HIVE is an Easy Buy at 2000 Satoshis
I've seen a few different people talking about the recent HIVE dip. The leo twitter account also mentioned that HIVE deposits and withdrawals are closed on bittrex, which is providing an opportunity to buy cheap HIVE over on Binanace.
Since I trade primarily on Binance, this is an easy thing for me to do. I also have a firm belief in HIVE bouncing off of the 1900 SAT level. Starting your accumulation of HIVE at 2000ish satoshis is not a bad idea.
HIVE is quite an interesting currency to trade. Although it's had a tumultuous price history since its launch on Binance (as you can see in this chart), one could look to the history of STEEM to get a decent sense of HIVE trading patterns.
While there are some key differences between STEEM distribution and HIVE distribution, one thing that is obvious is how the bottoms are reached, defined and then broken away from.
In my opinion, we're looking at about a 20% profit for this trade:
- Entry point: 2030 SATs (filled)
- Second Entry: 1930 SATs (not yet filled)
- Third Entry: 1830 SATs (not yet filled)
- Target Exit: 2200-2300 SATs
Posted Using LeoFinance
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Sad, that you suggest an exit already at 2200-2300. The journey is just starting!
I use the dips just to accumulate, and get a 10+ APR while HODLing.
I do typically keep some for accumulation, but I am much more of a trader than a HODLer. Different strokes for different folks :)
I see the value in hodling, but this is just the way I like to manage my account when it comes to bitcoin, eth or even Hive.
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Fair enough.
I see you have multiple entry and profit targets, but no stop loss.
With a 20% profit projection, what percentage of your account are you risking to achieve this?
This is the most important number in any trade.
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All of my trades stay around 1-2% of my overall account size.
I also don't believe in stop-loss orders. I only trade in currencies I see to have a long-term potential and if the trade goes against me to asignficant degree, then I'll leg in to a larger position at a lower price.
Trade small, trade often is a philosophy I live by.
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