Getting ready for the Bottom

Before we start, lets make it clear that I am not a signal or Investment advisor, and I am not qualified to do so. This is my opinion only, and do your own research before investing into the Crypto markets. Of course only invest what you can afford to lose.

Now, I know little about Crypto. My focus & success previously is generally around how established, accessible and reactive specific coin markets are. Its common sense really, as is everything in PardoFX.

Bitcoin. Is it at the bottom? Not yet. Is it near the bottom? I believe so. And with the bottom comes the turn in all Crypto markets. Even the best coins cannot gain in the current climate as the dependency on Bitcoin continues. What are the indicators of a reversal? Well look at my previous Bitcoin posts.

Capitulation has well and truly set in amongst emotional Crypto Traders, which is the single largest Bullish indicator for a reversal. Since the collapse of the support at $5800, the selling has been crazy. If you believe in the technology and value long term of this technology then you will have no qualms about getting back into the markets at a level that is suitably low that the risk is minimal. My aim is at $3000. When this is met I will look at investing into coins that I believe will give me the best chance of making good profits. $3000 is key because not only is it a significant level of support but it is also very important when it comes to mining BTC, it is generally accepted that it will no longer be profitable to mine Bitcoin below this area. And with that in mind there should be alot of support in the industry for keeping this level intact.

Accumulation will ideally begin here, if we see some high volume transactions take place or we use candlestick identification to establish a ground of manipulation we can look to enter. Even if we get in at 3k without that, I believe it could be a calculated risk that long term could leave you much, much better off, even after some initial portfolio loss. Lets not forget all the poor souls that invested at 6k, 10k, and even 20k. 3k gives us a minimal risk margin. The main risk will become the coins themselves, so to minimise that my main interest will be in the coins below.

Coinbase, love it or hate it, is the easiest, most accessible and best known Cryptocurrency Exchange for beginners. So it would make sense to invest in coins available to trade here. Now if you’re in the UK, you dont have access to buy/sell some of these Alt-coins outright with FIAT, but our American friends do. However we are available to trade them on the PRO version. Within Coinbase there are 3 coins outside the top 10 which could erupt when Volume enters the markets. Ethereum Classic (ETC), Basic Attention Token (BAT), and 0x (ZRX) which are currently trading at well below the prices that were available even before they were added to the Coinbase platform. We know they are established, because otherwise they wouldnt be on Coinbase, but do your research. I recommend Coincheckup for a quick glance and you will see that these coins are all highly rated. In fact ETC and 0x are among the most highly rated coins on there. My focus will be on these as I think they are extremely undervalued, and should rise substantially with any bullish traction in the markets. The main basis for investment is common sense, what did I do when I started in Crypto? I went on Coinbase and bought anything that was available. Im looking for others to do the same. Already holding a Bulk of LTC and ETH, and with no interest in Bitcoin or Bitcoin Cash, I think the value is in the hidden gems here. If you dont have a Coinbase account, click HERE to get one.

Continuing on on this path of Exchange Volume, im also looking at up and coming Exchange platforms, and coins offered there. Kucoin (KCS) but also Binance (BNB). Although Binance is already very well established of course. Kucoin is the pick of the exchanges here. Common sense dictates that with volume in the exchanges comes volume within that exchanges asset. KCS is available for $0.5 after an All Time High of $17, plus it will also reward you in commission and by paying less trading fee’s. I do believe Kucoin will become the next big exchange when the next run happens, the assets available to trade are fairly extensive and the platform itself is easy to navigate. The basis is, with exchange volume, comes exchange value. I expect Kucoin to do very well in this regards so my 4th and 5th targets are KCS and BNB but primarily KCS. You can sign-up for a Kucoin account HERE, or/and a Binance account HERE.

Other coins that I believe are dirt cheap and fantastic prospects long term are Stellar Lumens (XLM) and Electroneum (ETN). Stellar is already a top 10 coin, and I firmly believe ETN will be within the next 6 – 12 months. Im not going to go into detail on why I am targeting these coins other than dirt cheap prices, as I don’t need too, check the projects out yourselves.

Therefore in conclusion I will be looking to gain substantial amounts of BAT, ZRX, ETC, ETN, XLM, KCS & BNB when the bottom hits. Because to me thats common sense based on probable Volume plus two projects that I believe are very much worth investing in. Of course everyone disagree’s on this stuff, and I dont provide signals. This is just what I will be focusing on.

Pardo.

Author: PardoFX

Forex on Trend Swing Trader, using common sense trading principles to become financially free. And taking people on the journey.

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