Hello, i usually dont touch shitcoins but ASD catched my attention as it looks insanely oversold even if it is on its way "to 0"
ASD is a exchange coin for Ascendex exchange, its a pretty random pick i came up with as it was worst performing Coin in FTX in recent weeks.
It looks to me that ASD is having a "capitulation" soonish and im eyeing to buy some at 0.02 - 0.02544 with expectations for fast 2-4x return in the coming correction.
This is more like a gamble as ASD is propably heading to 0 longterm, but a potentialy profitable gamble in a time horizon of few Days.
Its a high risk / high return setup, so you shouldnt put much money in it. Its one of a few gambles im willing to take as chances looking good in my view for a big correction soon.
0.02 - 0.025 was the 2020 corona crash range for ADS and we should propably see a correction there.
This is ment for a fast Swingtrade and no longterm pick.
DYOR, and only invest what you can afford to loose in crypto.
ASD is a exchange coin for Ascendex exchange, its a pretty random pick i came up with as it was worst performing Coin in FTX in recent weeks.
It looks to me that ASD is having a "capitulation" soonish and im eyeing to buy some at 0.02 - 0.02544 with expectations for fast 2-4x return in the coming correction.
This is more like a gamble as ASD is propably heading to 0 longterm, but a potentialy profitable gamble in a time horizon of few Days.
Its a high risk / high return setup, so you shouldnt put much money in it. Its one of a few gambles im willing to take as chances looking good in my view for a big correction soon.
0.02 - 0.025 was the 2020 corona crash range for ADS and we should propably see a correction there.
This is ment for a fast Swingtrade and no longterm pick.
DYOR, and only invest what you can afford to loose in crypto.
Comment:
The google trends part i mentioned turns out useless as bitmax renamed itself to ascendex in 2021. still this looks very oversold and remains a promising setup.
Comment:
this graph on ascendex has more history and im not quite sure if the supp goes all the way down to 0.0123, even if i only expect it to stay under 0.02 for few hours and an insane correction should follow. so it may be worth having buys under 0.02 too.
im using no sl and only a small ammount of my money on this.
im using no sl and only a small ammount of my money on this.
Comment:
capitulation happened. taking initial money out here and letting the rest ride.
capitulation happened. taking initial money out here and letting the rest ride.
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im selling all at 0.06-7, after all this is a hot potatoe heading to 0 longterm. it may go up to my most bullish case 10c but thats too risky to wait for.
Comment:
another shitcoin that also looks like having a big correction in the next Days/Weeks would be OXY. also a random shitcoin pick on ftx. If you want me to chart that too leave a comment :p
Trade closed: target reached:
advicing to close here, it may or may not reach this red zone but right here is definitely a good point to close. this idea worked like a charm. i sold everything.
Comment:
im not trying to time the exact top, so i sold everything. expecting a huge drop after the top happened, so better sell too early then too late.
Prices are near 2020 low´s while google trends for AscendEX remain alot higher relatively speaking then google trend in 2020 for Ascendex. Basically theres a google trend / price divergence for ASD which makes me believe local bottom should be near.