₦airaland Forum

nna777:
Still hodln my Betc position @ 33k 7. So many factors might not see us go below 40k except the bill blows over. The short squeeze comes to mind. We seems now to have left the fear range and we are now in the greed range. Some form of confidence has been restored to the market.

Yeah, there's incresed confidence in the market but crypt0 is quite volatile and sentiment can change quickly.....
The last support bitc0in tested was at 30k... Sooner or later, there'd be a rejection and I'd be keen to see where it bounces off.. till then, I'd take it level by level

On the daily, the hash ribbon has printed a buy signal for betece which is the fist this year.... This is quite an accurate indicator... All the same, no indicator is 100% accurate

I remember buying after the last capitulation. Rather, I should have rather waited for a buy signal to print...

It's is a HTF indicator and doesn't mean bitc0in will rally tomorrow...
For the immediate future, I'm still taking things level by level.... Have stops on my betece spot and will look to shave part if it rallies to 50k or even 45k if it starts showing signs of weakness... All said, below 36k is looking like a good spot for a long-term buy

Theta has been quiet over the last few days after the initial pump....
It's one ive been watching...

Currently, it seems to be making a bullflag while consolidating under resistance and preparing for a final rally from the lows.....7-7.2 is the resistance to take... Target would be 9-10

Usually, I'd have taken this trade but not yet as I'm a bit cautious as betece is at 45-46k resistance..... A betece pullback will obviously ruin most alyt set-up..

The second chart is the daily... It's well abv the daily ema... If it remains at this range over the next few days, then the support would push up to meet price which would give more confluence

Ibime:
Nothing can take me near LTC again..Waited a good three months to pump from February to May and it was just laggardly. LTC and XLM, two coins I will always avoid.

Hehe.... It's really been disappointing.... Getting stuck with such coyns when betece retraces is even more annoying

jedisco:
I like it when bitc0in and alyts pump in unison... It's much easier to identify and trade levels that way


Not trading this as ltc has been a mess of late... But for it, the next major resistance is at 180...
Lite usually likes to flip levels after taking them.... If it comes back to flip 150 and I see a good bounce, I might be tempted...

Another is link... Got into this earlier and still in it... On a flip of 25, next targets would be 27 and 30

On the 4hrly ltc/usd chart, I'd take this as a flip of 150...... Took a small position there but I'm more about what betece is doing as betece can easily ruin this setup... But given eith has rallied, I'd usually expect ltc to drag on..... Most times, when ltc gets to resistance, betece then retraces

Against betece (2nd), its been disappointing for a while... But it's llooking like it could push up fa lil from here... I'd watch the daily close on it...

Greenery everywhere....Feels good to be up in usd and betece...
On green days like this, I've learned to marshall out where to take profits not open new positions...

Mumben:
@jedisco, which app or site do u use for ur charts?

Trading view, binaz, and investing (dot)com crypt0 app

Ibime:
How come you place multiple orders at the same price. Is it to ensure at least one or two get filled? I've had one or two occasions of orders not getting filled.

Its a single order... But it wasn't filled at once

Ibime:
Boss what stage of the market do you think we are now. What levels for BTC would turn you super bullish, or are you still in swing mode? Some are saying we are in altcoin season but I'm yet to have that confidence until BTC recaptures the 200 day EMA. I am fully in FIAT now having played my last swings on ADA and XRP last week. Market did not come down enough for me to gain reentry. I look forward to your thoughts before I go FOMOing and the thing bite me.

Its difficult to say... I'm tilted more towards consolidation for a stronger rally towards year end.. But I'm not getting my hopes up... I'm playing what I see until betece clears 60k.....

For all intents, this might just be a relief rally than would role over to form a lower low.... Currently, I'm interested in what level this pump will get rejected and if bitc0in can forn a higher low then

Generally, bitc0in would respect market structure more than it does respect moving averages moreso at the extremes of a trend.... I've found most we more useful in an established trend...

At 30k, bitc0in was over 50% down from the highs, market was fearful, it was quite clear that 30k was closer to the bottom than it was to the top.... Even if bitc0in lost 30k, there was 25k and 20k which would have been harder to crack...

I don't know where the 200d ema is, but the issue is that by the time bitc0in claims it, price might be too vlose to resistance territory... Also, it may not hold following a proper rejection from 50 or 60k...

2funkyy:
Wouldn't it be the best option to just put money in savings ? Since guaranteed capital is what you want.

If I wanted guaranteed capital, I'd only be in treasury bills, stake stable coyns or even leave my money in the bank...

The crypt0 market is volatile...and volatility goes both ways.. one can lose big or win big... Protecting my capital is not same as guaranteeing it.

Ibime:
Boss what stage of the market do you think we are now. What levels for BTC would turn you super bullish, or are you still in swing mode? Some are saying we are in altcoin season but I'm yet to have that confidence until BTC recaptures the 200 day EMA. I am fully in FIAT now having played my last swings on ADA and XRP last week. Market did not come down enough for me to gain reentry. I look forward to your thoughts before I go FOMOing and the thing bite me.

...

I like it when bitc0in and alyts pump in unison... It's much easier to identify and trade levels that way


Not trading this as ltc has been a mess of late... But for it, the next major resistance is at 180...
Lite usually likes to flip levels after taking them.... If it comes back to flip 150 and I see a good bounce, I might be tempted...

Another is link... Got into this earlier and still in it... On a flip of 25, next targets would be 27 and 30

With betece getting closer to 45-46k, I'm not too keen on alyt trades yet ...

One I'm watching is xrp... It's had an initial pump and battling resistance between 0.8-0.84... if it breaks out and flips 0.8, a rally to 1 should ideally come quickly..

I'd look to add to my initial position if that happens

Structure wise, shib is a coyn I think its due a good pump.... Never traded this coin but just based on structure

The first chart shows the monthly structure and good structure being built...

Not in it yet for 2 reasons...
1. Dont like buying alyts on a green betece day
2. Its yet to claim the daily support.... I'd want it to finish its current pump, and come back to flip that support b4 taking position... Would keep an eye on this

Good to see icp pump...
I've tracked it for a while and all its done is to selloff.. I believe it listed at the wrong time...just before betece restrace
Few days back, it claimed the daily support with a bullish candle close (pictured)... So I got in.... Almost cut it when it dipped below support and started looking like a fakeout...
Wanted to share here but decided not to as icp is still a relatively new coin....
It's difficult to say how far up this can go... But I believe it pumps good given the suppression its had... Targeting 100 on this with some hiccups around 68.... But ready to take profits once I see weakness... Of course, stops are in good profit

jedisco:
Another coin I've come to trade more of recent is sol....

The usd chart is quite clear... Levels are distinct

Against betece (2nd), it's held up its structure quite well and had a stong finish

The next real resistance with this is about 42.. but I cut half at 40 as I generally like to take profits at whole numbers...

A retest of 35 or 31 would be gladly appreciated.

jedisco:
Another coin I've been watching is uni...
Its one of the relatively new coyns (alongside aave, ksm, dot).
Throughout this drop, it held up its usd value relatively well. Got into a small position earlier on at 20usd... Hoping to ride it to 25-30...

Against betece, it's held support so far. This should serve as a fulcrum to push it up if it continues to hold....

Back to coyns...

Still hoping to squeeze 30 dols outta this... Eitherway, I've upped my stops... Looking to see if it can flip 25

nna777:
Mheen!!! As if we had a one on one discussion today. After the dip, I just staked my Ada n Matic as well as provided liquidity under the liquidity pool.

I haven't come here to encourage people to do same yet as I wanted to understand both at least for a 3 month period so as not to mislead people. So far so good.

Staking is basic (self explanatory). You lock your coins depending on what is available (30, 60 or 90 days) at a certain %. Once the days are over, you get your coins back plus additionals based on the percentage.

Yeah... A good number of times I just do the flexible ones where I can pullout when I want... The interest isn't as much... But its good money when I convert to naira... Moreso, it's money made by doing nothing

Finally, regarding protecting profits, I always aim to have some fiat at most times....

Nothing is fixed and sometimes, one has to join a moving bus...
But my ideal situation would be to divide my portfolio into 5 parts...
One part is likely to remain mainly in cash except in extremes...

The remaining four parts is split between selected coyns...

Once I sell a coyn for profit, part of that profit is moved out...... Or locked in savings or staked... No matter what (except in extremes), new capital would not be deployed on a crazy green day... I'd rather deploy it at majors on a red (on support) on a red week

I trade size and I'm not in a hurry to multiply my account size... I'm more interested in protecting my capital..
I already know how much capital I've deployed... When I move a good chunk all out in profit, I can then start looking at how to multiply the rest..

Like I say, na my plan be this

Generally, I believe one doesn't necessarily need to know charts to trade crypt0 successfully... In crypt0, making money is not difficult, keeping it is the hard part.

Certain principles rule this market..
one is knowing that no body can time the top or bottom... Hence the need to average in...
Second is knowing that the market ALWAYS has a way of tricking the majority at the extremes of a trend....hence the need to plan b4 hand...
Third is knowing that the market is volatile hence no need to fomo...
Fourth is that one is more likely to make and keep money trading fewer coins hence I don't spread myself thin
Another is that betece and eith (to a smaller extent) rule this market... I use them as my bench mark... I don't go around fighting a market I cannot control.



I'd explain certain things that saved me during the last selloff..
After experiencing previous bitc0in rallies, experience has taught me how brutal the market can be when it turns...and there's no guarantee of not being caught offside... The good thing is that an alyt run gives one enough time to make money... Hence, as far back as January when PDOT pumped from 4 to 20, I had started locking in profits into less fluid or volatile assets... As the market wore on, most of what I was trading was profits I made...
Those here know I mistimed the selloff averaging in a bit early (funny enough, I even deployed some new fiat)... But when all the dust settled, the only ish was that I gave back some profits to the market... Not whether I was at loss or not... It was the profits I had locked in that I deployed slowly during the dip......

The problem with keeping raw usdt on exchanges is first security and the fact that one can be carried away by greed/euphoria to make wrong decisions...

I trade multiple markets... I've said it multiple times that I have no problem keeping treasury bills for 1 year at 10%. The only reason I liquidated my treasury bill was cos of the devaluation of the naira... I have never seen anyone who's target was 10% pa who had problems trading crypt0...

Bitc0in tends to make 2-3 strong moves every year... It's on these moves that most money is made or lost.

Sometimes, I lock in profits into gold, certain slow moving stocks or real estate... So when crypt0 nukes, I recycle those profits....

My point is simple.... There's a good chance bitc0in might go on another rally towards the end of year or next year... I have started planning already how to progressively lock in profits...so that when the market nukes (it definitely would), I wouldn't be blame China...

I'd share final thoughts on this in the next post

Still on planning trades...

I don't know how many people have visited the 'services' page on binaz (for those who trade there)

For those who trade long-term, rather than hold coins in spot, it might be worth looking out for staking or saving options... I like the options there cos it suits my macro trading pattern....
If you're worried about your coin pumping when its locked, then there are flexible options with lower rates...

Worse case scenario, the interest would pay for the transaction fee when you want to sell the coyn...

The con to this is that you have to take your coyns off the market to benefit...i.e, if you set a stop loss or sell price, you cant use that coyn.... Sometimes, I prefer to set my sell price nd go to sleep... ..

People need to understand that crypt0 is large enough to contain all ideas... I don't necessarily get annoyed when people counter my ideas.. There are thousands of folks gere and it'd be wrong for everyone to think same way.. What gets me triggered is when folks attacking are not showing a sensible alternative... Like I say, if you have a way to navigate the market, share let us learn.

Most of the stuff I learned in crypt0 were from folks who had opposite thoughts that I had at the time... Infact, if I'm bearish on betece, I have to weigh up the bullish argument to be comfortable in my decision...

I've said it multiple times here that there's no crystal ball anywhere... There's no free money in crypt0... Plan your trades and trade your plan.

KaluwisxPRO:
IMO you are doing too much in Crypt0. The market does not care about fundamentals when it comes to crypt0, this is why a lot of you guys gets burned.

This is not US stock where there are regulated traders. Right now, the market is being pushed by mere FOMO, and it’s all on the bandwagon of BTc at the moment. DEFI on the other hand is the only sphere of crypto that is seeing organic growth because of the continuous development of the protocol to adopt more traditional banking activities into Defi.

First crypt0 is a relatively new and largely unregulated market... The first thing folks need to understand is that there's no free money anywhere.... I personally believe one doesn't have to be able to read charts to navigate the market successfully. There is no crystal ball anywhere where people see the future of the market..

Secondly, crypt0 is an over 1trillion dollar market... Markets that big move due to certain factors. What I share is how I navigate the market

I do not make predictions all I do is share thoughts on the market. There are parts of crypt0 that I have not ventured into in ages...the market is wide enough to contain everyone... If you have alternative thoughts, then share them so we can all learn.

Ada/eith... My downright favourite alyt combo to trade...

The more I look at the weekly chart, the more it looks like I was caught on the wrong side of things by holding ada.....
Though its at support now, it's looking more likely that ada will dip to 0.04 support again eith... Thats about a 20% drop in valuation from where it is now at 0.049

On the other hand, eith is approaching resistance at 3k in usd.... Not keen on swapping my ada to eith at this juncture....

Looks like I've missed the boat on this... I might just use a stop loss instead

Doge is another one that I liked... I stopped trading it since it started looking messy against betece.... No regrets so far....

The weekly chart no be am... We all know doge can pump out of no where... But until it does, I'm happy to look elsewhere....

Might be wrong on this, but it all lines up with me not expecting crazy alyt parabolic moves just yet... I'd prefer to a more structured approach until things clear out

jedisco:
BTC still largely within range... Dipped from 42k and looked to have flipped the 21 day ema.
I was rather looking for a drop to the midrange around 35-36k to enter new positions... That didn't happen so I let it be.

Looking at the bigger picture... A good number of factors seem to point towards this betece cycle having a double rally... If that happens then end of yr/early next yr should be exciting...... For now, below 36k would be a zone I'd want to average into the market

Still on this... If betece goes on to have a second rally this cycle i.e break 60k... Then lessons learned from the first rally should prove useful to the second...

Crypt0 flows in cycles and generally repeats itself....

I've progressively pushed down certain coins down my radar... If a coyn did not show good strength the first time, I wouldn't be holding on to it too long...this goes for coyns like LTC... I'd still be watching them but I'd be more cautious...

Another is the amount of coyns held.... Folks generally do better when they hold fewer coyns...

I'm guessing alot of people who came in early months of this year and saw alyts going parabolic may be carried away hoping for a repeat... Personally, I think that's unlikely to happen until betece is well in price discovery....

In essence, what I'm saying is this...In trading this market, we all make mistakes... But If the market gives another opportunity, let's put the experience of the first to conquer the second

OpenHeaven2019:
Everybody loves SOL

Ada and eith are traditionally my fav alyts...
Funnily, I've not traded eith for a while....

But sol has caught my attention of recent... It bounces well and levels are clear

jedisco:
Bnb/betece is another one that looks to be forming a descending triangle...

Although, I'm still in a small usd position on this which I got in at 300... if this confirms and begins to breakdown between the next 1-2 weeks, then I wouldn't trade bnb for a while until it gets to the next level of interest at 4600 sats which is quite a drop....

Overall, if an alyt isn't looking good against betece, then I'm better off in betece until the coast clears

On bnb...
Against betece, it had a good last day pushup and close above support... I'd watch this to see how it develops over the next few weeks...

Against usd (2nd), it looks like it wants 400. But then, its still struggling with the 330-340 region.... A flip of this level should bring a rally to 400...

That said, I just bumped up my stops across all my alyt positions... Most are in profit... If things dip, I want to have enough dry powder... If they don't dip, I'd take profit at resistance

Another coin I've been watching is uni...
Its one of the relatively new coyns (alongside aave, ksm, dot).
Throughout this drop, it held up its usd value relatively well. Got into a small position earlier on at 20usd... Hoping to ride it to 25-30...

Against betece, it's held support so far. This should serve as a fulcrum to push it up if it continues to hold....

Another coin I've come to trade more of recent is sol....

The usd chart is quite clear... Levels are distinct

Against betece (2nd), it's held up its structure quite well and had a stong finish

jedisco:
Ada... One of my favourite coyns hasn't kept up as much recently...

Against betece (pictured), it broke down from a descending triangle and is currently at a weekly support...
Against betece, I'd be aiming for somewhere between 2900-3000 sats... It's a tricky one as betece is now approaching some significant resistance zones, so I'd play it depending on what betece is doing.

I'd also be looking at the weekly close tomorrow as it's currently below the weekly ema support. It hasn't closed below this since January.... A close below would make me apply caution

Not a bad weekly close... Dipped to 3000 before a bounce and finish above support... Currently in the middle of no where...
I'd rather trade this ada usd than betece...

Eith looks to be the stronger alyt now.... Generally, eith/ada tend to alternate their rallies and pullbacks... I.e when one is doing well, the other is calm...


With alyts now, I still believe its worth applying good caution when trading them as betece is still playing around.... Levels on most majors are clear as these levels have been traded recently. I tend to keep things simple, trade the levels and take profit at resistance and buy support (preferably on a red day)

jedisco:
Levels on betece are quite clear....
Major support/resistance zones are at 30k, 40k, 50k, 60k....
Around the midrange of these zones are also smaller areas of resistance...i.e 35- 36k, 46k, 55k...

The 46k level is an area of interest as it was also the point of the last breakdown

BTC still largely within range... Dipped from 42k and looked to have flipped the 21 day ema.
I was rather looking for a drop to the midrange around 35-36k to enter new positions... That didn't happen so I let it be.

Looking at the bigger picture... A good number of factors seem to point towards this betece cycle having a double rally... If that happens then end of yr/early next yr should be exciting...... For now, below 36k would be a zone I'd want to average into the market