Ready to be pushed by Bitfinex whales? Eidoo!
Updated
Last week has been bad, but, the circumstances is perfect for a Finex run.
I am betting on Eidoo, and looking for 10-20x!!
Fundamental
On January 11 I told my trade group (Koinworld) about Eidoo (EDO). We got in at the fib line and saw a good push, sadly, the market brought it back down and we are back to where we started.
Aventus had to go, and I replaced my portfolio with Eidoo. (A finex coin for a finex coin) (My-Portfolio)
So what makes Eidoo a good buy?
For one, Bitfinex has finally opened up their registration process. New money should enter the exchange.
The problem is that they only opened up for people with 10k worth of FIAT or Crypto. That's not a crazy amount, but it definietely excludes a lot of the fishes. Which lowers my target expectations a bit.
Eidoo is on Binance as well, so considering the marketcap (115M), it's looking very good on the exchange front.
Quote's from Eidoo website:
"We want to make only one application, extremely easy to use, and bring the crypto world to the end user; a bridge towards worlds that at this time, as a user experience, are not so close to one another."
That's the basic vision of the Eidoo team. They are not looking for some technical breakthrough.
They want to create the killer application that can unite mainstream users and the technology that crypto brings to the world.
"Facing an ever dynamic world, both in technology and application user-friendliness, no good solutions that exist can last forever."
When it comes to crypto and general technology you have to be open for change, and you have to be on top of it all the time. Always evolve.
If we have a look at Eidoo's roadmap we can see some promising stuff for this quarter, making this a very solid time to invest.
First off we have the Bitcoin Wallet, and then there's the hybrid exchange as well! Check roadmap. Some pump-worthy releases.
Recently Eidoo put out their ICO engine.
Where ETHLend did their funding (right now they are twice as big in marketcap), and we have Ubiatar launching very soon as well.
What's really cool about this is that Eidoo destroys 50% of its income, making the supply lower and Eidoo investment more attractive.
On Dec.14, Eidoo released the blog post, announcing the burn of 500k Eidoo! That's only from ETHLend ICO, Aidcoin Pre-Sale and a few private sales.
Very impressive. If Eidoo keeps getting ICO's on their platform and attracts a larger userbase, we could see some serious supply being taken away from the market. This will automatically make the price go up over time.
Making a long story short. Eidoo could very well be one of the next big pumps. I'm taking this short/medium term bet.
Technical
The FIB I am focusing on here is the run from 7 December to 9 January. We can see the 4.618 goes to 25 USD, which would be about a 10x from Eidoo's sideways action at the bottom.
When it comes to crypto, 10-20x is the normal range from bottom to top on a pump.
I always like to be conservative when picking targets, so I am looking at the lower end.
Buy on trendline, and look out for heavy resistance at 10 USD.
I am betting on Eidoo, and looking for 10-20x!!
Fundamental
On January 11 I told my trade group (Koinworld) about Eidoo (EDO). We got in at the fib line and saw a good push, sadly, the market brought it back down and we are back to where we started.
Aventus had to go, and I replaced my portfolio with Eidoo. (A finex coin for a finex coin) (My-Portfolio)
So what makes Eidoo a good buy?
For one, Bitfinex has finally opened up their registration process. New money should enter the exchange.
The problem is that they only opened up for people with 10k worth of FIAT or Crypto. That's not a crazy amount, but it definietely excludes a lot of the fishes. Which lowers my target expectations a bit.
Eidoo is on Binance as well, so considering the marketcap (115M), it's looking very good on the exchange front.
Quote's from Eidoo website:
"We want to make only one application, extremely easy to use, and bring the crypto world to the end user; a bridge towards worlds that at this time, as a user experience, are not so close to one another."
That's the basic vision of the Eidoo team. They are not looking for some technical breakthrough.
They want to create the killer application that can unite mainstream users and the technology that crypto brings to the world.
"Facing an ever dynamic world, both in technology and application user-friendliness, no good solutions that exist can last forever."
When it comes to crypto and general technology you have to be open for change, and you have to be on top of it all the time. Always evolve.
If we have a look at Eidoo's roadmap we can see some promising stuff for this quarter, making this a very solid time to invest.
First off we have the Bitcoin Wallet, and then there's the hybrid exchange as well! Check roadmap. Some pump-worthy releases.
Recently Eidoo put out their ICO engine.
Where ETHLend did their funding (right now they are twice as big in marketcap), and we have Ubiatar launching very soon as well.
What's really cool about this is that Eidoo destroys 50% of its income, making the supply lower and Eidoo investment more attractive.
On Dec.14, Eidoo released the blog post, announcing the burn of 500k Eidoo! That's only from ETHLend ICO, Aidcoin Pre-Sale and a few private sales.
Very impressive. If Eidoo keeps getting ICO's on their platform and attracts a larger userbase, we could see some serious supply being taken away from the market. This will automatically make the price go up over time.
Making a long story short. Eidoo could very well be one of the next big pumps. I'm taking this short/medium term bet.
Technical
The FIB I am focusing on here is the run from 7 December to 9 January. We can see the 4.618 goes to 25 USD, which would be about a 10x from Eidoo's sideways action at the bottom.
When it comes to crypto, 10-20x is the normal range from bottom to top on a pump.
I always like to be conservative when picking targets, so I am looking at the lower end.
Buy on trendline, and look out for heavy resistance at 10 USD.
Note
Oh, that was some bad timing!Blood in the streets today.
Let's find the support.
Note
Eidoo has been my worst performing trade idea yet.. Idea right before crash.So apologies if you bought on my idea.
However, I have also been telling everybody to just hold on and wait for a better price to sell. We got that today, and perhaps we can break even on this trade :)
Which would be incredible considering it was down 50%!!
Trade closed: target reached
Got out of EDO. Down 8%. Not bad, minimize the losses, maximise the wins :)
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.