How to sell altcoin on top?
Just want to say that this post is not for long-term investors who are waiting for fixing their losses "x-profits", but for ordinary mortal traders who make more than 1 trade per month;). I think everyone remembers what happened in spring and many of you understand that such a rapid growth was due to the newly arrived hamsters traders who were not experienced and don't understood how to trade. But what has changed since then? Nothing, the psychology of the crowd remains the same, only the scale of movements has diminished.
On the example of two coins (EDG and NXC), I will share my vision of what happens to the course, with "pump during good news".
EDG - token for casino on smart-contracts, and NXC - token for the BtV(Betond the Void) game. Тhese two coins were waiting for big announcements, it was expected that, NXC will launch his game on Steem 27 september, and EDG will take licesnse for their casino - 17 september.
How coins looks like before this dates.
EGD - near 13.5k - 21k, with average accumulation price near 17-17.5k, good volume without big spikes.
NXC - near 5k - 7k, with average accumulation price near 6k, no volume, so NXC had spikes to 7k.
Usually it is difficult to predict when the growth will begin in anticipation of news, it depends on a large number of factors ( season, coin itself, the state of the market, etc.), but on average it's - 1 week.
That's what happens to the coin when it accumulates for 2 months and news that comes out have been waiting for about half a year.
BOOM!
+122% growth in one week
NXC +122% too
And here it is worth mentioning that growth is on expectations, no one really knows how the Steem works when it adding games , whether the game is popular, whether it will work normally and so on, according to EDG the identical situation, no one knows whether they will give a license or no, the trader sees that the coin has news soon, sees that the coin had HYIP in social networks, many posts on bitcointalk, and he buys, as coins grow, most traders go in profits, but they don't fix profit, they are waiting for continued growth, they are waiting more news, think that the news will give an impulse for growth. And they are holding.
That's what happens when you hold to much and wait for news.
NXC
50% fall from high, but why? The game doesn't go out as quickly as it would like, EDG doesn't give a license. And as practice shows, people who bought a coin during growth and didn't sell it much more than those who bought on the "bottom" (at the price of accumulation) and sold about high, and those who didn't have time to sell, then keep these coins.
But what happens if trader knows how to use several indicators and had tradingview.
NXC the same picture
Just a few horizontal lines from the past local high can allow you to earn or not to make a silly deal (buy on high)