₦airaland Forum

afroxyz:
China's crackdown on Bitc0in has been happening for years.

The narrative has always been the same.

Yeah.... we know it's largely FUD... But how the market responds matters...
The market responds to whatever news it likes.... No need fighting it...
Same way we enjoyed the relentless good news on the rally to 60k, let's also tolerate the FUD now....

Levels I'm watching...
On eith... 1750, 1450, 1200
Link.... 15, 12.5
Ada.... 1, 0.8.... Ada has held 1 for so long.... Below 1, it could easily get dirty..

Betece.... If it dips below 30k, there's a potential for a bounce at 28-29k... Eitherway, if a dip happens, I'd only be interested in buying from 25k below or a reclaim of 30k if it doesn't dip to low 25k...
If things don't break, I'd wait for a reclaim of 33.5k -34k on betece

No rush... In such conditions, having free fiat is key

Doge monthly chart.... Chaos....

Betece rules this market... Know this and know peace

CryptoMatic:
The first inverted hammer(doji) is at resistance while the second is at support. Anyways anything can happen

Yeah.... if printed on support and price still holds structure after it, then that's a good thing... Otherwise, it could be disastrous... Personally, after such, I prefer to exit and see what price does....

The second one is at 35-36k the middle of the range. A downside even to 30k is 20% already...


Generally speaking, buying spot betece at low 30k isn't so much of a worry (for the long-term) even if price goes lower... Why I've been micromanaging my trade of late is simply cos I want to have good fiat if prices go below 30k to mid 20k.. If that happens, I'd buy, relax and leave the market for a while....

jedisco:
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.

On this....

Got my bids at 33500 (which was a daily support) filled yesterday... Level gave a good bounce before selling off..... Gladly, I had stops at 34.5k which were hit...

Currently chilling in fiat and waiting...... Have small low bids on ada and link
Personally, a fourth retest of 30k is not one I'm keen on. It looks like another capitulation is looming... At this stage, I think it's better it happens and we get over with this annoying PA.....

Another thing I noticed on the weekly betece chart on investing..com... The charts here end on Saturdays as against others which end on Sunday... I've found it helpful in giving another market view...
As attached, the weekly close last week wasn't a nice one... Reminded me of what happened at 64k....

jedisco:
I don't like the way most alyts are looking... Most are either below resistance against betece or hanging on to critical support on the usd pairs..... Except betece starts showing strength soon, looks like another capitulation is due for them....
On alyts, I'd tread carefully

Still think a capitulation hasn't occurred on alyts yet.... Structure on them has began to break but they're just about holding....

The current daily support level on eith (2000-2180) is one to watch... It's been a significant one far back as February. If eith loses that level in the coming days, alyts will tank....that level has been tested multiple times with smaller bounces each time. Also, the daily ema (yellow line) is still acting as resistance and pushing price into it.....

This is not me being bearish at support... But if trying to knife catch alyts, caution is important...

Ibime:
In comparison to BeTC, Sol, Matic, BNB and ADA are holding up well and are the only alts I will be trading outside BeTC.

Almost every other coin is following a straight downward trend in comparison.

Below is ETC daily chart. You can also see this trend in almost every other coin like X.RP, YFI and co - just a straight line downward with a steady gradient.

However when you check Sol, BNB, Matic, ADA, you don't have this straight-line down. You see stronger bounces when BeTC bounces etc after the initial dump. These coins had already been on massive rallies based on fundamentals before the big BeTC dump and it would seem they have more believers. They are also above the lows (on the daily candle close) they hit when BTC had its first slide. Whereas most other Alts are below their lows.

If BeTC recovers, they are likely to be the first alts to recover with BeTC.

Careful with matic, against betece, it's below the daily ema and though it's currently sitting on weekly support, the weekly structure doesn't look so good... If it loses the current weekly support, there's a good way down...

I don't like the way most alyts are looking... Most are either below resistance against betece or hanging on to critical support on the usd pairs..... Except betece starts showing strength soon, looks like another capitulation is due for them....
On alyts, I'd tread carefully

Chiagozieking:
How did you put that yellow ruler on your chart?

Binaz now allows some editing on their mobile charts...

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