What is the best way to research a coin?
- If you doing scalp trading, very short term, how can you check out a coin
- If you doing longer term trading or to hold a coin
What are the things that you should look for if it is a good buy or not?
When researching a coin, there's a bunch of different things you can look at. I'm going to mention a few, but I'm sure you guys can recommend more. For my examples below, I'm going to imagine we are looking at ONT - Ontology.
- Candle Patterns (shorter term)
There are so many to look at and they all have different meanings. Start by learning these. This is mostly for short term.
- Other Patterns/Chart Reading (longer term)
Again, there are hundreds that can give you an indication of a coin going up or down. I'll try to post some on the site, but start by looking at these:
- Ichimoku Cloud
(I'm sure there are lots and lots more....)
- Trading View Overview (shorter term)
Look at the trading view graph, eg: https://www.tradingview.com/symbols/ONTBTC/
Have a look at the "technicals" section and you will find a "buy/sell" indicator.
- Social Media (shorter and longer term)
You can see a lot of information by looking at the hashtags of the name of the coin. For example, on Twitter you could go to these links:
(This explains how to look up hashtags, but you can also apply this trick to Facebook and other social platforms)
The information will not be as easy to digest as a graph, but if you are willing to read a bit, you can pick up trends quite quickly, as well as other really nifty things, like Airdrops!
Note: It would probably not be a bad idea to write a scraper for twitter that scrapes hashtags and the words "airdrop" to find great freebies instantly. Someone has probably already done that though.
Let me know if you guys know of any other nifty ways to see if a coin is hot or not!