Ascending triangle - should be near the bottom of the channel depending on which one plays out : Higher lows + flat top. Had highest close today with H printing on volume for significant volume. Might get another low, might not, but I added to my long on the pullback after the high. Top of channel should be around $40 near S4 on monthly as ultimate target. This would be wave 5 as we already had 2 impulses up.
Fundamentals:
Market cap is only 87m for a very well respected proof of activity coin based on concept by litecoin lead dev - plenty of upward room left. Here the litoshi introducing them for their speech - youtube.com/watch?v=x2VOfCsg2uU
I would estimate the ideal market cap for this coin at this point around 200-400 m if the next few major votes and forks the votes enforce on protocol level go off without a hitch
roadmap for this year is nuts: Lightning network + segwit, voting, staking, smart contracts, unknown privacy method (fingers crossed for mimblewimble) blog.decred.org/2017/01/09/2017-Decred-Roadmap/
Tezos ICO and announcement of EOS this month as well as eth dev centralization issues and btc/ltc issues with miners is bringing attention to experimental governance coins, especially DCR I think, but also lesser known ones like bitshares/steem that innovated on the dpos scheme. However in no existing coins is the governance as built in to prevent lead developers from having too much power and going against community like with eth self-bailout disaster, but also to allow innovation to occur securely to avoid miners with too much power.
I used to hate lock up periods for any coins PoS staking, but after listening to interview with dan larimer he explained it's done that way to prevent people from buying tokens just to destroy a cryptocurrency, as they would have to stick around and suffer the consequences of their voting financially. 1 month or so lock up for voting tickets now seems more reasonable to me.
This is a very exciting project to me personally. Long term with well done governance and checks and balances, you can build enormous amount of complexity on a solid foundation like this.
@waranchai, not sure. we tested $30 twice, got a higher low so maybe ascending triangle, but if the low gets below $17 that will form a double top and be bearish. i'll probably get out below $17 with part of it.
Satur9
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dem fundamentals! dat analysis doe! *dabs brow*
spacetrader
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@Satur9, and yet still only speculation. btc could moon to 40k because dumb money fomo, polo noobs panic and dump everything to floor. I don't trust anything to work in crypto haha :) never even close to all in.
Satur9
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@spacetrader, the way crypto is right now, there is absolutely no requirement or incentive to put reproductive organs in jeopardy :D not with hedging, stops, risk mgmt, etc.
polo kray-kray right now tho
ljs411
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Well written and informative. Thank You for your effort on this.