₦airaland Forum

Chaos....
Who can define a shitcoin....

With bitc0in looking this way, I got some low bids set on certain coyns... Just incase betece dips and coins wick quickly below....

condomuser:
BeTC bouncing back up is expected but there has to be more adoption by institutional investors or boost of confidence by the likes of Elon, left to whales they will ground BeTC to $10k within a week with billions of $ going into alts, BeTC's market share is getting slimmer.

Most analysts are saying BeTeC could go 40k, 30k or 20k before heading for the moon. Whatever happens we all have to stay alive to witness it.

While institutional investors are important, most of their buying is not done in the open. They may very well be stacking bids...


What people forget is that bitc0in has gone from roughly 10k to 60k in 6 months, a red month would happen sooner or later. Not necessarily cos of anything rather than a healthy pullback and folks taking profits. Bitc0in goes up and down as people buy and sell. Just it's usual character....
If you look at the price chart of bitc0in since inception (attached) it's been doing same long before Elon bought his first bitc0in...

Money flowing between betece and alyts will always happen... usually at 3-4months interval... Sooner or later, betece will do it's thing and take over dominance... Most whales selling betece into alyts, convert it back to betece once they've booked profits.
Bitc0in would usually do what it wants but always has a way of tricking the majority (at least short term)

Logged on to twitter and saw these... hehe..

New folks trading unlisted coyns should stay safe... Seems those behind some of them are engineering exit pumps....

In main crypt0, if whale swallow you, at least you fit survive for em belle until it vomits you.... If na sharks chop you, no hope....

BTW, who else has noticed that whenever a coyn becomes very popular here, give it two days, everything go scatter

nihilistjnr:
Sailor1 jedisco

What's your view on BeTeC's downward trend?

Is BeTeC on discount?

Betece looks sh*t... It closed below a critical support region yesterday and it's been cleanly rejected from this level so far today...
There's been constant selling pressure yesterday and today but two things holding the market so far are
1. Huge buying pressure below 52k... When it dipped below there overnight it was quickly boughtup... I believe that demand zone has not been depleted but then its hanging by a thread.

2. Eith's strength.... It's clear why after sometime in this market, we begin to respect eith... It's the only other coyn that can hold up the market when betece starts misbehaving.. Unfortunately, I'm not well exposed to it now.

The technicals show betece is stuck between 2 hard places (lost support above and 52k below). This is the stage of the market where I sit back and watch what happens.

Regarding if betece is on discount or not....

Look at it this way.... traditionally, my best buys in betece have been on a day I blindly bought strong support when everyone thought it'd dip further... We're still in a bullrun... This selloff from 64k to 52k is 20% already... With every betece dip, majority keep asking for lower until it reverses...

42k, 52k e.t.c are all strong support zones one aim for on the coyn... Betece will usually respect structure.

There is no free lunch in this market... And the market never gives the majority what they want... Few days back, most (including me) were bullish with bitc0in at 64k... Look what it did... Now most are bearish... Lets see what happens...

So in summary, if I had fresh cash for betece, I will undoubtedly buy some now. If we dip below, fine I add up.. usually, I'd aim to add with every 5-10% dip lower.. Good thing about such strong levels is that even in a selloff to say 42k, it's only a matter of weeks before betece knocks on 52k again. You can then sell if you wish to.... That's largely the difference between between betece and alyts... One can buy 'blindly' buy betece at strong support

Vlyrics:
lol... After taking two bottles, I got thinking, can't we create our own coin, lol Africoin. A coin with just 200m units. 20 percent of this coin will be used for humanitarian purposes in Africa? lol... I don pitch my idea. lol... charity coin kinda. The coin will be used as a means of payment in Africa and only African governments that support it will get these 20%
Ibime, Jedisco, Sailor, et al, how una see this idea?

Hehe... Don't have the technical know-how my brother

ApostleBlack:
@jedisco, @ibime, @brokerharuna and others

Please what is a good entry price for BNB at this stage of one leg up already. Should i wait for breakout or pullback or how should i play this.

It's for you to determine.
It's currently dealing with resistance around 600- 620 ish...
Generally, I prefer to buy support (which is around 530-540) or a flip of resistance.

Simplyaduke:
I haven't fund the account....still researching on how to find it since no one fit help o
@jedisco @ilegend....abeg come to our rescue o

How about p2p

Seeing an ascending triangle developing on vet....
These patterns have been quite reliable of late and ive seen them play out on the weekly chart of both eith(shared here) and ltc with targets cleanly hit

Ideally, with all fractals, (if not already in), it's safe to play them on a confirmation...i.e a breakout and retest (blue arrow) and not inside the triangle...
Alternatively, some folks do take some position at the trendline and add on a breakout and confirmation.

This is a 4hr chart, so you'd want to see a 4hr candle open and close above 0.26 to confirm a breakout (or at least an hour candle if you're worried stuff will move quickly) and also possibly signs of acceleration..
On the other hand, if it breaks the trendline (i.e candle opens and closes below), folks who want to short take a position and target 0.17.

For day traders or those on with leverage, putting a stoploss below the breakout region is generally ideal...

Regarding targets after a breakout, it should mimic the height/pole of the triangle (orange area)... That'd see prices get to 0.32-0.35.

AIT1:
Jedisco Sailor1 please can you tell us why these constants pull backs from betece in recent days? I believe something is wrong somewhere. Please, I dey always enjoy your analysis. Thank you

That's the market... Folks buy and sell and price is never constant.... It goes up nad comes down... Reason not to always chase greens...
Bitc0in has been relatively stable of recent and has spent the better part of the last 8 weeks between 50-60k...
For the past 3 days, it's ranged between 54-57k which is a 5% range.... Things look stable. I'd satrt getting worried if betece starts closes the daily below 55k.

For now, my focus is more on alyts. The recent stability in bitc0in price has caused alyts to rally and with eith breaking out against betece, chances are that alyts will rally more.

If folks are happy to buy coyns on the day they're all in green, I see no reason not to buy when most coyns seem to be retesting support and look hot

CryptoMatic:
They will definitely pay for their sins

Hehe... Sins? Folks go chop u o

Some people have been waiting for us in crypt0 to pay for our 'sins'
Even in crypt0, some who trade betece wish same for those who trade alyts... I have a trust wallet account and tinkered with some of the coyns there in the past....
My own focus is to make and keep the money

IyaTola:
Sense will not kill you, but you are shouting, let them be, they will come and tell us their experience.

Hehe... Folks are making good money from it though moreso those who went in early. Just noticed a few sound like they're going in with their whole portfolio and looking for yhose to add on... Finally, we're all adults

Seems na unlisted coyns dey reign now.... Hehe...
How quickly this market moves..

Mk people enjoy crypt0 as they see fit but also remember that portfolio allocation is part of risk management...

My concern is that I'm seeing a good number of people putting their whole portfolio into unlisted coyns hoping to do multiples in no time... While easily possible, people should remember such volatility swings both ways... 10x up can also be 10x down or even zero in no time.

If you think the alyt crypt0 space is easily manipulated by whales, the unlisted space is full of sharks with very little water...

I'm also observing the space... But I want the current hype to cool down first let me see what's left...

The 4hrly support has been breached on doge... Now playing bounces off the 6hr support...

Opened a small swing position here...hehe...knife catching they say

jedisco:
A bit sceptical about doge eventhough it seems to have held well against betece...
Reasons are its at resistance and with everyone talking about it, the trade is overcrowded..

While I still hold my doge buys from 0.37, I rather changed by betece into bnb

Doge confirming my scepticism and showing what whales can do to willing retail.

Was stopped out on this at lil loss

Interesting thing that it closed the last candle below the 4hr support band. Last time it did that, doge was at 0.05...hmmm.... not yet confirmed as resistance though until the next candle closes... But its now clear this last rally was bearish with the lower RSI. Overallnot looking good moreso with alyts rallying...

If still trapped, no need panic selling at these levels... There's still good liquidity in it and bounces will happen

3 things I'm looking at...

1.. 1st pic- 4hrs to close of the daily candle but it's turning out to be a good and powerful one... The 50d ema at 55.7m has held for 3 days in a row... Buyers have held the wall... Good reason to believe that resistance at 58.5k and 60k will be tested in the coming days before further attempt at breaking support

2. 2nd- Eith has broken out above betece... The 0.04 level is a significant one for eith against betece... Let's see it it can flip this level i.e bounce off it and accelerate... But things are looking good for alyts

3.. the doge pump seemed to have brought new euphoria into the market... And doge traditionally pumps before a general alyt rally

All these make me think a shift has happened... A time where I usually take positions to hold onto for a while till targets are hit..

BTW, dded more to my positions today (as coins seemed to be kn a discount). Also took a fresh position in bnb.... Ready to ride the rallies and cut gge laggards...

May the coming days bring more joy

jedisco:
Doge.... Hmmm

Looking more like its going to breakout against betece... If it does that, the usd pair should follow......coin is defying logic

Another bouncy coin is bnb... The Betece/bnb chart is beginning to coil up again.... Converted some betece into bnb at 89 sats... Looks like a runback to the highs is only a matter of time.

Bnb.... Thanks for coming....

Before and after...

Flip 600 dolls on usdt and a breakout on betece and I'd add more size...
In the meantime, might cut my position at resistance to add lower

Notyamate:
Today na $Doge's day.

I just dey look BnB with one eye, e fit breakout anytime

A bit sceptical about doge eventhough it seems to have held well against betece...
Reasons are is at resistance and with everyone talking about it, the trade is overcrowded..

While I still hold my doge buys from 0.37, I rather changed by betece into bnb

nuelsylves:
Jedisco, Please I'm looking for a co1n to buy and hold today, any recommendations?

Please, I understand that I'm solely responsible for decisions based on your recommendations.

I usually don't day trade... Also, if you're searching for what coin to buy today, then perhaps you shouldn't be daytrading too...

On coins, sorry I don't give specific recommendations... I share what I'm buying or coyns I think would do well which I've done for sometime... If you find them helpful, then no problems

Coins I feel have held up well this dump are doge, vet, bnb...

With 55k holding well on betece, I expect these to be move well if betece pushes up

dogtails:
Bro in simple sentence are u saying DOGE will pump or dump??

Asking me if it'd pump or dump is like asking me what time nepa will bring light... No idea

If you mean how I'm trading it, it's simple...
Got in after the failed breakdown and bounce off the hourly support at 0.37... (1st pic)

Reason is cos its shown strength against betece and flipped the hourly block of resistance at ATH (dotted line on 2nd pic).. If it starts accelerating against betece then usd should follow. My plan is to add if it gets a clean breakout on the betece chart

Another reason is cos of the huge liquidity.. with a good enough entry, exiting wouldn't be an issue if it starts breaking down...

Doge.... Hmmm

Looking more like its going to breakout against betece... If it does that, the usd pair should follow......coin is defying logic

Another bouncy coin is bnb... The Betece/bnb chart is beginning to coil up again.... Converted some betece into bnb at 89 sats... Looks like a runback to the highs is only a matter of time.

JhyMedex:
Boss, with the ban I can't fund my account..
That's why I'm asking for an alternative..

Even with p2p?

JhyMedex:
Boss please could you help me..
I really need to buy some Doggie..

You can buy it on any exchange of your choosing... But then, if you need to ask where to buy doge, then maybe you should not be buying it at these levels.

P.s... seen this happen multiple times here.... Usually doesn't end well...

Cannicus:
Seems you prefer btc pairs to usdt pairs?

To grow or hedge your betec value, or cos it's more stable?

Betece is the benchmark for alyt traders... If you're not growing your betece by trading alyts, then ots better to just sit in betece.

Also, sometimes, I use a coin's chart against betece as a to determine entry and exit points when it's not so clear on the usd chart...
During a dump, if a coyn holds well against betece, then it'd rally in usd once the dump settles
Most tomes, when a coyn breaks out in betece, the usd pair follows...
The Betece pair for most alyts can better historic data especially when its in usd price discovery

Xrp/betece... Looks to me like a retest of previous resistance turned support with good buy so far...

Let the dust settle, I'd look to convett some betece into xrp..

My only concern is that the xrp trade seems to be getting crowded with lots of folks in... Hope it does not frustrate them further

Ibime:
What are we doing with Doge boss? Keep riding?

Those reddit boys are pumping, I don't know whether to scalp.or ride with them.

My brother, i closed all my positions at 0.394... Stuff is still pushing... The demand is hugr... No need betting against a raging crowd but I'm playing this safe. I can get back in but I want a clear breakout first.


The issue with pumping crypt0 is quite different from stocks... On stocks, they had institutions which were shorting and they could bet against... With crypt0, it's different... Everyone is out to make dough.. They tried it on the last pump and failed horribly...

Nothing attracts whales like sure liquidity... In the early days of crypt0, they could even artificially push up price at huge cost just to ensure liquidity when they sell their bags... Look at it this way, someone can convert 1000k betece into doge and after a 50% move, market sell and have extra 500 betece...and that's on spot... Imagine multiple people doing this... To market sell 100betece with little slippage, you need ready buyers.

Also in crypt0, folks benefit from such pupms both ways..i.e they can long or short...so everyone dey watch how to benefit.

Chart-wise, the rsi (pic) is quite impressive it seemed to have bottomed on the last dip.... I.e alot of selling was absorbed.. Which means some folks bought heavy (maybe retail)

I'd be watching it's movement and may look for how to get in if there's a clear break of 0.5... I used 0.5 cos if too many people short at 0.4, we can have a short squeeze (i.e price rallies up to crush shorts them before crashing down). Otherwise, I play it safe with bounces off moving averages.

Let's see how their planned pump tomorrow goes, but I don't think it would not end well... Wouldn't be surprised naive folks get dumped on... Eitherway, with such liquidity, my plan is to benefit whichever it goes.... doge is making 10-20% moves look like a walk in the park

Sailor1:
doge/betece looks to have held good structure

Converted some of my betece into doge at 550 sats.... Target is 640 sats and maybe 700 sats (quite wicky)... Atleast, that should cover the drawdown from betece I bought above 60k....

Obviously, if it can create a new high against betece, it'd do that in usd

Obviously, after such a rally, trades on doge come with increased risk.... But then, doge held very well during the selloff.... And there's still good liquidity in it as folks are relentlessly buying

Thanks for coming...
Both targets hit and profits taken...
Doge still pushing though... The crowd is raging on this

afroxyz:
I know you wouldnt touch NSE with a 10-ft pole

Not necessarily... I'd trade in any market I understand and one that also has a bankable and tradable structure that has been proven overtime...

I'm just being open minded... New people in the market could come across your post and rush to buy Guiness stock thinking its a good performer and hoping it'd continue to rally upward. Very few will bother to look at what its historical performance has been. Of those that look, some will still buy hoping to be the heroes that bought when the stock was 30 naira and looking and hoping for the days of 200 so they can brag about buying the lows-

The fact is that momentum is hard to break in markets, moreso one that has gone on for over 5 years... Just by historical performance, its much more likely that Guiness stock will sell for less than 15 in the coming years.

Following your initial post, it dipped over 30%.. of course markets have pullbacks which are generally healthy for a rally. But that just puts things in perspective for someone who rushed in then. Given the company has been posting losses as above, one would wonder why the stock price rallied so much... Or was it just some manipulation?

A similar narrative was shared a while back about the NSE being the best performing stock market worldwide. Of course people hung onto that forgetting that the article was based over a year which is a very short time in large markets... Though not as bad, that narrative is similar to whats going on with Guiness

emmanuelewumi:
They have been making loses for the past 4 years, the sector is highly competitive

The duties, taxes and levies introduced by Buhari is killing the sector. Upon the reduction in profit margin, staff costs are increasing.

Except you are a trader, I don't think an investor who wants to live on dividends will have this stock in his portfolio.

Though I don't have details of the financial performance of the company, one would think that for such household names, they should at least be able to maintain the price of their stock overtime... Even if its relatively stagnant. Or at worst, bleed slowly. I really do think that apart from their poor earnings, there's some degree of price manipulation going on there

Most new folks in a market, will gravitate towards known popular companies as they'd think they'd likely be be in business for a long time.

jedisco:
Doge.... escape velocity....

Let me use the doge chart to illustrate something... There's been alot of talk regarding news vs charts... While I believe both are important for more accurate analysis, I tilt more towards the charts... That's cos they tell the accurate story of what happened between buyers and sellers on the trading table

Folks said Elon pumps doge.... While he has a huge following which was helpful to prolong the last pump, he's tried multiple times over the last 2 months to repeat it. Anytime he tweets, there's a rally that's sold into... But then, from the charts, it was getting clear that sellers were getting exhausted...which resulted in this breakout....but before that, structure had to form.

Now there's been a breakout, if he tweets about doge, you can be sure the rally will be huge... That does not mean he's the one that caused it... The structure was already there....

That aside, like I said in a crypt0 bullrun, there are 2 pumps you don't want to miss... Doge and xrp... One will pay you in 2-3 weeks, the other in 2-3 days... Now it's clear why I've been waiting for the rally...e dey give joy

While I've tracked the breakout on 3 out of 4 main doge rallies over the past year... My regrets on the 3 were that I sold too early... I sold at roughly 50% and I learned the hardway....

Thus is not financial advice, but if you got in before 0.09, then you were early (you enter bus for park) and deserve at least x2 before exit.. I expect volume to rise today. That said, don't be greedy... it's easier selling on the way up.

Regarding targets, while it's hard to time a parabola (which this is) the chart against betece (2nd pic) could be a helpful guide... Taking some profits near the last high against betece wouldn't be a bad idea...

Already 2x
Good strength from doge with breakout above betece.. currently in price discovery both in usd and against betece...

Undoubtedly, this rally will end like one of the numerous nasty wicks it's had in the past. But in some rallies, knowing when to relax and let the market do its thing is also important...
Some people who sold earlier would later FOMO at the into the wick at the top.. market shows no mercy..

I have no plan of short-changing myself this time around...like I said, if you got in before 0.09, you got in early... Let the FOMO tide lift your boat, no need overtrading it... Sometimes, think like a whale