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'!
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.