We all know how important is hype in crypto. Not even bitcoin is out of danger from hype (see etf hype currently ongoing).
And SadowCash has and allegedly important announcement the 17th of march (see this).
Whatever it is, there will be hype prior annoucement. Probably hype train already ongoing.
This announcement could potentially be the open beta of their decentralized market built on top of their blockchain.
Basically this market is an ebay built on their blockchain and using sdcbtc private currency as their internal currency. Maybe a darknet market is a better comparison. But with the improvement of no counterparty risks nor fees (you dont have to trust the webmasters runing with your funds nor paying them a fee).
Technically we also have a cool setup with a huge triangle from ATH breaking out and daily macd turning bullish.
I expect huge buying pressure till the 17th and i will probably sell everything or most of it before the announcement.
My targets are 0.0021 and 0.0028.
Probably an easy trade. SL if we close two dailys inside the triangle.
No margin.
Check in related ideas a cool analysis both of fundamentals and technichals of an other trade, that triggered my interest in SDCBTC.
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if you are not in this tried i would try to buy 0.0016 and 0.00148
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if you are not in this TRADE** i would try to buy 0.0016 and 0.00148. Damn what a mistake.
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It seems we are going to have our first close inside the triangle today. Though it is soon to know it. Be ready to react before a strong rejection. Remember that A LOT of breakouts fail, we need to be ready to close the position.
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After etf hype-fud it seems sdc is back on track. One week till friday announcement. I hope we have time to load up on hype.
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Weekly about to confirm a nice breakout
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Target 1 reached, 40% position closed. 16% net profit pocketed. Lookinf forward for next target. Will close 50% of position there, leaving the remaining 10% to be closed just prior the announcement.
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Target 2 reached, 40% position closed. 34.6% net profit pocketed. So far, 50% of net profit got in this trade, and 20% of it still ongoing looking for a bull madness.
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We pulled back to 0.002. Even it was not planned, i felt tempted and just reloaded a 10% in this dip at 0.0023...
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Closed the 10% i bought in the dip 8h ago for 0.0028. That means an other 2.2% net profit added. So far, 36.8% net profit pocketed and still 10% of my position ongoing looking for a bull madness prior the announcement.
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I can feel the hype. Bull madness is about to come :D
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Oh i've seen a lot of mistakes in the comments lol.
Net profit so far is 52.8% (16% from 0.0015 to 0.0021 for 40% of position, 34.6% from 0.0015 to 0.0028 with 40% of position, then 2.2% profit from that unplanned reload of 10% of my original position), and i still have 20% of my position ongoing.
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sold 10% (half of the remaining position) for 0.0045. That is a 20% extra net profit. So far, 72.8% net profit (162.8% ROI) and still ongoing 10% of my original position.
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As i am rebalancing my account and i don't expect much more movement in this market, i'm closing my remaining position here.
Closing price 0.0037.
This means a 14.6% net profit.
Total net profit of this trade is 87.4%.
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As expected, "by the rumour, sell the news" rule was followed strictly. That's why i knew i should sell prior the news. My honest opinion? They just kinda scammed sdc holders. I hope they can pursue their goals and make a competitive platform, so all sdc holders get appropiately rewarded.
This was a great trade anyways. We sold 0.0028 in average taking small risks. If anyone used my buy points, that were filled two days after idea was made public, and used my sell points, must have done nice profits.
We could have pocketed much bigger profits, but every profit is a profit.
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etiennez0r
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Good call, very happy with it!
bagofXMR
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@etiennez0r, thank you! i'm glad you are happy/making profits with it :D
Proteus
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Great call, wish I had got in earlier, but managed to enter at .0021, not too bad considering today's .00375
bagofXMR
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@Proteus, Over 0.004 right now! DAMN! This was a great trade.
Merits to @Intuit, thanks to his chart i found this gem :D
0.0021 is a great entry, you are at 100% profit now.
Another great trade. I got in on March 9th, wish i got more, still holding, intending to hold to the Mar 17th announcement.
Coin looks like it has good fundamentals including innovative 3rd party free escrow for dark markets feature. Worried about a pre-mine but dash is allegedly pre-mined also and it's over $70 now, wondering if this coin can do the same.
bagofXMR
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@Voluntarist007, thaks for the positive comment. Did you use my suggested points to place buy orders?
And yep, if dash can go to 70$ with its fundamentals, a lot of things can too. But dash has some peculiarities that make it easy to pump to the infinite and beyond.
Maybe i should hold a bigger % of my position, as this clearly seems to be headed to a nice pump, but i can't measure a target for a irrational pump, so if i get caught in the dump i at least have my profits tied. 50% net profit +80% position closed (back to btc) means that i have a current ROI of 130%, i can get caught in a dump to 0.0000001 and i would still make profit :D And i love that feeling haha