A Chart That Whale Really Love to Play, $BCN Cycles.No doubt it's a long way to go for Bytecoin to sitting on #24 right now on coinmartketcap. BCN is one of lowest shit coin that has an quite tempting cycle to play on. Just as you see the Risk:Reward is really great at the moment to get in and patience to see your sell order filled.
Not much to say anymore, you judge.
Positivity
$XRP Dump IdeasXRP just experiencing a dead cat bounce few days ago and producing a quite massive gains for those who entering at the right time. Wiping 12 weeks bearish in just 4 days pump.
We've been informing you all to exit this "not last forever pump" and buy back later. Here is the support and resistance case
1. XRP will have a weak support above 5000 sats where the demand has been built. But basically, the recent dump probably can be brutal.
2. For #1 reasons we are seeing that the second support as the strongest support which is around 4k sats and below 4,5k sats where at this level the demand are quite long for accumulating phase that probably "the whale" already enter long enough to accumulate before we even realize.
3. RSI level still in the middle which give a quite big room for retracement downward.
Trade safe!
NULS Bull DivVoicing My Opinions To Strangers In A Digital Medium Called " TradingView " Through My Mechanical KeyBoard Via Text .
XRPUSD Triangle setupXRP Mooned, will it run out of steam ?
I think yes, but charts only matter. So let's see. Trade on breakout
NOT TRADING ADVICE, DYOR and MANAGE YOUR RISKS
XRPUSD - Trade on breakout 20%Yooooo,
So basically, XRP has been rekt lately.
Bottom might be called here, or not. However.
Two options :
BUY : Breakout of the linear regression channel
or
BUY : Break of 0.286
SELL : Whenever ;)
NOT TRADING ADVICE - Manage your risks guys
If you draw enough descending wedges does it go up?Haha - I guess after you've lost a fuck ton of money you can expect the slot machine to spit back a couple singles so that you can keep justifying your gambling addiction.
DOGE goes mad , no dev coins getting attention [BTFD]so there is shite and then shitecoins
DOGE is certainly in that bag yet it can also be a great indicator to the market in general
MASSIVE bull signal days ago on this, which i was not able to catch personally been very busy out of the markets too, so the CoP qwent up into bull zone, RSI and Gann fann showing clear signs of bullishness....
if u wanna play with shitcoins i highly recommend using margins so u dont end up having to hold some piece of crap coin that u might not ever use or be able to sell again
so levels to watch using the fib are..
possible next bull move 112-118 and then possibly 150 on the next moves up
possible next bear moves 84, 75, 65, 54, 35 sats - depending on market u can possibly long from these positions
have a great weekend and even more powerful week, seems to be the weekend of the shitcoin, with RDD, BCN and others moving up
we are GIVING AWAY crypto coins in a competition in our telegram chat room, details below to join it.....
all u gotta do is guess which market/pairs the chart is from :) good spotting!
Quick BCH corrective scalpRandom idea
Big moon candle, pump and dump, whatever
MANAGE YOUR RISKS, NOT TRADING ADVICE
ETC PnD ponzi most likely fueled by fraudsters & inside tradersEverytime there is a coinbase tweet, it's already pumped 30 seconds in ADVANCE with f#cking IRRELEVANT news. Inside trading much?
Combine that with a shitty exchange somewhere who lags 5-10 seconds on trade execution with tons of errors and getting stopped out on the exact 0.001 point, what more can go wrong with this shit crypto.
Wait until those clowns are done with pumping then short this garbage with has 0 functionality other than exchange owners loving this piece of sh#t and happily trade against you when their bots stop you out.
H&S target: (sub) ZERO
NXC will PUMP so hard..Its bottomed, just look at it, its never got a chance to pump yet, so maybe we see a 10x or somethin crazy.
Credibility filter for cryptocurrencies (part 2)Dear friends,
In my last article, I described quite a simple filter that will help even a beginner identify whether a certain altcoin is worth buying or not. I just want to say it is not a trading system and doesn’t provide any trade signals. This tool performs only a single, but very important, task: to identify among all that diversity of altcoins those, which attract a lot of buyers and are worth investing.
As the crypto market will stop falling down sooner or later, and the first matter for any investor will be where to invest their capitals. In this article, I’m going to apply this filter in practice and find out which cryptocurrency asset we should pay our attention to. I’ll note, I developed this filter by myself, but I’m not ruling out that one of the numerous books on trading may describe something similar.
So, I’d like to insert the disclaimer in the beginning that all the similarities with other authors’ tools in my previous and present posts are accidental.
I started testing this filter not that long ago and have applied it only to cryptocurrencies. Use of this filter in other markets is an open question. But, taking into account the basic rules and concepts of the market, it is likely to be of use at least in the stock market. The only limitation, I should mention in the beginning, is that the filter is appropriate for only long timeframes, starting from one day. Application of the filter to shorter timeframes won’t provide a fair view, as the cryptocurrencies moves inside a day can differ a lot due to intraday speculations of big traders.
So, let’s move on directly to the filter:
Step 1. Identify the market benchmark (trading instrument in the form of a large company – the leader of a market or a stock index that approximately reflect the market general trend).
To start using the filter, the first that you need is to identify the market benchmark; in the stock market it is, as a rule, a stock index. In the cryptocurrency market, the benchmarking indicator of the market general trend is Bitcoin.
Step 2. Mark in the Benchmark 1D chart the last four price lows with different colors.
Pay attention that the more recent is the level, the stronger it is, compared with the others. That is why, it is important to follow the lines’ order in the chart and their location relative to the ticker. Different colors will help you do it.
Step 3. Study the ticker location relative to the levels.
• Identify the ticker’s location relative to the last low (in our case, it is orange).
• Identify the location of the orange level, compared to the previous low.
• Identify the number of levels above the ticker and below it at the current moment.
In the chart above, you see:
1. The ticker is higher than the last low (orange level).
2. Orange level is lower than the previous low (green line).
3. There is one level above the ticker/there are three levels below the ticker.
Having found out these three items, we have made up so-called market profile that is of use by itself, as it helps us assess the general market situation.
I’ll explain on the items:
1. Breaking through the closest support level is a crucial event, as at this level, there all stop orders of the short-term and middle-term traders, and so, their working out means that the market is rather weak. If this level is broken out in the uptrend, it is one of the strong trend reversals signals.
2. The location of the last local low relative to the previous shows the stage of the trend development. If the last low is lower than the previous one, it means that the bearish trend is extending and vice versa, if the last low is higher than the previous one, it suggests that there are buyers and either a consolidation, or a bullish trend develops.
3. Levels above the ticker are the resistance levels, and the levels below the ticker are the support levels.
Therefore, the more levels are below the ticker and the fewer ones are above it, the more are the support levels, the more investors are confident and the more promising is the market.
Step 4. Identify the lows for the studied trading instrument (make the instrument profile).
I suggest EOSUSD pair as an example. We mark the lows according to same pattern as for the benchmark; the deviation mustn’t be more than 2-3 bars. If for the instrument you’re analyzing, the lows are where the benchmark’s highs are, there is a negative between the benchmark and this instrument, so, you can’t apply this filter to it
In our case, everything is all right.
Finally, we see the following situation:
1. The ticker is lower than its last low (orange level).
2. Orange level is higher than the previous low (green line).
3. There are two levels above the ticker/there are two levels below the ticker.
Step 5. Compare the instrument profile with the market profile.
Finally, there is the main step, the culmination, of our analysis.
Let’s compare EOS performance with the benchmark, Bitcoin.
It is quite easy.
Remember, for Bitcoin, it is like this:
1. The ticker is higher than the last low (orange level).
2. Orange level is lower than the previous low (green line).
3. There is one level above the ticker/there are three levels below the ticker.
and for EOS it is like this:
1. The ticker is lower than its last low (orange level).
2. Orange level is higher than the previous low (green line).
3. There are two levels above the ticker/there are two levels below the ticker.
The conclusion is the following:
1. BTC: the ticker is higher than the last low / EOS: the ticker is lower than the last low.
2. BTC: orange level is below the precious low / EOS: orange level is above the precious low
3. BTC: There is one level above the ticker/there are three levels below the ticker / EOS: There are two levels above the ticker/there are two levels below the ticker.
Therefore, EOS is behind Bitcoin in two points out of three, so we can conclude that EOS performs worse than the market, and is less promising than Bitcoin, in investment terms. With such comparative analysis, there can be situations when the analyzed instrument has the same number of advantages as the benchmark; if so, the last, third point is the most important to decide which asset is better.
If the number of the suggested advantages for the analyzed asset and the benchmark is the same, such asset is considered to be investment-worth and interesting for investors. Such analysis, of course, can’t be limited by a single instrument. To understand how bad is the situation of a certain asset. You need to analyze at least three or four assets in the same market segment (it is more convenient to present it like a table).
In the end, just in case, I’ll again note that this filter doesn’t provide any buy or sell signals for a certain asset. If EOS performs worse than the market, it doesn’t means that it won’t be able to surge in near future or even be ahead of the benchmark by its momentum. This filter is just a try to find out the fundamental situation for a certain instrument by means of technical analysis; it is more like a tool for long-term investing, rather than for short-term speculations.
Good luck and good profits!
Best regards,
Mikhail @Hyipov
PS. If you agree with the forecast write “+” in the comments, if you don’t agree, put “-”. If you liked the post, just write thank you, and don’t forget to share the post with your friends. It is easy for you and I will be very pleased :)
Stay informed on the latest cryptocurrency news, follow my posts in the blog.
Credibility filter for cryptocurrencies (part 1)I will find out how relevant and efficient the filter is and explain the main rules and regularities.
Today, it is going to be a quite unusual post, as I’d like to suggest an analysis of not a single altcoin, but about 90 percent of cryptocurrencies, which are now present in the market.
This idea was suggested by my yesterday’s comparative analysis of EOS and ETH (see here) and one of educational articles (see HLEMA strategy). It is based on superficial analysis of altcoins, compared with the cryptocurrency benchmark Bitcoin, and division the cryptocurrencies into two groups: investment-appealing coins and those that are not worth buying.
This analysis is very easy to conduct and I think it to be the crucial moment, especially for beginners, as they will be able to avoid the mistakes that may result in huge losses in future.
Well, let’s analyze altcoins in order to learn how to cut the risks of a wrong purchase/sale of a cryptocurrency asset.
I’ll start with a tricky question. What do Monero and Litecoin have in common?
I can say right away, there is no point in comparing the teams, block-sizes or the network congestion.
Look at Litecoin price chart:
Now – at Monero price chart:
If you compare these two charts above, the similarity is clear. But the most important, we should pay attention to, is the local lows, to be more precise, they location relative to each other.
You see, there four clear lows in the price charts of these two cryptocurrencies. The very first one is the local summer low (orange line), the next low is the April’s bottom (green line), the next is the price drop in February (blue line) and November 2017, when all cryptocurrencies were sleeping before the rally in spring (purple line).
You can change the lines’ colours, it is only important that you see and understand the picture.
So, as I’ve said, these two assets (Monero and Litecoin) have very similar price charts, but the main similarity, is the location of low in relation to each other. It is the order of lows in the chart that allows identifying investment prospects of an altcoin and including it a certain group of coins.
We have a kind of credibility filter for cryptocurrencies that is based on two simple trading laws, which, I hope, nobody has doubts in.
Law 1: a broken out support level always becomes the future resistance level; and the broken out resistance level will always be the support level in future.
Law 2: the better an asset seems, compared with the market, the more buyers are interested in this instrument; and vice versa, the worse the asset looks, the fewer buyers are interested in this instrument.
These two rules seem obvious. However, for those, who have just started trading cryptocurrency or any other financial instrument, I’ll give some explanation.
In Litecoin 1D chart, there is a descending movement (bearish trend) for LTCUSD.
As you see, Litecoin price broke through the summer support level and dropped below the orange line. From below, the price move is limited by the level that I’ve marked as the low of November, 2017 (purple line); it will be the support level for the price chart. Once the price approaches the level, it is likely to rebound and go up.
When the price rolls back, the law 1 works and the broken out orange level will turn into the resistance and won’t let the ticker easily move on (see green arrows).
The same will be if the ticker breaks through purple line, the support dated November. If so, the broken out level will create a strong barrier to the ticker when it tries to regain the positions and go back to the starting point.
Therefore, taking this law into account, I understand that the most interesting is the asset, whose price chart has the most numerous support levels below and the least numerous resistances above.
To study the second law in detail, you just need to understand a simple fundamental thing. The piece chart in the screen results from trading between buyers and sellers.
Many beginners, as wells as not beginners, often confuse the action with the result and say that the chart directs buyers and sellers...which completely wrong.
Here is BTCUSD one-day chart with its yearly history:
The same BTCUSD one-day chart, zoomed in:
If you mark the above levels in the BTCUSD price chart and analyze the ticker’s location, relative to the present key levels, you’ll see that the price hasn’t broken through the latest support level, emerged in June; moreover, the other support levels haven’t been broken through too.
It is clear that BTCUSD has just penetrated the spring, green, level, but hasn’t went on lower.
Now, look at LTCUSD one-day chart, zoomed in:
If you compare the BTC USD situation with that of LTC USD, you’ll see that the Litecoin cryptocurrency is performing worse than the market.
From the point of view of trading psychology, it means that buyers have little interest in Litecoin, and so, sellers, trying to sell the asset, according to the general market pressure, don’t find any demand for their Litecoins. It makes them reduce the sell prices (ask) until there is a buyer. As a result, there is the price drop in the chart.
This buyer weakness may result from many reasons; I enumerate the most common one below:
• No big traders for the asset (diversification of risks/portfolio, exiting the market, expecting a suitable price);
• Manipulations by big traders in order to press the market as low as possible, following the general trend;
• Fundamental and inside factors of the asset that make buyers cancel purchases/start selling.
Of course, it is not the complete list, but in any case, this situation doesn’t suggest anything positive, and so, the asset is bears little interest for investment, and one should avoid buying it.
That is all for today. Next time, I’ll go on describing the way to identify promising assets, in the investment terms. I’m going to mark the key levels for altcoins to Bitcoin and find out which one is really worth buying.
I wish you good luck and good profits!
PS. If you agree with the forecast write “+” in the comments, if you don’t agree, put “-”. If you liked the post, just write thank you, and don’t forget to share the post with your friends. It is easy for you and I will be very pleased :)
Stay informed on the latest cryptocurrency news, follow my posts in the blog.
Good luck and good profits!
Best regards,
Mikhail @Hyipov
BTCUSD $7948 23:59 UTC 'call'My call on April 17th 2018 of a $9849 short term high and the low of $5680 on the GDAX 1day is still valid from the multiple idea's I have listed here on Tradingview. I am basing the $5680 figure on market sentiment + my unorthodox charting (however it is true speculation on my part at this point).
I have been of the opinion that a hard fall for BTC was imminent so best to be patient, I am not only managing my $$ right now so I need to be extremely fiscally conservative.
selby_exchange
Finding creative patterns in charts on Tradingview!
Not advice for investing lol, but I am one to watch ;)
Sittin'... Watchin'... Waitin'... Wishin'...
$7820 at 00:01 UTC today 5/18$7820 at 00:01 UTC today 5/18
My call on April 17th 2018 of a $9849 short term high and the low of $5680 on the GDAX 1day is still valid from the multiple idea's I have listed here on Tradingview. I am basing the $5680 figure on market sentiment + my unorthodox charting (however it is true speculation on my part at this point).
I have been of the opinion that a hard fall for BTC was imminent so I have sat on the sideline from the beginning of May. I think I need more differing opinions right now to help me form a new strategy or patiently wait this one out... It's when I second guess myself I get screwed! so I am trying my best to be patient, I am not only managing my $$ right now so I need to be extremely fiscally conservative.
selby_exchange
Finding creative patterns in charts on Tradingview!
Not advice for investing lol, but I am one to watch ;)
Sittin'... Watchin'... Waitin'... Wishin'...
BTC/USD Bull & bear case Hello guys,
If Btc can breach 9200 that would give us a bullish signal with a initial target of 11500$ (25%) upside potential the R/R here is fantastic. Incase we dont breach 9200 i would be very very bearish and expect new lows this could also indicate that the tradingrange of the last 3 months is in distribution.
i will keep this idea updated.
- Rakim
