The past few days have been rather interesting for Vericoin on market, as some fast market swings have brought an increase in volume as well as yet again some repeating patterns. A few days ago as I sat and had my morning coffee and breakfast, I witnessed a wild price ranging between 15k and 10.5k. This was not simply a single event either, as if you look back historically at a 1m chart it occurred a few times. Everyone loves price action so I dipped my toe in briefly, however it was entirely too fast for my liking and my suspicion arouse. Of course at the time it happened, I wasent in the frame of mind to trade well or make good decisions nor did I realize at that time BTC's incoming price drop. When a fellow trader brought to my attention BTC was teedering on a dip, it started to make more sense as it was probably stop loss hunting for Fiat traders that play alts-btc=fiat, purely for fiat and have no interest in accumulating BTC beyond their capitol. Fair enough! As the hours went on I started looking for confirmation of any repeating patterns historically to try and get any edge on potential future market movements and found one that I thought was now broken down (meaning it wouldn't repeat again) but it seems to have with some slight volatility differences. Those are highlighted in the blue boxes with the 20MA playing what appears to be a very key role.
Moving a bit forward I want to be clear that I'm no crystal ball reader, nor am I some all mighty market maker, (always be weary of those whom say they are) however I do believe that repeating patterns can give a slight edge if they happen time and time again regardless of the actual price. This is all about price movement, up or down and to capitalize on the best probably entrance. If historical patterns repeat im looking to see in the coming 8-24 hours some wicking, & perhaps some narrow body Doji's and a slice threw the 20MA again before any further movement up. How deep or how far it goes is any ones guess. This potential repeating pattern I have highlighted in peach color, and would also retest for a 7th time a 3 Week bottom of pennant that is a bit higher than my longer time frame 'channel bottom'. These prior 6 bottom tests are all rather clear to see.
Now that the charting stuff is out of the way, what else is going on with Vericoin?
In a nut shell alot! Lets crack that nut open a bit...
Douglas Pike who's the Lead Developer and co-founder of Vericoin (and Verium), has begun to publish some videos explaining the scaling issues that face many of the space's coins, BTC especially, ETH, and countless others that are relying on a single blockchain to do 'be' multiple things. The vericoin team is in firm belief that a binary chain not only brings more security but it also fixes the scaling problem, for the forseable future and rewards miners differently & better than a single block chain that tries to be a currency, a commodity, and a store of value. One chain simply cannot, nor should not try to be everything. The video explaining this binary-chain that was published yesterday can be seen here: youtu.be/hsTwMiVJnY0 and is geared to try and give people that may not be as technologically savoy the insight in a simple explanation as to why this is a better system than 99% of blockchains that are currently in existence.
As per the project's developement status page seen here: portal.vericoin.info...-future-of-vericoin/ Vericoin's new wallet is getting closer to completion, aswell as Verium's with an optomized built in miner.
Homepage: www.vericoin.info/
Slack: vericoinandveriuminvite.herokuapp.com/
Twitter: twitter.com/VeriCoin
Roadmap English: www.vericoin.info/do...loads/roadmap_V1.pdf
Roadmap Spanish: www.vericoin.info/do...admap_V1_spanish.pdf
Roadmap Chinese: www.vericoin.info/do...admap_V1_chinese.pdf
Have a great day!
Moving a bit forward I want to be clear that I'm no crystal ball reader, nor am I some all mighty market maker, (always be weary of those whom say they are) however I do believe that repeating patterns can give a slight edge if they happen time and time again regardless of the actual price. This is all about price movement, up or down and to capitalize on the best probably entrance. If historical patterns repeat im looking to see in the coming 8-24 hours some wicking, & perhaps some narrow body Doji's and a slice threw the 20MA again before any further movement up. How deep or how far it goes is any ones guess. This potential repeating pattern I have highlighted in peach color, and would also retest for a 7th time a 3 Week bottom of pennant that is a bit higher than my longer time frame 'channel bottom'. These prior 6 bottom tests are all rather clear to see.
Now that the charting stuff is out of the way, what else is going on with Vericoin?
In a nut shell alot! Lets crack that nut open a bit...
Douglas Pike who's the Lead Developer and co-founder of Vericoin (and Verium), has begun to publish some videos explaining the scaling issues that face many of the space's coins, BTC especially, ETH, and countless others that are relying on a single blockchain to do 'be' multiple things. The vericoin team is in firm belief that a binary chain not only brings more security but it also fixes the scaling problem, for the forseable future and rewards miners differently & better than a single block chain that tries to be a currency, a commodity, and a store of value. One chain simply cannot, nor should not try to be everything. The video explaining this binary-chain that was published yesterday can be seen here: youtu.be/hsTwMiVJnY0 and is geared to try and give people that may not be as technologically savoy the insight in a simple explanation as to why this is a better system than 99% of blockchains that are currently in existence.
As per the project's developement status page seen here: portal.vericoin.info...-future-of-vericoin/ Vericoin's new wallet is getting closer to completion, aswell as Verium's with an optomized built in miner.
Homepage: www.vericoin.info/
Slack: vericoinandveriuminvite.herokuapp.com/
Twitter: twitter.com/VeriCoin
Roadmap English: www.vericoin.info/do...loads/roadmap_V1.pdf
Roadmap Spanish: www.vericoin.info/do...admap_V1_spanish.pdf
Roadmap Chinese: www.vericoin.info/do...admap_V1_chinese.pdf
Have a great day!