Hello Steemers!
Bringing a Darknet ($DNET) chart to the table today!
DNET is currently ranked 127th on coinmarketcap and has had quite interesting waves in trading so far.
Fore more info about Darknet check out their website and their Bitcointalk thread:
Website - https://darknet-crypto.com/
BCT thread forum - https://bitcointalk.org/index.php?topic=1262920
Starting of with the clean charts, I will be showing the weekly and the daily charts.
weekly chart Poloniex -clean - Dec. 30, 2016
We can see how DNET has entered a downtrend at start of it's trading at Bittrex, making a bottom on about 325 satosh and being traded between 400 and 800 satoshi for about 6 months and then starting a hard pump and marking a new high on 2500 satoshi.
daily chart Poloniex -clean - Dec. 30, 2016
After zooming in to the daily we can see how the start of the trading was very volatile, and the firm floor on about 450 satoshi while the accumulation was going on.
Added some lines using the daily chart.
weekly chart Poloniex -lines - Dec. 30, 2016
With the lines on we can clearly see the major accumulation level DNET has undergone between ~325 and ~825 satoshi, with the upper half above ~570 satoshi, and lower half bellow it.
daily chart Poloniex -lines - Dec. 30, 2016
After the pump the price came back into the ~570 satoshi line from where it sharply bounced, entering a short uptrend for a while, with a spike to about 1400 satoshi, but then kept slowly going down and is now traded at the very top of the accumulation zone at around 780 satoshi.
Fib again to get a more clear view of the situation.
weekly chart Poloniex -fibs - Dec. 30, 2016
The fib confirms the major accumulation zone between ~325 and ~800 satoshi, with one above it going up to about 1150 satoshi.
daily chart Poloniex -fibs - Dec. 30, 2016
At the moment the price seems to be slowly breaking the ~800 level support and entering the major accumulation once again.
What to expect?
1st (green) - The price has found a new bottom on ~565 satoshi and will confirm it and start going up progressing fast through the fib levels and going for the all time highs.
2nd (yellow) - The price has marked a bottom at ~565 satoshi and is establishing a floor around 800 satoshi at the moment, and will make a new accumulation zone between in the yellow , 800 - 1150 satoshi.
3rd (red) - The price drops down into the major accumulation tone, progressing lower towards the all time lows, where it makes a slightly higher local low and then starts slowly turning and progressing upwards through the accumulation zone
COMMENT
Once again, I will post the comment by commenting as it involves my personal opinion!
Thank you for understanding!
If anyone has any questions or need's help fell free to ask, I will try to explain as fast and as best as I can.
Critics, comments, reply's, counters, advice's, etc. are always welcome!
Have my charts helped you in any way?Let me know with a comment below :)
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DISCLAIMER
I am showing multiple scenarios on the price movement, in the post itself I do not take any stance, either bullish or bearish. I am not responsible for neither you’re winning nor you're losses upon trading! the "comment" section is my personal opinion and does not mean I have to or do hold any positions in the given market.
Everyone who uses TA develops his own unique charting style, please keep that in mind.
Kind Regards, OZ :)