Okey, so this one will be an in depth analysis of where VIBE is currently at and what I believe will happen in the near future.
A lot of us bought in the FOMO when VIBE was added to binance. A lot of us are losing money on this trade but we have to remember that VIBE is one of the few projects that actually have a working product. + a great team. The one thing they lack is advertising skills, which for us - investors is a hard hit. But again - do not worry, great coins come to spot light sooner or later. Remember XRP? Some of you might not like the coin but it's a great project for banks and it solves a lot of problems for them. The coin went from 20 cents to 3.20 dollars before correction. Same goes for ADA , IOTA ARK. Think long term!
So here is my analysis.
We are fucked in the short term. literally. BTC is in a bear market which means that coins like VIBE with less than a 300mil market cap are dying out there. I will not do a in depth analysis on BTC because there are multiple ones on TW which are decent. We will be in a bear market for atleast 7-14 more days. Don't give your hopes up just because the lunar new year will be over in 2 days. BTC has suffered massively due to wall street manipulation and Chinese manipulation. It will go down to at least 9k one more time. This means that VIBE will be down as long as BTC is down. That's the truth and we have to make it work for us instead of against us.
Okey, finally here is my in depth analysis.:
VIBE has done a full ABCDE correction. It does not mean that we have already reached the apex point of the E. I do not recommend buying VIBE at this point of time even if I have drawn a buy box at this level. There is a strong resistance line drawn which VIBE can't get through because of the low due to the bear market. I believe that this will be the case atleast once more. We broke down from out mayor support @7500 satoshi so we are going down lower. 78% retracement from the initial bull fun impulse is located at the 6800 mark. I suggest buying at these levels:
20% @ 7300 satoshi
30% @ 7000 satoshi
50% @ 6800 satoshi
We might see a slight rebound to 7700 satoshi(strong resistance line) before coming down even lower to our buy zones.
It is really difficult to say when and how much will VIBE explode. Some thing charts cannot read and that is human psychology. We are in a bear market and I want you guys to understand that. What happens to BTC will happen to VIBE x2. If China decides to pump BTC than VIBE will get some love as well. levels are really low but VIBE keeps climbing a little and dropping even more so the low levels don't mean much. The is in a neutral position so we can't learn anything from it too. My guess is that we will see a bigger pump to 9k when the level breaches the 30 mark. Until then, we are in a downtrend. I do not believe that is will go down lover than 6800 satoshi because that would the a full 78% retracement on the fib.
When we finally do break through wave 1, 3, 5 targets would be
These numbers will thange depending on what VIBE decides to do next so don't take these targets as hard targets. More like general areas.
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