The price has already broken through the 0.00282 support and wasn’t able to come back. More likely we will see a re-test of the resistance and further decline to the 0.00220 level. During this downward movement, you can start gaining a LONG position with the target in the 0.00400 area.
Well, it was a technical part, now let’s talk about the fundamental one. Binance announced a new project on their launchpad which called WINK. This project is based on the TRON blockchain which means that Justin Sun will shill this project. Everybody knows it and there will be pretty much traders who will want to join this event. As you know, the requirements for tickets are quite simple: you need to hold BNB. It has worked before and will work now, BNB will grow up.
1- Do not invest in every ICO – most of them are a scam.
2- Crypto is a heavily manipulated commodity and the price can change at any moment.
3- The creation cost of a coin represents the “wholesale” price – It is always better to buy when the price is close to the creation cost.
4- Crypto has a natural cash flow that dictates the selling pressure. Like, 1800 bitcoins are mine each day so 1800 bitcoin must be bought at the current price (“means market needs new $18 millions of investment every day if the price is $10,000 to maintain the current price“).
5- Patience and timing are key to making a profit:
Buy, when the price is close to the creation cost.
Sell, when the price is way high off the creation cost.