Crypto Shopping Time!
If you are worried about the recent bloodbath and China's news, well don't be, it is actually time to buy some crypto. Crypto trading rule is simple: "Buy when prices are low and hold like a degenerate all the way up!"
On that note, I will be doing some shopping today, here are my picks.
To that picture I would need to add ICONOMI, its dead cheap at $1.30 and it should be an easy winner in 2 or 3 months’ time when they do their next buy back.
Enjoy!
Shopping cryptos right now thinking that coins are cheap is like buying a lotery ticket. Bottoms are almost imposible to pick, but buying in the down trend is risky, it could go down even further. It is better to see the trend change from bear to bull and then wait for a buying signal (or a couple of them). You will not buy at the bottom either but it will be less of a bet than buying on the down trend. Remember "The rend is your friend".
According to my technical analysis we could see a rebound from this levels, may be up to 3600 and then it will go down again. That is the short term. On the medium term we could be completing Elliot Wave 4 which means that only Wave 5 left before a long term bear market starts.
Here is my technical analysis
https://steemit.com/bitcoin/@freedomvigilante/is-bitcoin-going-to-recover-from-this-crash-technical-analysis-with-ledger-levels-fibo-and-elliot-wave
Hey thanks for sharing!.. I think it is amost impossible to find the bottom, so what I do is I buy in small portions all the way down and then when I see a rebound I buy hard...
Oh yes , buy the dip
Would love to do that, but I am already all in crypto ;)
Now we have only Big Panic in Crypto :)
I went further down the Top 100 list - bought TRIG, THC, and KORE all at "half off" their most recent highs. You're right, a great day to buy!
damned, never heard of TRIG, THC, KORE . Can you explain me why you are interested in those unknown coins?
Unknown to you perhaps but they have all been around awhile, so I wouldn't classify them that way. I'm somewhat new to this but have a small stake in about 35 alts right now. I pick based largely on believing in the product - i.e., does the coin DO something that I think (imho) could see larger scale adoption in the next few years, possibly resulting in 10, 100, or 1000X return? CVC and ARK are examples of coins I bought based on that idea. I am not a "trader" but a "Hodler" btw.
But in the case of these three, I was kind of testing a strategy promoted by Data Dash on YouTube, because I've found I agree with much of his other portfolio strategies and picks (as a newbie I've been reading a lot and and watching videos).. These coins had all been on my watch list but I was attempting to "buy low". He strongly recommends buying on the pullback, when a coin drops to 50% of a recent all time high. They often recover that ath price quickly, or in a few months, depending. It's a bit risky as they might continue to drop (he actually says wait til 50-60% sometimes) but combined with my idea of buying ones I want to hold long term, I bought these three bcz they all met that 50% drop criteria and I more or less believe in them, had been wanting them. I might've been earlier than 50% on TRIG btw, but I'd been wanting it awhile (FOMO).
Thanks for asking, hope that is helpful in your endeavors.
I might've gotten lucky, but altho two have dropped a bit today, KORE has already gone from the $1.93 I bought at, to $2.91 in 24 hours.
Also TKN is in this position now if you care to try the strategy yourself... at $1.29 currently, was 3.22 not long ago. 99cents earlier this morning I see, so possibly on the way up again. (This is not investment advice, trade at your own risk :)
good post
I think Iconomi was a great grab today
I survived the crypto crash of 2013. This doesn't even phase me.
@chitty Masses of knowledge. Many thanks. Resteemed.
Thanks friend.
This is the best time to buy and I will also be shopping! Thanks for sharing!