Views on bitcoin and darkcoin

Heres a quick bitcoin update with latest chart below showing the rally since the bottom in April on Bitstamp with 4hour candles.

My green sloping trendlines are still providing support, I’ve made the one supporting the price currently a little bolder. Its still looking very healthy to me.

If I zoom out and show the same chart with 1 day candles in contect of the December bubble, looks like this;

Still quite a long way from those highs though! Can see what may be a shallower sloping boundary to the rally which is shown with those two pink lines, idea stolen from Artiti in recent comment. Hard to know if this rally will have some more legs or will kind of plateau here for a while but for now I’ll just observing happy to sit long.

Moving to Darkcoin / Bitcoin ratio for quick look, Darkcoin is in a bit of a slump since my last post. Heres a view from Bitcoin Wisdom with 4hour candles.

I miss the tools TradingView gives me on Bitcoin Wisdom but still can draw a few lines, from that view looks like ratio is heading lower, meaning darkcoin falling. It even looks like a mini version of the latest bitcoin bubble with double top and dead cat bounce in progress. Will it even go as low as 0.011 ? If it does go down to that level I’ll be buying more, ultimately I think the ratio can go up a lot but might have to wait through a mini bear market first.

edit: updates in the comments

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3 thoughts on “Views on bitcoin and darkcoin

  1. I’ve been observing DRKBTC on bitcoin wisdom throughout the day. This falling wedge makes me think 0.011 figure I mentioned in my post is unlikely to happen. Good entry point might be close to 0.015 if it gets that far. Falling wedge is usually bullish

    1. Thanks for that link, I really appreciate you posting, theres a lot in there I didn’t know about which I’ll take onboard and is a bit deflating.

      Even if Darkcoin isn’t the promised one though I think one thing this does show is the desire for anonymity is very strong in the community. Maybe it will pave the way for a better solution.

      Incidentally I’ve read a little bit about other solutions for anonymity and what I gathered is that ones which give better anonymity suffer from bloat of their blockchain which I’m already worried about in regular bitcoin.

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