Hi Steemians,
Bitcoin is increasing in value slowly after hitting the recent Low at key support level as shown above.
Is it going to be a trend changer or something another corrective wave or a bull trap.
Bitcoin Chart are showing clear reversal signals on medium TimeFrame charts and Altcoins are still mixed but do we care about altcoins?
What we know by historical Price Action based analysis is that altcoins are bound to follow the trend that bitcoin sets up.
So How do we trade market swing? Well! My strategy is simple. I don't try to hunt the coins/tokens that are already grown a lot. I try to grab newly launch and lowest price coins so that we can make a large amount of profit in terms of percentage. Who knows which crypto will be the next bitcoin.
I don't recommend selecting coins based on their lowest price, It's all about understanding the project and if you can see some potential only then invest your real money. The coin that is worth 0.01$ doesn't means can't lose value it can go as low as 0.000001 or much lower so it's best to do proper research.
But why i said lowest price coins is because If the trend really changes (i.e. bearish to bullish) then these low value coins can grow from 200-400% in value within days which off-course is not possible for Bitcoin to do.
Now moving to my own portfolio.
I have bought some coins and tokens today which are:
- 1- Verge (XVG)
- 2- SiaCoin (SC)
- 3- Dogecoin (DOGE)
- 4- BitShares (BTS)
Please note that this is not an investment advice. Always do your own research before investing
What to do you guyz think? Is is the trend reversal or a corrective wave of downtrend? Please share your views in the comments below.
Thanks For Reading
you said doge coin and put (DGB)
sorry that was a typo mistake. I have edited. Thanks for pointing out
i have high hope on dogecoin.
You add only 4 coin that not enough for investing and take profit.
Can you tell me in your research of potential projects , what is the quantitative measure or technical measure you trust to analysis ?