goldbug1
Long

Decred - DCR - Adding to the Portfolio

BITTREX:DCRUSD   Decred / Dollar (calculated by TradingView)
Ok after just posting the be patient let the market do its thing article, here I am buying DCR'. First I love the chart, of all the coins I looked at in trying to figure which ones would make coinbase this is one of the best ones period! Wonderful up trend period! Now this is still and early wave count so we will need to see how things evolve but I like it here for a target of $130.

This is purely an "add to coinbase" play that after speaking with a code writer after the show yesterday, he informed me this was one of his favorite coins. Well seeing he was the creator of Marscoin how the hell could I disagree? Ok Decred' is not looking to propagate planets, but when reading the white paper, it might have been the basis for coinbase's "requirements". So I want in.

To make this short and sweet, I understand clearly I am buying at a high point and this is a risky move by all means. So this may not be for everyone out there, but I have a plan and strategy so this is not a blind buy here.

I am adding a small position here and will look to add to the position on any pullback. I will also look to add a trade onto this position for the target of 3. This will help reduce overall costs.

Now I like wave ii where I have it and wave iii             can never be the shortest wave. However with cryptos wave v's are often the longest. So though I expect a pullback at around $100-$110 I will not count on it due to the count not being clear. Ok say that 5x's fast. But for clarity purposes and not to get into a bunch of fractals I am leaving it like this for now and will update as we go.

Bottom line:
1) Decred' appears to meet the intent of coinbase's white paper.
2) My buddy said he likes the code and intent of decentralization and he has only picked winners
3) The chart is as bullish as it gets
4) I want exposure but I understand we could get a pullback and I'm investing knowing this so this is 1/3 of a total position
5) The count is not clear but it should become clearer as we move ahead

I understand the risks and I am willing to buy here regardless to get exposure to this coin. It does not meet what I normally consider "investible" but as I have always said, its not what I think its what the market does, and the market clearly loves DCR'!


Comment: Please note this should be on a log chart but for clarity purposes I used the standard chart.
Wow, nice spike! Touched early 120 and stopped by on 80.. There is some potential here for sure ;)
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Given recent pullbacks in the over all market, do you see DCR as a good buy @ close to $83 like it is currently or where would you advise a good entry point is now? If given a choice between ADA and DCR, which would you add to a portfolio if you owned neither? Really like your insights, and have learned a ton from them, thanks!
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I'm a huge advocate of Decred, been playing with since june(~30$), the governance system is what sold it for me, as far as I am aware it is the only cryptocurrency to have successfully had a hard fork after an on chain, decentralized vote. (I saw the post a couple days ago but had to run, came back for any updates today)
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Not even trading on Binance... How could it be on coinbase anytime soon?
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goldbug1 ChaseDavis
@ChaseDavis, those guidelines are pretty loose, you could say almost every coin doesn't meet one. it is traded on polinex and bittrex which are major exchanges. I'm not sure I count it out. But your point is valid.
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Thanks for posting this but as a newbie I’m confused. This chart is dcrusd but trading dcrusd is downward trend.
So is this only a dcrusd BUY or is there something basic I’m missing???? Thanks
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Tvgmc Tvgmc
@Tvgmc, I meant dcrbtc is downward trend
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@Tvgmc, I only care what a coin is moving compared to the USD even if I can only buy it in BTC. I mean you could look at just about 90% of the alts out there and they are down to BTC, so it is not a fair comparison. If I buy at $2000 and it's trading at 0.100btc and bitcoin goes up 100% and the coin I bought goes up 50% o $3000 compared to BTC it would look in a down trend DCR/BTC but its up to USD.

I measure profits in USD. If your measuring profits in BTC then there are few coins that outperformed BTC over the past 3 months
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Prefer ADA over them
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@Quin73, I own both!
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