During the past 6 months Vertcoin has been moving upwards against Bitcoin, although at the end of October when it reached the 96k satoshi high, the price dropped strongly. The wave down was stopped at the previous resistance near 40k satoshi.
This is when a consolidation period started and since then VTC/BTC continued to trade within the range between 40k and 85k satoshi. While the support is holding it is likely that range trading will continue and VertCoin will go towards the 85k resistance once again. Nevertheless, although the upside potential is there, VertCoin remains a risky investment as price still could go back to test the uptrend trendline near 35k satoshi level.
This chart makes no sense and literally does not shed ANY light on ANYthing that's going on with VTC. It's clearly in a pennant-like channel and probably a few days away from making any significant types of moves.
@SimonWiesner, You know what? I've been thinking... I think the whales are going to fool everyone. I think most people want to buy this but the whales are tricking us. So, I just went all-in. I think VertCoin could be a good coin for the marijuana industry... You know, "Verte" for green in latin languages.
Simon1988
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@mightytrader, The whales know to play with everyones emotions, especially mine. Hmmm good thinking!
mightytrader
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@SimonWiesner, Just have some in for long-term (that you are willing to hold for months). Then have your BTC for short-term trades and pumps. Like I made money from XRP retracing a couple times today. Then you can take the profits and invest them into VTC; lock your profits from the PUMPS into a longer-term investment. That's how I do it!
I went all-in because I am trading too much and need to break from trading. But it's very difficult to stay all-in when you see other coins pump. However, I think the market is a little tricky and unpredictable now that it's the end of the year. I am willing to hold my VertCoin for weeks.
If not, I have some cash ready to buy up some BTC... but I am waiting for another panic or dip. ;)
mightytrader
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@SimonWiesner, Waves have to accumulate coins at cheap prices in order to cause the waves! ;)
Don't be alarmed if VTC goes down; it may or may not but it happens for a reason! The Whales or Market Makers are what make the markets PUMP; not crowds of the common people such as you or I.
CryptoPAMM
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@mightytrader, it depends on the coin market cap, crowd can easily pump it if market cap is very small
Simon1988
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@hitech,I have a love hate relation with pumpers, LOL!
mightytrader
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Yeah, I'm going to wait on this one. Better trades exist: PotCoin and TenX (PAYBTC) for the near term. $$$