Peercoin RSI Divergence Trade
We're looking for a hard bounce in this long trade. Market cap is 35 million, circulating supply is 24.3 million. Peercoin price has been continually punished but the market recently was aggressively oversold, I'm looking at this as a long-term reversal opportunity. Volume today is a half million dollars, which is pretty thin, and this might also suggest a reversal as selling force evaporates and the buyers take over. The coin is flirting with it's all time lows from 2014, if you believe that the project is going to survive, these are attractive prices to buy and hold, for a few weeks or a few years. I like to buy assets that I feel will be profitable across multiple timeframes, that way if I miss a market event or things don't go exactly as planned, I've still got a margin of safety that guarantees the preservation of principal and that will allow me to hold it forever and know that I'll make money.
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