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Vertcoin bear pennantAfter creating a big bearish move from the recent highs, Vertcoin has spent last month in the consolidation zone. Meanwhile, the coin has developed a bearish pennant formation. Pennant pattern forms when the price rallies sharply, then moves sideways or slightly to the downside. If the consolidation of the price movement takes place in the form of the channel then we have a bearish flag. However, in this case, the consolidation took place in the form of a mini triangle, thus bearish pennant is formed. This formation is traded once the price breaks out of the triangle in the direction of the initial move. As we have already moved outside of the pennant, then came back to re-test the bottom of the pennant in the form of a resistance, the price is again leaving the pennant in a move that represents the confirmation of the bearish pennant formation. Although the bear pennant formation points much lower to the new lows, the first big test for the bears is the zone between 0.0000915 - 0.0000860, which is a confluence of 127.2% Fibonacci extension and horizontal support line. This zone should be a great opportunity for bears to take some profits off the table and for those looking to enter a long trade.
VShort
by WhaleAgents
Vertcoin is bouncing Vertcoin has pushed above the minor trend line that has kept the coin under for around 10 days. The move facilitated the collection of stops which pushed the price higher to the first Fibonacci retracement of 23.6%. If the retracement is really serious, then a bigger move to the upside should follow, to at least 38.2% retracement or higher. The bulls will get more support as the price could not break the horizontal support around 0.0001200. On an hourly chart, the price is stuck in between the 100 and 200 MA. If the price moves above the 200 MA as well, then a move to 38.2% retracement is on the cards. If you are looking to buy, put yours stops below the 100 MA as that is the nearest risk for the bulls. Any move and close below that indicator will put more pressure on the bulls.
by WhaleAgents
VTC on 2 day timeframe - 2 scenarios! Pick yours ;-)First and foremost: I am biased with VTC as I like the project alot. Nevertheless my as objective take on TA on it: There are 2 possibilities here by simply looking at s/r + historical patterns on the 2 D chart: A) There is a possibility that we are leaning towards gaining momentum with VTC as we do have a falling Wedge pattern with a breakout and retest as of right now. This is supported by the forming of bullish divergencies on the MACD (both histogram as well as momentum of the EMAs / MACD line). Be aware that these divergencies are there but they could continue to form in another "downswing" move for a bigger timespan, before it actually starts to show in price action. MACD line itself is still below 0 and since we already had our crossover it remains to be seen if VTC can carry the momentum over the magical 0 line. RSI does not show any divergencies on higher Timeframes as of now. Volume did show some form of life - however I do not take volume as the most important indicator. Bonus: Looking at the green rectangles it allows interpretation of potentially having a similar scenario to last falls run. A long term support line that turns into resistance and then gets tested and taken out 1-2 weeks later (wen moon? 2 weeks!) B) Since the potential fractal is subjective for sure - this can actually also be a legit retest of former support line that now has turned out to be a monster of a resistance line. We got shotdown hard by it and the Itchimoku cloud on the daily timeframe - further making a case for a smackdown and a prolonged bear scenario. It should be noted that that resistance line does have historic value as its a horizontal support line that has been tested in the last 12 months multiple times!! MACD still is below 0 and it is possible that we will see a negative crossover soon, since the histogram is ticking downwards indicating that sell pressure is kicking in like Beckham used to do with those 21 meter free kicks. As of now: 12 k will have to hold and eventually we have to bounce from the falling wedge in order to confirm bullish momentum. If we fall through next support levels to look at are 9k, as welll as 7,5k and 5,5k. Either way, longterm this is a buy. Depends on the type of trader you are - if you wanna get in when bullish momentum is confirmed or if you wanna play s/r lines with close knit stops! Cheers!
by Tao_Trades
1
VERTCOIN (VTC) – over 500% possible earningsHi Guys! As all cryptos have been sluggish lately this situation seems to be changing. One of the great example is Vertcoin which is totally undervalued coin. It encountered over 80% correction since its maximum in October 2017. Ok so what Vertoin really is? Vertcoin is a digital cryptocurrency that is touted to be ASIC and Multipool resistant with its innovative Scrypt-N hashing algorithm. These resistants make Vertcoin a much more secure and truly decentralized cryptocurrency as compared to other altcoins. The motivation of Vertcoin was the fact that Scrypt-based ASIC mining chip that is used to mine Scrypt derivative coins such as Litecoin and Dogecoin is entering the mass market. That coupled with strong mining pool causes the strength of a cryptocoin to drop as it becomes easier for a specific party to pull a 51% attack and even monopolize the network. Scrypt-Adaptive-Nfactor was created to address that issue. Vertcoin is zero premined and as of the current design, only 84 million coins would ever be created. Vertcoin is said to be the next generation of coins due to its unique hashing algorithm. There may be more altcoins created based on this hashing algorithm in order to defend their network against ASIC miners. Today they announced on Twitter the have 518 Full Nodes which is in our opinion really good result. Most of the volume is generated on Upbit exchange against Korean Won. So most interested people of Vertcoin are from Asia. Coming back to the chart. We observed massive price gain. Everyone has seen this. Is it one time peak? Or is it preview of something bigger? We broke EMA100 (daily chart) for w while. We have to wait till we break for good and preferably we bounce off from this level straight up. On RSI we can see double bottom and very strong uptrend – positive convergence Moreover on MACD chart since March 2018 we can observe positive divergence. We are very low at Fibonacci scale. Fibonacci levels: Target 1: 0.00032860 Target 2: 0.00045460 Target 3: 0.00055643 Target 4: 0.00065827 Target 5: 0.00080325 Target 6: 0.00098793 We can observe new ATH but time will tell. This will be risky. We also need more volume to go higher. Be patient. Stay cool. Observe the market. If you like our job don’t forget to give a like. :) Thank you for helping us the best community on tredingwiev. HUGE Hugs WBM Team
VLong
by WBM_Team
5
VERTCOIN - look out for a bounceVertcoin has been dipping lower for more than two weeks now. During the time window mid-March - mid-May, the coin was consolidating within a box with a lot of choppy trading going on. Since then, the coin pushed lower after a failed move higher. Series of lower lows and lower highs has occurred since and the pair is now trading all the way back to 0.000138, which is the lowest the Vertcoin has traded since August 2017. Although this is a strong move to the downside, nothing ever happens vertically in one-direction. Hence, a correction to the upside is expected. A first sign of the possible correction may be the break of a short trend line connecting highs in the last couple of days. The break would facilitate a bigger move to the upside and a possible test of the big 0.000210 level, which represents a horizontal block of the resistance coupled with 38.2% Fibonacci retracement of the last big move lower. A possible way to trade this situation would be to wait for the break of the trend line and a comfortable close above both the trend line and the 100 MA on H4 chart. A position, probably around 0.0001550 as it now stands, could be opened with a target of 0.000210. On the other side, any move back below the trend line will most likely cause a false break out and the new lows.
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by WhaleAgents
Vertcoin - Huge potentialToday we are looking at the daily chart for the "People's Coin", Vertcoin. As you can see from the chart, when Vertcoin takes off it flies! I think we are finishing a corrective wave here as VTC approaches the uptrend support line. If so, we could see some gains really quickly. All of this is could be directly affected by Bitcoin, which you should always take into consideration when making a trade since its performance directly affects the alt coins. That being said when Bitcoin was hardforking in October of last year and the whole market was paralyzed, VTC went on a rampage! I think it has a lot of potential and recommend you keep it on your radar.
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by jpbrown1023
11
VTC - Buy between 1.47$/1.66$ (200%+ potential) Looking at this chart VTC is almost ready for a different direction. The black line is the important one here. This is a massive support line, bounced of it the last dip and I expect it'll do it again. Why? 1) MACD is making higher lows while the USD price makes lower lows. A new bull divergence will be very likely once VTC comes in the green buy zone. 2) RSI is almost at the bottom. Most likely BTC price will drop some more and VTC goes with it. But it is a waiting game if new divergences will be made once VTC reaches this area. On the 4H chart it is very likely this will happen. First upwards movements will likely go towards 2$ (upper resistance line). It depends on BTC movements if VTC will break out. In the bigger picture 5$ will be the next big resistance zone. The only problem now the whole market is facing is volume. So I do expect a estimated -15% drop for VTC and also for the other alts in USD.
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by Garlicsauce
1