₦airaland Forum

On doge... Came late as I needed to attach a screenshot from trading view

A bit lengthy....

First chart is that of its last breakout.... Second is this current breakout...

On the last rally, it broke out from 0.085 and rallied to 0.15 before having a selloff to 0.1... by then, most folks thought the rally was over though I remember reminding folks its not done. On the highlighted part, after a proper selloff, it printed a reversal 1hr candle, slowly regained the trendline, flipped 0.15 and did an x3 to 0.45... It did not break below 1 on that selloff

Now something similar seems to be playing out... It sold off from 0.7 to 0.52, a 28% drop and is slowly trying to reclaim the trendline.. Good thing it that it didn't break back into its previous range on the selloff. Again, most think the rally is done...

Some facts....
It did not break into its previous range on both selloffs above. That's bullish and shows the level was respected

On the pump before the last, it did a 10x, last pump was a 5x (0.085 to 0.45). Things to consider now is that its a much larger cap and such huge rallies require significantly more volume. A 5x from from breakout will surpass eiths market cap... Not easy at all

Also, I've seen a number of doge pumps and 0.7 does not look like a doge top.. There's been little or no FOMO yet on this rally.

That said, there's been alot of talk about getting to 1 dolls... I believe if 0.7 is flipped, then I'd lean towards it going past 1 dolls... Doge always rallies higher than most expect due to FOMO and I don't see FOMO setting in unti 1 dolls is taken... After 1 dolls folks will start going crazy except it's massively frontran

The bearish case will be a further selloff to 0.4 levels... I'm not as worried if this occurs as I'd be stopped out on part and doge gas good liquidity to keep ranging...

Whichever way, I believe the desired path should confirm in 4-12 hours...
If 0.7 is flipped, my final targets (although difficult to ascertain due to the reason I mentioned) will be between 1.8 and 2.25 ish... That said, I wouldn't be a sitting duck waiting for those levels before selling... If a rally ensues, I'd sell any significant upside from the 15 or 30 min support and buy on a retest of it... That way I'd get more.... Usually, it'd keep retesting the 15 or 30 min support until it tops out...

Let's see how this goes.. but I'm rooting for significantly more upside

Ibime:
Boss, how do you see Link setup?

Been loooong overdue a run.. it was the first major to hit ATH after betece but its been lagging... Moreso as a coin known to run crazy...

Its veen annoying but I wouldn't be surprised it hits 100-150 soon with current market conditions... I'm in a position

Like it or hate it, one thing you can't take away from doge right now is the liquidity...

It's this selloff I've been on the lookout for... Quite similar to the last... lots of overleveraged positions had to be cleared out...
Now if ot can slowly get above 0.7 over the next 8-12 hours, then the proper move will start

Ibime:
Thanks bros. Abeg what price target are we eyeing?

The guy is approaching 0.7 now.

Alot of variables I'm looking at...
Usually, I'd say 4-5x... Major variable now is its market cap and that'd need significantly more.. I'd share thoughts later on when I can attach charts

Do you the see similarities between this pump and the last?

The beauty of an eith rally is the effect it has on alyts... especially majors...

Even with betece being a killjoy, most are looking to explode at any given opportunity.... LTC, LINK, BCH and the rest

ETC has held the 15 min support beautifully well throughout this rally despite betece pulling back...

That support is looking tired now but it's still holding... If it breaks down, I'd play the 70 area for a bounce. If it doesn't, I'd hold my position till 100.

Ojemedad:
A difficult one for futures traders

Yeah... Trading futures requires skill

[quote author=Ojemedad post=101387517][/quote]If one is trading spot, waiting for an absolute betece price before entering the market is not usually the best... For betece to rally, folks must be left chasing.
I advised someone here last week who was asking if they could buy betece at 53k during the selloff.

Even though I believed it'd go lower then... I advised it's best to start averaging in as betece had already dropped over 20% below the previous high....

Personally, I believe the bottom of this pullback is in (at 46.7k).... Most people waiting for that might end up jumping in higher.... Target buys for betece now will be as low to 50k as possible...

In summary, what I'm saying is that if I was buying betece, I wouldn't be so bothered about the price/buy target once its below 53k.. I'd just DCA... The 21 week ema (which was frontran the last time) is currently at 46k.. Buyers have stepped in heavy below 50k.... My ideal entry now will be between 50-51k.. but I wouldn't sit waiting for it. I'd rather stack bids down to my level and leave some for below 50k

jedisco:
Aged well I'd say...
Was a good decision converting part of my alyt positions into bnb... Though it hasn't kept up with eith, it's fared better than most which is important considering I'm not as exposed to eith as I'd have wanted.

Srm has moved quickly and I have no complaints.. still targeting 18-20 on it...
On uni, have some low bids hoping to be filled...

Generally, above the 21 day ema is where I like to play alyts... And to avoid getting stuck in a range, I target coyns that have broken previous significant highs and flipped the level... It's much better getting a good position on a possible rally than waiting for your coyn to rally...

From the weekly charts, in addition to the above, there are some coyns that closed above a significant level and seem to be getting ready for a rally...
One is Aave... It closed the weekly above 500 which it has battled with for a while... Its in the process of flipping that level...
Another I'm watching is ETC (level is 50),
LINK- closed the weekly candle above 40 which was the highest close.. Next level is ATH at 44...
SXP... I'm in a position and targeting 10... It's a tricky one as it can disappoint. I usually prefer to play it after a selloff...

Finally, with betece yet to deal with the 60k resistance, its a tricky one... Eith has shown strength hence alyts are rallying... I'm more interested in getting proper positions on good coyns than random fomo... Lets see how betece closes the day.. Another dip to the 21ema would be a nice area to get ideal entries

Betece sells of, some alyts look like pressure pots waiting to explode.... The eith effect...

Glad I was exposed to ETC.. Done 2x on that... Initial target is still 100. I'd re-evaluate at that point...

Got bids filled on UNI at 40... Impressive how it's managed to hold that level even with a selloff... I took this over AAVE (which had dipped to tge 450 level I had interest in)

LINK is another one who's been surpressed... Could easily see 100 from here....

Had to let go most of my BNB and XMR position for doge..... They both look good but doge looks hotter

Ditched my srm and stopped out on sxp.... No complaints.....

In summary, alot of coyns have been compressed for weeks... The eith rally is finally waking them... It's not very often alyts (majors) look this bullish during a betece selloff.... I see it as an opportunity.... One not to be missed...
P.s I don't think micro and midcaps will keep up as much if most majors go on a rip (except the whole market rallies together). Micros usually go ballistic after majors are done... Reason why I'm not really exposed to micros now

Ibime:
Thanks baba. I've averaged in some more.

No wahala brother... I'm well loaded on right now, volume ramping up.... Believe it start to move quickly once it clears 0.6. If it repeats its last rally which is possible considering how quickly it broke out, then that'd be a good win

jedisco:
A tricky one... Market is too bullish on it this time about it makes me worried a bit...

I haven't entered yet as I wanted it to get above 500 to avoid a short squeeze... Now it's closed above 500, I'd look for an entry and average in between 0.5 and 0.52

Also, the volume breakout on this breakout hasn't picked up yet.. If you look at volume on the last breakout, it was significant and good enough to hold the level...

Thing with doge rally is that the upside is usually significant and so an entry now would still be considered early provided the levels hold... So it's worth getting a confirmation before rushing in

On this... Loved the selloff on doge... Volume beginning to pickup... Me thinks this stuff goes higher... Was able to get my low entries filled...

Ibime:
Doge is on the run

Jedisco, Sailor1 please let us know whether to increase size

A tricky one... Market is too bullish on it this time about it makes me worried a bit...

I haven't entered yet as I wanted it to get above 500 to avoid a short squeeze... Now it's closed above 500, I'd look for an entry and average in between 0.5 and 0.52

Also, the volume breakout on this breakout hasn't picked up yet.. If you look at volume on the last breakout, it was significant and good enough to hold the level...

Thing with doge rally is that the upside is usually significant and so an entry now would still be considered early provided the levels hold... So it's worth getting a confirmation before rushing in

OpenHeaven2019:
$BAO

Jedisco and Sailor1 look at the $BAO chart

It's a new coyn hence the charts don't go back far. It's had the initial selloff which is when I like to get into new offerings.

Issue is that it's currently below the 21 day ema which is a level it's shown respect to in the past. Usually, I prefer playing alyts above the 21d ema as that's where they really perform. Of recent,its failed to flip this level and is currently holding it as resistance. Such small caps can move quickly so they may flip a level and rally asap like its last rally.

On the RSI, although not bottomed, but it's cooled down enough to allow a further push up...

Given current market conditions, it wouldn't be a bad bet but I'd prefer an entry it after it reclaims the 21d ema

OpenHeaven2019:
$BAO

Jedisco and Sailor1 look at the $BAO chart

Not on binaz... I'd get a PC and look at it.

jedisco:
Even with the Betece selloff, some alyts like eith, mkr, cake, sol have been on a run... Generally, I trade alyts to ride the runners and avoid being stuck in a range.

Talking about breakout coyns... 3 stuff are taking my attention..

1. Bnb... It's held 600 beautifully well even with the pullback today... Looking at it's chart against other coyns, it should have been one of those to hold... Good thing is that binaz has a bnb pair with most other coyns so I'd be slowly collapsing some laggards into bnb stuff like egld, ltc, coyns whose charts look sh**t against bnb... Can always flip back when the other shows strength

2. Srm.. broke previous high and went on a blast recently from 6 to 11... Since then, its been consolidating between 9 and 11... Such moves most times have a second part at least... If it breaks 11, I'd look to ride it to 20. If it dips below 10, I'd get a small position and add on a breakout

3. Uni... Still developing but showing strength

Aged well I'd say...
Was a good decision converting part of my alyt positions into bnb... Though it hasn't kept up with eith, it's fared better than most which is important considering I'm not as exposed to eith as I'd have wanted.

Srm has moved quickly and I have no complaints.. still targeting 18-20 on it...
On uni, have some low bids hoping to be filled...

Generally, above the 21 day ema is where I like to play alyts... And to avoid getting stuck in a range, I target coyns that have broken previous significant highs and flipped the level... It's much better getting a good position on a possible rally than waiting for your coyn to rally...

From the weekly charts, in addition to the above, there are some coyns that closed above a significant level and seem to be getting ready for a rally...
One is Aave... It closed the weekly above 500 which it has battled with for a while... Its in the process of flipping that level...
Another I'm watching is ETC (level is 50),
LINK- closed the weekly candle above 40 which was the highest close.. Next level is ATH at 44...
SXP... I'm in a position and targeting 10... It's a tricky one as it can disappoint. I usually prefer to play it after a selloff...

Finally, with betece yet to deal with the 60k resistance, its a tricky one... Eith has shown strength hence alyts are rallying... I'm more interested in getting proper positions on good coyns than random fomo... Lets see how betece closes the day.. Another dip to the 21ema would be a nice area to get ideal entries

Sailor1:
Hehe... Another alert recieved... This one was sweet cos I traded it with size...

Quoted was my plan a few weeks ago, though betece wanted to thwart it, but my God no gree....

After the selloff, I got in heavy at 0.27 and added more at 0.3...
So far,
Took 25% off at 0.395
50% off at 0.4
Left the remaining 25% for a target of 0.42

Overall, approximately 45% profits on this.... Baba God noni

Taking some profits into fiat, and would cycle some into vet and bch....

Looking forward, if it takes 0.45 convincingly (I doubt), I'd look for an entry, otherwise, on the 5hr chart (attached), I see a possible 'inverse head and shoulder' forming... Already its formed the left shoulder and the head.. A good possibility of a dip to 0.27 to complete the pattern... Eitherway, if it gets there (0.27), I have no problem going this trip again.

Another gift completely received...

Looking forward, flip 0.45 convincingly and we discuss otherwise, I'd wait at 0.26-0.27 for a quick play...

Wouldn't deny it looks stronger than the padt rally. Perhaps it breaksout if it completes the inverse head and shoulder

Sailor1:
This week didn't start on a green note... But the end is seemingly going to be very green.

Just got another alert on a position opened earlier on ETC..

Entry was 33.
Took 25% off at 40 an equivalent of 21%
Took 50% off at 45 an equivalent of 36%
I'm letting the rest ride to 48.5 ish....

With the profits, wondering what to do... Would split it 3 ways... One part is locked as fiat, tge remaining 2 might go into bch or xrp with a target of 15-20%.

Waiting for alerts on the rest... Ltc, xrp, doge, xmr, celr e.t.c. Most times, it's relatively easy to play alyts in range after a pullback

Done.... This looks like it's going to take off again...
If it does (i.e flips 50 convincingly- able to open and close at least a 5hr candle above with a bounce), I'd get a re-entry.... Considering the strength of the initial pump, a second pump could take it to 100...
Alternatively, if it dips to 40, I'd consider opening a small position and add on a breakout... Looks like it's only a matter of time

Even with the Betece selloff, some alyts like eith, mkr, cake, sol have been on a run... Generally, I trade alyts to ride the runners and avoid being stuck in a range.

Talking about breakout coyns... 3 stuff are taking my attention..

1. Bnb... It's held 600 beautifully well even with the pullback today... Looking at it's chart against other coyns, it should have been one of those to hold... Good thing is that binaz has a bnb pair with most other coyns so I'd be slowly collapsing some laggards into bnb stuff like egld, ltc, coyns whose charts look sh**t against bnb... Can always flip back when the other shows strength

2. Srm.. broke previous high and went on a blast recently from 6 to 11... Since then, its been consolidating between 9 and 11... Such moves most times have a second part at least... If it breaks 11, I'd look to ride it to 20. If it dips below 10, I'd get a small position and add on a breakout

3. Uni... Still developing but showing strength

On betece.... 2 things I'm seeing...

On the 5hr chart (1st pic), it's broken out of an 'inverse head and shoulder' and it seems to be retesting the neckline/breakout zone at 55.5k-56k. This zone also corresponds to the 21 daily ema on the daily chart(2nd pic).

Ideally, this breakout should bring significant upside to roughly 68k. But then, there's the 60-64k resistance zone...

I've scanned thru twitter (which is good to measure public opinion) and not many people caught this dip. It seems the general consensus is that folks agree that the bottom is in but are waiting for a pullback to low 50k to fill their bags....

My view is simple... Betece likes to leave folks offside and a breakout when most are left chasing or second guessing is much more likely to hold than one where people are confident that the only move is up...

Secondly, 60k remains resistance and I'd treat it that way until it's not

More importantly, betece above the 21d ema is where I like to play alyts...and with eith showing strength, they should rally. Since the selloff, I've played alyts within their old range but after the close today, I'd be moving to how I play alyts before which is by targeting breakout coyns and riding the momentum

Alot of majors look hot...

Bnb is one I'm watching... Not in a position now, but if it can flip 600, then 700 and even upto 900 eventually could be in reach...

Xmr is another... Got in earlier at 408... If seems to be in the process of flipping the 400 level and has also built an ascending triangle... It's already been in a rally for sometime so I'd be looking to take profit earlier at about 500-520... on the contrary, if it starts closing below 400, then that'd be a bad sign.

N.b.. these are 5hr charts...each candle represents 5hrs of price action... So they're slower moving but have less noise

The major caveat is that betece is at 55-56k resistance. So it's worth waiting for confirmation before getting into alyts.
On betece, let's see what happens but I'm hoping on a retrace to the 50k level over the weekend/next week. That should be an opportunity to get some entries.

Ibime:
Can you link us to where we can track this indicator?

It's on trading view...

If you pullup a betece chart against usd or usd.t on any of the exchanges (usually, I use koinbaze) You could search for it under the 'indicator' tab.

This is a phone screenshot

Seems there's some proper good news on the horizon..

Who here has heard of hash ribbons? It's proven to be a very accurate indicator on when to buy betece in the past... With all indicators, there's always the issue of knowing how and when to use them.

The hash ribbon is an indicator that usually prints a buy signal when it seems like a good time to buy... But before this, it first prints a 'capitultion' signal during a preceeding selloff. It usually prints a buy signal roughly 2-3x a year... Whenever it does, betece usually goes on a significant rally in the coming weeks/months... First, it prints a capitulation signal after a proper betece selloff and after a while, it then prints a buy signal. Most times, price does not go so much below the point it prints the buy signal....
For those who have a trading view account, it's worth searching for it under indicators and looking at how it interacted with price in the past. It's difficult to explain it without seeing

With this last selloff, it printed a capitulation signal... I don't always wait for it to print the buy signal before scaling in as prices may have started rallying by then.

Those who know my trading pattern, know I hardly day trade. I focus more on the HTF as I believe most money is made or lost on those big moves. Also, most of my risk management involves knowing when to deploy fresh fiat into the market... E.g, someone who bought betece at 19k is not so bothered if the price is 52 or 55k now as compared to someone who just bought...

Reason I said all these is cos I've mentioned here before that whenever betece retaces to the 21 week ema, I'd deploy fresh fiat into the market. (Last time I put in significant new money was in January then recently was much smaller on xrp). That ema currently sits at 45k but it looks like it was frontran on the last dip at 47k... With the hash ribbons now providing confluence, I'd start looking to scale in on dips... Hopefully, it gets to around 48k again... Most times, with such moves, it wouldn't matter whether you bought at 49 or 52k... Infact looking back, you'd wonder why you were stressed with limited price action at the time

OpenHeaven2019:
$TLM

Jedisco and Sailor1 look at $TLM charts

Looks like its a new coyn... Just 3 weeks on B.. Not enough historical info to say....
As with all newly listed coyns, I play them thesame way. If the project is one that I think is sensible (e.g dot and uni when they launched), I wait for the initial pump and selloff to finish before I slowly scalein and watch how it holds structure in usd and also against majors

Ibime:
Looking for oga Sailor1 jedisco analysis on market, found out spambot banned both his accounts

Abeg priceaction and co should help us with TA on the market

Quoted same post on both accounts after editing words I thought were flagged... Spambot dey tire person...

Typical Betece again bounced before the 43-45k level where everyone was waiting for leaving folks chasing.... Now folks are hoping for a pullback to 50k to re-enter...lol... This market no easy....well betece rarely gives the perfect retrace...either to little or too much...

Didn't fill some of my low bids on alyts I was hoping to fill...
For now, I'm currentl playing alyts in their previous range and looking to catch proper breakouts... Also got cash in hand (as always) to add on retraces

Seems your unlisted coyns have been doing you well

Malix:
They are reading from the sidelines.
This thread Don turn to shitcoin thread

Lol... Seems everyone wants to go to the moon

AIT1:
Where is Jedisco Sailor1? I don miss boss analysis o. Chai!

Brother I dey.... Got banned by antispam and also had to sort stuff out.... The good thing is that this market is 24/7... E no dey run go anywhere

Loverboy3333:
What about eith? any hope for quick bounce?

Eith has been strong for a while... It should recover quickly when the dip is over

papiforreal:
What coins should we buy at this dip please?
Just jumping looking from one coin to the other.

Any coin u trade... Advisably limit it to 2-4 performers

For the first time in this bullrun, betece is 25% down from the highs......
Don't forget, we're still in a bullrun.
If you were waiting to buy a dip, you might want to start placing bids....

Selling pressure is getting diminished... Perhaps, one more dip to cause a capitulation.. buying pressure is slowly building

I've spoken about the 21 week ema for long here as a support of any bullrun we'd eventually retest...
I believe it's pretty much locked in now...

Got bids on betece there and low bids on some alyts... E.g bids on .82c and 0.65c on xrp

For those asking, this is the first proper correction since the retrace from 12k to 10k.

Also, around the 21w ema, betece will usually outperform most alyts. It might be worth sticking mainly to betece now and stop trying to catch the alyt bottom... They're likely to keep bleeding for weeks even when betece is stable...

With all said, don't forget we're still in a bullrun, dips will be bought quickly...