I know I am not a perfect example of a Steemian since I do not blog much. I have been spending hours and days trying to understand trends and patterns within value that is so fragile to human psycho.
I find that unlike most investments, where smart behavior outthinks crowd behavior more often than not, crypto investments are so volatile and at times cannot be attributed to rational behavior.
Regardless, many speculators are acting individually behind a screen god knows where and are prone to individual behavior thus driving the markets wildly.
So What About Bancor Already? Give us Some Fundamentals!
Ok, enough on that, I'll stay on topic. After some fundamental research behind the Bancor Network project, I give a 3.5/5 rating for work. This is for multiple reasons despite their rough ICO and 6month down period:
- Nowadays, it's becoming more and more practice to go "stealth" while working in order to not "rustle the herd."
- Due to a hurting discovery within the Bancor Protocol that alleged it was broken, Bancor had a lot of making up to do to their almost 11k investors. Come on, their Swiss and from what I know of Swiss they are not going to bicker about after a mistake
- The team spend time in important gatherings within the community and beyond (eg: Davos) showing that they are committed to staying networked and creating partnerships
- Continuing from above but its own point, Bancor have added quite a few cryptos to their very stylish network allowing very smooth interchangeability that may prove to be quite valuable as these cryptos begin to scale worldwide and people want to... interchange :')
- I could go on, but that would be shilling (if this is already, I apologize - it is my own opinion on this investment).
Alright, So What about the Technicals?
OKAY! I really only use 2 indicators that allow me to profit a very high percentage of the time. Trading works differently for everyone so again, do not take this as investing advice - I simply want to share with Steemit community!
As you can see below, Bancor is showing very bullish signs as it sits near all time lows since its ICO this past summer.
The first is the Hull Moving Average, which I find helps identify trend when used at 50 period (or slightly adjusted in some cases). It is the Dark Blue line on the chart above.
The second technical indicator I use is the Ichumoku clouds which help me identify trend direction again, but also with support and resistance indicators. You may get the idea that trend is important and it is as the crowd mentality is what drives crypto investment growth. Hmmm, interesting...
I started realizing that trading anything under 4hr charts makes you feel like your chasing little red smurf demons around. It is so difficult to get an idea on trend.
My favorite charts are 1 day charts. They allow me to place a trade every 2-7 days and really research my next trade(s) during the meantime.
Something good to remember is that these charts will work as long as you as an investor do your own homework. It goes without saying that technical charts rarely will work if BTC is on the rise. Your choice to choose what to do during those strong rallies.
Check these indicators out and let me know if you'd invest any of your earnings following these indicators?
Take it Easy! Do you think this was a good buy for medium to longterm?