EDG (Edgeless) - Launching soon

22 Ağu 2017

So EDG is an interesting token working off of the Ethereum network which offers an edgeless online casino. They claim that they are waiting to launch properly due to them finalizing their Vegas casino license, which could come as soon as the next 1-2 months. If they manage to get that, they say that they will be able to work with fiat currencies which would be a major advantage to crypto only. Gambling is a monstrous business, as we all know, and if they can crack a small fraction of it, they will be doing quite well. Check their site for how they claim to provide a more 'fair' gambling environment: edgeless.io/ I'm impressed by the fact that they suffered a massive loss in funds not long ago, due to parity wallet hack, and have still managed to progress without any major disruptions. From what I recall, their launch was always supposed to be Q3 / Q4 this year and they are still on track to meet deadline.

This chart is a slightly longer term view (1-2 months), expecting big moves once news hits and they are live. From a technical perspective, I'm trying out some new tools here to see if I can project targets. Trend line from the tops to project future resistance areas once new ATH is made. Fib trend extension on the entire move up and down. and then guessing on where some bounce backs might occur based off of current resistance areas and the fib extension. The target I've chosen is more or less where the fib extension of 1.618 is. If anyone has suggestions on how to better project potential tops, please let me know.

Price is low now, so with the potential upside, I have picked up a nice stack.

12 Eyl 2017

İşlem aktif

So this one barely stayed alive for me as that trend line break tempted me to sell. Decided to buy more instead as the news was pending. Since then, we got an announcement from the team confirming an update with first version of the platform launch, casino license update (not vegas license), as well as nice videos of the dice action and blackjack.

From a technical perspective, we broke support for a few days, but have since broken through resistance as well. I would guess that this is a strong break of resistance and with the news on the way and hype growing, price action will continue to trend upwards. A pull back to trend lines or close to it, wouldn't be surprising before a big push up.

First target at .0004, is still in play as I hope for a break to new ATH.

Let's see...

16 Eyl 2017

İşlem aktif

Breached ATH and in a little retrace now. Countdown to launch goes up tomorrow and possibly an announcement for their license. Expecting price to continue to rise with the countdown. Possible 'sell the news' when actual launch happens.

17 Eyl 2017

İşlem aktif

A short term look as the chart I posted was the daily. Went parabolic to say the least and now we are consolidating, which was definitely necessary. I still fight the urges to sell when I see corrections happening, but if you don't have the chops to be a hardcore trader, riding the waves is better.

So a nice triangle has formed. More or less symmetrical so technically, you'd say 50/50 on the breakout. I'm going to bet it's breaking upward as news is hitting Monday, a countdown to launch will be on their website, and I'm hoping they announce that they have secured their casino license. All of these factors combined, should send the price well over the previous high. Should their be anything lacking in the announcement, like less than positive info on their license, I'd expect price to drop. I've been all over their community groups for a while now and I'm confident that the they will come through. The team is reliable and has endured some pretty intense headwinds to still deliver a solid product.

If you are like me and trying to catch another nice swing up before exiting, then pay attention to that news. If you are a holder, I think you are good either way in the long term.