ShadowCash Preparing for Another All Time High

ShadowCash appears to be sitting on a critical support, and with strong investor demand for privacy-centered coins like XMR and DASH, SDCBTC  could be preparing to follow suit with a large advance over the next few months if this support continues to hold. If this support fails then it will be a good idea to steer clear of this crypto for awhile. Fundamentally, this could come down to the development announcement planned on March 17th by 10:00 UTC. This is most likely going to be the release of the public beta for Shadow Market, which is a decentralized, on-chain, anonymous market that uses ShadowCash for currency. The private alpha was released back in November, so this is the next logical step, but it could honestly be anything,we’ll have to wait and see what they say.

Also if the news of a public beta does come out, that could attract a lot of new money into ShadowCash because many anonymous vendors will create their own Shadow Market stores and that will create an active economy on top of Shadow’s blockchain that is using ShadowCash exclusively for transactions. It’s also possible that this technology could be disruptive towards the current anonymous market structure by removing the cost of centralized markets stealing participants funds and taking large fees. The dark net market industry is massive and growing rapidly, and recent estimates put them over 21m USD a month in transaction volume . Being that this coin can also be used to hide funds much more cheaply than bitcoin -10.78% tumbling it could also be used as a way to hide illicit funds which is a huge industry as well that goes along with anonymous markets. Fundamentally, this coin has everything going for it, if the Devs can deliver.

If this support holds, there are quite a few resistances we’d have to break through before we break All time high, most likely we’ll get some minor retracements at each resistance and then continue up after a short dip, so its a good idea to watch when it nears each resistance and possibly take some profit and look for a lower entry. If all the resistances fail and we break all time high then it will be a good idea to buy even more (or increase leverage if exchanges decide to add leverage) because there will likely be a lot of hype and this coin will continue to increase massively against BTC -10.78% .

Shadow has had an amazing run so far and smashed through the first two lower resistances with very little actual resistance. We’re now at the major 0.618 resistance that is accompanied by a bearish gartley pattern, while I think it is very likely that we continue up from here it is a good idea to watch for resistance here, and possibly to take some profit and look for a lower entry if we don’t smash right through this zone too.

Now we’re coming up on the larger harmonic bat resistance. We may get another minor retracement like we did at the gartley resistance, but I do think that this has enough momentum to continue up after some retracement. However, it may still be a good idea to take some profits here and look for a lower entry again if this doesn’t shoot right through this potential reversal zone and break the ATH.

I do think, however, this is going to retrace at least some of this panic, and possibly all of it because the Particl market in itself isn’t a bad thing, it’s just not what old investors wanted/were expecting, but if new money starts flowing in because they like the idea then this could definitely recover over the long-term.

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