₦airaland Forum

teewhysafe:
@Jedisco...thanks for this. What do you mean by locking up profits in BeTC?

Same way you trade into usdt, you can also trade into betece...

Rationale is that betece is the market leader so if your alyt is not performing better than betece, you're better off holding betece. Most older folks use alyts to accumulate more betece

So how am I planning to play this.... Obviously, there's always a risk in this market and betece can tank today leaving us pants down

1. If betece maintains a breakout (may not), like I said before, the range upto 66-67k ish is where I expect alyts to really pop... We know there's always this psychological barrier around whole sums and once betece starts approaching 70k, I'd prefer to be in betece mostly to protect my profits.

2. Look at XEM, that's how alot of alyt charts will look soon. We've seen that it doesn't matter how much your alyt has pumped, a proper betece correction will wipe profits. For those new here, weve not had any proper correction this year...trust me...all we had are minor pullbacks.

3. We've seen multiple coins follow same pattern... Break ATH, come back to retest it and then rally. It's much easier for a coin to ho parabolic once its broke ATH.

4. To maximize profits, I'm focusing on coins that have broken ATH.... I shared some coyns I track before, and those who've fulfilled that criteria have really moved. e.g One and theta. Also, most coyns are getting into their 5th wave which is usually the steepest
Among those I've tracked are;

VET; broke previous high at 0.06 and retested it... Now rallying.. target is
Sushi: broke previous high at 20 and retesting it... Target is 40
KSM; nice new coin. broke out of 270 ish.. Targeting 500 on this
Uni: currently retesting breakout at 39... A rally to 40-50 aint out of the cards
Zil: broke previous high at 0.15 and currently retesting it. A move to 0.3 isnt out if the cards
DOT; yet to break out of 40.. but it's one coyn I may be in when Betece rallies... I've noticed it keeps up. Targeting 60 on it.
Theta: been in this since 3.5 (taken some profits).. if it can get above 8, I'd hazard a guess that it could get to 20
Doge; not so sure if it's had a 3rd rally or not... If it's gearing up for one, then I don't want to miss it... Either way, we'd soon find out.

Obviously, I didn't include some like ONE, Celr which I believe have moved.
Coins I'm interested in seeing how they interact with prev highs are Link, GRT and SRM.

For ADA and bnb, I'd only be interested in them on a break of previous highs

Also, my targets are rather conservative.
My list isn't exhaustive, it's what I follow I trade.. if you have a coyn giving you profits, then stick with it

5. Why I chose those I think are ready to move is cos I want to cycle profits into betece relatively quick once it starts getting to 70k. I can reevaluate then.

6. One thing I'm struggling with is eith... It's very likely it'd rally... Only problem is I'm trying to guesstimate what time... It's rally signifies alot in this space... Will keep monitoring....

In summary, like I said, there's always a risk in trading. Things may not always go as planned but with stuff becoming more and more volatile, making profit isnt the issue... Rather keeping it is. When betece corrects, I want to have good profits locked in and not see profits of the past months evaporate.

First, I'd like to outline somethings.

I'm not advising anyone to follow suit. Just sharing how I plan to trade this range. Also, one can say what betece will do the next moment so we make projections based on learned experiences.

Some thoughts

1. The market has become more volatile on the move up. We've seen steeper rises and even steeper selloffs. I expect this to continue until we get to the top.

2. Betece usually gives 2-3 opportunities yearly to make good profit. This year has been heightened cos we're in a bullrun

3. On 2, the market has been in a continuous uptrend for past 3 months, all we've had are little pullbacks... Perhaps a larger correction might be in the offing. One that would reset the market. Last time we had such was the pullback to the 21 week ema at 10k. That ema usually serves as a bull market support. Currently sits around 37k.

4. I look at lots of alts and I see a top calling. I'd share some pics on this later. But If you look clearly, you'd see those running are in the 5th stage of a likely 5 wave rally (3 pumps and 2 corrections)... Usually, a larger correction ensues afterwards..

5. On the last breakout, we've seen that once betece starts rallying, alyts suffer. I'd say that the range from here to about 66k ish should be the sweet spot. If betece starts approaching 70k, then likely betece may take over.

6. We've seen betece roughly double its previous range with any breakout. From 20k, it doubled to 40k. Came back yo retest 30k and doubled to 58k. Now it's bounced off 43k, I'd hazard the top of this current range to be at around 85k ish. I personally wouldn't be waiting for that level... Will be averaging out profits we b4 that Things will move quickly and as we've seen, the market can quickly go parabolic and keep running much higher.

jedisco:
@house, with this betece breakout, seems we're getting into another move in this run... It'd be good to share ideas how you have it planned out... take profit, manage risk e.t.c so we're not left pants down if a correction occurs

I'd share mine later on (tied up at the moment)

My weekend has been hectic... But I'd do this in posts from time to time

It's interesting how this thread becomes active when betece breaks out. All man likes profit

Ibime:
The run to ATH was done on Saturday by retail investors and had little volume behind it. Institutional investors will most likely try to drag it down to their preferred entry points on Monday

I'd say it's about evenly split for now though I'm leaning towards the upside.

Even if it's retail driven, it's not necessarily a bad thing. It's bound to occur. As a matter of fact, I'd say that's why institutions were buying all this while before retail takes over.

Institutional investors bought at 43k when retail caputulated. I don't think they're interested in selling their bags to bring down price just yet.

Throughout this run, betece has never gone back to retest any range breakout price both at 20k and 42k. Doing that now may mean a not so bullish scenario

Fact is, for betece accelerate, there have to be alot of people on the sidelines waiting for lower prices that would be forced to FOMO. On this last run up, people have been waiting at 42k, 46k, 48k, 54k and perhaps to at 58k. They are the ones that'd FOMO to push price up.

Betece is not always merciful to allow everyone fill their bags before it moves....moreso in a really bullish market

On the 4hrly chart, I'm not expecting betece to go below the 4hrly breakout candle that started at 57.3k to remain really bullish. Going that low may mean we nuke further down to clear all the stops below. Also, looking at the RSI, a bullish divergence is already being printed (equal lows on the RSI, higher lows on price). Lastly, the 21 ema which it's been bouncing off is rising to meet price. I wouldn't be surprised if it bounces off it again.

I'm saying this cos it seems you've been second guessing this whole betece move up. Hope you don't finally buy at the top. There's no harm in being ready for either direction or perhaps averaging in with bids down to your target price just incase it does not dip further.

Looking to dispose off my remaining sxp but it's weekly chart is as close to a perfect 'cup and handle' as you'd get. Perhaps, it might finally shoot for the highs

Similar formation on the doge hourly chart but not complete yet

EarlyCareer:
You called it, boss. Sold a little into ETH. Bought MANA, and CHZ, made quick profits and sold. Bought back theta at $6.5. May buy CHZ again but it still correcting for now.

Theta seems to have started another uptrend again. Heading back to $7 and more. Abeg check charts for us if you can.

Good profits you've made. It's been a good bounce so far.

The selloff from 8 dolls on theta was significant... I'd be watching to see how it deals with that level. If it gets above 8, then 10 and 20 could be within reach...
There's something about coyns that start running from 3.5-5 dolls ish... I've seen quite a number of them run to 20dolls this run e.g dot,sushi,uni

jedisco:
Might just cut this...... A betece breakout wasn't good news for it. On the hourly, it's hanging on for its dear life. Not convinced with the bounce so far

Glad I held on to this. The dip turned out to be a retest on the way up. Looks like it wants 1 dolls....eitherway, I got my sell bids stacked all the way up. Nice move in 24hrs

carik:
Thanks boss, will steadily just dump some of these coins and focus on BTC,ETH,BNB and say 3 other alts

Not bad... For bnb, I'd only be interested if it breaks out of the current range i.e 340-350

solreb:
Same here. I continue to close positions and be ready rto buy dips of coins I am familiar with. Patience is a virtue. Those days of reds in Feb taught me a lesson. I am of the view that BTC may do a run to 65k and then pull back to consolidate around 50k by which time the alts will follow the dip and create a buying opportunity. So one needs to be ready.

We broke out of a consolidation range... A pullback from 65k to 50k will be bearish for me. The worst case to retain a bullish picture should be a retest of 58k and a wick to maybe 55k. Personally, I think that's unlikely. Just like when we crossed 20k and also 42k and held, we should trend significantly higher before we see these the 50's again...

Like it or not... Crypt0 this year has been a gift... Let's make use of ut while this run lasts

@house, with this betece breakout, seems we're getting into another move in this run... It'd be good to share ideas how you have it planned out... take profit, manage risk e.t.c so we're not left pants down if a correction occurs

I'd share mine later on (tied up at the moment)

carik:
I noticed that buying into too many coins makes you even lose cos you can’t track all
I was better off doing BTC and ETH until all these juicy “buy this and buy that” it’s going to the moon.
How to split funds in portfolio is another big problem some of us face ...
I see my mistakes but steps to correct I don’t know ...

Hehe... I also struggle with same issue.

Fact is one doesn't need to be in too many coins... You quickly lose track... Select the best 5 max and be in them.

I've been steadily closing positions over the past week

jedisco:
Nothing to feel bad about... Ada is a strong project that has brought me significant profit...
Those complaining are the ones who didn't take profits at ATH or those who hopped in after it had done over 400% in a month (1st pic) thinking it was going to the moon.

Any strong project will consolidate after such a powerful move up as folks look to take profit.. That period may be consolidation or distribution... That's why I only look to enter at the bottom of the range or breakout and retest from the range.

Looking at the 5hrly chart (2nd pic), levels are very clear. 0.8, 1, 1.2, 1.4... once it loses a level it becomes a resistance until reclaimed. Good thing is that it's currently resting on the 21 daily EMA... So a bottom around this level (1 dolls) isn't out of the cards

On this, It can be interesting how these coyns behave around support and resistance levels. Even if you don't know much about charts, recognising support and resistance zones will save you lots of stress.

Ada had a strong bounce off 1 dolls and a wicked selloff at 1.2 dolls (1st nd 2nd pic). Currently sitting in the midrange at 1.1-1.12... A flip of that level should give it another stab at 1.2. With a breakdown, you know where it's headed. Some traders live on structures like this.

Another advantage of outlining such zones is that you know where to buy and where to put your stops. Buying in the middle of a range will mean your stops (if u have one) will likely get hit before any significant move up.

Interestingly, on the ada/eith pair (3rd pic), that bounce also corresponds to the 0.056 level which was previous resistance all these years and should now act as support... Personally, I think it'd hold that weekly level

jedisco:
Got me some fet at 0.55... I like the structure it's forming... May be a short term play

Might just cut this...... A betece breakout wasn't good news for it. On the hourly, it's hanging on for its dear life. Not convinced with the bounce so far

Ibime:
How should we be playing this movement? Wait for dip?

On the hourly chart, it broke out of an ascending triangle... A good entry will be a retest of previous deviation at 58k ish (red arrow)... That would be quickly bought up if we get it...

The issue with such strong breakouts is that it may keep running before any significant stall. This would likely be the case if it takes 60k. We may be looking at 63-64k before any pullback.

I don't chase pumps but it also depends on your exit target. The difference between 58k and 60k is about 3.5%. Not so huge in this space moreso considering the potential upside.

For me, I'd be waiting for wherever it stalls before I start moving alyts into it (already have some betece and dot as a hedge)... We already know what a trending betece does to alyts.

mogreen22:
stimulus checks don hit

Perhaps... But I don't focus too much on the news. It's traded worldwide

This breakout was cooked in the previous pullback and strong buy up between 44-48k

Betece....Strong breakout on huge volume..... Lets see the hourly close... Dips are for buying

jedisco:
Have no idea why matic pumped...

Either way, I grabbed some celr at 0.036...
Matic, celr, fet, sorta move together

Quite a number bullish formations in alyts... Good number seem to be bouncing off their 21 daily ema.... A stable betece should do them good... That said, betece seems intent on taking 48k... But it still remains resistance until conquered

Got me some fet at 0.55... I like the structure it's forming... May be a short term play

jedisco:
Sometimes, when a coyn breaks thru ATH, it comes back to retest that level before accelerating.

I see vet, uni and one currently doing that. Also ksm

Aside those, I'm slowly getting into dot as it's one coin that seems to run with betece.
Also looking at Sushi.... It usually lags uni.
I've got some doge for obvious reasons

Coins I may be interested to get in if they break ATH are zil, grt and srm.

My initial targets on vet would be 0.09-0.1, uni: 45-50, ksm: 450-500 and sushi: 40. Obviously, I'd be monitoring market conditions too

Interesting how these coins have lifted...

Felt good to get some exposure in sushi and uni at 19 and 30 respectively b4 their bounce. This is my 2nd - 3rd trip on them. First trip from 5 to 20 was a good one

Zil broke through its previous high at 0.15 (where I sold). Was rejected at 0.2 and like the others is currently coming back to retest the 0.15-0.16 level.. considering taking a position.

Another coin I'm slowly building into is DOT.... Should serve as a hedge on a betece breakout as its a coin that I've noticed keeps up with betece when it's really bullish.

Concern now is that I don't like betece hanging around resistance too long... Also I see alot of staggered levels and stops on this move to 58k. Betece would traditionally want to trigger these stops and wouldn't be surprised if a quick pullback clears them out. I'm exercising some caution on my alyt entries with stops until betece decides its move...

jedisco:
Have no idea why matic pumped...

Either way, I grabbed some celr at 0.036...
Matic, celr, fet, sorta move together

Quite a number bullish formations in alyts... Good number seem to be bouncing off their 21 daily ema.... A stable betece should do them good... That said, betece seems intent on taking 48k... But it still remains resistance until conquered

Celr was a good choice....50% from entry on celr...
Was sensible to cycle some theta profits into it...

Fet seems to be lagging the bunch... It's not a coin I traditionally play. May look at it when I'm done with celr

jedisco:
Personally, I dont bother so much about the news... I focus more on the charts... I believe the news most times are already priced in

When something pumps very quick, the dips are also quick.

A measured move on the eith chart shows there's been an average of 35% increase between the last 3 peaks. That should correspond to between 0.0042-0.0044... I'd be looking to take 25% into eith at this level and watch what happens. Generally, I prefer taking profits on the way up rather than on the way down

This aged well..
It stalled perfectly at the 0.044 level.
There seems to be a possibility of another move. It's holding the 21ema on the 4hrly chart as support with a good bounce. I wouldn't sweat it though.... Was good to take some off the table at desired levels

plot697:
Gentlemen, no one can claim full knowledge of the stock market. Right now, stocks are yet to get to support levels. Any investment made right now is most likely going to make losses. Wait until first quarter results are released. That will give you insight into the direction each quoted company, the NSE and the economy is headed.

I sold off my entire portfolio early January. I'm waiting until stocks get to support levels again. Be smart to know this period and enter.

Kudos if truly you sold in January. You timed an exit pump perfectly....

PharmAlfred:
Nothing supports the bear we are experiencing in the market. I know the market can be irrational.

1.On paper, we just got out of recession
2.Covid is coming under more control
3.Oil price is up
4.Companies are churning out decent profit and declaring reasonable dividend despite the challenges of 2020. One would think a bullish run should reward our companies for being resilient despite very obvious challenges of the past year.
5. The economic outlook for 2021 is even better.

What else am I missing? You can add your point.

It's missing the most important component that determines the longevity and robustness of any market which is investor confidence.

An average American and even folks around the world with little investment knowledge can throw in their savings through their active years into the 'good stocks' in the US stock market with good confidence that in time, they'd make good profit. For the past decades the market has come through for them.

How many Nigerians can do that with the NSE? The people who really move a market are not the active traders here but those who 'forget' their money in the market and let it do it's thing. Skillful investor or not, only a minority of traders/investors perform better than the underlying performance of the market they trade in.

Nothing stimulates the average investor like saying, I bought this for x amount 8 years ago, 'forgot it' and today, it's valued at 2-3x...
Sadly, the NSE has been in a perpetual downtrend for over a decade. Combine that with the fact that in that same timeframe, the naira has been devalued by over 300% against the dollar then even the very savvy investor will start second guessing.

Cowbell521:
That coin go cause chaos within a week or 2. Mark my word

I'm not disputing that... Any stuff can cause chaos. I'm just saying that after such a selloff, if I was going to get in, I'd wait for stuff to settle, show strength and reclaim some levels.

EarlyCareer:
Boss Jedisco, ADA seems like a hyped coin sometimes.

For me, it is all about real user case scenarios, before future potential. I thought of buying this but skipped. Sticking to Eth as a safer bet for my core portfolio You're a TA guy so you may know better.

Any idea when eth will moon? lots of institutional guys lately. Some say July.

I wouldn't say it's hyped... It's a solid project, one of the very few coins alyts which has held levels against eith over the years.

I don't bother myself about all the'future potential' stuff with alts except on few occasions. I'm more interested in trading known stuff and get in when I see a potential.

Eith is the second biggest project in this space and will remain that way for a very long time. It's been sluggish of late and betece volatility hasn't helped, but in the end it'd do it's thing. Cant say when itd run moreso with betece threatening ATH, but it'd sure have it's time. Another laggard is Link. That one does its stuff when in wants to..

One thing you can do to increase your eith stash is to trade other alyts into it. Some coins like ada, theta, vet have clean charts against eith...

Cowbell521:
If XEM no cause chaos, I go post nude for NL

Are you really looking at the chart of what you're buying? Just hope you're not being propped up to buy distributed bags.

That's a coin that lost 40% of its value in a single 15minute candle today (1st pic). Whoever sold into that candle just started the carnage.

Looking at the daily chart (2nd pic) it's lost significant support levels on both moving averages and support at 0.43.. Though the day is not done and it can still creep back up, I'm not in the habit of catching knives on unknown projects... If at all I was going to get in, I'd be waiting at least for the daily close... Stay safe

R2bees:
ADA..

I feel bad for those holding that coin. Like they shouda at least pump small, that would give me enough courage to believe the hype around them!! WTF is 1.10, 1.12, 1.13 rinse and repeat. Seriously? even during a bull run? omo na winchi-Winchi coin be that. lol

Nothing to feel bad about... Ada is a strong project that has brought me significant profit...
Those complaining are the ones who didn't take profits at ATH or those who hopped in after it had done over 400% in a month (1st pic) thinking it was going to the moon.

Any strong project will consolidate after such a powerful move up as folks look to take profit.. That period may be consolidation or distribution... That's why I only look to enter at the bottom of the range or breakout and retest from the range.

Looking at the 5hrly chart (2nd pic), levels are very clear. 0.8, 1, 1.2, 1.4... once it loses a level it becomes a resistance until reclaimed. Good thing is that it's currently resting on the 21 daily EMA... So a bottom around this level (1 dolls) isn't out of the cards

Have no idea why matic pumped...

Either way, I grabbed some celr at 0.036...
Matic, celr, fet, sorta move together

Quite a number bullish formations in alyts... Good number seem to be bouncing off their 21 daily ema.... A stable betece should do them good... That said, betece seems intent on taking 48k... But it still remains resistance until conquered

EarlyCareer:
Sure. Will move some soon to eth and btc as mainnet v3 launches.

Personally, I dont bother so much about the news... I focus more on the charts... I believe the news most times are already priced in

When something pumps very quick, the dips are also quick.

A measured move on the eith chart shows there's been an average of 35% increase between the last 3 peaks. That should correspond to between 0.0042-0.0044... I'd be looking to take 25% into eith at this level and watch what happens. Generally, I prefer taking profits on the way up rather than on the way down

daywalker12911:
Chief why do you use Theta/Eth pair instead of say Theta/Usdt? what goes into the pair decision?

It all depends on market conditions and the tradability of the pair. Sometimes, it's into betece. But I like such clean actionable charts.

I use betece and eith cos I believe they'd outperform most projects in the long term and are also less volatile. Generally, I chart projects against those. If I think a coyn is not going to outperform betece, why hold it