ALWAYS BET ON BLACK - Update 2

TESTING 40K SUPPORT

The sellers are cashing in at higher prices and as a result they have taken their sales to the limit of the previous support floor of 40K. A short term double bottom has formed confirming the buying strength. See here for double bottom and double top explanations.  http://www.investopedia.com/university/charts/charts4.asp

Here is the chart showing the current trading range which could be expected to stabilize if the sellers don’t push further.. If this range continues to consolidate the sellers will be able to get out what they want and the buyers will set a stronger foundation for the next push.

Click on image for larger view

The previous run-up volume is similar to the testing volume to break the support.. The possible final outcome is not clear but I am Betting of Black.

This is the result of running too quick and too high without enough support walls behind the attack so I would hope that we rebuild the support walls to 200 BTC before attempting any deep upward moves.

Here is the current Buyers vs. Sellers at MintPal Order Book:

Click on image for larger view

Equilibrium is reached between buyers and sellers with approximately 87 -90 BTC. But the buyers are continuing to pressure upward by displaying a steeper attack slope which should be toned down a bit until the buy wall has much more convincing force of up to 200 BTC.

I REPEAT what I said previously:

It is important to hold and strengthen these gains before any attempts are made for the next push up. Of course unless you have another 500 BTC ready for a coordinated attack at a time of day when enough people can continue to put support a wall behind the move.

Don’t forget about Black Shield participation as a coordinated effort by supporters to bring growth stability to Black Coin: http://www.blackcoinpool.com/news/an-update-from-the-dev-team/

Congratulations to all that participated in this push and now we must work harder to attract more people that believe in long term goals for Black Coin.

Get to work and do your part.. I am doing mine!

Buy Black

The following two tabs change content below.

Buy-Black

Latest posts by Buy-Black (see all)