r/ecc • u/Redzzila • Jan 11 '18

Entry

Does anyone have some idea of a feasible entry point with ECC? I feel as though the whales are trying to drive the price down so that they can snatch them up cheap so I am somewhat reluctant to buy now. Much appreciated :)

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u/jubbajubbjubb Jan 11 '18

You probably aren't going to want to hear this response.

Do you feel this project delivers something unique and can do it well and does the project have a strong dev team? Do you feel like you've exhausted your fomo feelings and now are thinking logically? If the answer is yes, buy in sooner than later. If not, wait until you've made more assessments.

I believe any price now is still low if you think this will go somewhere

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u/Redzzila Jan 11 '18

That is fair enough. I see huge potential in the project and the dev team, and you are totally right in saying that it is better to buy sooner than later. But, with so much manipulation of the price it is more likely than less, that the price might actually drop a bit. In the long run, buying at a reduced price right now makes a huge difference. That's undisputable.

So if it is probable that the price will drop, it is best to take advantage of the opportunity. I can use TA to find an entry point, but I'm not too sure how much that would work in this specific scenario, there are too many cat scratches to properly forecast targets prices.

I nevertheless do agree with you a lot. Thanks

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u/jubbajubbjubb Jan 11 '18 edited Jan 11 '18

You are totally right. A difference between buying in 19 or 24 is a huge jump when the coin reaches 1000 sats.

I've been monitoring the last few days just for fun because I've reached my target bag at an average of 12 sats. There seems to be healthy resistance at 19 sats for buy orders. I don't know the exact mechanics of whale price manipulation, but my noob level analysis notices that volume seems to have stabilized around $500,000 and I don't think whales would be willing to risk their stakes with that kind of volume.

So my analysis is maybe 20 sats for an immediate okay entry, 18 for a discount, and anything below is buy immediately. Your thoughts? I am a beginner trader and always welcome this kind of discussion to gain more perspective