Welcome to your first Bitcoin baptism. Alts got absolutely destroyed by Bitcoin today. No worries though, I’ll walk you through this.
SALT was looking great until Bitcoin decided to go wild, but that’s how things go. As much as it sucks, my strategy with SALT is to just hold tight. As more and more loans are granted, the higher the demand for this coin will be. I a perfectly comfortable holding this coin for the long term, so in the short term I’ll just have to stick it out. If you are able to do so, .0006 BTC is a great place to add more.
We fell through the solid support today and it looks like it will find a new, declining support. Hopefully the bounce will be strong on that line, otherwise we will have to reevaluate and possibly take the loss on this trade. If we do bounce, former support will likely become new resistance. I will keep you updated via twitter.