black_squirrel

Reddcoin cycle change coming

Long
BITTREX:RDDBTC   Redd / Bitcoin
The Reddcoin market cycle began it's turn on May 11th with the disbelief spike to 26 sats .

Rdd's first cycle peaked, then had a break out 1169 days later. The current cycle hit's the same mark today at 1169 days away from the first peak of the cycle, and is coming out of the depression stage of sub 10 satoshi and is currently sitting comfortably atop that as support. The yellow base support line on the chart began Feb 27th, 2017, and is right in line with holding up the current emotional 10 sat support at the end of the downtrend line that will break before the end of the year.

With a market cap of roughly $40M as of today, and a 24h volume of 3.078 bitcoin , a 10x to 400M isn't as far off as you may believe. Rdd is still lacking in major exchange listings, any of which listings could definitely be a catalyst for the price to go up with demand. Bittrex is the main exchange, and looking at the order books, it would only take 450 Bitcoin to pump Rdd up to 120 satoshi right now. A $5M whale move could 10x the MC in seconds up to $400M, which would of course attract enough retail money to buy up the bags that were just set atop a 10x for about 1.5% of the new MC .

Created in 2014 Rdd is a benefactor of the Lindy effect where it's longevity will add fuel and trust to another run. Also, 43 of the top 300 wallets received their first coins in 2020, accumulation has been underway. Staking rewards, now tied to total number of coins staked, is currently around 10% and can't go below 5% with the new posv2 staking reward system.

I first entered Rdd at 8-9 sats in February, and added another 33% of my previous total on top of that today at 12 sats .

Targets for profit next cycle:

38 sats
82 sats
120 sats
----------
less likely but possible,
160
195
440


Good luck, and stay safe.


p.s. I see btc firmly claiming 14k before year's end.
Comment:
Comment: I definitely went early, and looking back I should have guessed the 10 sat support was going to be taken out. I was impatient to increase my position on this one.

The time to enter though is now up until the second downtrend line is breached and 10 sats reclaimed, which could both line up relatively soon.

Comments

It's getting exciting now....
Reply
It’s really at the end of the triangle... Can’t wait.. It’s coiling for big moves hopefully
Reply
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