Burst Coin Sits at Major Support and Resistance Line

  • We (Burst) has reach a very critical support and resistance level on the chart. We need to break this this level 0.000032 and hold in order for it to have support for upward movement.

    Here is the chart: alt text

    We've tried to break this S & R previously but without success. However, multiple touches on a zone usually indicates breakout. A decent amount of Bulls (Buyers) need to get in to over take the Bears (Sellers). We shall see, as we hope for the best.

  • @FXALTareeq said:

    Bulls (Sellers)

    You meant the Bears, right? 🙂

  • @FXALTareeq I am really happy we have a professional currency trader behind burst now because you can almost tell us what we need to do and how burst will react in the next few weeks. You will really help us to make the value of this coin rise. 😃

  • I don't think its going to fall below 0.000032 again, as there are many buyers ready to buy in that price.(May be I am wrong, I am no expert to this)

    Buy orders in Poloniex

    0.00000034 43060.92796920 0.01464072 0.01464072
    0.00000033 311698.55273400 0.10286052 0.11750124
    0.00000032 727477.16773746 0.23279269 0.35029393

    C-CEX still has buy orders for 0.00000030, possibly because the orders were not cancelled

  • @Propagandalf said:

    @FXALTareeq said:

    Bulls (Sellers)

    You meant the Bears, right? 🙂

    Yes that's what I meant and have corrected it. Thanks for letting me know. Have a magnificent day on PURPOSE!

  • Several of the assets that Bursters have invested in have payouts in the beginning of each month. Depending on how much money these assets generate, they might affect the charts too, creating a boost on a monthly basis. Therefore, we may expect the price to rise a bit more through the following days. Poloniex is currently at 36 satoshi per burst.

  • All looking very good to me, I must say.

    Also, you're very right about the purchases being made with the staked coins for BURSTaker asset, and there is a pretty significant amount being done this month. So I would say the upward movement should be sustained.

  • When Trading currencies, stocks, commodities, futures etc NOTHING keeps rising steady. There are ups and downs in ALL markets. Young coins like BURST are really prone to have major dips especially when they are bound to other cryptos. That being said. There are a lot of Shorts in the market on Burst at the moment. As a Professional Trader with over 26+ years of experience I expect there to be some retracement or dips back down a few satoshis. Don't get worried it will happen and most likely within the next few days. What I would like to see from on the chart is a movement called an Acapulco (it is a Forex trading system that I teach) to happen If that does happen then BURST will recover and move back upward. The 0.00000041 level is the next major hurdle and Support and Resistance level. alt text However, BURST most now hold the 0.00000033

  • @FXALTareeq told you I predicted a dip today. After 26 years of reading the charts I knew it was coming. BURST must hold at the 0.00000033 level. There are a lot of Shorts or Bears here now. If you don't get Buyers back in above .00000033BURST could dip further. If you're investing in BURST for the long term just have patience. I'll give you guys my further analysis later on today. Currently I'm watching BURST from the Daily chart perspective.

  • I'm getting quite a bit of PM regarding trading. Here is a video that I did that explain

    and it applied to all forms of Trading. I go into more details in my Forex Trading course, but this should give the layperson a basic understanding of Support and Resistance.

  • I very much enjoy your analysis of the network Tareeq.

  • @crowetic said:

    I very much enjoy your analysis of the network Tareeq.

    @crowetic I'll be giving you the BEST that I've got. Listen when you get a chance check out my latest video analysis on "

    ". If gives the members here a Professional Trading analysis as to what is happening on the Charts.

    I plan on doing video analysis on BURST coin and when and how to trade is on a regular basis.