This is the last round of @tonyr 's contest
It has been a fruitful and educational contest. Watch out for this space or follow me as after this round, I will be sharing a post detailing how I got through all the rounds of this contest. There are lots of learning points, emerging strategies and general trading discipline that hopeful traders will most certainly would want to ponder. Please do read the disclaimer below to be guided accordingly.
This is my entry for Round 12.
| Coin | Units | Buy Price | Bitcoin Invested |
|---|---|---|---|
| Ripple (XRP) | 7060.152 LSK | 0.00007082 | 0.5 BTC |
| Lumen (XLM) | 31,269.543 XLM | 0.00001599 | 0.5 BTC |
| Total | 1 BTC |
Analysis
If my memory served me right the the highest i've seen for Ripple is around 0.0001 + and after being quiet for some time in terms of the project development (ie, news died out, no more visibility, wallet instability etc) ..it just rippled down the drain drastically. I'm glad to see more positive news recently with this coin and I think the year 2018 would be a good year for Ripple.
Technical-wise, XRP is showing a very nice upward trend and what's more interesting are those overshoot's of the high bollinger band which is expected and for me these are traders finally reaching their target break-even price and when they realized the trend they buy back just above the middle band (bollinger). This is an eye candy for sure if you are day-trading as those waves would give you at least 5-8% gain every cycle.
Now onto NXT, this is a very promising coin TBH but sustainability is questionable here. I am including this for a 3-day trade on this round because of the hype it's getting for next year and how ARDOR is pushing it's price... as long as ARDOR keeps moving forward, NXT will lead the way. There is a breaking point though, and remember ARDOR was given freely last year and many were disappointed, mostly turned into ARDOR bag holders, they could be behind the hype and wanted to push the price to a level they are comfortable dumping for a break-even price,... and that price? we don't know.
Disclaimer
Trade at your own risk. The above analysis is my own view and I take no responsibility of your trading behavior. It is best to do your own research and analysis. Take my points lightly :)
To find out how to join this contest please read the post here.
VOTE @precise for witness at https://steemit.com/~witnesses
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