₦airaland Forum

jedisco:
I started building a new medium term position on xrp during this dip... Got some at 1.26...

It's been cooling off for a while and with xlm showing strength, wouldn't ve surprised it picks up in the coming weeks... Another major I'm looking at is link and xtz...

Also, the dot/uni/aave/ksm group which rallied in January/Feb this year and have been ranging since seem to have started picking up

Glad I got into this position... It looks to be revving it's cylinders.... Hopefully, it doesn't collapse under the Betece pressure.... Once betece settles, it should make a runner...

Almajirihunter:
Thanks for this.

Added to initial post

People fail to understand that it's easier for betece to dump on a day everyone thinks its bullish and going to the moon e.g at when it was 62k than on a day when the overwhelming majority thinks it's bearish and going to nuke.....
This market does not reward fear.

Mizwalterz:
"don't sell at loss..."

this statement has taken my portfolio from 40k to 18k. when it was 30k, i asked for suggestions, the only think I heard was "don't sell at loss".

I still dey Ooooh, EPS still dey dip oo.

should I buy the dip?

EPS is a coyn that has been listed for less than 8 weeks.... Ideally, one should wait for such coyns to selloff before going close...

Portfolio allocation, is an important aspect of risk management... If you don't want to buy betece, then sensibly own some majors that'd maintain structure during dips... They have less volatility and nay not pump as much but you're more likely to leave this space with profits than randomly chasing new coyns..

One thing you should remember is that every rally comes with it's new coyns... The new coyns that did well this rally would be lost the next as folls would move on... It's the major caps you're likely to hold even in dips cos you're sure it'd bounce back in time

Almajirihunter:
Contemplating putting $1000 into betec now lol, wise choice? Can see it’s on an upward trend, any advice

I don't gie advice on when to buy coins...

But my best trades in this space were days like this when I woke and the sentiment was overwhelmingly bearish (with everyone feeling the market is going much lower) and I averaged into bitc0in... (E.g 44.5k, 42.5k, 40.5k)
Almost always, 2-3 weeks down the line, I looked like a genius.... On betece it's easier cos at this stage, even if the market continues dipping, It'd very likely comeback to retest this level in few weeks...

Another advantage of buying such dips and is that when stuff reverses and those who were scared now FOMO into pupms and start telling how things are going to the moon, you'd smile, be level headed and take profits cos you bought a dip and know things don't go up in a straight line...

It's interesting how same thing keeps happening in this market over and over again and yet people react thesame way anytime it happens...

Let me draw our attention to the weekly RSI so people can appreciate where we are in the market... First RSI shows momentum in the market... Mostly likened to buying/selling pressure.... When it's oversold, it means folks are selling more.


I've attached the weekly RSI which spans over the last 6 years... Generally, the midrange (around 50-56) acts as support in a bull market amd as resistance in a bear market...

The point I'm making is simple... If you're sh*tying your pants on this, you're better off packing your load when there's a relief rally and leaving crypt0...
The RSI will definitely dip into oversold territory one day and would remain there for months (of course there'd always be a narrative).... Thesame euphoria we witnessed over the past months will be replaced by proper FUD....

Folks are already asking a bear market and I'm smiling... In a bear market, the FUD is x10 of what we have now, it's unrelenting and unforgivable..... It's easy to say I'd buy the blood during a rally, it's another to really buy it when it comes

It's interesting how this space has grown.. I've not yet seen anyone who's traded crypt0 over 1 year that's calling dooms day on this.... Even if it dips much lower folks have seen worse and they know stuff will still rebound..

jedisco:
Came down, cleared the whole range and more importantly, retested the 21 day ema

It took a while but after 9 months and lots of waiting, bitc0in finally revisits the 21 ema, unfortunately didn't have as enough to load up as I had wanted... I'm taking some profits on the rally up to reload at the lows if it revisits again

It's at these levels that on betece (in a bull market) I can buy, go to bed and forget what the market does in the short-term....

Generally, bitc0in does not rally without fomo and never sellsoff without FUD... It's either one trades to buy fud and sell fomo or buys fomo and sells fud

Update on this.....

It's called respecting a level.... Bulls are lurking

Two other things I see.....
1. Two wicks on the weekly charts to around 43k (blue arrows)... This selloff didn't takeout the previous wick... Further makes me think perhaps one more capitulation dip to take out liquidity on both levels...

2. A pattern that looks like a 'head and shoulder pattern' on the weekly... That'd be a bearish one if it breaks down... Personally, I'm not so bothered about it... There's also a bullish case and patterns should be played only on confirmation

Ibime:
EOS at 9.71 and LTC at 291

No wahala... Hopefully, the week brings good news

Ibime:
I didn't buy BeeTee, I bought LTC and EOS and dipped.out at 3% reversion

Ok... But at what rate did you sell?

Just curious

Ibime:
Top at $20k last bullrun. This run has been propelled by institutions right from PayPal announcement to Square investment to Michael Sailors group.



Some may be, but you have to question where they expect their returns to come from. They are handling other people's money who expect returns at the end of the day. This was a coin that struggled to surpass $60k with all the institutional investment and Elon driving it. They have to be wary at what their returns will be from this stage.



The last bullrun took two weeks to come to an end from Dec 31st 2017 to Jan 18th 2018. Stuff won't just drop overnight. We maybe in a 30% correction or we may have topped, na to play am with caution. I have even closed the positions I opened earlier today. Let me go back to Siddon look mode till I see a return of confidence.

As things stand, I only have two meme shitcoins coins I'm holding and I'm just waiting for a coin I invested in presale to IDO in two weeks. The listing price of the coin I bought on IDO should yield me about 2 BTC. I'm praying bullrun isn't over and IDO goes through with no hitches

My brother you know at 60k, Bitc0in still has about the highest ROI among investments of the past decade......
People are used to bitc0in always on the move.. sometimes, it just ranges. Last year, bitc0in spent 6-8 weeks in a very narrow range between 9k and 9.4k... it's about a trillion dollar industry now, rapid movements will take time... The expansion we're enjoying as this bullrun was cooked in almost 3 years of proper consolidation... Many folks came in after 20k and are used to bitc0in only going up... This time last year, virtually no one would have envisaged a 60k bitc0in in February this year...

One thing you're very right about is always being cautious in buying... whether dips or rallies....

Out of curiosity, at what price did you sell?

DigitalMallam:
I waited this long before giving crypt0 a trial, and it didn't pay me in the end. I tested with profit from other investment so my loss isn't major, but I am hearing news some folks might just commit suicide before daybreak tomorrow. I've always been skeptical about the whole digital coyn, there's really no fundamental behind it, no regulations. A mere tweet from moneybags or celebrity can swing the price

Hehe... What coyn did you buy?
2ndly... Did you think the market only goes in one direction?

The fear is getting palpable...

Ibime:
Remember the story of Icarus who flew and flew higher and higher till he reached the sun and his wings melted? Collapse always comes at the height of achievement. There is always fud that can be overcome eg 5% of Ethereum got hacked and stolen in 2017 causing the hard fork, yet the market pressed on after 3 months cool off.

But a big fud that causes major institutional players to stop offering BeeTee as an investment will be the one to end it. That could be via regulation, a major hack or slow spreading of fear as price goes down eg if selloffs continue from Elons tweet. Put yourself in the shoes of an Investment bank desk knowing this thing only goes up when new entrants buy, and knowing that Elons fud will deter new institutional entrants with enough money to move the market. That investment desk may already be 50% up on their investment which is already unbelievable returns for them and now may be the time to take profits. Those guys no dey look face.

In essence, we should play this with caution. The more price keeps going down, the more likely a bearish scenario starts to become.

In my view, the next bull cycle may not be led by BeeTee. I always think that when Institutions pump something and ruin it, it never comes back. 2011 cycle was led by Devs and miners, 2014 by devs and retail, 2017 by retail. This is the first bull cycle to be led by Institutions and it may be the last. If we enter a long bear, don't be surprised to see a Defi solution as the one to lead the next bull market, and BeeTee relevance begin to fade.

Crypt0 space is still relatively new... lot's of possibilities into the future...lets see how it goes...

You're right in buying dips with caution to avoid catching a falling knife... That's why it's sensible to buy in stages or close to support zones and not all at once... One can always add on confirmation... But same way, we should exercise more caution in buying green....


But quick question....
What was betece's performance before institutions came along?

Secondly, do you really think big money isn't layering into this dip?..... If no one was buying, it'd have dipped to 20k already.... As brutal as the capitulation to 4k last year was it was guzzled up..... People underestimate how far this space has come

P.s... it's always interesting how quickly narratives in crypt0 change... It can switch from really bullish to proper bearish in hours...

jedisco:
My decision to take profits off Ada and xlm wasn't a bad one....

I will be bidding their 4hr support...

Talking about the 4hr 21 ema support, most majors use this support as a bounce off region when they begin an uptrend. I use that to know when to sell and time re-ntries to compound profits and guage when the rally has began to show weakness..

The first chart is the 4hr chart of eith which I shared a while back. After clearing 2k a while back (blue price line) and beginning an uptrend, It kept bouncing off the support until it toped out and lost that support... Safe to say it'd consolidate for a while now. It's also worth noting that throughout this time when eith doubled, Bitc0in looked shaky...

2nd chart is on ada (not as clean cos the rally has just began).. It's taken the 1.5 resistance level and flipped it.. I'd start averaging some profits back in around the 4hr 21 ema support which is around 2-2.1 dolls currently (hopefully a wick to 1....... Similar scenario with xlm... Also, these ema supports are not static...

Obviously, I would be keeping an eye on what betece is doing, but wouldn't be too perturbed except betece starts selling off properly...

Got there...no problems...

Some bids still sitting in the support cluster beneath...

WTF is this

Reason why I keep off new and popular coyns until the hype has died down....then I evaluate how many trapped folks are looking to escape

nna777:
With the way Betec is behaving it's only a matter of time before the 'free tokeners' go into hibernation. Looks like winter is coming earlier than expected.

Lol... Sometimes, such posts make me wish the bullrun is over mk all man settle down

Ibime:
Thanks bros. I'm just averaging small thing incase it reverses whilst I'm otherwise engaged. I have split my capital 5 ways. 1/5th now and another 2/5th on low bids. I do think the Elon Tweet is fundamentally damaging and opens the door for regulators while closing the door for further institutional investment due to the CSR concerns raised (which we knew anyway). Elon was also the one who broke the $40k barrier with Tesla purchase. The Elon impetus can no longer be relied on. Anyway, watching in 3D.

On buying, you must not buy everything today, it's always good to have cash just in case or stacked low bids on majors

On Elon, one cannot deny the effect of Elon's tweets right now but seriously, I think it hastens what's already in place... Right now, it's difficult to agree with..

Lemme give examples...
Every proper betece dip comes with a narrative... It's the narrative that makes folks irrationally sell causing a capitulation. It's that same irrational selling that whales use to fill their bags.. That's why when folks say I wish bitc0in will dip to --- so I buy, I just smile cos they've not experienced the fear surrounding such dips

The last brutal betece dip from 12k to 10k, the narrative was that bitfinex ceo was arrested and the exchange partly hacked... Of course, fear was plapable... Looking back, we see how it went...

Same also, with the selloff to 4k last year.... Very very few bought in... Most thought the market was done

Recently, when it was announced that Tesla sold some part of their holdings, that happened when betece was at 52k... It didn't stop a rally to 60k and subsequent rejection.....

Also, Tesla was done buying bitc0in before they made the announcement... It was after the announcement that the coyn rallied past 40k... Personally, I'd say the buying that caused the breakout occured around the bottom of the initial selloff at 28-30k.....

Regarding betece currently, there's a daily cluster around 43k, there's chance price goes for it...
Most times, when betece starts selling off slowly like this, I start getting skeptical...same with when it starts toying around resistance.... I've come to see that when betece is ready to break a resistance/support, it goes for it and doesn't toy around.

I have some low bids on the leveraged tokens of certain coyns, just hoping they fill up overnight

Of late, there's been an increase in the number of posts offering free this and free that... Even though I know most are scams, I'm saying this cos there seem to be some new folks buying in...

The other day, someone was looking to buy an unlisted coyn as their first coyn in crypt0...... It's no doubt that such folks would likely lose it all...

People should understand that there's no free lunch...
Also, folks should understand that with unlisted coyns come huge volatility... If you've been unable to trade the 'slow moving' large caps profitably, chances are you'd get eaten up in that space if not careful...

Finally, can those offering numerous 'free tokens' please tone down on spamming this thread?...

Ibime:
Thanks boss. I averaged in another small thing on LTC from reading your last post.

$60k to $46k is 25% which is the usual correction for BeeTee so I'm starting to throw some in but keeping a lot in cash as well

Also worth noting a bunch of whales bought at $44k. Should they still be there (and not sold at $60k), that is a support area

My brother, this market no easy.... No free lunch...
But I tell myself, if I can't buy proper fear, then I shouldn't be buying proper greed..

On LTC, there's been so much buying at 300 without a proper bounce that I'm holding fire for now... Makes me think it'd dip to 250.... Same with link too (a dip to 35)... Also, I'm yet to see some proper capitulation on betece..

On betece, if I was buying it, I wouldn't be as bothered... I'd just place my bids at levels and go to bed.... Even if it sells off to 38k, in a matter of weeks, it'd be knocking on the doors of 46k again... on betece, I can blindly buy strong support... Na alyts dey give wahala

Ojemedad:
Ofcourse I will be on the side line, just buying the lowest of the low and keep all through the next bull run, won't make the mistake I made by jumping from coin to coin

Lol... When the time to buy the lowest of the low comes, you'd be thanking God for not buying last week....

It's easy to quote those saying buy the blood and sell the greed when the market is green.... It's another thing to really buy the blood brother...

Finally... On betece... I'm still waiting for the daily close...and yes the daily candle is looking nasty so far.

But just a quick reminder...

Betece is oversold on the 4hr RSI (1st chart) and close to being oversold on the daily RSI (2nd).... On both, it's already printed bullish divergence (i.e lower price on lower selling momentum)... That's typical of panic selling

The last time the daily RSI dipped this low was over a year ago... Even the selloff from 12 to 10k last year didn't dip this low on the RSI... That should give an idea of how often it happens.
On this whole rally up, the 4hr RSI printing bullish divergences while being oversold has marked a good point of entry on a selloff

In summary, even though betece is looking more and more like it'd nuke downward (and yes it may), selling into an oversold RSI both on the 4hr and daily doesn't look like a good idea....Such opportunities should be bought and make no mistake, whatever the narrative, folks are buying this fear....

Ibime:
How you see am boss? I just chance small change in EOS as it dropped to 9.6, hoping BeeTee stops it's reversion soon. Have set some low bids against ADA, XRP and ETC also.

I'm waiting for betece daily close and would be sharing thoughts on it looking at both the bullish and bearish case...

But one thing I know about this market is that it does not reward fear.. Funny enough, it's more likely to reward greed than fear......

On majors.... Ada seems to be on board now, Xlm and xrp are looking to be next....
I'm not so keen on etc yet except for range plays... It's just had a parabolic rally which was also based on eiths strength... safe to assume it'd consolidate for a while........ But then, it's close to the daily support, an entry at that support should portend a good risktp reward

Still on majors....

Ltc and link (to a lesser extent) have been following a distinct pattern since the turn of this year....

Take LTC for example (1st chart)... It's usually 2-3 weeks of an upward rally and then 1-2 weeks of a selloff to confirm support before resuming the upward rally... But then, it maintains an uptrend by still maintaining higher lows and higher highs each time

That this pattern has been in repeat for so long makes me think that same folks who are buying the pullbacks are those selling the rallies.. it's called smart money...
LTC's current support are at 300 and 250...
For link its 40 and 35

For those that keep asking what to buy at the highs, this is the time to ready your shopping bags... LTC from its current 300 back to 420 is a cool 40%, if it dips to 250, that's even better. If you were happy with buying the top, you should be more happy in buying the pullback.

Betece with 7 straight red candles on the 30 min chart... Looking like one of those times where it creates one fat red candle or a selloff that's bought up

The fear in the market is getting palpable....but not just there yet... Just see the red piling up

jedisco:
Betece dips can be a good time to target strong coyns which have just broken out of consolidation range but are forced to retest support as betece corrects... Usually, they'd continue their upward trajectory once the correction is complete, they run fast...
Recent breakouts have been aave, dot, ksm and atom.

On Atom, an entry between 24-25 should be one to keep for sometime.


On ada, I took some off at 2.45....
It's hyperextended from the 1hr abd 4hr support... Will look to buy back close to support... I don't believe it's rally is near finished..just looking to compound profits... Same with xlm...took some off at 0.78

My decision to take profits off Ada and xlm wasn't a bad one....

I will be bidding their 4hr support...

Talking about the 4hr 21 ema support, most majors use this support as a bounce off region when they begin an uptrend. I use that to know when to sell and time re-ntries to compound profits and guage when the rally has began to show weakness..

The first chart is the 4hr chart of eith which I shared a while back. After clearing 2k a while back (blue price line) and beginning an uptrend, It kept bouncing off the support until it toped out and lost that support... Safe to say it'd consolidate for a while now. It's also worth noting that throughout this time when eith doubled, Bitc0in looked shaky...

2nd chart is on ada (not as clean cos the rally has just began).. It's taken the 1.5 resistance level and flipped it.. I'd start averaging some profits back in around the 4hr 21 ema support which is around 2-2.1 dolls currently (hopefully a wick to 1....... Similar scenario with xlm... Also, these ema supports are not static...

Obviously, I would be keeping an eye on what betece is doing, but wouldn't be too perturbed except betece starts selling off properly...

Ojemedad:
Sincerely and hopefully let the bear season just begin like this so I get get fully prepared for the next bull run

Hehe...easy to say...much more difficult to do....
People think buying crypt0 in a bear market is easy until it comes and they're no where to be found

Betece is at daily resistance (49,800)... If it's not rejected from that zone, EOS looks ready for a run..
Got some at 10.5

Betece dips can be a good time to target strong coyns which have just broken out of consolidation range but are forced to retest support as betece corrects... Usually, they'd continue their upward trajectory once the correction is complete, they run fast...
Recent breakouts have been aave, dot, ksm and atom.

On Atom, an entry between 24-25 should be one to keep for sometime.


On ada, I took some off at 2.45....
It's hyperextended from the 1hr abd 4hr support... Will look to buy back close to support... I don't believe it's rally is near finished..just looking to compound profits... Same with xlm...took some off at 0.78

vicdom:
But when you are holding for a long-term, I guess it's better to accumulate more units so that by the time the prices rises way too high in future, one would easily benefit massively. "Taking out profit from your investment" strategy would be palatable for only short-term holders and not for the long-term holders.

I agree with accumulating more units... Question is how do you accumulate more units despite holding for the long-term?

One way is deploying fresh fiat into the market.
Another is by trading coins within their range.. Taking profits does not necessarily mean taking it off the table... It most times mean selling some stash into fiat at the highs so one can accumulate more units when theres a dip

jedisco:
On this....
Doge has been a sweet one to trade over the past few days...

My lowest entry on this last dip was at 0.36... (Didn't fill my bids at 0.32)
I've disposed some off and would be looking for a dip to 0.45-0.5... the liquidity is there, the levels are defined.... It's making 10-20% moves look like a walk in the park...

I've come to like the relationship doge has formed with its 4hr 21 ema support. It goes far back to when it was at 0.25.. It's been a good one to trade lately both as resistance (when below) and support (when above)... I got my bids at 0.5 filled... Looking to ride it into the highs again... It's making 10-20% moves without much noise

On the daily chart (2nd pic), the support is now approaching 0.46.... Would be an area to loadup if it gets there

OffsahBoye:
Good morning
I understand when a coin is paired with usdt very well
But I don't get this /eith,/beteece,/bnb and co
Does the paired coin affect the growth of the original coin(xmr,Ada,,etc)
Is it better to trade with betc,eith,bnb than with usdt?
I don't get the whole idea behind it

It's still same concept, just that this time, youre trading between two variables hence more tricky...

Going back, in the early days of crypt0, most people mainly had betece and only traded alyts to increase their betece holdings...
But with the advent of stable coyns, a good number now trade alyts directly into 'fiat'

The concept behind trading crypt0 pairs is that one coyns usually perform better at different times of the cycle (irrespective of what betece is doing). If one undersands the relationship well enough, you could catch the rally on ome coyn before switching to the next. I.e if eith has rallied significantly against betece, and is at resistance, some people would simply just sell eith into betece knowing that soon enough, betece will catch-up.


If you're trading pairs, one has to be a benchmark... That's why I limit my benchmark to only betece and eith

Deledestiny04:
Good question, I was just confused with the “ Take profits” . Lost the chances because I wasn’t sure and also concerned with the units dropping, cos I felt the amount of units also determines what profits you’re getting

A good number of people don't get the concept of taking profits. Personally, I find it interesting... Whenever I see the question, I keep asking myself what's this person doing in crypt0...

On your question, of course the amount of units determine your profits when you eventually sell...
The price also determines your profit...

See it this way, if I buy 5 bags of maize when its cheap to store and sell later. When the price of maize in the market rises, what do I do? Would I keep holding on to my bags of maize so they don't reduce or do I sell so I have profit I can put in other things and buy back when it's cheaper. In this scenario, the total value of your maize stock is dependent on the market price and the number of bags you own.

Each bag of maize is equivalent to a unit of coin... What matters at the end of the day is your cash in hand. It's left for you to do the math and see how to make it suit you.

Deledestiny04:
I have been following this tread for a while now, but I need to understand the concept of taking profits cause yesterday I lost the profits from my Dogecoin. When we say take profiles , for instance, I bought $100 (170 units) and it appreciates to $150, which means I have made $50, do I sell and rebuy with my initial $100? Cause the units (170) will definitely not be same anymore since there has been an increase on the particular token. Really need to understand this concept.

Main question is are you interested in the number of units of a coin you own or the cash/usdt value you have?