Here we go again! Another roller coaster ride on the Potcoin market at Poloniex:
Remember, you can wade in easy as to test the waters when it comes to trading crypto currency. Just don't wade into a moving roller coaster as seen here.
Here's the 6 hour Poloniex chart:
What am I going to do about it? Not trade it that's for certain. In the next 2-3 days the Potcoin market will pull back possibly establishing a new, higher support level as it did after the last pump I posted about. By Saturday or Sunday I'll revisit the charts to see if at least 3 almost matching support levels have been set before dating this coin again.
Just my 2 cents. Please trade at your own risk and never use money you can't afford to lose in crypto currency.
Have a great rest of the week, @bluehorseshoe
Update: Illustration of answer I gave to @fullertronic's question:
POT loves it pumps, I've been lucky to catch one in the past but I've missed the last couple. What's the secret? How do you spot them?
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I can't predict their very beginning but by being lucky enough to pop in the right day and the right time of day I can spot them on the way up by the sudden surge of sustained then 1 or two green surges(blips of green higher) of buy volume uncharacteristic with a normal trading day. I'm a drive by trader meaning never sitting for more than 10-15mins to process some trades and sometimes missing complete days all together since it really is just a hobby for me. As a result, I miss many plays I could have spotted, oh well. This time I was only trade 200 at a time just to test the waters in Potcoin as I'm a long term investor already and just started round tripping it for the past couple of months since it's previous pump.
Thank you for posting and your question.
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Thanks for your answer, I can see the small spikes in volume, makes sense.
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My pleasure.
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I'm going to add a picture from the October chart at the bottom of this post to better illustrate my answer.
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Here was my first pump in progress post from 2 months ago if you're interested along with my 3 week followup post:
https://steemit.com/beyondbitcoin/@bluehorseshoe/the-potcoin-roller-coaster-ride-is-almost-over-wow-that-was-fun
https://steemit.com/potcoin/@bluehorseshoe/potcoin-technical-analysis-from-3-weeks-ago-a-pump-and-dump-chart-prediction
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Lol. I remember Potcoin. Used to have quite a lot back in the day. Not sure if anyone actually bought any pot with it though. Yes these pumps are normally traps.
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Yes, it's lure for rich list holders is mostly the name. Not much behind the curtain. If it was called something like AcmeCoin it would have died along time ago.
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