GAMEBTC LONG - TA stacks up, news +ve, $100bn market opportunity
Mis à jour
I've been watching GAMEBTC for a while. It's a coin with a clear use case, good team and product making tracking (see fundamentals below). The technical analysis has been converging to represent a great buy in opportunity. News over the last 24 hours has been very positive. All in all, with minimum downside risk (10%), I think this has become a bit of a no-brainer. We've seen a similar pattern happen, as suggested by EXCAVO in his post here.
TECHNICAL ANALYSIS
History
GAMEBTC has been in a large declining Elliot wave since it's high of 0.0002 in June. Wave 5 started 3rd October (high 0.000603) and has seen an minor declining 5 wave within that. With both the major and minor waves are now at their 5th leg, it looks like we have reached the bottom with 0.0002 - 0.000215 acting as support.
Targets
There are three targets, all derived from fib of the start of wave 5 (3rd October - 0.0006) down to low today (28 Nov - 0.000213). These also align with major up ticks and change of directions from this 5th wave.
Target 1: 0.0003
Target 2: 0.0004
Target 3: 0.0006
Buy in options
In early:
Buy 0.000215
Stop loss 0.000195 (10% risk)
Wait for breakout:
Buy 0.000255
False break out would resume back down to the declining channel (circa 0.000223)
Stop loss 0.00023 (10% risk)
FUNDAMENTALS
What is it and how big is the market?
This is a coin with a clear use case. "GameCredits (GAME) purpose is to become the universal currency for 2.6 billion gamers worldwide, to empower game developers both big and small in order to further grow the 100 billion dollar gaming industry".
Team
A well balanced team ) that matches technical knowhow with marketing knowhow.
Growth / Marketing
They have a strong marketing team. For example, news from yesterday that they are sponsoring a top esports event.
Product
Making great progress. A new version of the client was released today.
Exchanges
Poloniex, Bittrex, etc plus traction from yesterday on Korean exchange Coinrail.
WHY NOW?
Apart from the team, product and market opportunity looking strong, the technical analysis as of today stacks up and there's been some great news and activity in the past 24 hours:
Growth/Marketing
Exchange expansion
Product progress
I've been trading the space for the past 6 months and have managed to outperform the market (taking top 50 coins as base). This my first post on here so feedback/comments welcome!
Over and out.
TECHNICAL ANALYSIS
History
GAMEBTC has been in a large declining Elliot wave since it's high of 0.0002 in June. Wave 5 started 3rd October (high 0.000603) and has seen an minor declining 5 wave within that. With both the major and minor waves are now at their 5th leg, it looks like we have reached the bottom with 0.0002 - 0.000215 acting as support.
Targets
There are three targets, all derived from fib of the start of wave 5 (3rd October - 0.0006) down to low today (28 Nov - 0.000213). These also align with major up ticks and change of directions from this 5th wave.
Target 1: 0.0003
Target 2: 0.0004
Target 3: 0.0006
Buy in options
In early:
Buy 0.000215
Stop loss 0.000195 (10% risk)
Wait for breakout:
Buy 0.000255
False break out would resume back down to the declining channel (circa 0.000223)
Stop loss 0.00023 (10% risk)
FUNDAMENTALS
What is it and how big is the market?
This is a coin with a clear use case. "GameCredits (GAME) purpose is to become the universal currency for 2.6 billion gamers worldwide, to empower game developers both big and small in order to further grow the 100 billion dollar gaming industry".
Team
A well balanced team ) that matches technical knowhow with marketing knowhow.
Growth / Marketing
They have a strong marketing team. For example, news from yesterday that they are sponsoring a top esports event.
Product
Making great progress. A new version of the client was released today.
Exchanges
Poloniex, Bittrex, etc plus traction from yesterday on Korean exchange Coinrail.
WHY NOW?
Apart from the team, product and market opportunity looking strong, the technical analysis as of today stacks up and there's been some great news and activity in the past 24 hours:
Growth/Marketing
Exchange expansion
Product progress
I've been trading the space for the past 6 months and have managed to outperform the market (taking top 50 coins as base). This my first post on here so feedback/comments welcome!
Over and out.
Trade fermée: cible de profit atteinte
Target 2 reached
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