A Possible Burst
Updated
Burstcoin is a cryptocoin that uses a Proof of Capacity concept versus Proof of Work (Hard Drive mining versus GPU mining). According to some sites, it was the first coin to do a smart contract as well.
Barring any fundamental news on the coin, BURST has been trading in a month long pattern. In crypto terms, a month is a VERY long time. A day ago, burst tried to breakout of its resistance but dropped down. A few hours ago, despite the overall drop in crypto prices, BURST attempted another run up which has been tempered thus far.
While it's not a supported idea to BUY when the overall market is dropping, continue to watch out for this one. Given its small size (below USD50M) and month long pattern, this has the potential to double in size.
Resistance - 62
Support - 56
Barring any fundamental news on the coin, BURST has been trading in a month long pattern. In crypto terms, a month is a VERY long time. A day ago, burst tried to breakout of its resistance but dropped down. A few hours ago, despite the overall drop in crypto prices, BURST attempted another run up which has been tempered thus far.
While it's not a supported idea to BUY when the overall market is dropping, continue to watch out for this one. Given its small size (below USD50M) and month long pattern, this has the potential to double in size.
Resistance - 62
Support - 56
Note
It's getting exciting right now. Burst at 61.8
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