GRIDCOIN (GRC) Analysis: Support needs to hold
GRC has been in a channel and has hit the top line twice and now about to touch the bottom line three times. The support line needs to hold for the bullish scenario to remain valid.
If this blog post has entertained or helped you to profit, please follow, upvote, resteem and/or consider buying me a beer:
BTC Wallet - 19gHMJc9wi9KkP47wokz8y4cFNgz1kAAUE
ETH Wallet - 0xf83641dbf1a53498eae6d0d568c969790da48a36
LTC Wallet - LU1mEw1LHvffoWf9VDEVdP7Day4jv6VLqu
EOS Wallet - 0xf83641dbf1a53498eae6d0d568c969790da48a36
Legal Mumbo Jumbo: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
To new traders: beware of posts like this.
To @haejin, please analyze more than just the price and a few lines, random Elliot waves, and a few buzz words. There are so many variables and you can't just draw some lines, plop in some numbers and roman numerals, and put a green arrow pointing up at the end. That's not how it works.
I cannot speak for everyone, but I do not think this type of market analysis is appreciated in the Gridcoin community.
Formed in late 2013, Gridcoin is a transparent, decentralized community which has developed a blockchain based incentive and reward structure for volunteer distributed processing. Gridcoin utilizes the platform BOINC (The Berkeley Open Infrastructure for Network Computing), an open source grid computing infrastructure released in 2002 at the University of California, Berkeley.
BOINC provides scientists and enthusiasts with a platform to host data which needs to be processed -- Data that might map the Milky Way, find prime numbers, fold proteins, test chemical and molecular combinations, Search for Extraterrestrial Life (SETI), or process any number of calculations.
Gridcoin developed a Distributed Proof of Research protocol (DPoR), also known as Proof of BOINC (PoB). DPoR rewards GRC to volunteers contributing processing power to BOINC projects. This system creates a decentralized currency which incentivizes the decentralized processing of the troves of data collected and created every day – from scientific, to mathematics, to social, to political – while also incentivizing the growth of the distributed network.
Want to know more? Website is here.
Are you serious? You're advertising on my blog but posing as a commenter?
Obviously, you haven't read too many of my posts. Each update is a continuation of prior posts so they add up. I've had comments saying charts are too busy, so simplified. Also, as you can notice, i am HEAVILY involved in the discussion comments!
Goes to show you, no TA is a dollar bill liked by all.
I don't think it's advertising, I think the user is telling you about the value of the coin.
As we know value and price are not the same thing. Looking at price charts is myopic if you don't consider the underlying value.
thanks for the insight haejin
can you do one for geocoin?