No doubt about it, the altcoin space is evolving quickly both in terms of maturity and size. It seems as though the good ole days of daily pump and dumps and premined vaporware coins have transitioned into a more legitimate phase as many dev teams realize that they must actually do some innovative work to keep their precious coins from becoming worthless. Given the number of coins that now exist, how the liquidity flows within the altcoin complex, and how fast things change from day to day, we think it is best to take a more casual approach to this sector at this time.
What does this mean? It means that the Crypto BullBear will be migrating from a weekly report to our blog, which will provide us with much more flexibility when it comes to issuing correspondence. This will also allow us to post so-called “quick hits” like the ones we posted a few weeks back, that are based purely on our cursory examination of the technicals of a given coin in the near term. These should not be considered endorsements or recommendations of any particular coin or development team, they are simply an acknowledgement that a particular chart could present a profit opportunity at some point in the not too distant future.
The main thing to keep in mind when getting involved with low liquidity altcoins, much like venture (aka “penny”) stocks, is that it is nearly impossible to tell whether they will go to zero or not, and if they don’t, when they will breakout to higher levels. Therefore, just know that these are essentially gambles that should only put a very small fraction of your working capital at risk at any given time. With proper risk management practices, and strict adherence to those practices, altcoins trading can be fun, informative, and profitable.
So, with all that said, lets kick this thing off with a list of what we think are the most attractive coins in terms of charts/technicals that we have come across over the past few weeks. All of these represent value plays in our opinion, meaning that they look like they have, or are in the process of, bottoming after the completion of a typical altcoin bubble cycle. We will be focusing our attention on these coins for the time being, so expect more coverage of at least a few of them in the coming days….!
Weekly Watchlist:
- Monero (XMR)
- IOCoin (IOC)
- BitMark (BTM)
- XCurrency (XC)
- VeriCoin (VRC)
-NeosCoin (NEOS)
You can find most of these are traded on both Bittrex and Poloniex exchanges, although you will find that liquidity differs on each coin depending on the exchange. We always recommend using the exchange that can provide the most liquidity for a given coin.
Cheers,
@AKWAnalytics
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Disclaimer: Please always do your own due diligence, and consult your financial advisor. Author owns and trades bitcoins and other financial markets mentioned in this communication. We never provide actual trading recommendations. Trading remains at your own risk. Never invest unless you can afford to lose your entire investment. Please read our full terms of service and disclaimer at terms-conditions-disclaimer/.