Technical Analysis- Crypto Mother of all Updates incomming!

Technical Analysis- Crypto Mother of all Updates incomming!

By Cedric.

Hi again !
As requested here is a quick NLG/BTC analysis. It will probably be one of the last though depending on BTC evolution (I’ll be back on that in point 2).

1) Reaching historically low levels

Gulden is trading at sub 1500 satoshis and is currently in an expending wedge. But there is no clear entry. Anticipation and traders being on the watch and waiting for Pow2 release could be the reason.

This is ‘confirmed’ by NLG/EUR being in a down (and tight) trading range.
We are in an accumulation phase and whipsaw could go both ways (market is rather thin).

However price might be looking to reset this year lowest low of March 2017, a measured move of the large whipsaw from 5500 sat area seems to indicate that too.

2) Relevance of the NLG/BTC pair.
With all the fuzz going on with BTC, all the forks, etc one could question the relevance of the NLG/BTC.
Gulden and Bitcoin are 2 currencies in ‘direct competition’ sort of speak.

Gulden’s slogan is after all ‘Blockchain as intended’ and intended by Satoshi original idea…
Beside complete greed and attempt to make quick money from whales, BTC forks are also (and advertised as) attempts to upgrade a depreciating technology.

Bitcoin does indeed present a lot of limitations and risks, as it’s also the case for other cryptos.
Most of these ‘problems’ have been addressed by Gulden Founders in their white paper about pow2, see https://gulden.com/pow2 for all the details.

3) Trading plan… in EUR
It’s no secret I truly believe in Gulden as the ‘right’ cryptocurrency, just because well… it works!
Tatch Capital does indeed pledge at large chunk of its assets in NLG.

As an investor it make sense to be in an accumulation phase and buy any Gulden below 8 cents (lower part of the range) and as a trader to ‘hope’ for an undershoot below 6 cents (it went below 7 cents today !).

But as a trader the smartest move right now is to HODL open long positions and wait for clear patterns wether and regardless of if they form before or after pow2 release.

Much love
C├ędric

Tatch Capital Limited

GuldenTrader
GuldenBites.com

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