Techincal: I think we can use the red lines as support and resistance and may see a continued higher highs and higher lows up until the burn is done. We need to see a strong spike in volume and interest if are going to break the resistance and generate a strong high. Although 70% is being burned off the total supply 29,519,400 has been the median circulation supply since sep1 up until now. We have peaked at around 43,961,900 on the 8th and price was around $1.37 I'd assume from the current price we will reach about 90-162% Increase in price using inverse Fibonacci. I don't use it much, but Fibonacci Time Zone may give us an idea of trade movement zones. We can also see the oversold RSI and Stochastics preparing for Reversal
9/15/17 at 11 PM EST: 70% of total supply will be burned
What does this mean? The value of Trig would appreciate due to less total tokens being available in the future. But this does not necessarily mean the price will shoot up. We will still need to see a continued demand and interest in trading volume to see this token grow. Long term fundamentally I think Trig could have a strong future and covers an industry that could use blockchain to ease and secure a lot of the work.
Trade closed: target reached
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Target was reached, sold about 75% and holding some for the day of burn
Comment
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Here is a candle stick chart of basically how we traded this over at CryptOnyx
I realize this chart was probably hard to read for a lot of you
Some upcoming news, do you think we could see another small rise?
jacobhalton
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What happens to owners of TRIG once it's burned?
mumbojam
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@jacobhalton, What lol. They are burning tokens not the company.
freeloki
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@jacobhalton, They burn only available tokens that not in trade now.
Total : 100,000,000 TRIG
Circulating Supply : 32,105,593 TRIG
so all trigs that now not in circulating ( not on one bittrex market ) will be burn. that coins has no owners.
mumbojam
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@freeloki, Yes ofc it's an old trick but you can make money just buying and selling as I did and mentioned to my users
freeloki
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@sakuzi, ofc :) i bought it when it was 0,8$ for a coin ;)
Some upcoming news, do you think we could see another small rise?