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VERTCOIN - Unsustainable growth?Recently we have seen parabolic growth in Vertcoins value, there has been no very relevant news that could have influenced this increase, however, they recently announced their currency will be available on the 'Ledger Nano S' wallet. Beside the fundamental standpoint when we take into account the technical view we can see that VTCBTC is following a previous pattern. I understand that you should not use past events to predict the future in trading but it should be taken into account and looked at carefully. Vertcoin is looking to recover back to the support line where you should look to accumulate unless it continues to drop you can re-think your position at a lower price, this is fairly unlikely and the growth should continue towards the resistance once the support has been hit. Orange Line - Resistance levels. Purple Line - Support levels. As always, trade accordingly. Good luck!
VShort
by thomasfar6
4
ETHEREUM - Inverted Head & Shoulders + Support and Resistance. Despite Bitcoin's recent upsurge in price, altcoins and Ethereum seem to be staying relatively stable and unaffected by the BTC's rise. From what I have been able to indicate Ethereum is still bullish, forming an inverted Head & Shoulders pattern if we can break this resistance we could be heading towards the $340 - $350 mark. However, there is still room for a slight pullback to the support level before a run-up may occur, if Bitcoin loses some value we could see Ether's price reacting positively as people tend to diversify their money into other cryptocurrency's to prevent losing money from a sell-off. Orange Line - Resistance levels. Purple Line - Support levels. As always, trade accordingly.
BITSTAMP:ETHUSD
by thomasfar6
BITCOIN - Short term loss projection. Bitcoin is following a similar trend to what has happened in the past, unfortunately, we can not use that to predict the future value, however, it should be noticed and taken into account. From what I am noticing a short-term sell-off could occur to send bitcoin around the low level $5,000 price, where you should be accumulating. As for the good news, it is rumored that Amazon may be implementing Bitcoin into their services, if this was to happen the price would absolutely skyrocket, there has been no official announcement but keep it in mind. The only problem I have noticed with this is that the Bitcoin transaction fees may be too high to purchase cheap or regular items from the website. Resistance Lines - Orange. Support Lines - Purple.
BITSTAMP:BTCUSDShort
by thomasfar6
2