Why Synereo is an interesting case now?
Here we have a lot of really bad news on one side. In order not to repeat much, just read this document. It represents the view only from one side, but shows pretty clear how deep is the conflict inside the team.
There are also calls from investors to make a refund for the crowdsale.
Generally, almost no one consider to get into AMP (Synereos token) now.
But let’s look on the chart:
Wave 3 is the perfect 2.618 of the wave 1. Wave 2 is clear zigzag, wave 4 is a triangle. To be honest it is one of the best 5 waves the author saw this year in crypto. And what we expect after the 5 waves down are completed, combined with such a negative sentiment we witness?
The rise.
Sounds strange and irrational when the project seem to be falling apart? But the trading/investing is pretty much exactly this – most of the time irrational and against ones deep emotion. Buy when the fear is at the strongest. Sell when the excitement is so strong that you actually want to buy more..
What is the target? Around 0.00014. Why? The wave 4 was a triangle, it is usual to have a pretty swift retrace to the origin of the thrust. In our case it was somewhere around 0.00014.
This is not a trading advice, as usual. But see it as an education on how TA (technical analyses), combined with sentiment analyses (investigation of the crowd emotions) work together.
As for ETH.. There is slightly higher chance to go up and test 0.01450 than to fall down to retest 0.08. Why? Because of BTC (not shown today) – it looks ripe for a swift drop to around $730.
Sow why author stays away from this trade?
Because it is more profitable in the long-term to trade not so often but stroger (80-20) setups. Where we have 80% chances for success with 20% risk. The ETH long now is like 60% with 40% risk.
enjoy the weekend!
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Hi Ravno, what do you think about AMP now? Didn’t reach 0.00014, but these days seems interesting!
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The crowd seem to be quiet and not really aware of the late price increase. So I personally still hold my AMP with the same goal as before -> 0.00014. There is coming process of converting AMP to RChain tokens, which will probably give some news coverage and the days might become even more interesting… But as usual don’t take it as an advice to do the same as I do. Just try to understand the way I see the markets and act accordingly to your visions and trading discipline.
Take care!
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Thanks for sharing your thoughts! Well, for the moment I am in profit, so I can decide to hold and see what will happen. When will be santiment be released? I subscribed to the newsletter 2-3 weeks ago, but didn’t receive any news. Thanks!
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Yes. The AMP is in good profit now (in fiat money especially) but that alone isn’t reason enough to hold. The moment to close will be not easy one as normally you would feel very good and tempted to hold even more (as there might be some very good news coming).
As for the platform, you can already check out the new page where we go a bit into the details.. We are in the process of finalizing the “colored paper” and “token design” now. Might publish them at the end of the week.
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Yeah, being able to control emotions is difficult. Your blog is helping in this direction. Concerning the platform, thanks, I will wait for updates!
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