What do you think about my trade in BTS/BTC? The first blue arrow is around 2.000$ and the second green is 500$. I am hoping for a rebound to the base(yellow line). Would it be wise to invest more or wait ?
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as others have mentioned, i would look out at the bigger timeframe (2months) and you will not likely consider that yellow line to be a great base, but its not that bad.. you might be safe still .. i took this trade also, at .00005s and expected a timely bounce.. but now after a day has past and it seems to be weakning, without any real attempt at bounce, I decided to sell for 4% profit at .000052 .. thats like a break even trade for me.. and mainly im selling because it has not always respected the panics.,.. on 07/06 for instance, if you look back in the chart.. however with all that being said, your likely still safe, because it is still a very high odds trade you took, and the base is not that strong, but its not too bad.. and the chart is not perfect, but its pretty close
Thanks for taking the time to reply! I appreciate the info
That's a strong base that was cracked, but before entering the trade it's best to look at a 1-2 month view of the past to see if bounces back to the base are common with this BTS/BTC pair...good luck!
+1 to @lingtriloquist, but I also want to add that you should have sold around 5330 if you bought around 5000 (NOTE: hours after I posted this I realized you bought at around 5220, this doesn't look like it will end well I'm afraid - we may never see a big enough bounce to be profitable) . The previous bounces were typically for under 7% prior to the crack, the 2 month + chart would show you that this is the case. This is a good chart to trade, but you should expect a relatively modest ROI if your trading off the base at 6040 - this is not a trade I would have taken, I would have waited for a better situation. You don't need to take every trade, wait for the more profitable situations. To illustrate my point, take a look at EOS/ETH - a killer chart at first glance, but the predicted ROI is too small to trade this chart over the past month.
I also invested in this pair....waiting for the rebound or maybe even higher in August. I have couple of sale orders above the cracked base. Good Luck!
I have the same situation and question, but I decided to sell. The main reason is that if you look at 2m chart I am not that sure anymore if this is the base or is it at 4700?
I personally think the only real base was at the 4500-4700 range.