₦airaland Forum

Iamyemmie:
Should I cancel my sell orders like this?
Make greediness no kill me o
Can I trust your analysis?

Better do so, cos the bulls would eat your short positions as grass!

Kingsteve:
Ok, firstly...on Wednesday the 27th, the Fed is expected to increase interest rate by 75BP (Base points) or thereabouts.

Now, this can be quite tricky in the sense that, if the rates are increased by exactly 75BP or less, it won't really have a negative impact on the crypto markets, because it is already expected to be so.

On the other hand, if it's more than 75BP, then the selloff could be quite noticeable, but not monumental.

From my point of view and analysis of both TA and FA, I still don't think there would be a drastic drop in BTC price, regardless of whatever the interest rate is increased by.

Now, from a TA point of view...looking at the BTC chart below, a higher support seems to have formed at 21.9k, even though there are key support areas below, which could be pivotal in the week, after or before the interest rate is increased.

The key support areas to note are: 21.9k, 21.5k, 20.8k and 20.4k
If these supports fail to hold incase of a selloff (which I strongly doubt), then we could be looking at a lower support of 20k and 19.6k.

The simple moving average (SMA) is finally below BTC price, which signifies that an uptrend is about to form.

Also the exponential moving average (EMA) is slightly above the BTC price, but will soon fall below it, to confirm an uptrend just like the SMA.

But when you switch to the D1 timeframe, both EMA and SMA are already below BTC price which signifies an uptrend.


My verdict: Just like I've maintained for the past weeks, I see BTC continuing with its bull run, regardless of whatever the Fed decides.

The bulls are gradually staging a comeback!
If by the end of the week, the support at 23.3k or thereabouts holds, expect more bullish runs in the upper week ahead.

Stay tuned...

And just like I analysed, the Fed hiked interest rate by exactly 75BP

And just like I predicted, the bulls are taking over again after the rate hike!
Abeg, make una give me some rounds of applause!

Sorry to all those expecting BTC to drop to 14k.
For now, that will only happen in your dreams!

A Sound TA never disappoints!
Know this and know peace!

Siberia01:
failed!
BTC is crashing to bottomless pit

Haha...
Eat your words.

coolqayy:
Is there any UK or EU resident present I have a job for you £500 - £1,000 a month. DM if you are interested. You can work remotely and you don't have to quit your present job.


Seriously. 070 36 4145 11

I'm a British citizen residing in Nigeria.
Is it applicable to me?

Kingsteve:
Ok, firstly...on Wednesday the 27th, the Fed is expected to increase interest rate by 75BP (Base points) or thereabouts.

Now, this can be quite tricky in the sense that, if the rates are increased by exactly 75BP or less, it won't really have a negative impact on the crypto markets, because it is already expected to be so.

On the other hand, if it's more than 75BP, then the selloff could be quite noticeable, but not monumental.

From my point of view and analysis of both TA and FA, I still don't think there would be a drastic drop in BTC price, regardless of whatever the interest rate is increased by.

Now, from a TA point of view...looking at the BTC chart below, a higher support seems to have formed at 21.9k, even though there are key support areas below, which could be pivotal in the week, after or before the interest rate is increased.

The key support areas to note are: 21.9k, 21.5k, 20.8k and 20.4k
If these supports fail to hold incase of a selloff (which I strongly doubt), then we could be looking at a lower support of 20k and 19.6k.

The simple moving average (SMA) is finally below BTC price, which signifies that an uptrend is about to form.

Also the exponential moving average (EMA) is slightly above the BTC price, but will soon fall below it, to confirm an uptrend just like the SMA.

But when you switch to the D1 timeframe, both EMA and SMA are already below BTC price which signifies an uptrend.


My verdict: Just like I've maintained for the past weeks, I see BTC continuing with its bull run, regardless of whatever the Fed decides.

The bulls are gradually staging a comeback!
If by the end of the week, the support at 23.3k or thereabouts holds, expect more bullish runs in the upper week ahead.

Stay tuned...

For now, a very key and crucial support at 21.5k has been tested, and BTC price is bouncing up!

Still early days, as a flurry of macroeconomics earnings and data to be released within the week, starting from tomorrow, will determine if this support will be able to withstand the pressure.

If this support is tested again and broken, then the bears will rear its ugly head once more, and would likely drag BTC price down to lower support levels.

Fingers crossed, this 21.5k support weathers the brewing bearish storm!

Omobola121:
Thank you! I think I found peace now trading Etf coins only using Btc movement for my entrance and exist. I started with $500 and my daily budget is $30-40 which has been very easy for me.

Nice one!
Always on guard though!

Bitcoin:
Day traders make me laugh. Statistics have shown that 90% of day traders lose money. Thinking you can time the top or bottom is pure fantasy. The only proven way to be profitable in crypto is to buy small amounts of BTC and ETH every month and hold for the long run. This recent crash is just one of any throughout bitcoin's nascent history. Once you have the mindset that you intend to hold btc long into your retirement, you wouldn't even care If it dropped to $5, because by buying every month, you are dollar cost averaging and you are accumulating more coins.

The mentality of trying to get rich quick off crypto will be the demise of so many new investors. Real estate gives you maybe 5% annual return, stocks 7%, but people invest in crypto expecting to make 50% overnight because we've had crazy exponential bull runs. They say crypto takes the stairs to climb up and takes the elevator to fall. I see bitcoin as a long term investment I hope to give my kids and grand kids, this longterm horizon has kept me sane for the past 9yrs.

Oga, just say you no sabi day trade, and also there's nothing wrong with being an investor.

Just because you don't understand how some profitable day traders make money from price fluctuations, doesn't mean day traders make you laugh.

Personally, I'd be bored as fvck if at gunpoint, I was asked to change from being a day trader to an investor like you.

When you understand the importance of price fluctuations in a crypto market, then you'll understand why some traders have chosen this path.

And yes, I may have to agree with you that majority of day traders aren't successful.
This thread opened my eyes to that fact!

Elliotwaveforec:
My analysis isn't for day traders but for swingers.

Most times, swinging isn't intentional.
From day trading, one gets stuck, due to many variables.
Once a position is carried over till the next day, it becomes swing trading.

Elliotwaveforec:
Elliotwave analysis encompasses all.

24.6 has been rejected already; don't go and buy hoping it will get there o

Naaahhh...that's schoolboy error.
I only go long at supports.
How can I even go long at 24.6, when BTC price is currently at 22.7k?

I only do spot trading by the way.

Elliotwaveforec:
Elliotwave analysis encompasses all.

Ok then...I'll wait for the 14k fall.
But bear in mind, for the past two weeks, you've been talking about this fall.

I think for more clarity, especially for those who intend to day trade, your analysis should be more specific.

A day trader waiting for price to hit this redline since last two weeks you talked about this fall, would have missed so many trading opportunities by now.

Elliotwaveforec:
I count waves, I don't do resistance or support; sometimes, wave extremes do coincide with S and R.

Currently, on the daily chart, 4th wave should not surpass the red line. Price has already respected the line; hence the beginning of the 5th wave to surpass 17572.

I count with higher TFs from daily to monthly; so, you won't see the results now.

In summary, from your BTC chart analysis, the fall will start once it hits the 24.6k resistance, which you refer to as the redline
Let's watch...

You said you don't do support and resistance?
How can you not do it?
What is a sound TA without S & R?

Elliotwaveforec:
TA or FA, BTC goes south.

14K SL 24700

Head and shoulders formed already

If my memory serves me right, you've been predicting this 14k price drop since last week or two weeks ago.

But the bulls keep shocking you, and attaining ATHs.
Could you please be more explicit as at when this drop will happen?

This week, next week?
At what resistance?
I'm curious!

MODIFIED: Looking at the BTC chart you shared, I noticed your analysis is based on the H4 timeframe.
My question...how can you predict future price direction of BTC using H4?
H4 is strictly for intraday trading.
Care to explain?

Omobola121:
@Kingsteve which direction is Btc going this week?

Ok, firstly...on Wednesday the 27th, the Fed is expected to increase interest rate by 75BP (Base points) or thereabouts.

Now, this can be quite tricky in the sense that, if the rates are increased by exactly 75BP or less, it won't really have a negative impact on the crypto markets, because it is already expected to be so.

On the other hand, if it's more than 75BP, then the selloff could be quite noticeable, but not monumental.

From my point of view and analysis of both TA and FA, I still don't think there would be a drastic drop in BTC price, regardless of whatever the interest rate is increased by.

Now, from a TA point of view...looking at the BTC chart below, a higher support seems to have formed at 21.9k, even though there are key support areas below, which could be pivotal in the week, after or before the interest rate is increased.

The key support areas to note are: 21.9k, 21.5k, 20.8k and 20.4k
If these supports fail to hold incase of a selloff (which I strongly doubt), then we could be looking at a lower support of 20k and 19.6k.

The simple moving average (SMA) is finally below BTC price, which signifies that an uptrend is about to form.

Also the exponential moving average (EMA) is slightly above the BTC price, but will soon fall below it, to confirm an uptrend just like the SMA.

But when you switch to the D1 timeframe, both EMA and SMA are already below BTC price which signifies an uptrend.


My verdict: Just like I've maintained for the past weeks, I see BTC continuing with its bull run, regardless of whatever the Fed decides.

The bulls are gradually staging a comeback!
If by the end of the week, the support at 23.3k or thereabouts holds, expect more bullish runs in the upper week ahead.

Stay tuned...

solreb:
Which app do you use to allow you Mark out points like this on the chart

Tabtrader app

cherryCola:
All I mean is that I don't trade on coins that can be easily manipulated .

I belong to one secret pump group on discord, and I know what those niggarz do to low cap coins.

And my own trading technique is buying pre-sales, IDO's and newly listed token, so I don't need any form of TA just FA.

I see...

cherryCola:
Am very sound in technical analysis.
But when it comes to crypto I like taking advantage,
As I still believe some coins are not matured enough for TA .
I believe one should do TA for only BTC, ETH & BNB when it comes to crypto.

My trading strategy in crypto I will say is unfair and a cheat.

I strongly beg to differ!
TA is applicable to majority of the coins...if not all!
For instance, for the past month or so, I've traded on Xrpdown, Bnbdown, BTS, Doge, Algo, Ada and most recently...Shiba.

As I type this, I have a long position on shiba, and currently in profit of 1.2%, and there's still room for more profit before it reaches my target.

Take a look at the shiba chart below, you will notice those small green and yellow triangles.

The green triangles facing up are my points of entry, while the yellow ones facing down are my exit points.

Notice the numerous small triangles which represent my trades so far.

My point is...with a sound knowledge of TA, you can comfortably trade on any token of your choice, and it is not just limited to the ones you mentioned.

cherryCola:
Thanks bro.

am off crypto for now, since they is no good listing.

No wahala.
But if there's a good time to trade crypto, then there's no better time than now.

I guess this TA of a thing is quite complex for majority of investors and traders, reason why some still don't understand price movements and when to open and close positions.

Just like everyone won't be Engineers, Doctors and Bankers...same applies to crypto trading, not for everyone.

It's ok...

cherryCola:
Lots of (f) monicker's here dragging elders,
it can only be one E-diot, call ballzproblemm .

kingsteve how market nah .
Heard BTC as risen
Haven't seen a chart for almost a month now .

Market has been bullish as you already know.
BTC pulled back yesterday after reaching intraday high of 24.2k, plus Tesla selling 75% of its BTC holdings to raise more cash.
BTC seems to have found a support at 22.3k in today's trading session.

There's another key support at 21.5k in the eventuality of BTC breaking the 22.3k support.

Below is the BTC chart showing key price points.

Trade well...

Siberia01:
Elon is bigger than TA
Kingsteve have go into hiding

Go into hiding as in how?
BTC had a not-so-strong pullback after the recent rally, plus the announcement of Tesla selling its BTC holdings to raise more money.

What's the fuss about?
Did you expect BTC to climb to 25k without correcting?

The way little things are blown out of proportion on here is quite alarming.

Go into hiding kwa?
Na wa ooo...

Lucremoy:
I might start paying more attention to your messages here

Ok na

Kingsteve:
BTC seems to have found a support at exactly 21.5k, just like I predicted yesterday.

From this support, I expect the current long red candlestick to gradually turn green, with a long wick behind.
Another potential strong support at 21.2k awaits, in the eventuality of 21.5k being broken.

The good news is that selling pressure seems to be cooling off around this suport area, which also suggests the current support at 21.5k will likely be strong enough to lunch another bull attack on the bears.

If BTC succeeds in gaining momentum, 23k will be easily achieved, then the next hurdle will be to break the 23.3k resistance.

We shall see...

And finally, that once red candle turns into a green longer one with a wick!

Yes...na TA doings, no be mere blind predictions!

Bmaster:
it's a decentralized assets they say,but till now I'm still wondering how almost All ALTCOINS depended on a single coin for their survival.
To end the future of every coin listed out there,just suppress BTC to oblivion

Unfortunately...you're not far from the truth!

DenreleDave:
Na only prediction de work, no be say ur TA genuine..

Stop using if if if, it is an insult to the TA dt u r praising

My predictions are based mainly on TA readings.
I just don't wake up, and predict blindly.
TA gives me all the signals I need to make such bold statements!

The 'ifs' and 'buts' are necessary, simply because of the fact that no prediction is 100% certain.
There are so many variables that can alter price movement from continuing with its expected route.

This is why institutional traders and expert analysts will always use words such as 'if', 'or' 'however' and 'but' in their analysis.

That's a sign of respect to the ever changing market price of crypto, because no one can claim to predict the market 100%

Kingsteve:
BTC's main target is 23k, but before it hits that, there will most certainly be a pullback to the region of 21.5k/21.2k or slightly lower.
Again, these figures aren't 100% certain, but you will notice the closeness when it happens.
New higher supports could be formed too.

This depends on how much profits traders are willing to take, and of course...when the Fed eventually releases the next interest rate hike.

All in all...the bulls are staging a real comeback.
When and if BTC hits 23k and flips that strong resistance at 23.3k to support, it becomes a full blown recovery for BTC

BTC seems to have found a support at exactly 21.5k, just like I predicted yesterday.

From this support, I expect the current long red candlestick to gradually turn green, with a long wick behind.
Another potential strong support at 21.2k awaits, in the eventuality of 21.5k being broken.

The good news is that selling pressure seems to be cooling off around this suport area, which also suggests the current support at 21.5k will likely be strong enough to lunch another bull attack on the bears.

If BTC succeeds in gaining momentum, 23k will be easily achieved, then the next hurdle will be to break the 23.3k resistance.

We shall see...

coolqayy:
Let's contact you sir

Send PM

ugo41babe:
Do you think it will continue or there will be a retraction ?

BTC's main target is 23k, but before it hits that, there will most certainly be a pullback to the region of 21.5k/21.2k or slightly lower.
Again, these figures aren't 100% certain, but you will notice the closeness when it happens.
New higher supports could be formed too.

This depends on how much profits traders are willing to take, and of course...when the Fed eventually releases the next interest rate hike.

All in all...the bulls are staging a real comeback.
When and if BTC hits 23k and flips that strong resistance at 23.3k to support, it becomes a full blown recovery for BTC

jaydroid:
Do you teach TA?

Well...kinda

I've tutored one or two on how to trade using basic and non-complicated TA.

It's a paid service!

Kingsteve:
I highly doubt this is a bulltrap!
Since last week, I've been of the opinion that the bulls have fought back well enough to give up grounds back easily to the bears.

This could be a relief rally, but then again, there's nothing to suggest that the bears will send BTC price back to 18k soon.

We may see 18k or 19k after the Fed releases interest rate hike sometime next week or thereabouts, but after that, traders will buy the dip once again.

In fact, 19k should be the lowest the next selloff will reach.

Look at the chart below....like I pointed out in my previous post with chart illustration; there's an ascending trend line support at 18.9k or thereabouts, from which this momentum was built.

Again, BTC only reacted to the CPI on the day of release by falling sharply, but then again...traders and bulls defended the support.

For today's likely outcome based on TA, I see BTC hitting 21.7k or maybe slightly lower, before we have a pullback that will be supported at 21.2k or 20.6k

These figures aren't 100% certain, but you will notice the closeness to these key support areas.

The bulls are on rampage, and will only be tamed by the interest rate hike when released!

And it finally happened!
Ladies and gents...TA is a powerful tool for navigating the markets!

Enough said!

Kingsteve:
I highly doubt this is a bulltrap!
Since last week, I've been of the opinion that the bulls have fought back well enough to give up grounds back easily to the bears.

This could be a relief rally, but then again, there's nothing to suggest that the bears will send BTC price back to 18k soon.

We may see 18k or 19k after the Fed releases interest rate hike sometime next week or thereabouts, but after that, traders will buy the dip once again.

In fact, 19k should be the lowest the next selloff will reach.

Look at the chart below....like I pointed out in my previous post with chart illustration; there's an ascending trend line support at 18.9k or thereabouts, from which this momentum was built.

Again, BTC only reacted to the CPI on the day of release by falling sharply, but then again...traders and bulls defended the support.

For today's likely outcome based on TA, I see BTC hitting 21.7k or maybe slightly lower, before we have a pullback that will be supported at 21.2k or 20.6k

These figures aren't 100% certain, but you will notice the closeness to these key support areas.

The bulls are on rampage, and will only be tamed by the interest rate hike when released!

It's happening!
Today's high: 21.4k
21.7k is loading...if not today, maybe later!
God bless the brains that designed TA





I salute!

Geovanni412:
I'd check again. Could be a bulltrap as at right now.

I highly doubt this is a bulltrap!
Since last week, I've been of the opinion that the bulls have fought back well enough to give up grounds back easily to the bears.

This could be a relief rally, but then again, there's nothing to suggest that the bears will send BTC price back to 18k soon.

We may see 18k or 19k after the Fed releases interest rate hike sometime next week or thereabouts, but after that, traders will buy the dip once again.

In fact, 19k should be the lowest the next selloff will reach.

Look at the chart below....like I pointed out in my previous post with chart illustration; there's an ascending trend line support at 18.9k or thereabouts, from which this momentum was built.

Again, BTC only reacted to the CPI on the day of release by falling sharply, but then again...traders and bulls defended the support.

For today's likely outcome based on TA, I see BTC hitting 21.7k or maybe slightly lower, before we have a pullback that will be supported at 21.2k or 20.6k

These figures aren't 100% certain, but you will notice the closeness to these key support areas.

The bulls are on rampage, and will only be tamed by the interest rate hike when released!

Hotice085:
.

.due to reading and signals for where?

Ogbeni how is the market, how many people don enter ya trap?

As you can see...the market is bullish just as expected.

My trap?
I guess you meant 'bulltrap'
And no...this isn't a bulltrap!

There's been so much talk about BTC hitting lows of $14k or thereabouts.
Personally, I don't see this happening in the short term, maybe much later in the year, but definitely not now.

With yesterday's negative macroeconomics, BTC should have still been on the decline today, but it didn't, all thanks to traders buying the dip at key support levels.

Key support areas have prevented further decline in BTC price, and will continue to do so, unless another wave of negative macro hits the financial system.

Even the continued rise in dollar wouldn't be enough to send BTC price back to such levels in the short term.
Again...I remain optimistically bullish, due to readings and signals from TA