Trading For Fun & Profit: Another Potcoin Pump Is In Progress Now On Poloniex.
Here we go again! Another roller coaster ride on the Potcoin market at Poloniex:
Remember, you can wade in easy as to test the waters when it comes to trading crypto currency. Just don't wade into a moving roller coaster as seen here.
Here's the 6 hour Poloniex chart:
What am I going to do about it? Not trade it that's for certain. In the next 2-3 days the Potcoin market will pull back possibly establishing a new, higher support level as it did after the last pump I posted about. By Saturday or Sunday I'll revisit the charts to see if at least 3 almost matching support levels have been set before dating this coin again.
Just my 2 cents. Please trade at your own risk and never use money you can't afford to lose in crypto currency.
Have a great rest of the week, @bluehorseshoe
Update: Illustration of answer I gave to @fullertronic's question:
POT loves it pumps, I've been lucky to catch one in the past but I've missed the last couple. What's the secret? How do you spot them?
I can't predict their very beginning but by being lucky enough to pop in the right day and the right time of day I can spot them on the way up by the sudden surge of sustained then 1 or two green surges(blips of green higher) of buy volume uncharacteristic with a normal trading day. I'm a drive by trader meaning never sitting for more than 10-15mins to process some trades and sometimes missing complete days all together since it really is just a hobby for me. As a result, I miss many plays I could have spotted, oh well. This time I was only trade 200 at a time just to test the waters in Potcoin as I'm a long term investor already and just started round tripping it for the past couple of months since it's previous pump.
Thank you for posting and your question.
Thanks for your answer, I can see the small spikes in volume, makes sense.
My pleasure.
I'm going to add a picture from the October chart at the bottom of this post to better illustrate my answer.
Here was my first pump in progress post from 2 months ago if you're interested along with my 3 week followup post:
https://steemit.com/beyondbitcoin/@bluehorseshoe/the-potcoin-roller-coaster-ride-is-almost-over-wow-that-was-fun
https://steemit.com/potcoin/@bluehorseshoe/potcoin-technical-analysis-from-3-weeks-ago-a-pump-and-dump-chart-prediction
Lol. I remember Potcoin. Used to have quite a lot back in the day. Not sure if anyone actually bought any pot with it though. Yes these pumps are normally traps.
Yes, it's lure for rich list holders is mostly the name. Not much behind the curtain. If it was called something like AcmeCoin it would have died along time ago.