[Trading Alert] Buy Swarm City Token (Ticker: SCT)
Hi fellow Steemians,
I just went through the biggest loosers on Bittrex (last 24 hours) and found Swarm City Token. It has been in a uptrend ever since it first debuted on Bittrex back in March. However it has pulled back a bit to its weekly lower trendline which you can see here:
It has not yet touched the lower trendline, but it is really close and this could be a good entrence, or if you place a buy order at 0.001 BTC, that would do fine as well. This is how it looks like on the daily chart:
As you can see it is about time to get in. However, you could wait for it to touch the trendline and wait for a green candlestick, that could do the trick as well.
As you can see from the data below, Swarm City Token has a market cap of 21.8 million dollars, fairly low, it is today ranked 96 on Coinmarketcap.com
This trade is purely based on technical analysis, so keep that in mind.
Link to Bittrex where you can trade it: https://bittrex.com/Market/Index?MarketName=BTC-SWT
Happy trading!
Thank you for the advice. Had not yet heard of this coin and what its purpose is. Will read up on it and might decide to get in on the action. Really nice to share these kind of finds. Have fun out there and good luck with future posts!
you are welcome rymlen. I dont know much about this coin either, so for me it will be a pure trade but if you are looking for a long term investment, I definately think it is a good idea to look it up more closely.
I'm more of a buy and Hold type investor I look at potential market cap management teams etc. Am hoping it's the right strategy rather than day trading but I'm starting to think that day trading also has a part to play in my overall strategy and there's room for some "play" in my portfolio! Cheers!
Thats a good strategy to hold long term. I would say that approximately 10% of my crypto capital is placed in short term trading or swing trading. I usually let them ride for a week or two.
The rest of my portfolio is long term, several years ahead, and then you definitely need to look at the management team, crypto usage, uniqueness etc.
I am also a member of this Facebook club with 32000+ members:
https://www.facebook.com/groups/cryptocurrencycollectorsclub/
You can get plenty of tips over there, so its a good complement to Steemit.
Depends. They just published the first part of their product on the way to become a next Steemit, Uber, or whatever. Users do not seem to like it though. My guess, development is too slow for the taste of many. Will we ever see a comprehensive platform developed? I was happy with the recent gains and for now just holding. There is still a good chance they become a well-used social network in the (far?) future.
Thanks for your feedback. That sounds a little bit unclear what they want. Anyways, from a technical perspective, it sounds like a good idea to hold and see how this develops depending on where you got in (in terms of price)
Question regarding Bittrex, can you just immediately buy the Swarm city with USD or have to trade in BTC? Not a bittrex user and only saw BTC based markets... #NewbieQuestion
hi, its a good question, no you can not buy with USD at Bittrex, but if you already have Bitcoin, you can easily make a deposit into Bittrex after you have created an account. It usually take about 20-30 minutes to deposit from Blockchain.info for example