SNGLS/BTC: Breaking Out of a Wedge Pattern
SUMMARY
First, SNGLS/BTC is a thinkly traded microcap. This is NOT to be seen as a huge position opportunity as it does not have the liquidity to support large holdings.
SNGLS/BTC can display erratic looking price wicks, as it common for small or microcap coins. But often, these are the ones where phenomenal profit opportunities reside. As BTC is correcting, SNGLS/BTC has been getting enough of a lift to breakout of the downward pointing symmetrical triangle. The blue waves show a tentative pathway. Regardless, should BTC take a faster and stronger trajectory towards $8k; the white circle represents a zone for the blue wave 2 correction. A lower low could be probable, pending sentiment strength into this correction. However, casting a small ladder for a position within the price range inside the white circle could be opportunistic.
Legal Disclaimer: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
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That problem was rectified quickly...
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I predicted this bitcoin drop 6 days ago: This is why Bitcoin dropped again: https://steemit.com/bitcoin/@investingtips/why-i-see-another-crash-for-bitcoin-and-the-general-crypto-market
Great post, have an upvote! As someone who is very new to cryptocurrency, I find this very interesting. Currently, my only holdings are in ripple, but I only invested about $50 because of how new I am. SNGLS/BTC seems like a really interesting option though as you pointed out due to its propensity to deliver potentially high pay outs with small holdings for people like myself who are just beginning to get their feet wet.
Its has low liquidity but that increases with popularity of coin.
Much room to explode! Casting a small but concise ladder...
The whole market is going down for the fundamentals, what a pain of today...
This correction too shall pass.
Keep calm and hold tight everyone! Its about to 🚀🚀
seems like those who got in to get rich lost faith in the crypto
Every correction is similar. Many lost faith in July and Sept of 2018.
You see this correction as no different? I am starting to think its good time to buy some more and top up my portfolio, more BTS, XVG, TRX, Steem and some EOS if that drops more..
TO THE MOON~~
Thanks for the analyzes!
Is it correction for btc?