Hello Steemers!
Today I decided to chart an rather old altcoin, Viacoin.
I think that the $VIA chart is particularly interesting and offers some good speculation opportunity.
I will explain more on why i chose VIA and more in the comment.
The chart will be Poloniex based, and i will cover weekly and daily intervals.
As usual my charts will start off messy and end up cleaner towards the end.
Legend
Purple dashed lines - weekly previous support, should act as new resistance
Light blue dashed lines - daily previous support which should act as new resistance
WEEKLY BASED CHART/TARGETS
Let's start off with the weekly interval.
I will also show how the weekly interval looks on the daily, just so everyone gets a feeling where i drew all the lines from.
1 week chart Poloniex + previous low marked on daily- 04/08/16
1 day chart Poloniex + previous low marked - 04/08/16
Previous support levels marked out as usual, yet this time I didn't mark previous resistance level.
More on why so in the comment.
You can see how the price already used some of the old support points to make new resistance,
especially in the lower price area of the chart.
As I usually do, I'll put on a fib which will help me clean out the chart and recognize some targets worth aiming for in this longer weekly time period.
1 week chart Poloniex + fib + previous low marked on daily- 04/08/16
1 day chart Poloniex + fib + previous low marked on daily- 04/08/16
The weekly fib won't really help in the price range we are now but should be considered important
in the bigger picture/longer run.
1 week chart Poloniex + fib + clean + previous low marked on daily- 04/08/16
I left the previous support lines which closely correlate with the weekly fib lines or which I noticed have played an role in the history of the price. Those should be key points, or rather zones, of resistance in the future.
DAILY BASED CHART/TARGETS
1 day chart Poloniex, daily targets + fib + clean + previous low marked- 04/08/16
As you can see even on the daily chart we are quite low in the price action.
COMMENT
This time I will post the comment by commenting as it involves my personal opinion on the coin!
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 :)
Are there more people who are doing TA?
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.
Kind Regards, OZ :)