It seems that Vertcoin is in a major bullish trend and based on my wave count, is currently in a Minor period Wave3 which should be confirmed at the breakout of structure marked on the chart. All EMAs are now upwards pointing, TDI shows continued upwards trend (Weekly Chart) yet to form a sharkfin, but still outside of the outer bands. The Sharkfin should play out at the end of the wave3 move with the wave4 correction, to then continue LONG for the wave5. In my opinion, this is a great opportunity to buy a great coin, which will no doubt be one of the big earners. Once breakout occurs of structure, i will be purchasing this coin and hold long-term.
---------------------------------------------------------------------------------------------------------------------------------------------------------- DISCLAIMER: This chart is for sharing and educational purposes only and is not intended to be a signal service or similar. This chart analysis is only provided as my own opinion, based on my own analysis and comes with absolutely no warranty that this analysis is correct, whatsoever. Do not trade this chart if you do not have your own strategy. Trade only with your own strategy at your own risk. Plan your trade and trade your plan... and IF in doubt, stay out.
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And this is why I never listen to any so called 'expert' and only do my own analysis and I make plenty profit.
The so experts called this a whale pump and they said it will crash or it is worth nothing etc... Then relatively shortly after, from a $4.00 entry point at breakout of structure, to a high of $10.00, now currently sitting at $7.35 at time of writing. Just goes to show, if you do your OWN analysis, you'll make lots of money. Happy trading all.
This is a whale pump. I think it will crash before segwit 2x. Just wait if you want to enter.
UnknownUnicorn661419
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@RobertUrsarescu, Maybe it is maybe its not... we don't know, we need the chart to show us what the next move is. If you have a good trading strategy, this won't be an issue.
Anyhow, thanks for the comment :)
MuMPiTz
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Thanks for your analysis. What do you think about people saying its going to be halving withing the next weeks or crash back to 1$ or less?
UnknownUnicorn661419
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@MuMPiTz, People 'say' a lot of things... good things and bad things. I don't do analysis based on what people say or think or what I think... I make analysis based on what I SEE and the information I have at my disposal. As with all markets, it is a game of probability, nothing more nothing less. There is no crystal ball to tell the future, but if you know where one is, please let me know :D so we traders can only use probability of particular patterns occurring on the charts. Sure there is always times when I am wrong, no one can be 100% right, thats just the way it is. This might be a spike, and it might not. If you have a good strategy in the crypto market then you need not worry about if it halves its value in the next weeks, because you'll have a stop on it or at least an alarm to notify you that a particular coin has gone down to a particular price so you can exit appropriately and quickly. This is the life of a trader, you take the good with the bad.
Therefore to those people who 'say' that it will Crash, the first question I ask them is 'SHOW ME YOUR ANALYSIS' and if the answer is that they don't have any, then they are plucking that idea out of thin air (that it will supposedly crash in the next weeks) and thus renders that response not worth listening to so why would you bother responding. Its like me telling you that pigs fly backwards but I don't have any evidence. Ridiculous.
But if the reply is that they provide you with analysis, then you can logicall discuss and debate the subject. I don't bother with people like that to be honest, its not worth my time and you might like to follow suit.
This reminds me of when bitcoin first came out, all the people that said that it was a sham and it will crash, especially when it was around the $100 mark... yeah, look who is laughing now :D I'm not saying that vertcoin is as big as bitcoin, but you get the gist of what I'm saying.
Anyhow hope that helps with your question.
MuMPiTz
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@PietroCasoar,
Thank you very much for the detailed response. I'm a total trading newbie but I'm also a man of probability, coming from the word of online poker :D. I was just wondering if from the perspective of an exeprienced trader the path VTC has taken looked suspicious in a way that it became likely for it to pull back a lot some time soon. Does the probability of it rising any further decrease or is there no theoretical limit for how much it can grow within a certain period of time?
UnknownUnicorn661419
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@MuMPiTz, No probs, I'm glad you took the time to write me... So before I can answer, when you say "the path VTC has taken looked suspicious in a way that it became likely for it to pull back a lot some time soon", can you please elaborate? For example, HOW did you come to this conclusion that it looks suspicious? Do you have any background information? Any charts you can show me? Any literature that suggests this?
Again I'll reiterate that no one, and I mean NO ONE knows the future so we can only go by what we see on the chart and what the fundamentals hint (in case there is some kind of hanky panky in the background that you know about and no one else does). Trading is a game of probability based on information and patterns. Sure crypto can also be a bit of pump and dump as well, but if you follow your trading plan this won't matter because you've implemented your safety measures such as stop loss and/or alerts. Coming from the Poker world, you would have most likely read about Larry Williams and the 50:50 probability strategy which allows you still make a profit even if you only win 50% of the time. Anyhow, I shall await your analysis or information pertinent to your question so we can discuss properly. Thanks.
MuMPiTz
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@PietroCasoar,
Sorry you may have misunderstood me, I didnt come to the conclussion that something was wrong with the path VTC took. I don't know anything about trading, really. But there was one person on here who said it would crash back down to 1$ or less and posted a graph. The way it looks to me is that trading is about analyzing patterns, so I was wondering if something about the VTC chart looked wrong and therefore I've said this. Anyway, heres his idea, if you want to have a look:
I know that I know nothing I've just started reading on here and sometimes I find it hard to filter out what could be wrong and what could be right, since there is a lot of contradicting information. One person is saying it will go up, another person predicts it will go down, ect :). Speaking of probability, I do understand that we always have a probability for it to go both ways and that it could be a cloes decission. Maybe I should just hold my investments and learn the basics first, I'm not sure if it's even possible for a total beginner to make a little extra profit by making trades based on the ideas posted on this site. Maybe I'm a bit delusional about this and I'm lighting money on fire, no idea.
By the way, one more question if its okay: I read a lot that TA isn't possible in crypto markets because crypto markets are too volatile. I've really heard this a lot but I've just ignored it because there seem to be many experienced traders on here who seem to make a living out of this. Whats your view on this?
Again thanks a lot that you've taken the time to answere me, really appreciate it!
UnknownUnicorn661419
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@MuMPiTz, crash to $1 ? Maybe, maybe not... who knows... One thing is for certain, absolutely NO ONE knows the future and trading isn't about being wrong or right as much as having a sound trading plan.
If the coin dropped to $1, i'd be out way before it went anywhere near that, because i have a proper trading plan. My trading analysis isn't for eternity, its for the short term. If something goes wrong, I can easily exit based on particular criteria. I don't listen to anyone, i just do my own analysis and use my own trading skills and strategy. If I lose a trade, who cares, I'll get it back on the next trade.
Interesting chart, but I just don't see it that way and to be honest, i don't really care if I'm right or wrong, I'm just here to make money and I do it my way, not copying someone else's stuff or believing someone's opinion and if it helps someone along the way, bonus. Problem is there are so many people who are so called 'experts' and who like to write lots of stuff but don't really show much evidence of what they are saying other than profanity like the author of that chart. In any case, if you want to do yourself a favour, start by studying trading, go to babypips.com and start learning there, that way you won't be confused any longer and you'll have a good idea of what you need to do in a trade whether to buy or sell.
MuMPiTz
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@PietroCasoar,
Okay, thank you! I will go on babypips and start studying a little, probably the best way to go! All the best!