Hello, Trading View,
This is a very multitudinous strategy. Because there are several factors that will effect the price of this coin. Both immediately and long term. If you examine the price action in the past. New coins listed on Binance will usually spike up on the first few days on binance. Then they calm back down and reach the true market price.
On the other side of the strategy. You have a long term future for this coin. Simply because the supply for Cloak is at about 5,000,000. So the demand is what will heavily influence the price of this coin. Once the demand starts picking up. You can see huge gains for it. Simply because there are only 5,000,000 coins ever minted. So if you want to buy in while the coin is still at $14 each. You should do so before it hits binance. When the coins value will sky rocket.
Let's also examine the price of how the BTC/USD pair effects the price of this coin.
BTC/USD is in green.
CLOAK/BTC is in blue.
Once the price of BTC goes up in USD it reduces the amount of BTC you can get for this coin. Sense the value of BTC is heading up right now. The strategy of holding this coin long term should be post post poned until we can verify that the USD/BTC is indeed an inverted head and shoulders.
Once that happens, all long term bets are off for this coin. If the BTC/USD pair does not turn into a trend reversal. Then all bets are on for this coin long term. And it might be a bit better to buy in now. And ride the wave up when it hits Binance. Or you will have to buy it in at a higher price later. And ROI will not be as good.
Granted the wide range of strategies you can employ for this coin. I will not be posting buy-in and targets. Because it is so subjective to the market conditions. That would be pointless.
This is a very multitudinous strategy. Because there are several factors that will effect the price of this coin. Both immediately and long term. If you examine the price action in the past. New coins listed on Binance will usually spike up on the first few days on binance. Then they calm back down and reach the true market price.
On the other side of the strategy. You have a long term future for this coin. Simply because the supply for Cloak is at about 5,000,000. So the demand is what will heavily influence the price of this coin. Once the demand starts picking up. You can see huge gains for it. Simply because there are only 5,000,000 coins ever minted. So if you want to buy in while the coin is still at $14 each. You should do so before it hits binance. When the coins value will sky rocket.
Let's also examine the price of how the BTC/USD pair effects the price of this coin.
BTC/USD is in green.
CLOAK/BTC is in blue.
Once the price of BTC goes up in USD it reduces the amount of BTC you can get for this coin. Sense the value of BTC is heading up right now. The strategy of holding this coin long term should be post post poned until we can verify that the USD/BTC is indeed an inverted head and shoulders.
Once that happens, all long term bets are off for this coin. If the BTC/USD pair does not turn into a trend reversal. Then all bets are on for this coin long term. And it might be a bit better to buy in now. And ride the wave up when it hits Binance. Or you will have to buy it in at a higher price later. And ROI will not be as good.
Granted the wide range of strategies you can employ for this coin. I will not be posting buy-in and targets. Because it is so subjective to the market conditions. That would be pointless.
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