I want to highlight a relatively new coin in this Idea: FUNFAIR.
As the chart suggests Funfair has not seen a lot of market action yet. So why would I talk about it?
Well, two reasons:
1) FUN is moving in a nice channel, respecting the upper and lower boundary (with one exception that got cleared the following day), and is currently approaching the lower boundary again.
2) The dev-team announced that in the coming weeks there will be a rebranding, a massive token burn and other news and announcements to come.
Number one would probably set us up for a nice short term trade, if the lower boundary is respected again. Number two may set us up for a massive pump.
I will enter this market with a risk adjusted stack if the lower boundary holds again. From then on I will see how things turn out, if the boundary breaks, I will adjust my entry point to a later position.
Looking at the dev announcements, the regular social media mentions of the coin and the price action, I think this could be a good opportunity to strike a massive profit.
Be aware, that if you take inspiration to do the same, the key factor you need in this is patience and discipline.
This coin may as well go lower than the boundary and the hold time at the current time is unpredictable, so adjust your actions according to the risk.
As the chart suggests Funfair has not seen a lot of market action yet. So why would I talk about it?
Well, two reasons:
1) FUN is moving in a nice channel, respecting the upper and lower boundary (with one exception that got cleared the following day), and is currently approaching the lower boundary again.
2) The dev-team announced that in the coming weeks there will be a rebranding, a massive token burn and other news and announcements to come.
Number one would probably set us up for a nice short term trade, if the lower boundary is respected again. Number two may set us up for a massive pump.
I will enter this market with a risk adjusted stack if the lower boundary holds again. From then on I will see how things turn out, if the boundary breaks, I will adjust my entry point to a later position.
Looking at the dev announcements, the regular social media mentions of the coin and the price action, I think this could be a good opportunity to strike a massive profit.
Be aware, that if you take inspiration to do the same, the key factor you need in this is patience and discipline.
This coin may as well go lower than the boundary and the hold time at the current time is unpredictable, so adjust your actions according to the risk.
Comment:
As Bitcoin keeps bullying the precious altcoin market, be advised to take all trades with caution. Until the hardfork of bitcoin and bitcoin-gold, the markets will be a tough field, but allow a lot of great buying opportunities.
Trade active:
Entered market at 425 sats today.
The hinted coin burn is supposed to happen this October, as it has not yet been officially announced how much tokens they will burn, this is a good chance to enter the market below the radar.
The hinted coin burn is supposed to happen this October, as it has not yet been officially announced how much tokens they will burn, this is a good chance to enter the market below the radar.
Trade closed: target reached:
Delayed Update: I closed the trade at @650 sats and exited the market.
