Burstcoin (BURST) is a cryptocurrency based on a proof-of-space (PoS) algorithm, which uses a mining device’s available disk space instead of following other energy-intensive mining methodologies.
It has been consolidating in a falling wedge over the span of 2 years and has just recently broken out to the upside.
The average directional index (ADX) is greater than...
Not much of a discussion because there isn't much to say from a technical perspective. This is market manipulation 101: we are back in the Point of Control POC , the price point with the highest volume . At a base level trade volume is dry with random peaks up or down as the asset is manipulated.
$BURST reached long term support line and in the meantime coming closer to the apex of the falling wedge which is quite bullish.
In the upcoming weeks if price will make successful breakout out of the falling wedge we might see up to 268% gains.
On daily chart MACD there is a clear bullish divergence.
Green - buy. Red - sell.
It's not a financial advice.
After an downtrend burst is making an uptrend.
So keep an eye on this. Take position into this when market is stable.
Invest at your own risk as it seems good profit from here but market manipulation can do opposite things as well so if you enter then do by using stop loss as well and invest only what you can afford to hold/loose for long in crypto.
Burstcoin bounced from its big historical support level (green line). It is possible that price falls again to retest this support level or fall below to test the second green support. Anyway, Risk/Reward is good enough to entry for long in my opinion.
I did not enter to this market, but I follow this coin regularly. the team and the project is great and the new...
-Proof-of-Capacity (PoC) algorithm that avoids the ASIC arms race that resulted from Bitcoin and other Proof-of-Work (POW) consensus algorithms.
The Dymaxion is the integration into Burst of a number of protocols and ideas already proven by other cryptocurrencies. This list includes the use of:
-Tangle technology from IOTA