₦airaland Forum

DenreleDave:
Thank u.. I have read the article and I understand..

But Pls do me this favor..


Where is the support level and where is the resistance level here?

If you're still starting out to identify support and resistance zones, doing that from ongoing PA isn't usually the best and your bias would overlap ehat you should see... It'd be better to look at past price action and see how price played around different levels then move that over to your current chart. Also, binance doesn't have the best formating... Good for quick stuff but trading view is better for as it has a clearer layout.



I've attached a weekly chart of betece which covers the span of a year in 2019...
Look at the following areas
6800, 7700, 8200, 8800, 9600, 10500 and see what price does when it gets above or below any of those areas

DieRich5:
betc will hit 34k

Perhaps... perhaps not... The market gives, we take

DenreleDave:
Sir jedisco or anyone that can help..


How can you know resistance, strong hold and support level in the crypto chart...?

Just help me with a diagram and mark it and if you possibly u can explain why It is recognized as support level or resistance?

https://www.investopedia.com/trading/support-and-resistance-basics/

This article might be of help...
Afterwards, you can post a weekly or daily chart of a coin (Betece or majors) for a given period and we work through the significant zones

IF any can help, I will appreciate

My first bid on betece was filled at 35,500..

2nd bid is at 33,500..... Below this without a bounce, I'd start getting weary

Alyts I'm looking at are Ada (attached).... An entry close to 1.2 which is the weekly support is one I'd take. Below this, the levels are 1.0 and 0.8...

Link is another... Currently Sitting at 20 which is support... An entry of 18 and 15 are one's I'd take...

Theta/betece is another I'm looking at (attached).... If it starts breaking out against betece, I'd look for an entry on the betece pair. i.e convert some of my betece into it

Bnb and eith also look relatively strong...
For now, I'm focused more on betece and only interested in alyts at significant levels.... Cos whatever they do now is based on betece.

jedisco:
Betece daily RSI has been on a downtrend since Jan.... Currently at the trendline of that downtrend...

2nd chart... Betece 4hrly chart.... Printed a concerning candle yesterday....

If in a betece, might be a good idea considering stops on positions and watching how the market develops....

Before and after....

The power of a reversal candle....
They don't workout everytime, but when they do, you don't want to be on the wrong side

This one everyone is buying the dip.... Hmmm...

Let it not be a potential nuke guys are buying oo..

What if after everyone buys the 35k 'dip' betece nukes to 25k

fusionchimera:
playing out already?


Really nice to short alts based on BTC

Yeah.... Patiently waiting....
Usually I don't short... But current market conditions will favour that woth alyts... Their dips will be exaggerated whenever betece pullsback...
I'm targeting some spot entries on them

Nezzjnr:
Exactly choices differ.

My aim is just to have a comfortable life... If I have anything doing in the Village... I know where to stay.

If anyone thinks that a man isn't successful because he hasn't erected a Mansion in the Village... That's the person biz

I agree...

Same also, those who build in the village are not financially ignorant or unexposed..... It's all about choice, perception and what people consider important

fusionchimera:
here’s my view., how would you trade this? PS ; scale inverted

Hehe...tricky one... Not a fan of inverse charts but they can be good in challenging ones bias.

From your chart, there are multiple wicks into 30k 'resistance' which shows that level is being respected... While 40k is support where price is.... I'd wager more on a 'bounce' off 40k to say 36k before a subsequent breach of the 40k level to form a higher low somewhere between 45-55k....

But then, generally with betece, I tend to keep things simple and not overthink it as betece will usually respect structure.... We've had a Monday/Tuesday rally.... If it dips to 36k between now and weekend, I'd be buyer and target around 45k or above... If it rallies from here, good and fine... I'd wait for another day...

On the other hand, I wouldn't be keen on bidding a 4th retest of 30k

fusionchimera:
i tend to believe though that Elon’s tweets about BTC and the markets in general isn’t just random
I’m 100 percent convinced elon (probably at the guidance of someone else) times tweets around certain levels to act as a catalyst to push into them, hes probably trading these and funding his projects . One hell of a guy!

He's sure one hell of a guy...
I don't think he's trading per se... The legal implications if things went 9ff would be massive... He seems to just be doing his stuff for fun...and also to prove a point...

Personally, I believe the market looks like it responds to his tweets when the underlying conditions are ripe...
For example, there are lots of times he tweets about doge that the market doesn't move...

Nezzjnr:
I wonder why people build houses everywhere.

The one I don't seem to get is why will you build house in the Village... Village that you get to visit once in 2 years or once in a year... Had this conversation with my Dad.. He said it's good so you won't be looking for a place to stay when you get to visit home

I told him that's why hotels were constructed

Again, prefernce and satisfaction... To some, it's also serves as type of investment....

The aim of some parents for their kids is to give them good training, education and perhaps a house in early years to give them that needed headstart in life.

Also, the aspect of building in the village is predominantly done in the South East... One needs to also understand the cultural aspect to this... To put it in perspective, It's like convincing a Muslim from the North not to go for Hajj (if he can afford it) but rather invest the money... It's not an advice he'd take.

First you have to consider the effects of the Civil war, subsequent riots and lessons learned afterwards. Also, you then consider the fact that a good number of those from the SE are far travelled and tend to acquire properties where they reside... If such system was not in place, it'd be more difficult to transfer wealth back to their abode and ultimately prosper their base...

I agree there tends to be some amount of ego involved... But that's just life...

Conversely, there can be an argument made that it may not be wise for a young man/lady to focus on building a big villa house before setting up something reasonable where he/she resides... Moreso something he can sell for profit or rent if financial difficulties arise...But as folks get older and attain middle age, its worth thinking about their base and origin...

From a cultural point of view, it's a policy that should be sustained.... Like they say, it's when money gets home that you know who has it....


P.s... similar sytems were present in most civilizations... When the Brits came to Africa, profits made were sent back to their home and not used to build mansions in Africa...

stevemims:
Of course bro! As for me, contentment is as important as satisfaction. Although, we can't take away the fact that as humans we all have taste and preference, at the end of the day, what matters is developing a model that works for you as a person.

Btw, I read somewhere that Elon is planning to sell his last home ... I guess that works for him.

https://www.businessinsider.com/elon-musk-house-sale-selling-california-mars-colony-spacex-2021-6

Definitely... There's no almighty formula to life... Having a balance is important... That's where balancing contentment, satisfaction and what one can reasonably afford comes into play....

Elon is a different kind of guy..a genuis I'd add.... I see him as one of those people who just want to live life for what it is and impact the world around him...

Of course, he knows he's unlikely to ever be poor and the guy is now focused on chasing his dreams.. similar to Bill Gates and his polio and give back initiative

Nezzjnr:
By the way does owning a Big car amounts to someone being Wealthy.

I've seen some people who are always cruising in exotic cars running into some serious debts.

Of course, owning an expensive car doesn't make someone wealthy... That's where balance comes into play...

The perception about cars in Nigeria is largely varied.. but most times towards two extremes.....a good number would see it as a unnecessary luxury. Personally, I disagree with that when it's affordable for the person buying... We see families of 4 hoping on okada or keke eith all the risks... If they can sensibly afford a vehicle why not....

I remember when I bought my first vehicle years back...a lot of remarks were behind my back about how the young man no get sense or how I for don use the money to invest or how I wanted to use the car to chase ladies... Funnily and unknown to most, I had even delayed buying the car initially to purchase some landed property. Looking back after some years, buying the car first would have been a smarter move as it'd have enabled me make more progress in other areas..... In summary, there's no fixed rule to life

nna777:
Am looking to start playing Btc again. Looks like 30k is the bottom for now. Waiting for any major dip.

Good chance 30k is the local bottom... But there's also good resistance in upper 40's

smokey12345:
if one has a capital you want to tie down for like 2 years lets say $5000 what and what crypt0 do you think one can buy that will really worth it

If you want to grow your 5kusd to say 10k usd, then it's worth trading like those who already have 10k usd...and not necessarily like someone hoping to convert 1 dollar into 10k dolls overnight

Just like moat fast moving market, making money in crypt0 is easy, keeping it is the hard part..


If I was getting into the market now, I'd have at least 75% in betece and rest well... Later when the market is ripe, I'd ladder into majors like Ada, eith, xrp, bnb

Florencejames:
Good morning please I have some luno funds I would like to sell off
Who will buy?

Why not tranfer to an exchange that has p2p such as Bundle or Binaz and sell in peace

fusionchimera:
on the 4hr is a flag pattern and with the volume the down movement seems to be absorbed and will probably make a one time move to liquidate some late longs for a movement down. For now I’m a bit bullish unless Elon comes again

Lol @Elon.... He's getting popular by the day... Let's see what PA gives

stevemims:

To me, this doesn't necessarily make him more prudent or a better investor than another rich chap who lives in a more expensive house...

In life, there's the concept of satisfaction... People will spend money on things they consider important...be it art, houses, charity, religion e.t.c.... What's good is having a sustainable balance...
Also, everyone will look at things differently as they have different things they consider important.

Some people who earn less live in bigger houses that they're proud of and worked all their lives to buy. Also, some would give up on a bigger house so they can go on regular exquisite holidays with family or perhaps donate to a charity or religious body.... it's all about choice...

Betece daily RSI has been on a downtrend since Jan.... Currently at the trendline of that downtrend...

2nd chart... Betece 4hrly chart.... Printed a concerning candle yesterday....

If in a betece, might be a good idea considering stops on positions and watching how the market develops....

Smithwilliams826:
Instead of me re-mentioning coins, I will help you with a YouTube video.

Perhaps, but I doubt it'd be of any need....

I also trade alyts and trade them heavy.... At certain times, I prefer to trade certain alyts... Sometimes, I just stick mainly to betece or alyts that are doing better than betece....

Smithwilliams826:
let's not lead ourselves to argument.
As long as I know for myself investing in betece will only give you that amount. I can't invest in betece. If I dey fine x2-×4 of my investment, i fit go invest am for farming business.
Everyone has his or her choices bro. Pls, let's close the topic.

To each one his choice....

Ibime:
I actually withdrew most of my cash in Etoro into bank account in the process of transferring to Bïnance when this pump happened

Hehe....

It's one thing to have cash on an exchange and another to buy...

Someone can place bids at say 21k, and when price hits 24k, the person will pull their bids and now start hoping for a retrace back if price pumps...

It's never easy buying a dip especially when the market is overwhelmingly fearful.... Sometimes, one just has to stick to their conviction and silence the crowd....

Finally, it can also be a fine line between buying the right dip and avoiding catching falling knives do price doesn't nuke your bids

Sysdatek:
Buying big coins is a game of huge capital
If someone comes to crypto with 2kusd and your advising the person to buy btc
Small funds. Should chase low cap cheap coins with potential

And that's how most end up losing in the long-term....

Ask your self why low cap coins are low cap

Smithwilliams826:
Purchasing betc will only give you from ×2-×4 of your investment. Theirs are other coins that can give you more than that.

Interesting you call an x2-x4 only......
What other investment vehicle does that....

Even if one is trading smaller sums but wants to make money, part of that is looking at how those with size in the market trade....

I'm not pro betece or pro alyts, I tend to benefit from both but I avoid fighting the market

Ibime:
Meaning say you still dey stables. We are in the same boat and hoping for the same thing. I dey your back boss

Hehe.... We no dey dsame boat ooo....

You no ready to buy.... Even if betece dipped to 20k, you for no buy...

DieRich5:
I tire, I just buy small incase but I'm still waiting Sha for 280

Not so keen on alyts yet.... They look weak and I think a better opportunity will come when betece dips....

Alyts don't do well when betece starts approaching resistance

edward2018:
..

Nice thread... Can you share updates?

For those still on the sidelines being tempted to FOMO....
The market runs 24/7, there'd always be another trade....

Betece may have pumped, but whether bull or bear, buying betece on a day it's pumped 12% is not usually a good idea....

I'm hoping betece settles, and hopefully gives alyts some room to rally in the next few days.... before draining them again....... That and a betece dip is what I'm waiting for...

DieRich5:
I just added some BNB ......Been waiting for BNB at 280

Hehehe....
From waiting to FOMO

fusionchimera:
some divergence playing out there

Very strong divergence.... Which as usual tricked majority....

Interesting how people (incl me) are now hoping for betece to dip so they can add.... This market no easy...

OpenHeaven2019:
How do think this week would go?

I think we are due to break 40k.

Fibonacci time sequence below looks scary for the coming week. I say we see more upsides.

On the mid term looking at below images, 60k would not be the top.

30k - 34k has held strong for 4 weeks in a row, some upside to test resistance is expected....

Also, the daily close yesterday broke out of a downtrend PA has been on since the selloff.... I'd be targeting the retest of this trendline to scale in... Also, this area (37.5k ish) coincides with previous resistance... A successful flip of this area should take price above 40k...

What's interesting, is that after the initial selloff, the daily RSI has continued to make higher highs with price making lower/equal lows... Clear bullish divergence which is now playing out.

60k is unlikely to be the top of this cycle... But I think calls for 60k now are too premature.... The cycle can extend well into next year before it tops...but the then, price may not get above 60k for several months and I'm not worried about that...


What I think would determine how quickly this cycle moves is what happens after a rejection on this rally.... If price rallies to say 50k, rejects and can still maintain 34k support, then a healthy upside consolidation will ensue.... If it rejects and makes a lower low below 30k, then it'd be a slow one...