PPC/BTC Technical Analysis – 25th April 2014

Peercoin 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 drops to a key Fibonacci level at 0.00475, as the bears take hold, due to certain technicals mentioned before.

We need to revisit our previous analysis to attain a clear understanding of what happened. I'm posting the chart from my last PPC/BTC analysis on the 22nd of April below (click to expand):

Where I mentioned, "The squeeze must come to an end. I'm going to stick out my neck and say this - the 38.2% Fib's support won't last for the next 48 hours, (like it has for the previous 48 hours), and we're going to be seeing price break below 0.0053, to test the 50% line later this week. I say this for a few reasons..." You can read those reasons here.

Fast forward to today's current PPC/BTC four hour chart below (click to expand):

Thus, as predicted, we can see how price managed to reach 50%, marked in blue, before pushing down once again, managing to break it to test 61.8% at 0.00475.

Right now I'm seeing conflicting technicals however, since we have 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 and Awesome Oscillators as red, but the Stochastics are extremely oversold, so I'm not really leaning to a particular direction for now. We may well see continued consolidation over the weekend.