₦airaland Forum

condomuser:
...

A lot of folks don't understand what it is and that goes for those who trade it and don't.

The value of an asset at a time is based on what people are willing to pay for it.
We've seen our initial bubble of 2017. The fact that within 4 years it's gone on to surpass the peak of that bubble shows where it's going. See the timeframe it took from most internet based companies to reach their dot com bubble valuation before it topped.

The underlying value of the asset is what's driving this run

bradwilli:
Omo 24k plus just to buy Ethy and then sell dame Ethy. Its d most expensive coyn i think. A whole 24k plus i no do ethy again

Where are you charged such rates?

IsabiTheWork:
Good morning everyone.

Please I need the advice of the senior men in the house.

I traded cypt0 in the past but had to stop (due to a compulsive gambling addiction), but I'm looking to enter the scene once more. Do you think now is a good time to buy? I was stunned when I saw Beteec sold for over 30k. Something lots of my friends bought under a millionaire back in 2016.

I plan on buying $6000 worth of beeteec (I'm in for the long haul). I know the risks involved, but I just wanted opinions from those currently trading/holding.

Thank you.

Stay safe.

It's difficult to say where the market is but most folks who keep waiting for the perfect dip end up chasing higher prices. No one can be certain of the exact bottom and top

If I had 6k to invest, I'd buy 1k at this price and see how price develops overtime. I prefer to ladder in longterm buys.

afroxyz:
Bros. On the weekly and daily charts (for BTC) we are having lower lows. Also MACD is showing increase sellers . RSI is over bought zones. All this are indicative of a downward slide.

The only thing that can push BTC past the 40k mark (in the ahort tetm) would be stimulus cheques. But if you are taking a year long view, BTC would perform very well. But now is the rime to take some profit and wait on the sidelines.

Let's see how it plays out. That's the beauty of trading
Yeah, we have had lower highs on the daily but the 30k level has been respected so far.

In charting the HTF, I prefer to keep it simple. Treat support as support until it's lost and resistance as resistance until claimed. I'm not as bothered as the stimulus per se.... These things flow in patterns.

This bullrun has been more bullish than the last. Dips haven't been as deep which is surprising. People are confident of a deeper pullback.


Most folks think Betece can dip to 20k, fill their bags and reverse. Except it's able to do that all that in a day but holding 30k as resistance wouldn't be easy to break and may mean further downside. See how difficult it is to break 36k which was a previous support.

I'd say it's unlikely betece breaks 30k without first taking the highs. Let's see how it goes and how the daily closes

RSI is tricky in a bull run. It's much easier to interpret in a bear market

Typically, I dont share charts but I'd share this time.
People draw and interpret then in different ways but once one works for you, stick to it...

One of the reasons I wasn't as perturbed with this drop was when I looked at my chart.

These charts extend back to the March crash. It exited that channel thru the top, got into another, exited it and is currently testing the top of that channel as support.
The pattern on link and eith is fascinating. They seem to have a certain relationship with betece.

There are two charts there, one is the daily chart (second) and the other a 4hrly chart (1st and 3rd pix). The 4hrly chart is to zoom in and see how price action works.

For those looking at learning to chart, take note of two things there

1. On the 4hrly chart, look at that candle that crossed the trendline. It's whats called a hammer or dragonfly doji. When you see that printed at a strong support, then you can relax... It signifies a trend reversal and that buyers are significantly present. The opposite is called a gravestone doji. You see that printed at resistance, take your money and run.

2. Second one also on the 4hrly chart is what just printed... it's called a double bottom. To me, it's a powerful patterns in trading. You see it when a tend reverse and usually confirms an area as support. The opposite is a double top.

It's worth checking these up online and observing them in charts. Also worth looking at 'head and shoulder' pattern.

Also note that the higher the time the pattern is printed, tge more stronger it is. I.e a hammer on a daily chart would supercede an opposing pattern on a 4hrly chart...


Now to projections; in trading nothing is certain, but as a trader, you have to plan your trade and trade your plan. The reason I didn't post this earlier was cos I wanted the daily candle (which also ends the monthly candle) to print. The next major resistance is the 35k level and to a lesser extent the 38k level. If we take these, then we should move out of this range. Exiting this range (i.e 41k) and confirming it as support could easily see us get to 60-70k. Sounds crazy right?

With the way eith is going, you can imagine what it'd do if that scenario plays out. That's why I'm excited on it.

It's always worth considering the opposite argument. The bearish scenario would be a heavy rejection and failure to take any of those resistances I mentioned. That may see us go down. Loosing this trendline would spell danger. I pray that doesn't play out

luvlyoracle:
I pray so o....its just like i have been missing out.

Hehehe... the oil go reach everybody plate..

A good way of building your portfolio is by taking part of your eth stash to get into smaller caps that are due a run. When they move, you take profit or go back. Though you need to know support/resistance to work this well

I'd give you a tip, if eith runs, certain coyns may stall.. coyns like link and Ada. Once it begins to settle, those would take off the next day or so and likely outperform it. You can look to make a flip at certain levels but its worth holding on in eith until it's moved well. After its moved, the main party will begin.

Hmmm... Why do I feel eith is about to lead the way

Wordgeddon:
Please I'm a long term holder and would really love to know what "profit on the go" means or "take profit as it rise" (can't really remember the term used here)

I bought Eith at $102 and it's now $107. Does profit on the go means I withdraw the $5 or any little profit that tops the capital each time I observe profit?

Sorry if my question is dumb. I couldn't help asking.

Thanks.

In a bull market, there's a percentage a coin would move you know it'd likely stall. If it's moved heavily in the past week/days it may be sensible to sell some so you could buy on pullbacks.

BTW, where did you buy you eith for 102.. or do you mean you bought at a rate of 102 usd per coin or you bough a total of 102 USD worth of eith?

solreb:
Boss you are on point with YFI. And thanks for the tip on UNI. It has same chat pattern like AAVE I have truly learnt on this platform along with tips certain althys (LINK, YFI, 1INCH, AAVE) which have netted some profits. The house can also put XVS on their watchlist. It has run over 50% today.

Eith is getting me super excited. I believe it's about to take the stage and may squeeze other altys. It could easily be x2 in the next coming weeks/months. I'm patiently waiting for the daily close

I'd look into XVS and see what it's chart says. But if it's gone 50% today, it may be sensible to switch into late runners esp eith

solreb:
Good day house, pls put AAVE on your watch list. It continues to break ATH. I have played it twice and sold last port9pn last night at 217. By this morning it had made a run to 230. And as I watched for a pull back to go in agaiin, it just made a run to 254. I went in at 175 and 195

Good profits... Kudos

For ATH, I use it's last high before a correction... For Aave, its previous ATH was at 95. It's from that level I guage the upside. It's currently in what we call price discovery. No one can say what the current ATH will be until it finishes this run and gets into a major corrective phase. It's usually something said in retrospect.

Usually, some of the early runners cool down and let others catch up after a while

aliadi2:
Hello jedisco, happy Sunday . Can u please elucidate on the bolded cos i am new in this crypto and i open my account on binance with my previous email. Do u mean there's a good chance the email can be hacked from binance .

I'm not saying thar binance will hack your email

Most people are quite predictable. They use a single email for all online activity and use same passwords on numerous sites. Then they use their mobile to authenticate their email. A good number of sites online are not safe and your details may be breached and such details may be in the open.

I advise if you have significant sums in this space, to use a seperate email for them

You can read more here
https://koroushak.substack.com/p/aks-9-step-esssential-cryptocurrency

jedisco:
This market is so predictable.

Yesterday evening, I logged on twiiter and most influencers were screaming buy Link. Most would have gone degenerate with high margin trades hence it needs to flush them out. Almost sold my stash at 25 usd cos I knew it'd pullback.

People keep mentioning its run from 5 to 20 last year. What they wouldn't say is that no one expected that run. Most thought it had topped out when it initially got to 8 and sold their stash. Now everyone is expecting a repeat of that run. That makes me concerned. That said, I believe 40usd is only a matter of time for it.

BTW fam, seems we're getting into another altz party... Loving it as my bags are stashed thankfully on strong coyns. Remember to take good profits on the way up so you have dry powder when its necessary. Also don't forget its a bull run, don't take profits to early and leave a tiny bit as a moon bag...

Altys I'm watching...
Eith
Dot
Aave
Ren
Link
LTC
Band
Vet
Xrp
ADA
Sxp
Algo
Atom
Uni

I prefer to focus on a about abt 5 strong ones buy monitor some for quick scalps.

Aave and uni are running.
As I've always said, I've been in aave since about 110. Target was 300. I'd see how it reacts at that level.

I'd look to start taking profit from it around that level and moving it into eith.

My trade plan is usually to switch early runners into eith or late runners and those into fiat depending on market conditions.

That said, I've noticed a cotn that usually runs has been quite. Its YFI. Currently at 31.9k... it could easily go to 38k (20%) if betece at least if holds

elmas:
Sure

Usually I'd say get in and split your portfolio as you see fit. I'd give some advice but the decisionand responsibility lies on you.

Hold on let's see how todays chart closes...

If it holds certain targets, then I'd say you could split it thus; 20% betece, 30% eith, 30% link and 20% ltc or (xrp)

TheZebra:
What's the best thing to do when eith gets back to its ATH this week? For those aiming to take profits

I don't like trading a pattern that has played out twice already. When it becomes obvious, the market punishes late comers and they may buy higher.

That said, in trading, there's something about the 4th attempt. Most times, resistance/support do break on the 4th attempt. We've had two sweeps so far each rejecting and making a higher low. If it follows betece pattern (which it has done so far), it should breakthrough on the 3rd attempt. So this time, I'm not taking profits, but may use a loose stoploss to prevent a drawdown.

emijo:
Can somebody educate me about how this crypto works?
The best app to use and the least cash I can invest.
I’m a novice biko all these write ups sounds so foreign to me.

Read through pages, follow lines of discussion, watch tutorials e.t.c. I'd say it's easier to get an answer when you ask a specific question. It's like asking someone to teach you all they learnt over 3years of trading. Where would they start

Ojemedad:
From your analysis I must say you are good in this crypto market

Not necessarily but thanks for the nice words... I'm still trying to find a consistently profitable pattern

billyG:
Abeg SME can one trade cripto on Binance on weekends esp. Sunday?

Yes you can. It's a market that runs 24/7.
But then, if you're asking, you may want to take your time b4 getting into trading

Anowax:
Nobody cap pass you for this thread. I swear

Not necessarily, everyone with their trading style. We have very good silent folks here. And I've made basic and terrible mistakes even recently.

We're in a bullrun and every analyst would sound like a genius.

Most good traders are wrong almost half of the time. What's important is how to manage risk moreso when youre wrong

EseAbed:
Ahh!! Thank you Sir..

So sorry for putting you through this stress.

Thanks once again, E just dey like say I don graduate from pre nursery enter nursery one

Hehe... No worries. We learn everyday

kolagbemi:
I have to say I'm extremely impressed by your analysis, quiet articulated and intelligent analysis. I have never done anything gambling and really don't like it. For over 5years I was seeing cryptocurrency as gambling. This week a friend gave me a brief...4days now, I couldn't sleep...research and research. I have to say God bless you guys on this forum. In less than 4days, I've invested 120k in Betece, eith, chainlink and eXRP. I've lost 6k especially on eth..I bought at 1400, bought Betece at 35k. Nevertheless, I'm not scared to loosing money, I want to understand the market and I'm also prepare for long time investment. It seem loosing in this market happens to impatient people and people who emergencies forced out.
God bless you guys. I'm following.

I very interested in day trading or picking up profit from low and rise of prices, where is the best place to learn in addition to here.

Thank you

Thanks for the nice words... Welcome here... We learn everyday.. Also had similar thoughts b4 I got converted.
We're in a bull run everyone can sound like a genius.

Hehe... Everyone wants to daytrade... at least witness a bear market before you daytrade.
I'd your trading style to an extent depends on your personality and it'd come to you naturally.

Two things you mentioned I wouldn't advise new folks on are daytrading and exrp. I'm not saying to sell.

For new folks coming in at this time, my advice would be to set targets and take profits on the way up

elmas:
With the way you are explaining these Sir,
1. would it be wise to hoard betecee and eith
now? It seems it's at its peak now.
2. if possible for hw long?
3. Or should one have targets??
4. You mentioned in one of ur posts that one could still do Day trade with Ren, is this coyn better than xrpee and betcee, or is there any other coyn u could recommend? Thank you Sir.

1. Nobody knows when it'd peak. To me, it doesn't seem like it's done that for this cycle. I might be wrong but nothing has happened to make me change my bias yet.

2. You're the one to answer that and it depends on your plan and what the market gives.

3. Definitely. You need to have a plan

4. I don't day trade and wouldn't recommend someone new in this space to start with day trading. It's the best way to get eaten up. It may sound sweet on paper but is much more hardwork. No coyn is perfect. It's best you observe what coyn u want to day trade and see how it behaves, it's support/resistance zones against fiat or betece. I'd advise to be in this space for at least a year b4 one starts daytrading. Also, have a seperate account for it.

elmas:
1. Six months
2. Like 50k ngn
3. Like 50% if possible
4. 10%

1. 6 monthly targets are good as this market usually has 2-3 good moves a year

2. For 50k ngn, you could open an account on Bundle as it's easier to navigate. Usually, I'd say Binance as it's cheaper but new folks find it complex to buy there. I'd advise you use a new email to open your accounts. An email you don't share online for fb, nairaland e.t.c nd the rest. The pass should also be different- one u can remember

3. That's a high target for a 6 month investment. If na like so, guys for don buy jet. That said, it's well achievable in current market conditions

4. You can easily go upto 50% down in that timeframe. Not trying to scare you, but no assurances here. The benefit is trading smartly in the long run.

Still ready to go ahead?

coolfredo:
let me send u dm. I would love u to tell me which coin is likely to make good run as am planning on investing in crpt this year i have plans on puting part of my income to it every month let say $150 every month n observe how it run

No offence intended but I would rather discussions are done here. Others can scrutinise opinions shared and also share their views. Also, people with similar questions will ot ask it again.

I'd answer your question
That is a sensible way to get in as you average your buy price over time and also, with time you know when how the market runs. For coins to buy this way, I would say 70% betece and 30% eith. It's upto you but advisable you limit it to those two.
You can follow the market and start when you make up your mind but I'm guessing you would do that at peak euphoria and complain about the next bear cycle.

coolfredo:
. I mean how do they know which is performing well

You study their trend and avoid buying the tops.
If you're confused, stick to betece or eith until you learn the ropes

coolfredo:
so then how do de know which is higher

I'm confused. What's the question exactly?

Dramadiddy:
this is a game of patience. If you don’t apply patience in your trading, you’ll always lose.

Hehe... It's surprising what some folks see crypt0 as. Some just gamble their money to the market.

If betece drops to 6k today, nobody will come and ask if they should buy.

coolfredo:
. Thanks bro but a unit of ADA is not up to a $ yet while eith is $1300. Though u dont know much abt it.

The cost of a unit isnt the issue. Don't get carried away by it. That's the mistake alot of folks make with exrp cos they think its 'cheap'
20k x2 is 40k. Also, 0.1x2 is 0.2.

coolfredo:
pls out of all the coins u listed which are the strong 5. I have ADA,DOT,EITH,LTC. still need to add some more, dont know if it adviceable as makt is now going high

No one can tell. They all run and pullback at different times. Also, it's good to have a mix between majors to low caps.

I don't want to nane specific ones and people will run in cos I can exit them. But if I'd add my thoughs on some you listed, I'd say
Eith- always worth having
Link- due a good run
DOT- has gone from 4.5 to 20 in less than a month. If you're buying now, have a clear plan cos it'd have a heavy pullback soon
ADA- It may outperform eith shortly and I'm hoping to sell it into eith at a level
LTC- old guard... Good performer earlier on. Now lagging... It'd regain lost ground too.


My gameplay is to stack as much eith/btz as possible.

I follow their trends against eith or btz. Usually my gameplan is to flip early runners for late runners and take profits from late runners into fiat.

It's more complex as youre trading two volatile assets. I do it for certain pairs. Early this month wgen theta ran, I sold it into eith at a good rate. When eith ran, I made extra profits.

EseAbed:
Morning Sir!

Could you please explain that 'stop limit' feature on Binance in layman's english?

I use it on sell orders as a form of risk management.

E.g you buy eith at 50, it goes to 100, you think it may still rise to 150 but want to protect your profit incase it drops.

You can use a sell stop limit. Lets say you put your stop at 88 and limit at 86.
The stop is the price at which your order is triggered. In this example it's 88. So if the price of eith drops to 88, your sell order becomes valid.
Limit- this is the least price you want to sell for. i.e once the price gets to 88, your sell order is placed but it wouldn't be sold for anything below 86. It's useful especially if you're selling large amounts, when there's huge volatility or in pairs where the order books are thin.

Take for example, you want to sell 5000 betece. Thats hundreds of millions, a limit order will prevent sharp price fluctuations

A simple stop or stop market order means that once your set price is hit, your coins are sold for whatever buy price is available

Another one not available on binance is a trailing stop loss. Here you can set it at say 90 when eiths price is 100. It'd keep following it forward at a 10 dollar interval but never goes back. E.g if eiths price rised to 120, your stop will become 110. If there's a pullback then, it'd be hit and not go back.

It's tricky knowing where to put your stoploss cos they're hunted. You don't want to put it too low and if you put it too close to market price, it'd likely get hit b4 any significant move hence you may buy higher at the end.


That said, there are different ways of risk management. Personally, in some market conditions I tend to use different ways. Now what I use is mainly taking profit on the way up

This market is so predictable.

Yesterday evening, I logged on twiiter and most influencers were screaming buy Link. Most would have gone degenerate with high margin trades hence it needs to flush them out. Almost sold my stash at 25 usd cos I knew it'd pullback.

People keep mentioning its run from 5 to 20 last year. What they wouldn't say is that no one expected that run. Most thought it had topped out when it initially got to 8 and sold their stash. Now everyone is expecting a repeat of that run. That makes me concerned. That said, I believe 40usd is only a matter of time for it.

BTW fam, seems we're getting into another altz party... Loving it as my bags are stashed thankfully on strong coyns. Remember to take good profits on the way up so you have dry powder when its necessary. Also don't forget its a bull run, don't take profits to early and leave a tiny bit as a moon bag...

Altys I'm watching...
Eith
Dot
Aave
Ren
Link
LTC
Band
Vet
Xrp
ADA
Sxp
Algo
Atom
Uni

I prefer to focus on a about abt 5 strong ones buy monitor some for quick scalps.

EarlyCareer:
Very correct Jedisco. I have been doing a lot of reading. The guys that understand these charts are saying that it is not looking good and a dump might be coming.

Guys, heed the above. this is not to cause panic though, just be cautious.

https://www.tradingview.com/chart/BTCUSD/N4tFOw0Q-Bitcoin-s-blow-off-top-to-descending-triangle/

Yeah it broke down from a descending triangle which can be bearish, but that pattern serms to have been truncated at support. An inability of a bearish pattern to play out is bullish
Personally, for now, I think we've had the dip and I'd give you reasons

1. Market pulse- it's had a 25% pullback and majority of traders are hoping for more. Most have bids stacked between 20-30k. Betece dips usually bottom out when the majority start calling for more dips. It never satisfies the market. Same thing happened at the 10k and 16k pullback.

2. Whenever betece goes on a run, majority are usually hoping for a pullback, a good number of times, it's these folks who later FOMO in to push the market up. Same thing happened from 10-20k and same also from 20-40k

3. That market structure is not yet broken. TA can be interpreted from different angles but that dip hit the bottom of the current trendline on my chart. One which has been successful so far for me. Also look at PA, despite yesterday's selloff, it couldn't even go below 31k.What does that tell us?
There is huge supprt cluster between 29-30k. About 4 areas of strong support. So far in this run, 25% pullbacks have been a gift. It was deeper in other runs but so far not on this.


4. This last dip reset the bull/bear bias- we now have more people betting on further pullback than on a continuation.

P.s look at Eithy chart and you'd see it's playing out thesame pattern betece followed b4 flipping 20k. First betece came close to ATH and dumped, then made an ATH and dumped again to form a higher low before then breaking ATH with volume to go on a rip. We're in the 3rd part of that fractal on eith