Hey guys, as some of you may already have heard, the Bitcoin hardfork is a couple days away. This upcoming event has slashed many alt coin prices violently and many alt coin prices are now critically in the red. Vertcoin VTC has also been affected but being strong coin it is doing better than most and the future looks promising. Here is my technical analysis and price prediction.
Since after dipping to a low of 42000 Satoshi last night the price has bounced back for a gain of 27% to the resistance level of 60000 Satoshi. The price has now dropped and looks like it is prepared to test the 42000 support level once again. If the test fails then at this critical pint the price will fall drastically. However since VTC is a pretty strong coin I predict that a double bottom will form and the price will rise to the 80000 Satoshi level to test the resistance zone created by the previous high. At this resistance zone a double top may form resulting in the price falling back down. However if the price trend is strong then it will blast to the Fibonacci target zone of 87-92000 Satoshi where it then will fall back to the support of 80000 before powering back up to above the 120000 mark. If Vertcoin remains strong which it is then we can expect a a good 100% gain after a couple days at the end of the first wave. Almost 190% at the end of the second wave. THE KICKER... A third wave should soon follow.
This being said anything can happen. Things can turn really bad really fast or really favorable. This is not financial advice and only from an analytical stand point.
PS. this is my first analytical post so "SHOW ME SOME LOVE" people :-)
Upvote, Resteem, follow TY.