Looking at a potential 2nd consecutive Pennant top which would confirm continuation of a bullish trend. I would expect a local high here soon, if it has not already occurred (the flag pole) on the 12th. The main channel continues to trend upwards slowly over time as cyclic trading occurs within. Overall this is a very healthy sign and like the previous pennant I...
Taking a position as it looks like a decent setup. Tight stops as always.
New Weekly & 3D candles seem to print a lack of market confidence. Perhaps a cool off time however in watching the order books yesterday and the extremely low volume, I dare say we soon will see new local lows. Liquidity is poor, and the sell side of the books is building dramatically with near 2 million coins on orders. I have a target between 6400-6800 sat which...
Last evening was a new 1 Week & 3D Candle at 0000GMT as well as all the other time frames. In the past two hours while watching the 1W RSI, it has now turned into willie (68.25). Tipping up, then down, up then down, there is some indecision in the market which could indicate a move in either direction. This is a very crucial point for Vericoin as far as...
As clear as day, VRC is flagging a bit on a shorter 2H TF. From the local low of 6700 to a new local high of 12599 to now 9000-9200 ish is to me a very healthy sign, and hanging very strong on .382 retrace. One of the very notable things about the past months price action is it seems to be respecting fib-levels, which is key to attracting the attention of traders....
Altho not a fan of short time frames, as I tend to trade longer time frame set ups, I think this is a bit of important information to consider. Looking at a 30M chart, after the very low voulme retrace, and running a 20MA you can see the constant strikes from below the 20MA up to it and slightly beyond, again and again and again. To my eye this is consolidation,...
Potential Tweezer bottom broken by current candle. Look for and expect the 200MA to get touched. We are surely retesting support levels at this point as RSI on 6H and higher Timeframes continues to move lower. A text book ABC correction, would plow threw prior weeks price levels as if last week never happend. I dont think that is in order here as the volume on the...
This morning I have up a 4H TF, and looking historically (points A & X) pre-consolidation I see a very similar pattern under a significantly heavier volume profile that may play out now that Point 'B' has Printed. If this is infarct the case I would expect point 'Y' to print similar to point 'X' however there does not seem to be available coins on the orderbooks...
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...
This weekend has been a nice small rally for Vericoin. 24hr Volume is just past $600,000 USD, and the market has moved with the trend. I'm not quite ready to say VRC is in a bull run quite yet, as the weekends highs arnt very much higher than last months run up, which brings me to my next point. Weekly Support and resistance levels. Weekly Pivot at 7785 which is...
I think it is safe to say that the multi-week pennant has been broken, however with every small break out come a upturn with the indicators obviously. Do note the 50 RSI bounce on the daily. Now that there has been a small market move, I would expect to see some increased volatility, in both directions under lower volume conditions for another indicator reset over...
Last evening with some high volume in a 200 sat range (6700-6900 Sat), Vericoin (VRC) tickled the top of the pennant on many occasions. This morning it has broken that pennant with a small step, this may be the 1st indication of a substantial market move if multi-week resistance turns into weekly support. Coins for sale on the order book are down from 2.34 million...