BlockNet "The Self-Proclaimed Internet of Blockchains""As always, I recommend for every one to further expand their knowledge and do as much research as possible when investing. These are my own personal opinions and should be considered educational resources rather than financial advice. Good luck out there cryptonauts.
Target #1 = 0.00370
Target #2 = 0.00390
Target #3 = 0.00399
Target #4 = 0.00420
Stop-Loss = 0.00325
RSI = 53.041 (Uptrend)
About BlockNet
The Blocknet is a revolutionary advancement in cryptographic technology: a true peer-to-peer protocol between nodes on different blockchains. This is the foundation of a technology stack incorporating an API and an application platform, which enables open-ended application possibilities and vastly reduces development time.Cryptocurrency projects stand to gain a vast increase in user base and profit potential when they join the Blocknet, as their technologies can function as services on any other blockchain or traditional network. The Blocknet has no central or core currency and is thus a truly open inter-blockchain framework that can be extended as widely as the internet was. The Blocknet is infrastructure for the coming "inter-blockchain era", an emerging technology epoch characterised primarily by the superseding of the current API ecosystem with an intrinsically monetizable "token ecosystem".
If blockchains are to achieve their true potential, then broad, generic interoperability between blockchain services is required. Without inter-chain interoperability, blockchain-based services will either (a) deliver services only within the confines of the limited customer base that runs its nodes, or sacrifice the unique security properties of blockchains in delivering to centralized entities, and (b) face enduring problems with chain bloat and, relatedly, the market-related pressure to build further features onto a single chain.
From a software-as-a-service (SaaS), the token ecosystem embodies two fundamental advancements: (a) the comparatively frictionless monetisation of services, and (b) the leveraging of the unique robustness, decentralization, and security properties of blockchain technology. By creating an "internet of blockchains", the Blocknet is positioned to enable the frictionless monetisation of APIs, and in doing so, to empower blockchain technology by converting its thousands of isolated chains into a token ecosystem.
Further Info: blocknetprotocol.com
BLOCKBTC trade ideas
BlockNet VS Bitcoin Inverted Head And ShouldersBlocknet has been moving downwards for over three months, after reaching btc 0.007 high in August 2017. Price declined down to btc 0.001, resulting in 85% loss to the Bitcoin. Since December BLOCK/BTC has been recovering and went up as high as btc 0.005, while breaking above the 200 Moving Average.
The MA has been acted as a support that clearly was respected by the market. After the last rejection of the Moving Average, BlockNet broke above the neckline trendline of the Head And Shoulders pattern, suggesting the continuation of the uptrend towards previous highs. The resistance area is between btc 0.0065 and 0.0075 which is expected to be reached in the short to medium term.
On the downside, the support area is based between btc 0.0028 and 0.0024, where only daily break and close below could invalidate bullish outlook.
ast bGood story and curving upThis precious coin wants to make nodes across blockchains able to communicate and offer services to each other, such as computers in the internet talk to each other and use products offered via an api.
I'm not sure about the status of the implementation since this project is rather old from 2014. It was born before Ethereum. And still the concept is more important than ever and had created some buzz around recent ICOs that promised to do the same.
The coin looks good to go for another pump cycle. The MACD turned around to positive bullish divergences and the price found support on the 100 week average for some days now. The price broke any major support line that can be drawn. Now is the time to accumulate and to hope that their product is ripe before the ICO projects get going with their implementation. Or that they can jump on the "me too" bandwagon and appreciate in value.
EDIT: Looking at the past bubbles it doesn't seem finished yet. They all went down to zero and below the level of where the bubble started. So here is not the end of the downward movement but maybe a little spike to the upside.
Blocknet undervaluedBLOCK is a guaranteed moon mission. The Blocknet is a cross-chain interoperability project that has been in development for 3 years and is finally wrapping up its first major project producing a WORLD CLASS fully decentralized exchange featuring trustless ATOMIC SWAPS: meaning no 3rd party fingers in your coins. A beautiful User Interface like none other we’ve seen is being made by VSA Partnerss themselves.
BLOCK has Bitfinex on board, BLOCK has the 0x protocol on board, BLOCK has BitBay, Stealthcoin, Digibyte, and Syscoin on board. BLOCK has tons of trading pairs tested on its exchange. BLOCK has pretty much everything on board. It is the Blockchain router everyone has been waiting for connecting blockchains directly.
Imagine Ark, Binance, Dash combined and put on steroids - that is what BLOCK is and I’m not even exaggerating.
Masternodes and staking offer lucrative passive income, ONE HUNDRED PERCENT 100% OF ALL TRADING FEES ON THE EXCHANGE AND NETWORK ARE ALLOCATED TO THE NODES AND STAKERS.
This is not a drill, this isn’t by any means your typical shillcoin. 2017 was the year of the ICOs. 2018 will be the year of protocols.
Got my counts wrong...But MORE importantlyThis is an example of what not to do. Now understand I am a newbie. But my counts were wrong. I stayed in the trade way to long, and continue to be in it because of that mindset of: Well maybe it will come back up soon! But the fact of the matter is, if I continue to trade like this, without managing my risk, and continuing to incur 20% losses because I am wishing and hoping for a rebound, I will be out of an account soon. And so will you.
Psychological management of the negative sentiment type is by far, as I am learning, one of the most underrated skills a trader can have. Yes, TA and FA are skills one needs. If you believe in only TA, then the other 50% of your skills need to lie in psychological fortitude. If you believe in only FA, then the other 50% of your skills need to lie in psychological fortitude. If you believe in TA and FA, then the other 33% of your skills need to lie in psychological fortitude. You get my point right.
If you are not developing your ability to manage the psychological component of trading, you are in trouble.
I am in trouble because I wrote this before I exited a trade I should have exited a long time ago. I am not proud of that.
But I am proud of the fact that I am recognizing what I need to do. I acknowledge it...
And now I am going to go exit that trade.
Adios
Block - ominousCurrent market trends have not been good for alts, and BLOCK has fared well. However, the bull trend has given way to sideways motion. I think this will drop with a BTC surge, then induce panic selling. Could also channel sideways for awhile before resuming upwards. In any case, not a buy until we have a clear reconfirmation of the bull trend.
Blocknet - Falling Wedge, buy on breakout - 30% profit targetFalling wedge pattern signals potential continuation of uptrend. Buy on breakout above the falling wedge with a 30% target at the previous high at 0.0065. An extraordinary amount of upward trendlines converge on the previous high at 0.0065, it seems all roads lead to 65 if we can get the breakout up. On the daily chart this coin is sitting in an impressive uptrend channel and we are near the bottom of the channel, so a strong position for heading back to the highs.
BlockNet Bull Flag Based on the longer term bull flag that we broke above and out of 12 hours ago (see inspiration chart below), we now have what appears to be a shorter term bull flag forming. I suggest waiting for a strong breakout before entering the trade. Target 25-30% or new highs for BlockNet. Volume looks like it's building behind this one, and there is a strong uptrend channel on the 1day chart.
Blocknet bullflag - rough target +25%looks like BLOCK/BTC has formed a large bullish flag continuation pattern. target price is a rough estimation and is labeled on the chart. could go higher than that, could also not go higher than that. if it follows this pattern I've outlined but doesn't make a new all-time high, then this could signal a double-top reversal.
fundamentals on this coin are very strong - AFAIK it's a decentralized exchange coin that has had a working test product for a while now.
trade at your own risk.