Emercoin set to go up

BITTREX:EMCBTC   EmerCoin / Bitcoin
There are 3 reasons why I think, Emercoin is set to go up:

1) The charts indicate it. A long-term downtrend has been broken for a while now, and the current consolidation phase could be over at any time.

2) There has been a huge buy wall on bittrex for almost 3 weeks now. Initially it was around 400 BTC . Now it's down to 255 BTC . So it's still massive, although I think it's only 1 buyer.

3) Emercoin is set to release an update with segwit support and something about smart contracts before the end of this year (2017). I don't know enough to understand the importance of this, but it might help the price to increase.

My view on Emercoin:

Not a hyped coin. Didn't even have an Initial Coin Offering.
Niche technology, too convoluted to understand for the average person. Used by Microsoft Azure, among others.
Not a scam coin, but some of the people behind Emercoin are frequently accused on bitcointalk for having launched other failed/scam projects.

I don't know a thing about Emercoins long term potential. I'm just looking for opportunities to buy low and sell high. I'm confused by the huge buy wall, wondering what it means. The chart I posted is not meant to be anything clever, just a guide to what might happen, based on what previously happened.
手動結束交易: The buy wall has disappeared. This makes things more uncertain, and for the time being, I have abandoned ship.
The bid wall is gone now. Monitoring to see if the original person puts up a new wall at some other price.
Hbasm Grantmo
Yes, it makes things more uncertain but at least it seems unlikely that the buyer, having spent all that money, will allow the price to tank completely...
Just an update on the bid wall...

The original bid wall has been removed and re-added at a slightly higher bid in BTC. But the total size of the bid wall is much smaller now.
Size from earlier today: 254 BTC (price in BTC 0.00009337)
Size now: 66 BTC (price in BTC 0.00009415)

The saga continues.
@Grantmo, thx for the reply. I'm also noticing no dip now that btc is rising. My guess is that the whale will pump soon to get more BTC and more USD
I'm trying to figure out the large bid wall as well. I came up with several scenarios and I believe it's most likely an investor with some insider information.

When it first came up, I thought it was temporary and it would disappear after a few thousand dollars were spent. But like you said, it's been there for weeks now and they've already bought over one million USD worth.

It's highly unlikely at this point that it's just an investor wanting emercoin "just because". That investor would have lots of other crypto options to invest in, like ethereum or dash, or even keeping it in BTC.

I decided to start buying since the bid wall prevents the price (in BTC) to go down below the bid wall. It's like holding my coins in BTC with the chance for a large move up. If the value of BTC should take a large move down, emercoin would either stay at the bid wall price or go up in BTC price to maintain the USD price. It's fairly low risk at this time.
Hbasm Grantmo
Yes, it could be an investor. But I'm also wondering if the buyer plans to profit only from using Emercoin services (for which you need the coins). If so, they may not want to see the price go up.

In any case, I have set a stop-loss in case they "pull the plug" unexpectedly, although the likelyhood of that seems low at the moment.
@Grantmo, hi, thx fir the analysis. I have a question: you said that the investor who put the buy wall bough almost 1 million dollar of EMC. Which tool are you using to quantify this number?
Grantmo haccainformatica
@haccainformatica, I have been monitoring the buy wall and the price on Bittrex and have seen the buy wall start at 360 BTC and get whittled down to where it's at now around 254 BTC. The price reached his bid on and off over several periods of time. There is a chance that he manually reduced the bid, but I know that many EMC were sold to him at his bid price.
Hbasm Grantmo
Correct. It was 360 BTC initially when I first noticed it, too, but on top of that were another 55 BTC as a separate buy. (if memory serves me right).
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