What looks GOOD?

bitbrain (63)in #cryptocurrency • 6 years ago

I am still piecing together parts of a semi-standardised daily post format that I want to start publishing soon.

Today I want to test a component of that post: my recommended buys for the short-term future (to hold for the next week or maybe longer.) This post will be in a lot more detail, for those posts I will have to stick strictly to the very best few coins, but this post gives you an idea of how they may look.

Please feel free to provide feedback. I promise that I won't mock you in the comments and say that you are "wrong". Unless of course you happen to be wrong.

Sorry again for the recent disruption in transmission from Radio Bit Brain. The tower was down (I was more ill than I've been in probably over a decade) and the Bit Brainwaves could not get out. It's actually funny: after being sick for two days solid, I was so tired of lying in bed feeling miserable, that I thought moving around Casa del Bit a little may help. So I got up, wrote this post and then sent an email. By the time that my email was finished I was really rushing it just to get back to bed! Yeah, I was too sick to even sit and type slowly. Anyway, that's all over now (I'm still weak, but I'm building strength fast) and God willing, my run of not-so-great events will change to a more positive direction. If anyone upstairs is reading this: the crypto market would be a great place to start please!

From https://www.pexels.com/photo/white-and-brown-cooked-dish-on-white-ceramic-bowls-958545/ by Chan Walrus

What looks GOOD?

Method and limitations

As I mentioned above, these are short-term buys, but may be good for longer term holds too. It depends on how closely you watch them.

The method that I am using to determine what the good buys are is my "Sparkline Analysis" method, as described in more detail in this post: https://steemit.com/cryptocurrency/@bitbrain/cryptos-to-buy-in-bad-times-a-spark-in-the-dark. I have tried to keep any favouritism out of it (for a change) and have been as unbiased and as objective as possible.

Sparklines only deal with a week's worth of data at a time, but you can build up a longer mental picture if a coin attracts your attention and you remember it's recent previous performance, or if you follow the coin regularly (i.e. you spot a trend). I'll show you what I mean as I work through them.

I don't work with all the coins, that would be impossible, so I am sticking to some rather limiting factors and working to my own rules as follows:

Firstly: the coins or tokens must be on CMC. That's where I read the sparklines.

Secondly: They must appear in the Top 100. Sure, many lower market cap coins may be worth the buy, but the top ones are the most important ones and are also generally the safer buys. So these suggestions are not for the highly experienced (who probably have their own methods), or for those looking for high ROI low market cap deals.

Thirdly: In addition to the point above I am also including low market cap coins which appear in my own CMC "Watchlist" (if you don't use this CMC feature then you really should try it). These are all coins that I hold and thus look at every day anyway. Many of them are low or very low market cap coins.

So what I did for this post is to take all the coins that meet the above mentioned criteria and currently look ripe for potential investment and compile them into this post. Remember: these are only my suggestions and they are based only on a fast sparkline analysis and a quick check of a longer scale CMC chart. In some cases I have been following individual coins more closely, but regardless of that: DYOR if you want to buy!

On to the suggestions:

Good looking coins and tokens:

Acknowledgement: All charts from coinmarketcap.com - note that the time-scales vary considerably from chart to chart

Top 100 Market Cap coins and tokens:

Ripple (XRP)

As much as I hate to admit it, Ripple is fast out of the starting blocks and is looking good. But the rise is so fast that I question its sustainability. Still, Ripple plays to its own set of rules.

Stellar Lumens (XLM)

Decentralised-cousin-of-Ripple is also looking strong, much like Ripple, but in a more sustainable way. I think that these two often reinforce each other (crypto "families" seem to work that way - look at STEEM/BTS/EOS for another example.) It's been climbing steadily for the last 10 days with no sign of stopping.

Cardano (ADA)

After hitting the first bottom of a double bottom 8 days ago, ADA picked up a little before hitting again on Tuesday. After that it began to climb at pace: looking very good for now.

Verge (XVG)

The fourth coin on the list and the third one to have a ticker starting with an "X". If I ever make my own crypto then I think the ticker symbol will just be a string of "X"s! I'm not a Verge fan, so like Ripple, this one pains me to see. But the fact is that after a solid bounce off resistance last Wednesday, it has been climbing strongly at an ever increasing rate. I would still hate to hold XVG long-term, but it does look like a good buy to hold for perhaps the rest of the month.

Chainlink (LINK)

I remember this coin once enjoying a briefly fanatical fan base. Briefly. It's a pity, because I think that LINK is a decent coin, even though I've never held any of my own. It's looking like a good buy right now, perhaps this is a good time to start a LINK hodl? It's now been doing well for two months!

Aurora (AOA)

I know little to nothing about Aurora (I didn't even know the ticker symbol) so I can't comment on the fundamentals of this crypto. What I can say is that the chart looks positive as of a week ago and it looks like it's trying to break out...

Ark (ARK)

Ark has been climbing for a week now, but is showing signs that it may be slowing down soon. But it should have at least a good few days left in it.

CyberMiles (CMT)

Like Aurora, I know nothing about this crypto. But I can see it climbing very well at an increasing rate.

WAX (WAX)

The WAX chart does not do it justice. I've been watching this coin closely ever since I wrote these:
https://steemit.com/cryptocurrency/@bitbrain/how-to-win-the-game-of-cryptocurrencies-part-1
https://steemit.com/cryptocurrency/@bitbrain/how-to-win-the-game-of-cryptocurrencies-part-2
https://steemit.com/cryptocurrency/@bitbrain/how-to-win-the-game-of-cryptocurrencies-part-3
I hasn't been rising, but it's seemed to weather price drops better than most. I don't hold WAX. I wish that I did. It's had a good week and it's not slowing down at all.

Dragonchain (DRGN)

Another fairly good coin that I don't have. Like Chainlink, DRGN enjoyed a brief period of great popularity before dropping below the radar. Well, someone is still a fan because DRGN has been climbing solidly since August 15 and is only increasing! On rapid chart analysis alone, I would call this one a very good buy right now.

STEEM (STEEM)

Here is one that you should all know! STEEM has had a good week, with some obvious rapid market movements, no doubt a result of the hard fork and it's associated complications and news. I think that STEEM will continue to climb now. Not a bad coin to be holding at all...

TenX (PAY)

PAY has been doing well well since late August, at an increasingly rapid rate. I attribute some of this to the publishing of its recent transparency report. I think that over the last day or two it has climbed a bit too fast, so I would possibly wait another day or two to buy a dip (set those orders so long) before getting into this promising coin (which always seems so close to issuing crypto credit cards, yet never does).

Non-Top 100 from Bit Brain's Watchlist

district0x (DNT)

Up very strongly in the last 8 days, and doing rather well lately, DNT is probably worth a buy. Hard to say how long this climb will last though.

InvestFeed (IFT)

With a market cap way below what it is worth, it's hard to imagine that this won't just keep on rising for a long time to come. But this is crypto, and crypto has thrown the rule book away, retrieved it, jumped on it and burnt it to ash. IFT has now been climbing for over a month with no sign of slowing down. I'm holding mine tightly.

Everex (EVX)

Underrated Everex is climbing slowly and steadily, just as a coin should in ideal circumstances. The climb started on 12 September.

Request Network (REQ)

It's had a good week but it may be slowing now. Should still have a few days profit in it.

UTrust (UTK)

I've been waiting all year for UTK to move. Oh well, better late than never. It's been moving for a week now, but may be starting to slow, it's very hard to tell at this stage.

There you have them folks. Use them, don't use them.

But I tell you this: if you aren't buying now, then when will you buy? This is a good time to buy...

Yours in crypto,
Bit Brain

PS It's not too late to participate in the daily KuCoin - "guess the price of BTC tomorrow" competition that is giving away BTC every day. Check this post for how: https://steemit.com/cryptocurrency/@bitbrain/your-btc-ta-could-win-you-1-btc-today