So most people will probably blow this off as TA (Technical Analysis) non-sense and I don't like sharing patterns to begin with as it encourages people to try "trading" rather than investing which most people are not mentally or emotionally equipped for but I feel bad for some of the people selling. The people who have bought darkcoin thus far have helped support a blossoming technology which I think can help to solve a lot of the problems in the world. If you own darkcoin, for the faith you have placed in the devs and the idea that is darkcoin, you deserve to be rewarded. Maybe not this week, maybe not 3 months from now but eventually, you will be rewarded and the world will be a better place with secure, anonymous transactions which you helped to support during its development phase. To help some people sleep better, I share with you these charts.
What you see here is gold back in the 70's. This is a monthly chart and shows what some would call a bullish pennant or bullish flag. If you disregard the huge run up which constitutes the "pole" of the flag, you have a descending triangle which is indicative of continuation in the direction the asset was moving prior to forming the triangle. Statistics have shown that around 70% of the time, these triangles break up successfully to the upside when formed after a large run up. I don't expect you to believe me, I expect you to go and do some research yourself. I am giving you enough freebies today.
https://i.imgur.com/NwZ6v8W.jpgNow, here is a darkcoin chart with the same descending triangle that I made a short while ago. Notice any similarities? Look at the waves, the overall pattern formed from the high to where it finally broke out of the triangle. These waves can be of different sizes. The triangle can be touched in different places. The length of the triangle can vary... but as long as the overall pattern and movement stays the same, the pattern is not broken. Can you guess where we are in the pattern right now?
https://i.imgur.com/t2H8BYR.pngNow you may think this is just a coincidence. Or you may think that a pattern that appears on a monthly gold chart does not apply to a 4h darkcoin chart. However, many of TA patterns are fractals. Patterns within patterns within patterns all occurring at different time frames that display the collective conscious of traders and investors. I have seen this pattern across blue cap stocks, monthly and weekly options, forex, commodities and most recently, bitcoin. I have traded this pattern many times and my win percentage does fall around 70%. Perhaps darkcoin continues the pattern, perhaps not. Regardless I am investing in darkcoin, not trading, and am using this opportunity to buy enough darkcoin to setup yet another masternode.
Earlier, I asked you to guess where you thought we were in the pattern. Here is a 12h bitcoin chart. Can you see the pattern now?
https://i.imgur.com/npZ5zF6.pngRemember, hoping the price goes up or exclaiming and crying when it does not, is not helping anyone, especially yourself. Instead, take this opportunity to learn about market dynamics. Research Fibonacci retracement, consolidation patterns, how markets are manipulated or even better, use this as an opportunity to learn how to control your irrational emotions and instead, analyze the world around you through a logical viewpoint. I wish everyone the best and I hope many continue on this journey with me of distributing power and decentralizing control. We may not reach the moon, but we are heading places we can only begin to imagine. This is the first of many steps towards the Singularity.
Tabula Rasa my friends...
