With Augur, the fundamentals are there, which is the first step in deciding if a token is worth accumulating a position in.
(I'm writing this piece, part of the HODL posts, because many lose sight of investing when checking out cryptocurrencies. Many tend to go where the action is - EOS for a recent example. EOS was great for making quick money, but you can also get burned quick. For those that look to invest, follow the HODL series, not the quick picks.)
Second step is entry. Looking at the chart here we see Augur is consolidating. In fact, Augur's chart is less volatile than most. We don't see the typical bubble chart - pump, distribution, blowoff, markdown, accumulation. In fact, Augur is following eth/btc pretty closely (on btc and usd pairings).
The magenta box is drawn to help show the general trend of price in that area. Price tends to oscillate here and use this area as support or resistance. When price enters from above we tend to test this area as support and steam roll through. Same goes when price approaches this area from below. We are currently dropping in from above, so history would say, we are headed down. The TINY spike seen on the couple days leading up to its platform release is a sign for me as well. We typically expect very high before such an anticipated event. General market sentiment is also . So why mention Augur in the first place??
Price has dipped down to the 0.236 fib level of the previous high/low each time, which places us around 0.0043 this time around. Many believe BTC's sentiment might change any week and I'm not sure I completely agree yet. Once we get closer to August 10th's (which will most likely be crickets) decision for an approval (or eventual postponement of a SEC comment), we will see if the bull run is upon us. Regardless, the chart reads price might track up after the tiny dip here. supports this since we are starting to form a horizontal top . An upward breakout on would be here.
Keep REP on your sights and watch for movement around 0.0043. Things to look out for are and movement upwards. Regardless, placing some buys just below 0.0043 would be wise for a long-term move.
Hope you enjoyed this first installment in the HODL series. Other HODL like calls that I've discussed outside of the top 5 previously are NEO, ICX, IOTA, XLM .
Have a great week!