what i really like about this coin is that it almost instantly recovers from these dumps:
10 Minutes and the price went from 9800 to 9100 and bounced back to 9600.
Im glad there are so many slightly underpriced buy orders, thats a huge safety net. Rubberbanding at its best.
These dumps only happen because the whales know they can earn more black coins during these dumps because weak hands sell. Its just day trading.
If you would see blackcoin everytime when it hits a new high and then it bounces down like 5 times average before recovering back and over it. Well then when blackcoin hits 10k for the first time you could know that you could sell now and buy back lower and repeat this a few times before you can't do it anymore.
actually im to afraid to sell at this point... i have them tight since they were at 1300 :-)
I made some mistakes while dabbling into daytrading before i discovered blackcoin. Lost some good money at the cost of learning. Daytrading doesnt seem like the right strategy for me. I tend to read charts the wrong way :-)
However i can see that it can work for other individuals. Im just glad dumps like this doesnt seem to have a large effect anymore. There ist just to much buy pressure.
if you want a crash course, throw a little bit of btc into btc-e or stamp, and get involved with the community at tradingview. i spent 6 weeks trading btc and reading charts, and things seem to make a lot more sense now, i.e. sentiment, trends, news, hype etc.
edit; take everything w/ a grain of salt at tv though, a lot of chartists think they are the bomb.. just learn from the people who make the right moves there. there's only a few.
http://tradingview.comhttp://bitcoinwisdom.comhttp://hypron.net/bitcoinwisdom/that stuff, along with the help from the right people on tv, twitter, and irc.. will go a long way.
