If your Vertcoin bags are not full yet, maybe it’s the time to add more, before VTC skyrocket for another 130%.
Fundamentals are great and the Vertcoin/Bitcoin chart looks very promising as well. Korean cryptocurrency exchange UPbit listed VTC earlier today, which caused very nice price jump. Halving is coming on December 12. That means coin supply will slow down, which will lead to higher prices. And that’s not all. Developers just announced they have some special for for the community.
In celebration of our halving and in the spirit of giving back to our community, we have something special planned for you all in December. ☺
— Vertcoin (@Vertcoin) November 25, 2017
Let’s take a look on the Vertcoin daily chart to get a better idea where it is heading.
After a very strong bullish run from 0.0002 to 0.0009, Vertcoin started its consolidation. Price dropped and jumped a few times and the pole and pennant pattern is formed. What does that mean?
Pole and pennant is a continuation pattern. It means that price should continue in the prior direction (up), once when Vertcoin break through the descending trend line. We should use the pole height to get an idea what’s going to be the next top. The height of the pole on VTC/BTC chart is 0.00078 and we can expect the breakout to happens near 0.0006 or so. Just apply the pole height to the breakout point and you’ll get:
Pole and pennant pattern is well known among all professional traders and they will place their sell orders according to it. So, you can expect Vertcoin to reach 0,00138 – 0,0014 in the second half of December. I assume major players will place their orders around that number and maybe you want to act as one of them.
Below is an example of the pattern, so you can understand better what I’m talking about.
We should pay attention on chart indicators as well. As you can see MACD lines are ready to crossover and they points up. RSI is above 50. These are bullish signals as well.
So, what to do next?
I think it’s the best to hold your Vertcoins and to wait for better price. All chances are it will go up, so if you place sell orders at 0.00068 or 0.00073 (strong resistance lines) it is possible that price will just pierce through them and continue higher. Maybe you’ll never again have a chance to buy back VTC. Patience is the key.
Of course, I don’t have a crystal ball but have some experience in trading and this is how things usually works. This is just my opinion and you should do what works the best for you.
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