Last week my patience ran out of existences and finally decided to 'dump' my intention about getting a Crypto.com card. And ordered a Swipe one!
My card delivery got delayed for a few (boring!) reasons which I'm not in mood to talk about...
Plus Crypto.com annoyed me quite a bit with the almost 'scam-ish' MCO>CRO swap since I would never buy such overpriced coin and the only thing that I liked about MCO was their low supply of ~15M (and obviously the card perks).
Long story short, got very tired of CDC, purchased some SXP and ordered a Swipe card.
And knowing that I'll be a 'long-term holder' of SXP (my lockup period ends in May), what a better time than now to make a bit of charting. (I bought at ~1$/SXP so I'm a bit down in this position).
At first sight, we can see that SXP experienced a monstrous bull run which started in early July being valued at roughly 0,5$ which ended ~45 days later when SXP reached their top at +4,5$/SXP.
Has been correcting ever since with 2 clear phases of the bull trend:
'Bull trap-FOMO phase' where late buyers were FOMO'ing being victims of their greedyness.
'Taking profits-downtrend phase' which clearly we can define with a diagonal trendline.
My position:
At the end of the downtrend line, we can see the typical breakout happening. This is where we 'should' wait for a retest of the previous downtrend as reversal confirmation. It still has room to keep falling.
This obviously changes from trader to trader. In my case, I prefer to be a bit early rather than late, and not always wait for a confirmation to enter a trade (this obviously have advantages and disadvantages).
I entered at this daily candle, a couple of days after the breakout from the diagonal trendline. (You can see the red circle in all the above images btw).
What I said about MACD?
If you're used to reading posts of mine, maybe you remember this post from a while ago where I explain why I like to trade setups taking in consideration the MACD indicator.
This case isn't an exception.
3D MACD timeframe benefiting my long setup? Yes, please.
Anyway it will be a long hold and I pretend to take maximum profit of my cashback rewards, so I won't be selling at least until half a year later.
I'll keep you updated on this one. As always, DYOR before purchasing a coin for fundamental reasons and watch out. Crypto is the wild west.
Have a great weekend!
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Swipe popped up in my binance wallet. I don't remember buying it or ever trading it. Probably an airdrop thingy.
Seeing this post might be a sign to buy a few for the long term too.
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SXP was distributed to BNB holders in a multi-week plan. Probably that's the reason :)
Swipe is now owned by binance, so makes sense from their standpoint to empower the usage of their own products.
Cheers belemo!
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Ohhh thanks mate
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Where can you use the Swipe card and what cryptos can you store?
By the way, what do you think of REQ?
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Lol, everywhere they accept a VISA!
You can store a good number of coins, but IMHO the main usecase is to 'make easy' spend crypto.
Plus. Cashbacks are in BTC.
REQ or REKT? Nah, seriously. No idea and no opinion about this project yet.
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From what I know crypto.com was not supported in Romania, or they weren't delivering it, and that's why I asked.
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oh, no idea frankly.
As I can see, swipe is accepted in Romania.
https://swipe.zendesk.com/hc/en-us/articles/360002631657-In-which-countries-can-I-order-a-Swipe-Card-#:~:text=Austria%2C%20Belgium%2C%20Bulgaria%2C%20Croatia,Sweden%20and%20the%20United%20Kingdom.
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Nice. I might get one for Christmas and it will for sure come at hand to hold some USDT on it and spend around. Will bookmark that link so I can get more info about it and how can I order it.
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What's the difference between the crypto.com card and the swipe one? I was thinking maybe getting a swipe one is easier. I've stopped using Crypto.com by the way, they're always pushing or tempting users to buy those overpriced coins in other to get some free money.
As for SXP the run was really monstrous like you mentioned but then what were the late buyers really expecting? Lol greed can be really misleading hahaha
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IMO crypto.com card is 'slightly' worse.
More lockup required for the same features,
cashbacks in their coin (rather than BTC, which is the case for swipe).
I think crypto.com abused a bit their users because they were the first ones in their niche, now others like celsius, nexo and ofc swipe are cannibalizing CRO.
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How I wish I can learn all these terms and somehow be good in these trading technical languages used
it's never late to get started. leofinance is a great place to learn about the mater though.
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That's a great idea to consider
I hope it helps my journey to learn it more
Great analysis and I am also looking at a crypto card. I see one available on Binance and wanted to ask if you maybe now what is the difference with Swipe and which brings more benefits.
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Swipe is owned by binance and the cards will be integrated into the binance interface soon or later (no rush I guess).
The features are slightly different, why not both? (both have free versions which can be upgraded later).
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