Verium (VRM) Overview
Verium (Ticker: VRM) was created to be an innovative, independent store of value asset, in addition to supporting the VeriCoin blockchain. Verium solves the blockchain scaling issue by introducing a new variable block-time paradigm that speeds up as mining power increases. This allows Verium to automatically scale, enhance transaction speed...
Welcome to this updated analysis on VRMBTC Let's get right to it!
If this bullish roll in, maybe VRMBTC will break resistance and reach 0.00044461 bullish flag projection.
A breakout above the trend line would cause VRMBTC to rally to about 1400%
Verium ( VRMBTC ) Trade:
Avoid loss by not going below
VRMBTC currently in an upward channel following it nicely at this point.
RSI showing bearish divergence and MACD reset which indicates a bull run coming in near future.
Target around 90k satoshi, waiting a week or two
Verim price started to rise on the 11th of December and went up from 13k up to 135k satoshi, resulting in a 958% growth in less than a month. The interesting thing is that VRM/BTC failed to test the 76.4%, but it broke above the 61.8% Fibonacci retracement level.
Price continues to bounce off the 200 Moving Average and the 4/1 Gann Fan trendline, suggesting that...
VERIUM could be one of the first currencies to pop out in the second alts rally of 2018. Despite it spiked yesterday (due to a pump&dump group) it's come back to the level it should be right now, and if resistance is broken it may go quickly to its targets at 202k and 318k. The bid/ask ratio in Bittrex is awesome too (4.500.000 VRM bid vs. 111.000 VRM ask). It may moon.
Verium completed a massive multi month cup and handle in August. Since then, aside from a few minor pumps, its price has been declining. Now, the 21 and 50 day MA have crossed and the 9 day has been solid support for the last week on the daily chart. Looks like Verium will be making a run up. There is a lot of room for upward mobility to an ATH. Buy in 30000 sat...
Rough trend analysis on VRM. Looks like an ascending triangle, suggesting a continuation of the upward trend once the flat is broken above the current ATH. I'm estimating the target at a very rough distance from the beginning of the flag, so it could rise to $10 or as high as $25.
The Falling Wedge is a bullish pattern that begins wide at the top and contracts as prices move lower. This price action forms a cone that slopes down as the reaction highs and reaction lows converge. In contrast to symmetrical triangles, which have no definitive slope and no bias, falling wedges definitely slope down and have a bullish bias. However, this bullish...
The price bounced from the support zone. RSI confirmed price reversal in the oversold zone. MACD histogram confirms upward movement and MACD lines are going to do the same within several days. ADX line of DMI indicator rises and it tells us that the market is going to move upward. We have the market at the local bottom and it's a good buy opportunity. Pending...
Today we buy Verium.
Entry: 45k sat
Target 1: 200k sat
Target 2: 300k sat
This mysterious dual-blockchain coin has only $3m market cap. As the developers have had a few beers in Goblin Town, the Goblins are now buying. We see Verium as Gold, transferring our precious Bitcoinses into Veriumses.
Happy trading! :)
P.S. This weekend starts YT series, next...