Overnight with a surge in BTC/USD prices Vericoin fell a bit causing a much needed down turn in the majority of the indicators. This ofcourse after a slight BB break out of a solidly defined Pennant and is now testing to see if infact prior resistance levels have turned into support, textbook trading here.
This may be a good bounce entry now or very soon depending on the markets reaction, however the volume profile was rather low.
I see this as heathy and needed, as well as expected after such a sharp upturn that went far past where I thought it would go, in the time frame that it took to get there.
To my eyes this is a Hidden bull div as the RSI is lower with higher prices from the last peak. Longer time frames seem to agree as the 1W RSI has not even touched the 70 level yet and hasent for almost a full year. To me this is all consolidation, over a longer time frame that intra day wont see, however time will tell on this.
I'm no professional, nor am I a market maker, This is just me sharing my personal thoughts with the public.
If you are not familiar with Vericoin some items of interest can be found below:
Homepage: www.vericoin.info/
Slack: vericoinandveriuminvite.herokuapp.com/
Twitter: twitter.com/VeriCoin
GIT: github.com/vericoin/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
My Twitter: twitter.com/BTCFailWhale
If this has helped you in any way & you are inclined to do so, a small thank you can be sent below.
BTC: 1um3313w6fJhrfirj9mXz7y2GAm761Tqq
VRC: VHqBcdAjkXVbaxZ7EsXsBzy2LLNyicgzDT
This may be a good bounce entry now or very soon depending on the markets reaction, however the volume profile was rather low.
I see this as heathy and needed, as well as expected after such a sharp upturn that went far past where I thought it would go, in the time frame that it took to get there.
To my eyes this is a Hidden bull div as the RSI is lower with higher prices from the last peak. Longer time frames seem to agree as the 1W RSI has not even touched the 70 level yet and hasent for almost a full year. To me this is all consolidation, over a longer time frame that intra day wont see, however time will tell on this.
I'm no professional, nor am I a market maker, This is just me sharing my personal thoughts with the public.
If you are not familiar with Vericoin some items of interest can be found below:
Homepage: www.vericoin.info/
Slack: vericoinandveriuminvite.herokuapp.com/
Twitter: twitter.com/VeriCoin
GIT: github.com/vericoin/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
My Twitter: twitter.com/BTCFailWhale
If this has helped you in any way & you are inclined to do so, a small thank you can be sent below.
BTC: 1um3313w6fJhrfirj9mXz7y2GAm761Tqq
VRC: VHqBcdAjkXVbaxZ7EsXsBzy2LLNyicgzDT