I was lucky an got rid of all alts and BTC just before the big dump and now reentered Verge at 217. I was deciding between Key and Verge and it looks like Verge is the right choice. You can tell how Verge is pushing its way up and its about to burst.
bsdvs23
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@EgotripCz, Good deal. Chart has been on downward spiral since May with several 'dead cat' bounces along the way. The fact that we're holding this trend line, 0.0...217 has been holding support and volume is above average is potentially signalling an accumulation phase; especially since the August 14th turn-around bounce. I have friends whom been buying verge all the way from top to the bottom trying to catch the falling knife - as you can imagine calling it a scam now because their holding very heavy bags. Just follow the money, price, and volume - we'll see if something gives...
Longer term, the weekly isn't looking too bad of shape these days either. Like to see the weekly break and hold above the 0.0...267
2-hr is also bouncing off major support levels and planting a very strong hammer candle yesterday evening - currently holding steady.
bsdvs23
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Enormous volume on the current 2-hr candle.
EgotripCz
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@bsdvs23, Tell me about trying to catch the falling knife. I was one of the lucky ones, who bought Selfkey before the insane pump. Believe or not, I went from 250 to 777 sats, watching it live and didn´t sell anything. Like a stupid was buying more at 400. It went again to 600 and I didn´t lock any profit Then got kicked out by stop loss at 250 and bought again at 290. To make long story short, After selling all the rest I ended up with only 30% loss, which I think is still OK compare to those, that hold the bags around 400-500 sats. I got some of the Key again today for 87 sats. The volume after listing was really extreme - 4th biggest of all alts in 24h. I think The Key is gonna show up in the future too.. All alts are in the dead zone at the moment, waiting for BTC move. This will be very interesting in the next days.
EgotripCz
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@EgotripCz, correction: bought again at 190 sats, not 290..
bsdvs23
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@EgotripCz, It's always tempting to buy when the market is moving in your direction (emotions take over); however, that begins to increase your risk portfolio by averaging up the costs of purchase overall. Of course, you know that, as you described. I have not viewed the KEYBTC until just now. Many of these charts are following the same run-up and fade patterns - not just the alts, but I get what you're saying.
As for KEYBTC, 0.0...92 resistance is holding strong again (price is back in a sideways channel). Based on the chart, I'll add it to my watchlist, but not trading right now.
Support has turned against the price - I'd be looking for a potential retest to the 0.0...80 and if that doesn't hold 0.0...73 support.
As for the upside. I'd like to see price turn 0.0...92 into support (for starters), then we can reassess.
bsdvs23
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@EgotripCz Keep your head up! Take these as lessons learned and build them into your trading plan, which you should have written down and follow as a strict guideline. It happens to the best of us.
EgotripCz
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@bsdvs23, Thnx for your opinions and advices. I trade stocks for some years - only smal Prague stock market - but there is always some real fundament behind the stocks. Crypto only few months. But with crypto you learn the lessons really fast. And you are right. I got lucky that I had the chance to experience the pump and the feeling, when all the profit disapears in front of your eyes and you do nothing - just watch. Maybe thats why I decided this time to get rid of all alts and lock BTC in USDT at 6920. In less than 30 minutes after I did it, BTC dropped to 6300. I got back in at 6400 and bought back Verge, Pundi X and today also the Key. Even though Im still in red numbers, I was able to nicely accumulate. Just before the big drop, I made a call here in Trading view .. .. Besides Verge and Key, I like also Pundi X. I got in before end of august to get the 7,316% airdop and the price finaly holds. They changed the rules though. You have to hold the whole month, otherwise you get the % only for the days, when you hold. It looks like one of the safer investments among all crypto. Maybe it wont go to the moon, but you have always the drop to cover some losses :-).. Good luck to you.
bsdvs23
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@EgotripCz There's that break I was referring to in my last post. I expect more downside to the 0.0...79 / 0.0...73 level at a minimum. If those levels do not hold expect all time lows for KEYBTC.
EgotripCz
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@bsdvs23, I hope Key will hold above 80 sats this time. I loaded some more KEY at 83 sats, setting stop loss at 78 sats in case of another dump. BTC might drop some more, but I expect it to go up again above 6500 and it would pull up the Key above 90 sats. But there I woul be taking some profit for sure, since BTC will go down again .