PPC:BTC has been following the last fractal of the crash cycle to a tee so far. The main price action has been to pump, brake through previous lows and then eventually pump back up in a short squeeze/stop run type of manner…that being a hard & fast pump going right to the previous support & back down again.
Unless Peercoin can consolidate in the current range it seems destine for more down side pressure. The candles switching from red to neutral grey on the daily is nice to see. But again the consolidation must not breakdown because once red candles start to print again there is not much stopping it from making new lows yet again. Much like LTC the fate of PPC will be determined by how long BTC is going to stay bullish. Once BTC waves off for the summer markets like PPC & NMC should see more upside price action.
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June 30th, 2016