Re: [ANN][DRK] Darkcoin | First Anonymous Coin | Inventor of X11, DGW, Darksend and InstantX
Market keeps creeping up.
A kind of silent creep - 0.001 BTC per day on the valuation. There is buoyancy. Nobody wants to panic buy but there is more buying than selling.
Lets take a brief look at Darkcoin's longest range and most stable technical indicator (that I know of !
= my event horizon thanks) - the 1 week DMI which tells us if we're in a bear or bull market.When we zoom out to this level we can see that Darkcoin / BTC is one of the most consistently bullish markets around. The 1-week chart has only been in "bear" mode for any significant time once - a couple of weeks during last August.
Bears attempted to capture the 1-week market again during December and January but failed and since mid January the bear market has been dropping away.
As I write this, non-otoh bid liquidity is thickening up as patience with waiting for "the crash" starts to run out. There is jostling for position. There is volume *. There is "Fear" **. There is talk (and tok
). There is FUD. There is development. There is adoption. There is action.© Investopedia: http://www.investopedia.com/terms/d/dmi.asp
* last 24 hours greater than traditional high liquidity markets such as dogue. Largest weekly volume peak since June 2014.
** of the market running away, of asks being pulled, of Evan dropping one of his casual posts that IP obfuscation or reference node blah or is imminent or that the devteam or grown or whotnott
Last time I'll say it...although there have been new buys recently...price would tumble if not for the massive buy wall.
Your TA is appreciated, but please keep this in mind.
This is not correct. Coins that have the liquidity of Darkcoin require large buyers or sellers to come in to make large price movements. If I was a large seller and there was bearish sentiment, I would love Otoh's walls because they would allow me to exit my position with ease, induce panic selling (people would panic if they saw his walls get hit) and allow me to buy back lower. There's just plain nobody with enough coins willing to do that as they're bullish on Darkcoin. If Otoh's walls came into play a few months ago, I would have done exactly what I outlined here. I'm not willing to take the risk though as I am personally bullish on Darkcoin AND I realize too many others are as well for me to take the risk of selling that many coins.