Get started

DOGEBTC

Another good way to kill your deposit (3 part)We have already told you why you should not trade based on news about the asset and proved that the short-term trading style only seems profitable at first sight. Well, let's move on to part three of this series and discuss why not every 'hold' position in cryptocurrencies can be called an investment. You may have already heard in our previous posts or live streams that you should not rely on Altcoins fundamentals. The market capitalization of some Altcoins is so small that it makes analysis of the fundamentals of this asset meaningless. Other coins don't allow you to view their fundamental data. You can't always analyze the number of active wallets, transactions, the amount of stacking, etc. This tells us only that long-term investing in such assets is a real lottery. If you did not have enough information about an asset at the time you decided to invest in it, it means that the next time you will find in your account x10 or an amount close to zero. At best, the amount will not change. If you are good at technical analysis and can build a resistance level and even determine when that level becomes support level, then don't be too quick to apply that approach to all assets without exception. Even though the connection between Altcoin's growth and the patterns on the BTC chart is not always obvious, Altcoins are highly dependent on bitcoin. As practice shows, sometimes especially strong growth of Altcoins coincides with BTC consolidation. Strong BTC corrections of 10-20% could have happened at any time, this is an ordinary correction for Bitcoin. In that case, Altcoins could exceed this correction many times over which will break any expectations you have for the market situation and break your technical analysis patterns. That's why your trading decisions regarding low-cap Altcoins should take into account fundamental parameters if this asset allows you to do so. If you do want to try your luck and invest in Altcoins whose parameters you can't analyze, then the first advice we can give you is don't do this. The second piece of advice, if you don't take the first one, is to diversify your money in dozens or better several dozens of promising Altcoins. We hope that this series of educational posts and our stable profit figures have shown you why Pennygene prefers long-term investing and takes a conservative approach to trade.
Education
by pennygene
2
DOGEBTC 5X-10X CycleAs you can see by the chart, every few months or so, our DOGE decides to wake up, pop, and go back to sleep for 2-3X the length of the "pop". After every peak, it tends to slowly go down and fall around 15-20% less than where it started. You can use fib retracement on the higher high and lower low to see. I used fib timeframe to see if I could spot patterns and seems the lines align with the beginning of cycles, all 4 of them. It shows the next fib timeframe at January / February 2018. Stay on the lookout for this trade. Set alerts & get ready to buy a small bag of dogecoin.
Education
by JCBCrypto
4