NMC/BTC Technical Analysis – 4th April 2014
Namecoin vs Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term has been steadily falling since the turn of the year, but have the bears met their match? Specifically, a key support zone in the form of Fibonacci on a higher timeframe.
Thus, let's take a closer look at the NMC/BTC on the Weekly timeframe (click below to expand):
I've performed the Fibonacci study from the last major swing low on the W1 at 0.00115 to the high of the past year at 0.00153.
I'll make this short but sweet, since what's happened following the application of the Fibs is now clear for everyone to see. Put simply, price has stalled at the 78.6% level, and this zone has been tested before, circled in blue, which means it's a strong line of support.
However, the bears are still very strong. We also have a multitude of indicators such as Bill Williams' Oscillators, the Accelerator Accelerator An accelerator or startup accelerator is defined as fixed-term programs that look to foster investment, connections, sales, and education to kindle growth in a project.Most commonly this effort constitutes a public pitch event, demos, and other forms of marketing. Startup accelerators are most commonly associated with Silicon Valley, a global hub for investing and fintech.Startup accelerators however are a global phenomenon that privately funded as an investment fund. This nature of investing he An accelerator or startup accelerator is defined as fixed-term programs that look to foster investment, connections, sales, and education to kindle growth in a project.Most commonly this effort constitutes a public pitch event, demos, and other forms of marketing. Startup accelerators are most commonly associated with Silicon Valley, a global hub for investing and fintech.Startup accelerators however are a global phenomenon that privately funded as an investment fund. This nature of investing he Read this Term & Awesome as red for a number of bars, and the Stochastics heading smoothly down for many weeks, although they are now approaching oversold levels.
If we zoom into the lower timeframes however, such as on the H4, we'll see a lot of conflicts, so right now, it appears there's going to be some ranging for some time to come.
Namecoin vs Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term has been steadily falling since the turn of the year, but have the bears met their match? Specifically, a key support zone in the form of Fibonacci on a higher timeframe.
Thus, let's take a closer look at the NMC/BTC on the Weekly timeframe (click below to expand):
I've performed the Fibonacci study from the last major swing low on the W1 at 0.00115 to the high of the past year at 0.00153.
I'll make this short but sweet, since what's happened following the application of the Fibs is now clear for everyone to see. Put simply, price has stalled at the 78.6% level, and this zone has been tested before, circled in blue, which means it's a strong line of support.
However, the bears are still very strong. We also have a multitude of indicators such as Bill Williams' Oscillators, the Accelerator Accelerator An accelerator or startup accelerator is defined as fixed-term programs that look to foster investment, connections, sales, and education to kindle growth in a project.Most commonly this effort constitutes a public pitch event, demos, and other forms of marketing. Startup accelerators are most commonly associated with Silicon Valley, a global hub for investing and fintech.Startup accelerators however are a global phenomenon that privately funded as an investment fund. This nature of investing he An accelerator or startup accelerator is defined as fixed-term programs that look to foster investment, connections, sales, and education to kindle growth in a project.Most commonly this effort constitutes a public pitch event, demos, and other forms of marketing. Startup accelerators are most commonly associated with Silicon Valley, a global hub for investing and fintech.Startup accelerators however are a global phenomenon that privately funded as an investment fund. This nature of investing he Read this Term & Awesome as red for a number of bars, and the Stochastics heading smoothly down for many weeks, although they are now approaching oversold levels.
If we zoom into the lower timeframes however, such as on the H4, we'll see a lot of conflicts, so right now, it appears there's going to be some ranging for some time to come.