I also did some quick checks with the STOCH RSI, but this is it.
STEP 3 - Is this workin all the time ?
NOOOOOOOOOOOOOOOOOOOOOOO
Fib Retracement levels are in my experience the best way to identify rentry levels when you lost the train or when you are searching for an entry. Could it got wrong? YES… it could.. Because this is the situation 2 days later looks like this. You can also check this on Coingecko. https://www.coingecko.com/en/coins/verasity
Step 4 - After the pump back to the startline
Which means, the pump is over and we are now more or less at the same level as days before.
So my lessons learned is that I should ALWAYS take profits. But this is only my idea and yes i am not a professional trader. But for now i want to close off and which you all the best and trade well my friends.
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