What do you think about my trade in BTS/BTC? The first blue arrow is around 2.000$ and the second green is 500$. I am hoping for a rebound to the base(yellow line). Would it be wise to invest more or wait ?
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as others have mentioned, i would look out at the bigger timeframe (2months) and you will not likely consider that yellow line to be a great base, but its not that bad.. you might be safe still .. i took this trade also, at .00005s and expected a timely bounce.. but now after a day has past and it seems to be weakning, without any real attempt at bounce, I decided to sell for 4% profit at .000052 .. thats like a break even trade for me.. and mainly im selling because it has not always respected the panics.,.. on 07/06 for instance, if you look back in the chart.. however with all that being said, your likely still safe, because it is still a very high odds trade you took, and the base is not that strong, but its not too bad.. and the chart is not perfect, but its pretty close
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Thanks for taking the time to reply! I appreciate the info
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That's a strong base that was cracked, but before entering the trade it's best to look at a 1-2 month view of the past to see if bounces back to the base are common with this BTS/BTC pair...good luck!
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+1 to @lingtriloquist, but I also want to add that you should have sold around 5330 if you bought around 5000 (NOTE: hours after I posted this I realized you bought at around 5220, this doesn't look like it will end well I'm afraid - we may never see a big enough bounce to be profitable) . The previous bounces were typically for under 7% prior to the crack, the 2 month + chart would show you that this is the case. This is a good chart to trade, but you should expect a relatively modest ROI if your trading off the base at 6040 - this is not a trade I would have taken, I would have waited for a better situation. You don't need to take every trade, wait for the more profitable situations. To illustrate my point, take a look at EOS/ETH - a killer chart at first glance, but the predicted ROI is too small to trade this chart over the past month.
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I also invested in this pair....waiting for the rebound or maybe even higher in August. I have couple of sale orders above the cracked base. Good Luck!
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I have the same situation and question, but I decided to sell. The main reason is that if you look at 2m chart I am not that sure anymore if this is the base or is it at 4700?
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I personally think the only real base was at the 4500-4700 range.
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