Intuit
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Is ShadowCash Preparing for Another All Time High?

POLONIEX:SDCBTC   None
ShadowCash appears to be sitting on a critical support, and with strong investor demand for privacy-centered coins like XMR and DASH, SDCBTC could be preparing to follow suit with a large advance over the next few months if this support continues to hold. If this support fails then it will be a good idea to steer clear of this crypto for awhile. Fundamentally, this could come down to the development announcement planned on March 17th by 10:00 UTC . This is most likely going to be the release of the public beta for Shadow Market, which is a decentralized, on-chain, anonymous market that uses ShadowCash for currency. The private alpha was released back in November, so this is the next logical step, but it could honestly be anything, we'll have to wait and see what they say. http://imgur.com/a/lSggv

If this support fails and the news is negative then definitely stay away from this coin, there is really no where you can short it, but on the upside it could increase a few hundred percent on the first run. So its a good r/r buy right now, and crypto in general has been very bullish this year, and the bull run on bitcoin is likely to continue and attract more new money into the crypto-sphere who will be looking for ways to diversify their blockchain investments, which means not only shadow but many other altcoins could likely see large advances in USD value, some that are greater than BTC's advance, like we've already been seeing with ETH, DASH, XMR, et al.

Also if the news of a public beta does come out, that could attract a lot of new money into ShadowCash because many anonymous vendors will create their own Shadow Market stores and that will create an active economy on top of Shadow's blockchain that is using ShadowCash exclusively for transactions. It's also possible that this technology could be disruptive towards the current anonymous market structure by removing the cost of centralized markets stealing participants funds and taking large fees. The dark net market industry is massive and growing rapidly, and recent estimates put them over 21m USD a month in transaction volume . Being that this coin can also be used to hide funds much more cheaply than bitcoin tumbling it could also be used as a way to hide illicit funds which is a huge industry as well that goes along with anonymous markets. Fundamentally, this coin has everything going for it, if the Devs can deliver.

If this support holds, there are quite a few resistances we'd have to break through before we break All time high, most likely we'll get some minor retracements at each resistance and then continue up after a short dip, so its a good idea to watch when it nears each resistance and possibly take some profit and look for a lower entry. If all the resistances fail and we break all time high then it will be a good idea to buy even more (or increase leverage if exchanges decide to add leverage) because there will likely be a lot of hype and this coin will continue to increase massively against BTC .
Comment:
Shadow has had an amazing run so far and smashed through the first two lower resistances with very little actual resistance. We're now at the major 0.618 resistance that is accompanied by a bearish gartley pattern, while I think it is very likely that we continue up from here it is a good idea to watch for resistance here, and possibly to take some profit and look for a lower entry if we don't smash right through this zone too.
Comment:
Now we're coming up on the larger harmonic bat resistance. We may get another minor retracement like we did at the gartley resistance, but I do think that this has enough momentum to continue up after some retracement. However, it may still be a good idea to take some profits here and look for a lower entry again if this doesn't shoot right through this potential reversal zone and break the ATH.
Comment: ALL TIME HIGH!!!

We broke through the bat with very little resistance so this is likely going to continue up significantly from here, at least to the next resistances and possibly much higher than that.
Comment:
Looks like this stopped at the next resistance and had a pretty severe retracement, probably because a lot of the old money in shadowcash that was expecting a decentralized dark net market panicked and sold when it was announced yesterday that shadow is actually going to change into a decentralized clear net market. While this is bad in the short-term, it does seem like this could be the bottom if 0.0016 continues to hold. Luckily for me, I was selling some coins at the higher resistances and I got in low enough that it never even retraced back to my original buy in price, but not everyone was so lucky. This is why it's always good to take some profit along the way instead of trying to hit a grand slam every time.

I do think, however, this is going to retrace at least some of this panic, and possibly all of it because the Particl market in itself isn't a bad thing, it's just not what old investors wanted/were expecting, but if new money starts flowing in because they like the idea then this could definitely recover over the long-term.

It would also be interesting if someone forked PART into a different coin that removes the "Self-governance" system (which is really just another way of extending actual governments laws) and allows for a truly free and decentralized anonymous market. If that does happen I could see that fork doing extremely well too.
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Comments

nailed it!
+2 Reply
damn good call son
+2 Reply
You really predicted this, good job! I hope I will see more of it.
+1 Reply
Great call!
+1 Reply
"this coin will continue to increase massively against BTC...." ah... this is music to my ears. SDC... best wallet out there... about to get better.
+1 Reply
What to do from here, hold or sell?
Reply
would you consider this a rejected breakout?
Reply
Where do you get your estimates of darknet market transaction volume?
Reply
Intuit bagofXMR
@bagofXMR, http://www.rand.org/pubs/research_reports/RR1607.html

Also looking more closely at the actual source the upper limit is about $25m and that was back in august 2016 so its likely much higher now. $21m is when you exclude "legal" drugs but if you're looking at total amount transacted with crypto you'd want to look at all of it so the $25m+ figure is more accurate.
+1 Reply
bagofXMR Intuit
@Intuit, Thanks for the info
Btw, i bought in thanks to your chart (i made my proper analysis of fundamentals/technichals) and sold enough to break even just before the breakout. now holding some free sdc and hoping it to skyrocket now that we have broken out.
Reply
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