Crypto Coin Breakout Analysis (Episode 1)
I've been predicting a Vericoin chart breakout for a few days. It appears to be in progress. Dual signals can be powerful.. and today it is breaking out of a tight range as well as a 3 week downtrend. (price at time of writing is 10067 satoshi)
My trading style is very much a hybrid. I never trade only on technicals.. and I try to never trade without their aid. Dual technical signals are a strong ally if you find something which the market has decided to make juicy and ripe and under-priced. A few weeks ago I bought 10,000 vericoin at between 8400 and 9200 satoshi. Then I sold all of that at 17,000 satoshi right as the down trend was about to start. I only sold so that I could buy more back once the price dropped..which effectively lowered my already low average buy in price.
The last run up shot over 20,000 satoshi. Currently the market cap is under 2 million. Do not buy soley based on my recommendation. I encourage you to find out for yourself by downloading the wallet. Also feel free to hop on vericoinforums.com if you have any questions.
Here's a list of my other crypto investments:
- Steemit
- Synereo
- Factom
- Waves
- Bitcoin
- Ethereum (currently out but I've been going in and out)
- Siacoin (small amount)
- Storj (small amount)
If you want to know how to get into these crypto currency investments.. here is the short version:
Coinbase allows you to buy Bitcoin (or Ethereum now) through your bank account or credit card. It will take a few days to complete (the bank side of the transaction is slow)
Poloniex is just one of many Crypto Exchanges. Find your Bitcoin Deposit address on Poloniex and that's the address you'll send Bitcoin to from Coinbase. Their trading fee is 0.15% and there is a very small transaction fee if you move currencies out of Poloniex.
It is considered safer to move your crypto holdings out of the exchange as soon as you can to increase security. If you have another trading style which has proven effective for you, please share below! If you want to get into chart analysis, I recommend watching YouTube videos on Trendlines first and Bollinger Band Breakouts second.
Hi what are your thoughts on NXT ? I have been following them for sometime and it seems like the team is now focused. I see you like Waves. I am concerned about the centralization in Waves but have always liked Sasha. I am invested in his coinomat project .
I haven't learned much about NXT to be honest. Waves is currently one of my smaller investments. I'd like to learn a lot more about them. They mention something that sounds like eventually moving stock trading to the block chain which is ridiculously ambitious. Sometimes I'll put a small amount on a long shot that I don't have time to research or keep up with properly.
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