₦airaland Forum

Tyche:
I am looking at taking profit into ethy as against BTC in this run. Ibime, Jedisco what do you think

When deciding on if to take profits into eith or betece, I usually look at how they are performing against themselves...

On the eith/betece chart, Eithy has had 6 straight green weeks against betece.... There's still some upside left against betece before the next resistance... It may pullback before hand but would ultimately get there... That means eith may outperform betece for a short time more...

But looking at it from an ROI or risk to reward point of view, the time to take profits into eith was 5-6 weeks ago when it was ranging and other alyts were popping. Now betece is has been ranging for a while, very soon it will move..

In summary, if taking profits into eith now, watch the chart as soon enough, it'd be better to be in betece

iceberg02:
I'm new to all this stuff where will you advise me to start from?
jedisco
Ibime

The king of the bunch which is betece...
Might be also worth getting some larger cap coyns which still have some gas... Such as ada, bnb

Ibime:
Thanks I'm in a swing from 0.65 to 0.71 range

I'm also leaving a seperate trade with a small amount ($2k) to ride overnight incase Elon turns SNL to the Doge show and it is received well.

Hehehe.... How did it go?

Brutal selloff... No mercy was shown

Also, alot of talk about doge to 1 dolls... Seems most people are waiting to sell at 1

What I think?
I doubt the rally will stop at 1 dolls if it gets there... Doge rallies hardly end at rounded numbers..(Previous ones topped at 0.085 and 0.45)... It's usually a perfect trap for those aiming for the nezt round figure

I'm leaning more towards two possibilities...

1. If 1 dolls is supposed to be the the top, the level may be massively frontran before that (say 0.85-0.9)... 0.85 rings a bell just like the rally before this... A selloff there would leave those waiting to sell or short at 1 dolls pants down

2. Another possibility, it gets to 1 dolls. Folks selloff and think they're geniuses, others try to short at 1 dolls also... It pullsback a bit, flips 1 dolls and starts rallying... The fuel will be those shorting as price will squuze and liqidate them... Also, those who sold at 1 dolls thinking it was the top will FOMO as more fuel...

That said, I'm playing it level by level... It first needs to get above 0.74 first... If it does, I'd reduce position around 0.85 and continue till as it moves up and see if it flips 1... If fails to get above 0.72-0.74, I'd cut my position

Doge with a proper 4hr close... Confirm the flip of 0.65 as support...

I believe with that close, price will sooner or later look to challenge the resistance at 0.715-0.74....

Two possibilities I'm looking at...
First will be a lil pullback at 0.72 but it ultimately takes the resistance and perhaps rallies to 0.85ish..

Second is if it forms a double top at that area (just like the previous move up - in blue). That would be more concerning cos it'd need to visit the 4hr support below again which has been visited 3 times recently and is now very close to the resistance... I doubt it'd hold if visited again after a rejection from 0.72...

Lets see how this goes...

Ibime:
Thanks I'm in a swing from 0.65 to 0.71 range

I'm also leaving a seperate trade with a small amount ($2k) to ride overnight incase Elon turns SNL to the Doge show and it is received well.

Seems you caught the flip (dotted line)
If taking a measured swing trade, ideally, stops will be below the retest point.......

Without the SNL, doge has been maintaining structure on this pump... It's not just a straight line... There's been support resistance flips on the 4hrly chart which is significant structure being made... Makes me think structure will hold for a while... My concern with this upward move is that volume has generally been on a decrease... if it continues, then there'd likely be a proper selloff to confirm the trend or a breakout on huge volume... Also, betece is looking more and more ready to breakout... I've noticed doge dosent do so well when betece runs

Obviously, with doge being such a large cap now, such huge rallies are more difficult... A 50% move up on doge will mean 44 billion dollar increase in market cap...



P.s. forgot to attach the chart in my initial post

With eith pumping, good chance ETC follows suit...

Its bounced off the 4hrly 21ema... I'd look to make an entry as close to 120 as possible... Looking at a support cluster at 123-125 (blue arrow)

Target is 180....

Personally, I believe it's pump is done and this should be a dead cat bounce hence why I'm willing to play it cautiously and wait for bids at my preferred level so my stops aren't so far


BTW, this is another bounce off the 21ema... Which further buttresses my point of targeting entries

Ibime:
Are we set up for a swing? I'm considering jumping back in for a swing play, the way that large downward wick was eaten up

Hehe... Swing is already in play na...

Good buys would have been at 0.63 and 0.6...
It seems to have formed and broken out of an inverse head and shoulder on the 15 minute chart.

The neckline for that is at 0.67 and will be a good bid on a retest...
Target will be adding the range of the head to the breakout level... (0.67-0.63)+ 0.67... lines up yo 0.71 - 0.72 which coincides with the breakdown level and an area to take profit..

Looking at the 4hrly doge chart, I think a sensible way all this while would have been to play it on dips rarher that wait anxiously for a pump

OffsahBoye:
Sorry pls
I'm confused here pls,is it the support that was at 0.627 or the 21ema

The 21 ema... I prefer to use the ema in a trend.
The 4hrly support is at 0.65. look dotted line on the 4hr chart below and see how price has interacted with it

TheSTreetman:
This guy need to be followed by everyone here.

Doge dipped to the 4hr support and bounce back immediately..

All hands on desk to see what happens next.

Easy brother...mk u no follow me enter water

Enosa1:
lol... It seems the SNL was a sell-off for doge... I'm out

I wouldn't call this a selloff just yet... It seems more like a retest of the 4hr support which is not unusual in any uptrend....
If prices start going below 0.6 without a bounce, then that'd be a selloff.


With the way everyone is talking about SNL and how opinions are split, what if it has already been priced in.... I.e, it comes and goes and stuff just keeps ranging

Ibime:
I've sold my Doge at 20% profit and set the below alerts. Volume is quite low, I don't know whether the buy the rumours and sell the news people are getting ready to dump. It's getting too close to this SNL performance now. They should alert me when they start moving either way but Im not setting any orders, only alerts so as not to catch a falling knife or fake breakout.

Nice play.... My stops were hit but they were lower than I'd have wanted

Hehe.... Just submitted my post and alerts started going off... Seems its happening already

Looking at doge, I'd it's not fared badly considering how alyts have bled as betece is approaching resistance.....

On the 4hr chart (1st pic), if the current 4hr candle (which will close in 30 mins) closes this way, that'd make it 4 candles in a row for which the 0.715- 0.72 acted as resistance... I'd either tighten my stops or cut some exposure and wait till it gets above 0.74. It'd be logical to then expect a pullback to support below... The 4hr support is currently at 0.627... so thats an area to keep in mind.

Also on the 15 min chart (2nd pic), there stops below that such a pullback will clear out...

ObodoNaija:
Please bros, can you help me to briefly take a look at Burger. Should I buy now or I should wait for it to dip?

Burger is a new coyn and not one I trade..

Generally with new coyns which I think have potential, I trade them same way.... I wait for the initial pump and subsequent selloff to complete, see what structure it has, before getting in...

But looking at it's daily chart (1st pic-not complete yet) aside a wick, there's little or nothing traded between 20 and 30.... I don't see much of a good trade here except it flips 30 or the today closes above that resistance at 20.
For now, 20 is the resistance.... Also, looking at it, there's the possibility this pump might be a dead cat bounce before further downside.

Regarding possible areas to bid, on the 4hr chart, there's the 21 ema (which is relatively new and doesn't have much interaction to know how well price respects it).
This ema is marked 3, and is currently at 16.5, there's also a support cluster at 15 and 13 (marjed 2 and 1) for possible bids...

All in all, I'm playing this, I'd play it level to level

Zobah:
They will settle out of court.

Ok... Personally, I'm not really concerned about the court case....

We're in a bullrun and there are numerous coyns. I trade ripple for the profit.... From a technical standpoint, I don't see much of what ripple does that other coins cant.

essay007:
You're right my man. However, ripples case is quite unique. They're in a lawsuit that's preventing the coin (really great potential) from reaching that height. If they win their case or make out of court settlement, you can bet your bottom dollar that ripple will sky rocket.
As for Doge, I feel it'll reach $1 tomorrow as Elon Musk will be on SNL.

The court case is fairly recent... It topped at 3 dolls in 2017 when most thought it'd go higher.
Even with betece.... When it was at 19-20k in 2017, very few thought it had topped... The general consensus was that it may pullback but definitely go higher... Well it took 3-4 years to see those numbers again...

What I'm saying is that when rallie/markets become heavily driven by irrational greed, they usually flip when least expected....
That's why I prefer to play things level by level cos no coyn is an endless money spinner

nna777:
1HTF suggests a ranging trend. 4HTF & 5HTF suggests an uptrend and I think the uptrend will take place in the evening. Hodlers & non hodlers alike are patiently waiting for SNL. Till then it might keep ranging between 0.7 & 0.73.

What Nigerian time is this SNL?
Would be interesting to see what happens then.... Let's hope it's not a 'buy the rumour, sell the news' event as we've seen before

Cannicus:
Bro, this theta pump go fit reach $15 today?

E never pick my $13.2 sell order.

How come ur order wasn't picked... It hit 13.2 niecly... I know that was my target from a while back...

After 13.2, the next major resistance is at 15... There's another at 14.2 but should be less of an issue...

Regarding when it'd get there... No idea... It's on a pullback now and would need to get a base to bounce, then flip 13.2 before any further upside

essay007:
However risky doge may be, this is reminiscent of what earlier investors said of BTC. Now look at btc.
Doge is a meme coin that has made people a ton of money and I believe it will continue to do so. The whales won't sell just yet. The greed is there, doge will keep surging.
My personal opinion though.

I usually don't try to time the top of a parabola or underestimate the strength of a raging crowd....
But then in every market, a parabolic rally is driven by irrational buying... Irrespective of the price, one day the buying pressure will decline and the opposite happens....

We've seen such parabolic rallies in crypt0 before... Look at ripple, it pumped from almost nothing to 3 dolls in 2017.... Then, folks thought it'd continue but 4 years later its still not hit that price....

Also, comparing doge to betece is different... A good part of doge supply is still in a few hands, they don't have thesame infrastructure backing them or deflationary model....

In summary, doge has made alot of people money (including me) but I know markets don't work that way where everyone keeps making a ton of money... That money has to cone from somewhere. Also with all such rallies, majority end up loosing or giving back their profits to the market (ask ripple folks). I'm trading it stage by stage and not seeing it as an endless money printer....

prince0011:
Jedisco, you couldn't have said this any better. The whales will pull the rug for doge, it is a given for every massive rally they have. The best strategy is to take profits along the way and get back in with SL. Anyone trading doge using leverage will most likely observe a night vigil today.

Stuff that go up rapidly, come down rapidly..... that's sure in crypt0... Not due to whales perse but just a normal dynamic in markets... Stuff goes up cos there are more buyers than sellers...if buying pressure gets exhausted, it goes down and the cycle repeats over and over again.

One thing it's got right now is the liquidity.... So wouldn't be a bad on to snipe on proper dips

Vlyrics:
@jedisco, please once we finish riding doge which coin bounces back from a downtrend fastest. Cos I know doge will take them down.

Interestingly, doge seems to be the one bouncing quickly if you catch the right dip... There's lots of liquidity on it and that wouldn't change soon...

What has changed is that there has been less buying pressure after a breakout compared to previous rallies (perhaps folks are more interested in buying the dips and selling breakouts).. Also, volume has been on the decrease generally which is not a good sign

Brief reminder to all trading doge... It's a risky coyn to trade despite liquidity....
No matter how low, it's advisable to us stops moreso once it's gone past your buy zone

dogtails:
Bro how far it has pass 0.7 should we increase our portfolio

It's for you to decide....

Usually, I want a candle (on my chosen timeframe) to begin and close above the breakout point to avoid getting trapped by a fakeout...

But given how doge moves, I added size at 0.7 after the last candle close...

donprosper6:
I need a professional advise cuz am about to invest much on crypto?

Why not seek for a financial advisor or accountant

jedisco:
The demand below 0.57 has been immense.... On the hourly, any dip below has been gulped up in a wick...

On the hourly chart, the 0.57 area (1) has held well so far...

My concern is that between 0.59 and 0.49 are the tips of 3 wicks which I'm sure will have alot of stops there and hence liquidity... Some greedy folls would have sure have taken a 25x trade with stops just beneath those levels and CZ no go wan pay that kind profit... Price generally likes liquidity.. I hope it doesn't go for them...

Good thing is that the 4hr support (2nd chart) is gradually approach price and should provide some support... Another spanner is that the current 4hr candle looks bearish in the making (though not complete yet)..

All-in all, it's not giving very convincing signals on either move yet... Just the presence of good liquidity

The liquidity on doge is huge.... So even a dump will recover quick... My concern is the opportunity cost of holding it in a range when oda good stuff is moving
Also, there's been alot of talk about the Saturday stuff...hehe... I don't want to be holding doge that day...

On doge....
Following this post,
1. We got one more dip after the bearish 4hr close...
2. The 4hrly EMA saved the day with a proper bounce...
Now, all we need is some escape velocity so I can draw out my targets...

Brief advice...
If trading alyts, moreso majors with good structure, it's worth learning how they interact with individual EMA's.. it prevents you from buying randomly... I set my ema to 21 on alyts

On the weekly chart, the 21 ema serves as a good guide to know coyns that have been or would continue a significant rally.... it's a good opportunity to buy if got... It's the support of a bull market

On the daily chart... Whenever betece pullsback in a bullrun, i look for coyns that have held the 21ema on the daily chart

On the 4hr chart .. this is a good place to enter coins that have been in a recent uptrend... Whenever I want to FOMO into a good trending coyn, I look out for this... Look at most coyns e.g Link, ltc, xmr, ada and see how they bounce off this in an uptrend

On the 15 min, 30 min and 1hr chart, this is mainly for parabolic runs.... E.g ETC yesterday... A good guide..


On betece, it's more complex....The hourly, daily and weekly are useful... Lower timeframes aren't.

Ritapearlydove:
Elon musk just tweeted doge

Hehe....
He should reserve his fuel till when it takes 0.7.... then na his rocket we need

StarMonkey:
I think it will...I'm just waiting for a good re-entry

Re-entry no easy... Some crazy buying pressure on it... Dips are being guzzled up..... Hopefully there's a proper selloff before it breaksout

Interesting thing is that it seems to have an inverse relationship with betece....i.e start pumping when bitc0in starts dropping... Reminds me of the old LINK...

Ritapearlydove:
You're awesome

Gracias

Wouldn't lie... If doge takes 0.7, I'm increasing size.....

jedisco:
Doge waking up....seems profits from yesterday are being cycled back into where they belong..

Would love a breakout before whatever event taking place tomorrow... That'd way, we can ride the tide...

Still got some sells at 0.674 and 0.685... lemme see if I can scalp once more before a breakout...

The media on this coyn is crazy.... Couldn't believe it was being spoken about on the radio today

Done... Now now looking for a re-entry...

I'd place some at 0.640 thereabouts (15 min ena support)... Hopefully it goes lower...

0.685 was the top of the wick and 0.674 the close of the candle...
Really loving this coyn.... E be like say I go just focus on scalping it today nd tomorrow

Ibime:
Me too . . . .at 93 and 97

Bounced at 110 and rejected from 120... I'm looking at where it'd find support...

Eitherway, doge is cooking up... No yawa