Trading $DGB Digibyte on Poloniex as it skyrocks - Know how to avoid panic sells.
This is how I know which dips to sell and which dips to buy. Pay close attention to my order grouping and throttle settings on Poloniex. What it looks like close up and from far away make a world of difference and give you more time to work with when deciding on quick day trades and swing trades
As you can see in the picture above. There's significant support from 2100 sats down, this has held ever since DGB crossed 2100. The resistance at 2200 and above has been coming and going, not stable at all suggesting Bots are throwing up phantom ask walls to accumulate more DGB from panic sales. you will see the real resistance is at 3000 sats. I expect we will see 3k by the end of the day. I could be wrong but I have bet 56% of my portfolio on it.
As you can see from the image below the other trick is to not trade on Poloniex at all but to use it as an indicator while making your trades somewhere else like Bittrex, or Bitfinex or even Cryptopia is more stable than Poloniex these days. Really Bittrex seems like the only viable alternative for trading altcoins in the United States. If you are in Europe, Africa, Asia, or Australia you probably have other options. Here in the United States however Bittrex is closest in volume and closest in alt trading pairs to Poloniex.
Kraken has some decent options and a great trading platform but nowhere near the pair selection of Bittrex and Poloniex. There is of course Cryptopia and while they are pretty stable they simply don't have the volume needed to do quick trades. Certainly useful for trading over days weeks and months. While I do hold an account there like most exchanges (it's always good to have options) I really have not experimented with trading on Cryptopia that much to be honest.
Aaron M Daley
Daley Bitcoin News
https://twitter.com/aaronmdaley/status/871103500549095424
I hope you are right about this one too...planning on selling at 2945 :)
i'll be sure to keep you posted.....note for the future however, it's not a good idea to publicly disclose your closing position less everyone who reads tries to do the same. unless of course it's disinfo ;)
Jedi mind tricks my friend... :)
May the Force be with you.
Got a chill trading group on Telegram if you're interested.
https://t.me/joinchat/AAAAAEHSrhBIxEmWP_xmXw
not a pump and dump we just share info, some of us know what we're doing and the rest mostly listen or at least help track different markets, you know alert people when something's really moving or they read something somewhere, that sort of thing
That's awesome, thanks for the invite! I just joined. A bit all new to crypto trading and currently only use Bittrex, but I am finding myself spending a lot of time researching this recently... :)
Disclaimer: I am just a bot trying to be helpful.