The correct way to play altcoins at this stage
According to TokenData data, combined with factors such as the project's Twitter, Github, community activity, and weekly reports, it summarizes the current status of the top 50 projects in the history of blockchain financing as of June 30, 2019. According to statistics, 19 of these 50 star projects are currently delayed, 5 have stagnated, and some projects have failed, the team has been disbanded, and they have even been accused. Only 17 of them have basically normal progress, accounting for only 34%. .
In the currency circle, the financing amount can be ranked in the top 50, a well-established popular project, marketing and publicity are very good, and it has a large number of die-hard fans. But even these king-level and epic-level projects cannot escape the power of the trend. Under the current market conditions, the situation is bleak, not to mention other countless altcoin projects. The currency price trend is similar to the figure below. After a short-term high position, it vented to the end, which made people desperate.
If 2017 is the year of the profit-making effect of altcoins, then this year, altcoins have become a role that no one cares about. Realistic fantasies are bound to be slapped in the face by reality. The focus of current transactions should be placed on BTC and some mainstream currencies, but for altcoins, we still need to pay attention to some methods and strategies.
First of all, don't stud. Stud is a big taboo in a bear market, because you can't determine the currency of your Stud, it must be a currency that has the potential to rise in value, rather than being tempted by all kinds of advocacy and temptation. In the face of an uncertain trading market, the safety of principal is absolutely the first priority. It is not wisdom but foolishness to put all your chips on the table from the very beginning.
Second, don't open positions on the left side. When the currency price is in a downward trend, don’t rush to open a position, but wait for a better opportunity to enter the market after the currency price has fallen to the bottom and build a stable bottom, that is, to open a position on the right side. Generally speaking, the fluctuating trend of the currency price with a small range and a slow decline is an operational trap for investors. Once bought, the profit is very small, and it is easy to change from a quilt cover to a deep set. All kinds of IEO currencies are excellent case references. The picture below is the IEO currency BLOC of the OKEx exchange. It has been more than 4 months, and the more you buy, the more you are trapped. The investors who opened positions on the left are all buried.
Again, don't have any illusions about altcoins. The so-called fantasy is used to be broken by reality. The time for disillusionment in other aspects may be relatively long, but in the financial market and in the currency circle, the time will be very short. It is a good thing to have faith, and it can make you happy, but if you are deceived and bewitched to have faith in a certain altcoin, it is better to get rid of it as soon as possible.
Then, the strategy of altcoins must be short-term, at most short-term and medium-term, and you must not have long-term ideas. To play altcoins, there is only one strategy: buy low and sell high in the short term. There is nothing wrong with the idea of using a small amount of positions to gain big profits, but it must be pocket money, and if you make money, you must run away, learn to escape the top, and don't foolishly die. The picture below is the daily K-line chart of the Beam anonymous currency. There are 3 relative bottoms. Buying in this range and then selling at a high point can make a profit with a high probability. But this is a test of personal K-line technical level and ability to analyze the disk, otherwise it is easy to miss the opportunity.
Operation suggestion:
Operation suggestion:
BTC: Bitcoin broke through 12,000 US dollars in heavy volume yesterday, but then it was suppressed by the air force, and the "gate" trend reappeared. It is currently in a state of retracement after a short-term rush. 11370 US dollars), strong support MA120 moving average (11120 US dollars). It is expected that after the correction, there is a high probability that it will continue to rise, and the upper pressure range will be between 12,000 and 13,000 US dollars
In the short term, this wave of upward trend has not ended, and the short-term retracement is relatively normal. The trend in the past few days was too strong and needs to be corrected to release the selling pressure. Therefore, it is still not recommended to be overly bearish. From the perspective of medium and long-term trends, the overall news in August is pre-cooled, and there is not much good news. The overall market is still in the mid-term adjustment stage, and it is prudent to operate.
ETH: It touched the pressure of 240 US dollars yesterday, but it was suppressed and released the volume of selling pressure. The short-term support of 220 US dollars follows the random movement of the pie.
LTC: The trend is weak, the pressure of 100-110 US dollars is still there, it is difficult to break through in a short period of time, and it is facing some selling pressure, so it is not recommended to operate.
BCH: Following the volatile trend of the big pie, the short-term support is 330 US dollars, and the upper pressure is 350 US dollars. The volume is relatively weak, and there is no short-term market.
EOS: The volatility is large, the retracement is serious, the short-term support is 4 US dollars, the pressure is 4.4-4.5 US dollars, wait and see.
XRP and TRX: Range fluctuations, volume and range are relatively weak, short-term operation is not recommended.
Platform currency: BNB continued to sort out at a high level, and today there was a KYC information leakage problem, which caused certain pressure on the market; HT faced a support of 5 US dollars, and it is expected to continue to rise after it stands firm; OKB continued to exert strength, and the upper pressure was 4 US dollars, but from daily The volume at the line level can be seen, but the volume can be weak, so we need to pay attention to the risk of retracement. GT continues to face the pressure of US$1. In the short term, unless there are positive factors in the news, the market will continue to consolidate its trend.
The overall performance of other altcoins is mediocre. When the big pie retreats, the decline is serious. The overall market is not stable, lacking good support and receiving strength, and funds entering the market are limited, so enter with caution. In addition, if you have any currency you want to analyze, welcome to ask questions in the message area.
