TOP 5 Altcoin picks

Week 1 of September

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Not long ago this article would have been almost impossible to write, but after receiving so many positive reactions on Twitter I’ve decided to give it a try, so now it’s official. I’m a blogger!

Most of the times I’ll be picking some altcoins that got my attention through the week and analyse them from a fundamental and technical perspective and also occasionally some easily explained trading rules, based on price, volume transformation, market-cycles, chart patterns and more stuff like that.

Regarding the prices will strictly be Bitcoin and Satoshi talk, not USD, if you’re not used to understand prices in Satoshi I suggest you learn and apply immediately. We are here to make Bitcoin right? At least I know I am.

Disclaimer:

Take note, as a friendly advice, that this should not be regarded as “investment advice” or as a “recommendation”, this series of articles were made at request and from desire to show you my trading strategies that I’ve developed over the years. Everybody should find it’s own strategy, based on their desired results and risk appetite. You should also take note that as cryptocurrency markets are severely volatile, the prices by the time you’re reading this, might have changed.

About me:

My name is Alex, I’m 25 years old, Law-School graduate, former Paralegal and for almost 2 years full-time Cryptocurrency trader.

First I got interested in Forex, attended a IRL Trading School where I learned first the basics and then advanced trading strategies. After that, got interested in Bitcoin and cryptocurrencies and shortly after that started mining and trading.

I mostly trade mid and lowcap altcoins but I also fuel my gambling addiction on Bitmex from time to time taking advantage or getting rekt in times of major Bitcoin volatility.

As it’s my first article I felt the need to make a short introduction but I promise you that next time we’ll get straight to business. So here are my altcoin picks for the first instalment of my blog.

1. GAMECREDITS (GAME)

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FUNDAMENTAL ANALYSIS

Year 2017 was a turning point for GameCredits, after they announced the release of GameCredits Store things started working out very well for them. Turns out over 150 employees and a real product can do wonders for a blockchain project. Recently they’ve announced their partnership with MobileGO and both attended on 26 August to Blockemon Conference 2017 (the largest blockchain conference in Serbia) where they spoke for over an hour explaining their ambitions and current developments alongside speakers from Microsoft and IBM. After they’ve deployed an impressive amount of marketing funds this summer, we should begin to here more and more about this project. Also “Decentralized virtual gamer marketplace” it’s expected to be released in Q4,

TECHNICAL ANALYSIS

We’ve all seen GAME in full bullrun mode, in the first quarter of 2017, with an amazing price increase of over 1000% from the start of the year till the June ATH.

With the recent altcoin corrections we’ve seen this summer, GAME has slowly returned to the buy-zone, leaving room to a price increase of more than 5x to the ATH.

For entering this trade, there are three options depending on the type of trader you are.

• Slowly starting to accumulate now, building a satisfying position as the chart is starting to look bottomed out and patiently wait for the moon.
• For the conventional breakout traders I would wait for an uptrend confirmation, meaning higher highs and higher lows pattern + downtrend breakout (the red line). ENTRY: ~ 60k sats
• If you are not much of a risk taker but still want to join the party you could wait for the price to enter the blue area (this might or might not happen) for a safe low risk entry. ENTRY: ~ 20–30k sats

Target!: We have 3 green boxes for targets, near major resistance points, profit will be taken on the way up, until the third box and as I always do, leaving 10% of the position for a new possible ATH. 1. 80–100k, 2. 120–140k 3. 160–180k.

Personally: I’ve started to accumulate on the way down from 50k to 40k and I’ll be waiting for at least 100k before getting out my first profits.

2. COUNTERPARTY (XCP)

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FUNDAMENTAL ANALYSIS

Counterparty has been here since like forever. By definition Counterparty is a financial platform for creating peer-to-peer financial applications on the Bitcoin blockchain. Counterparty allows you to easily create a currency inside the Bitcoin blockchain. This sleeping beast has everything: Smart-contracts, Betting, Crowdfunding, Proof of Publication, Verifiable Voting, In-game Currencies, Lighting Network, and last but not least a DEX ( decentralized exchange). Question. Why is this not hyped yet? And the answer is: Being based on the Bitcoin blockchain, prior Segwit activation, a lot of these attributes could not be used and/or had big fees. Bitcoin Segwit is here so is just a matter of time till these can be used completely. Just imagine. ICO’s on Counterparty with 2.6MM Total Supply which is constantly being burned, hmm.… you do the math.

TECHNICAL ANALYSIS

XCP chart is quite simple. ATH in 2014 of 0.045 BTC current price 0.0030 BTC and almost 3 years of accumulation. With fundamentals kicking in 2017 we should see some price increase in the near future.

How to trade this: As it appears to be the bottom, I would slowly start to accumulate. As it has been in heavy accumulation the past years it’s hard to say when to take profit because most probably the breakout will be aggressive. I would say take your investment out after it starts moving and leave the profit to ride all the way up. As I’ve seen some resistance in the past, around 500-600k sats and 800k sats, you could look for these prices when securing profits.

Me: I’ve been accumulating XCP for a while now and my average buy is 350k. As I have high hopes for this one and I believe is severely undervalued I’m looking forward to prices like 0.01, 0.02 BTC or even more.

3. MOTHERSHIP (MSP)

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FUNDAMENTAL ANALYSIS

Mothership mainly it’s a cryptocurrency exchange being currently built in around the Estonian e-Residency program. Mothership had a really good start so far, transparent and constantly updated roadmap, friendly devs and also a radiant telegram community with close to 2000 members in just over 2 months.

They’ve posted the first monthly update on August 10, keeping us in the loop with their work and the next one should be on its way, also the “Token Market” with its first client is scheduled to release at the end of September.

So I’m going to be straight here: Cryptocurrency exchange, token market, cloud hosting platform and wallet service all of them combined with excellent developers, great community and let’s not forget…it’s f***ing LEGAL! Sounds good right?

TECHNICAL ANALYSIS

So, let’s talk some price action. MSP ICO ended on 28 July 2017 and it’s currently trading at 4x above ICO price with the trading mainly happening on Cryptopia for now.

Not much dipping happened with the recent BTC correction. Chart is looking strong and it’s forming a triangle that if I’ll have to guess will break out by the time the second Monthly Update will be posted, or we could see a flat until the Token market and the client will be released this month.

If you haven’t joined the ICO and looking to purchase some MSP, you might be right in time as we’ve seen some tremendous ICO gains in the past, where 4x was just the beginning.

ME: I’m holding MSP since ICO and i’m not planning to sell anytime soon. Market cap still low, impressive Roadmap ahead and I have a feeling this will make the investors even happier in the near future.

4. VERGE (XVG)

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FUNDAMENTAL ANALYSIS

I’ve been hearing more and more about Verge the past couple of weeks. Verge is a secure and anonymous cryptocurrency, based on the Bitcoin Blockchain. No ICO, no pre-mine and developing being supported by the Verge community. With the recent big Chinese attention, the social media hype, huuuge community, and rumors about a possible roadmap update, this might be not over just yet. But let’s see, is it a buy?

TECHNICAL ANALYSIS

Let’s take a couple of seconds to look at this chart…………….

Now, this thing has a perfect setup for a new ATH, but still, if you’re not holding any XVG by now, getting in at these prices it’s a bit risky. Risk-reward ratio about 50/50, you have to be the judge and figure out if it’s worth it. If you are holding any, I would secure some profits now and let the rest ride for a posible ATH.

Downtrend is clearly broken, volume still huge but it’s decreasing. Since I think we are entering a full altcoin bull-run this autumn, the Blue circle seems like a decent entry near the support area if you desperately need to get into XVG.

Dont forget, when traders start looking for that magic “bucket load of cash”, often the last thing they think about are exit strategies. Exits are where the money is, dude… don’t get greedy.

ME: I had XVG, sold it a bit early, still profit is profit.

5. UBIQ (UBQ)

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FUNDAMENTAL ANALYSIS

Ubiq is a blockchain based supercomuting platform which allows you to create smart contracts and decentralized applications, built on an improved ETH codebase. Impressive team, and impressive support from the community, this project started to gain full attention at the beginning of 2017 when it swaped from Jumbucks and after attending three AI Fintech in Toronto, Vancouver and Lagos. Key developer is Julian Yap, crypto code auditor from Bittrex exchange and Luke Williams as another a class developer and editor for Ubiq. Some interesting assets part of UBQ right now (APX, GEO, SPHR) and i’m sure it’s only the beginning of this great project.

TECHNICAL ANALYSIS

Currently sitting at a major lever (the blue line), it could turn out as a support or as a resistance.

If the blue line holds, I don’t see any reason that it should not go for a new ATH, on the other hand, if the blue line will not hold it will most probably return to the next support which is in the green box.

I would suggest to wait and see what happens next, if the blue line holds should be safe to enter after confirmation around 53k sats, if not the next entry should be in the area of 25– 35k sats.

Me: I’m not holding any UBQ but I’m holding a bunch of UBQ assets.

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Good, so that’s it for this first article, I hope it turned out well and since it’s my first blog article of any kind I would appreciate some feedback from you guys positive or negative, to help me improve my future posts.

Thank you!

Alex Galaxy.

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