What's Golem Up To These Days? • If 61.8 fib retracement is broken, a retracement to 78.6% is highly probable. If support at 61.8 fib is only bounced-off of, previous fib extensions show it going to .00008966 first and .00009638 second. When this will happen is still a mystery as market behavior and buyer sentiment should be gauged with caution.
• Another scenario is that GNT will remain moving sideways for a little bit along the highlighted area between the previous retracement'ss 61.8 fib level and the new extension's 23.6 extension before continuing on to its next impulse rally. Both of these levels have shown to be supports/resistances.
• Although 61.8% or .00007850 seems like a reasonable entry to go long, I would watch it closely as there is a good probability that the next fib level (78.6%) will be tested at .00007050. My own buy set-up will be broken down into gradual purchases.
• MACD is at one of its lower points in the course of the last 30 days which means a reversal should be in place soon. This should make the bulls optimistic and trigger happy.
Entry #1 = .00007835 (-61.8 FIB RETRACEMENT)
Entry #2 = .00007835 (-78.6 FIB RETRACEMENT)
Target #1 = .00008966 (+23.6% FIB EXTENSION)
Target #2 = .00009638 (+38.2% FIB EXTENSION)
Target #3 = .00010182 (+50% FIB EXTENSION)
Stop Loss = .00006095 (Channel Break)
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only. it should not be considered financial advice***
Supercomputer
Golem (GNT) - Distributed ComputingGolem is by far one of my most favorite projects out there, their goal is to decentralize computing (mainly focusing on the CGI scene now) which can be a lot cheaper and efficient that regular render farms or server renting/building. Servers have to be updated with the newest hardware continiously to stay relevant and this cost's a lot of money (hardware/location). Golem offers us a new solution, people around the world collectively join their network and provide it with computing power. Not only can the computing power of this network easily exceed very large supercomputers in the future, but it is also efficient since demand and supply will dynamically scale how many pc's are participating and thus keep energy consumption fairly sustainable climate friendly.
Their main focus and goal is now to provide a service for CGI rendering (Currently supporting Blender) for both coorperations and individuals. From how I observe it Golem is still in it's early phase but once things get going it will be an amazing idea which also uses the blockchain (tokens) for tasks.
I do think Golem can scale much futher than just CGI rendering (current focus) and their real power lies in microprocessing for businesses. If business can borrow computing power from their network for cloudbased computing (think of all the app's you are using all the time) then they don't have to build/update/manage their own expensive servers which can cut a lot of unneccesary costs.
Anyways, from a TA perspective, golem just finished it's major downtrend and broke up from a the resistance line! TA-wise we are expecting a retest of 4 of the Major Downtrend (also shown in the chart) around 8000-9000 satoshis, currently trading at 5000, so nearly a 2x increase from here. After testing this leven we can see small pullback and probably a cup and handle forming, but longterm we are bullish and expect it to break this resistance too, eventually heading to 11000-16000!
Interesting times ahead, I do say it's a good-great hold from here long-term.
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Good luck trading, may the trading gods be with us!
-TheTrex
Elastic XEL breakout imminent Ascending triangle indicates continuation of XEL uptrend, watch for breakout next few days. If it breaks out above 16k until end of this week it will confirm monster C&H that is in the making.
$GNT GNT GOLEM Supercomputer. breakout, LONG!The Golem coins are limited, no inflation!
Golem can run the world's first and largest fully decentralized cryptocurrency mining pools.
From stock market predictions to big data analysis, Golem can speed up business computation while lowering costs and it can distribute the task of rendering C.G.I. , doing in minutes what would take days, for cheaper than anything else.
best wishes!
