BitcoinLong
Buying & Breakout Areas of 16 Altcoins!
Hi,
First of all, I would like to thank you all for answering and naming your favorite coins. Firstly I said that you have to mention two of your favorites but somehow it went out of control and some of you named your top 10. I cannot argue because if someone didn't "read" the description then it can be misleading information but no worries we got a hell of data from TradingView users.
This data is also good for newcomers because it shows exactly which ones are the most "valuable" and much-talked-about coins in the commune of TradingView, at least in my comment section. It should narrow the list of coins.
Before we jump into the statistics, is good to see that every time I make this questionary then top coins are a bit different.
The previous questionary was by far the most answered. Thanks also for TradingView who picked it "Editor's picks" which added a boost to the post.
Now the interesting part of the idea post - the statistic:
- More than 32k views
- More than 700 likes
- More than 450 comments
- 1137 mentioned altcoins
- 256 different altcoins
Firstly, I said I'll do technical analysis for TOP10 but as you have understood, I have shifted the boundaries more than ones and I have to do this again. TOP16(!) gets analyzed and I would like to share the list of it plus some who stayed closely behind the door.
The list of TOP mentions:
1) ADA - 62
2) VET - 36
3) DOT - 29
4) XLM - 24
5) XRP - 23
6) ONE - 22
7) ALGO - 22
8) BNB - 21
9) LTC - 21
10) ENJ - 20
11) GRT - 20
12) CHZ - 19
13) MATIC - 18
14) BTT - 18
15) TRX - 17
16) REEF - 16
----
17) FIL - 16
18) HBAR - 16
19) LINK - 16
20) ETH - 15
21) SXP - 15
22) THETA - 14
23) RVN - 13
24) ATOM - 13
25) EOS - 13
30) CRV - 11
40) EGLD - 8
50) CELR - 6
70) AION - 4
100) LIT - 3
Here might have some typos from my side and from your side which can affect the list a bit but in general, the TOP should be like as shown.
The first part is over, now the second half of it - finding some buying areas from lower prices, breakout possibilities and etc. To be said, I tried to analyze and find at least something for all of them but some are just so out of the control and technical analysis just doesn't work on them but always is possible to add at least one technical analysis criterion to make a buying decision. If you don't have anything then it is just guessing or you can find yourself surrounded by FOMO players, you are included. Based on the technical analysis, it is possible to put the money to work for you as fast as possible.
A little bit more, there are breakout opportunities and correction opportunities - lower prices.
Breakout opportunities are definitely a bit riskier especially if they make a new all-time high. The price action needs to be quite good to make a buy after the price has made a new all-time high. If not, you can just catch easily fakeouts if the lineup isn't perfect. These breakouts which are in the middle of the price range are a bit safer but in general, you should be quite good at fundamentals to buy these blindly. So, my recommendation, invest in my shown breakout opportunities only then when you have made your fundamental analysis.
Lower price ranges: On previous posts like this I got a lot of questions about lower price ranges. "Do you really think that the coin comes so deep?", "Lower prices? Do you wait for a correction?", "What!? Lower prices, the correction is coming yes?".
To be clear, I don't care about anything, when, why and etc. I know one thing and keep that in mind: IF the price comes to my marked area only THEN I'm interested in it! For me everything needs to be technically correct otherways I don't want to invest! Preparations should be done earlier than the correction happens. It doesn't help you if you start to use your helmet AFTER the bike crash.
If you have seen my previous post about TOP altcoins, then you should know that it has worked quite perfectly if you do your analysis in front.
Let's start:
1) CARDANO - ADA/USD (Daily TF)
Breakout possibility:
The price action of ADA has drawn a resistance around $1.35. To be said, let the price action shows that it is capable to go higher, let the investors show to you that they are willing to pay higher prices for Cardano, you don't have to guess, you just wait for a confirmation, otherways your money can stay stuck into the zone of consolidation and it simply doesn't work while you sleep.
The confirmation comes after a Daily candle close above $1.40, wait for a lower prices retest and you should be good to go.
Grab it from lower prices:
At the moment the key level is $1.00, the price of ADA has got multiple rejections from that but if it breaks then we might see lower prices. A break below $1.00 can drive the price around $0.55 to $0.78. Be ready to grab it there if the crypto market starts to correct a bit deeper.
For all: it is a perfect example of patience. Firstly, waiting for a breakout you get the confirmation that the price is willing to go higher, investors are ready to buy it from higher prices, and secondly, it goes even better - if you wait and breakout doesn't occur, you get it after a correction from lower prices, perfect. Do not act just simply "oohh....ADA is a great coin I would like to invest blablabla...." No, wait for confirmations and both scenarios put your money work faster, do not buy it in the range of consolidation!
2) VeChain - VET/USD (4H)
Breakout possibility: VET has been below and fighting with the round number $0.1000 for already 2 weeks. The price action has drawn a pretty solid/clean resistance and the move upwards should be confirmed after at least 4H candle close above $0.1000. Wait for a retest and buy the shown strength, do not guess it before it doesn't happen.
Grab it from lower prices: VET/USD (Daily)
The zone of the buying area is quite wide but there is a solution. The longer your investment period is the sooner you can start load your bags. Technically a good area to grab it stays between $0.045 to $0.062
3) Polkadot - DOT/USD (4H)
Breakout possibility:
Here is actually a good example for all, as you see we already got a breakout from DOT, and also we have a retest. That's how they should work for all of them, so remind that price action.
At the moment, I cannot recommend buying it right now because the initial retest has occurred but IF it comes back then $39-$40 might be also a good area to take it. As I said previously, these breakouts aren't my favorite so it is considered as a risky trade.
Grab it from lower prices: DOT/USD (Daily)
Those who are waiting for lower prices, so as I, then technical analysis guides us as low as ~$20. Again the zone starts a bit sooner but the good area should stay between $17.75 to $24. So keep an eye on the mentioned zone, alerts on! ;)
4) Stellar - XLM/USD (Daily)
Grab it from lower prices:
The breakout structure is not quite there and I don't want to share it also because I don't like/understand the price action around the current price.
So, I can grab it only from lower prices and luckily quite good criteria waiting for us around $0.21 to $0.29
5) Ripple - XRP/USD (Daily)
Breakout possibility:
There is quite a challenging resistance just above the current price. The resistance consists of two minor zones, which both together make an area hard to beat. In the smaller timeframes is possible to act in the middle of the two higher gray areas but I would like to see a confirmed breakout, Daily candle close above $0.75 or $0.80, and then comes back to retest these two resistance lines which started to act as a support after the breakout. It needs a bit more patience but it is also worth it.
Grab it from lower prices:
If it gets a movement downwards then $0.45 to $0.53 should be technically a decent area to grab.
6) Harmony - ONE/USD (4H)
Grab it from lower prices: Quite a solid price action are pointing $0.1 to €0.13
7) Algorand - ALGO/USD (Daily)
Breakout opportunity:
A great breakout should be a Daily candle close above or very close to $1.50 a little retest of the breakout area and go to the previous ATH.
Grab it from lower prices:
Actually, here I would prefer that mentioned breakout setup because the lower prices is not so sure but still area between $0.66 to $0.82 should be correct to buy it.
8) Binance Coin - BNB/USD (Daily)
Breakout opportunity:
We have a tiny range and we have also a candle close above it so we can consider it as a breakout. Not the best one but if you have some good fundamentals to push it then you can buy it almost right away.
Grab it from lower prices:
As always, I want to see lower prices and the correction guides the price to $268-$304. If BTC gets a bit deeper correction then this level doesn't hold, so start to build your position carefully.
9) Litecoin - LTC/USD (Daily)
Breakout opportunity:
Nothin in nearby but if the Daily candle gets a close above $250 then you can buy it after the throwback to 220 to 240. As said let the price and investors show you that it is willing to go higher do not rush!
Grab it from lower prices:
Quite good criteria matching around $105 to $137.
10) Enjin Coin - ENJ/USD (Daily)
Breakout opportunities:
Too risky to recommend, not enough data on the top of the price action.
Grab it from lower prices:
If the price comes to test the buying zone around $1.3 to $1.7, then I'm interested in ENJ. Strong criteria matching perfectly inside of it and hopefully, it touches the mentioned area to make a profitable investment from the marked zone.
11) The Graph - GRT/USD (Daily)
Breakout opportunity:
In general, it is quite a tough chart and price action but as I promised, I'll try to find at least something. So, a Daily candle close above $2.2 and wait for a retest ~$2.00 and technically it should be quite an okay setup.
Grab it from lower prices:
I didn't want to even draw it here but I want to look it only around (better if below) $1.00, only then it starts to look interesting to me because it is a bit messy buying area if the correction comes. Cannot narrow the area so much that I'm satisfied.
12) Chiliz - CHZ/USD (4H)
Breakout opportunity:
Break above the higher gray area and above the trendline, a confirmed break would be a 4H candle close at least above $0.58. It needs to occur within 4 or 5 days.
Grab it from lower prices:
$0.25 to $0.35 should be technically the correct spot to look it up, considering the current, quite difficult, price action.
13) Polygon - MATIC/USD (Daily)
Breakout opportunity:
Nothing certain.
Grab it from lower prices:
$0.20 to $0.27 is the first area. There is also a second area around $0.15. So, do not push all-in at the first area ;)
14) BitTorrent - BTT/USD (Daily)
Breakout opportunity:
LOL
Grab it from lower prices:
As said, at least something and those of you who want to enter into the skyrocket, wait for at least 50% correction from the current peak. From there it should make at least a technical short-term bounce ;)
15) Tron - TRX/USD (Weekly)
Breakout opportunity:
LOL
Grab it from lower prices:
Same story as BTT, I don't even want to look at it before it reaches back around $1.00. Uuuhhh...ugly charts, for making TA but as said, at least something ;)
16) Reef - REEF/USD (Daily)
Breakout opportunity:
A bit far away but good confirmation if the Daily candle gets a close above $0.5
Grab it from lower prices:
Quite a wide area, because it is hard to narrow the buying zone but your eyes should be pointed between $0.2 to $0.3
That's all and my brain is overheated. If you find something interesting, then leave the "LIKE" and feel free to comment.
Stay heathy,
Vaido
First of all, I would like to thank you all for answering and naming your favorite coins. Firstly I said that you have to mention two of your favorites but somehow it went out of control and some of you named your top 10. I cannot argue because if someone didn't "read" the description then it can be misleading information but no worries we got a hell of data from TradingView users.
This data is also good for newcomers because it shows exactly which ones are the most "valuable" and much-talked-about coins in the commune of TradingView, at least in my comment section. It should narrow the list of coins.
Before we jump into the statistics, is good to see that every time I make this questionary then top coins are a bit different.
The previous questionary was by far the most answered. Thanks also for TradingView who picked it "Editor's picks" which added a boost to the post.
Now the interesting part of the idea post - the statistic:
- More than 32k views
- More than 700 likes
- More than 450 comments
- 1137 mentioned altcoins
- 256 different altcoins
Firstly, I said I'll do technical analysis for TOP10 but as you have understood, I have shifted the boundaries more than ones and I have to do this again. TOP16(!) gets analyzed and I would like to share the list of it plus some who stayed closely behind the door.
The list of TOP mentions:
1) ADA - 62
2) VET - 36
3) DOT - 29
4) XLM - 24
5) XRP - 23
6) ONE - 22
7) ALGO - 22
8) BNB - 21
9) LTC - 21
10) ENJ - 20
11) GRT - 20
12) CHZ - 19
13) MATIC - 18
14) BTT - 18
15) TRX - 17
16) REEF - 16
----
17) FIL - 16
18) HBAR - 16
19) LINK - 16
20) ETH - 15
21) SXP - 15
22) THETA - 14
23) RVN - 13
24) ATOM - 13
25) EOS - 13
30) CRV - 11
40) EGLD - 8
50) CELR - 6
70) AION - 4
100) LIT - 3
Here might have some typos from my side and from your side which can affect the list a bit but in general, the TOP should be like as shown.
The first part is over, now the second half of it - finding some buying areas from lower prices, breakout possibilities and etc. To be said, I tried to analyze and find at least something for all of them but some are just so out of the control and technical analysis just doesn't work on them but always is possible to add at least one technical analysis criterion to make a buying decision. If you don't have anything then it is just guessing or you can find yourself surrounded by FOMO players, you are included. Based on the technical analysis, it is possible to put the money to work for you as fast as possible.
A little bit more, there are breakout opportunities and correction opportunities - lower prices.
Breakout opportunities are definitely a bit riskier especially if they make a new all-time high. The price action needs to be quite good to make a buy after the price has made a new all-time high. If not, you can just catch easily fakeouts if the lineup isn't perfect. These breakouts which are in the middle of the price range are a bit safer but in general, you should be quite good at fundamentals to buy these blindly. So, my recommendation, invest in my shown breakout opportunities only then when you have made your fundamental analysis.
Lower price ranges: On previous posts like this I got a lot of questions about lower price ranges. "Do you really think that the coin comes so deep?", "Lower prices? Do you wait for a correction?", "What!? Lower prices, the correction is coming yes?".
To be clear, I don't care about anything, when, why and etc. I know one thing and keep that in mind: IF the price comes to my marked area only THEN I'm interested in it! For me everything needs to be technically correct otherways I don't want to invest! Preparations should be done earlier than the correction happens. It doesn't help you if you start to use your helmet AFTER the bike crash.
If you have seen my previous post about TOP altcoins, then you should know that it has worked quite perfectly if you do your analysis in front.
Let's start:
1) CARDANO - ADA/USD (Daily TF)
Breakout possibility:
The price action of ADA has drawn a resistance around $1.35. To be said, let the price action shows that it is capable to go higher, let the investors show to you that they are willing to pay higher prices for Cardano, you don't have to guess, you just wait for a confirmation, otherways your money can stay stuck into the zone of consolidation and it simply doesn't work while you sleep.
The confirmation comes after a Daily candle close above $1.40, wait for a lower prices retest and you should be good to go.
Grab it from lower prices:
At the moment the key level is $1.00, the price of ADA has got multiple rejections from that but if it breaks then we might see lower prices. A break below $1.00 can drive the price around $0.55 to $0.78. Be ready to grab it there if the crypto market starts to correct a bit deeper.
For all: it is a perfect example of patience. Firstly, waiting for a breakout you get the confirmation that the price is willing to go higher, investors are ready to buy it from higher prices, and secondly, it goes even better - if you wait and breakout doesn't occur, you get it after a correction from lower prices, perfect. Do not act just simply "oohh....ADA is a great coin I would like to invest blablabla...." No, wait for confirmations and both scenarios put your money work faster, do not buy it in the range of consolidation!
2) VeChain - VET/USD (4H)
Breakout possibility: VET has been below and fighting with the round number $0.1000 for already 2 weeks. The price action has drawn a pretty solid/clean resistance and the move upwards should be confirmed after at least 4H candle close above $0.1000. Wait for a retest and buy the shown strength, do not guess it before it doesn't happen.
Grab it from lower prices: VET/USD (Daily)
The zone of the buying area is quite wide but there is a solution. The longer your investment period is the sooner you can start load your bags. Technically a good area to grab it stays between $0.045 to $0.062
3) Polkadot - DOT/USD (4H)
Breakout possibility:
Here is actually a good example for all, as you see we already got a breakout from DOT, and also we have a retest. That's how they should work for all of them, so remind that price action.
At the moment, I cannot recommend buying it right now because the initial retest has occurred but IF it comes back then $39-$40 might be also a good area to take it. As I said previously, these breakouts aren't my favorite so it is considered as a risky trade.
Grab it from lower prices: DOT/USD (Daily)
Those who are waiting for lower prices, so as I, then technical analysis guides us as low as ~$20. Again the zone starts a bit sooner but the good area should stay between $17.75 to $24. So keep an eye on the mentioned zone, alerts on! ;)
4) Stellar - XLM/USD (Daily)
Grab it from lower prices:
The breakout structure is not quite there and I don't want to share it also because I don't like/understand the price action around the current price.
So, I can grab it only from lower prices and luckily quite good criteria waiting for us around $0.21 to $0.29
5) Ripple - XRP/USD (Daily)
Breakout possibility:
There is quite a challenging resistance just above the current price. The resistance consists of two minor zones, which both together make an area hard to beat. In the smaller timeframes is possible to act in the middle of the two higher gray areas but I would like to see a confirmed breakout, Daily candle close above $0.75 or $0.80, and then comes back to retest these two resistance lines which started to act as a support after the breakout. It needs a bit more patience but it is also worth it.
Grab it from lower prices:
If it gets a movement downwards then $0.45 to $0.53 should be technically a decent area to grab.
6) Harmony - ONE/USD (4H)
Grab it from lower prices: Quite a solid price action are pointing $0.1 to €0.13
7) Algorand - ALGO/USD (Daily)
Breakout opportunity:
A great breakout should be a Daily candle close above or very close to $1.50 a little retest of the breakout area and go to the previous ATH.
Grab it from lower prices:
Actually, here I would prefer that mentioned breakout setup because the lower prices is not so sure but still area between $0.66 to $0.82 should be correct to buy it.
8) Binance Coin - BNB/USD (Daily)
Breakout opportunity:
We have a tiny range and we have also a candle close above it so we can consider it as a breakout. Not the best one but if you have some good fundamentals to push it then you can buy it almost right away.
Grab it from lower prices:
As always, I want to see lower prices and the correction guides the price to $268-$304. If BTC gets a bit deeper correction then this level doesn't hold, so start to build your position carefully.
9) Litecoin - LTC/USD (Daily)
Breakout opportunity:
Nothin in nearby but if the Daily candle gets a close above $250 then you can buy it after the throwback to 220 to 240. As said let the price and investors show you that it is willing to go higher do not rush!
Grab it from lower prices:
Quite good criteria matching around $105 to $137.
10) Enjin Coin - ENJ/USD (Daily)
Breakout opportunities:
Too risky to recommend, not enough data on the top of the price action.
Grab it from lower prices:
If the price comes to test the buying zone around $1.3 to $1.7, then I'm interested in ENJ. Strong criteria matching perfectly inside of it and hopefully, it touches the mentioned area to make a profitable investment from the marked zone.
11) The Graph - GRT/USD (Daily)
Breakout opportunity:
In general, it is quite a tough chart and price action but as I promised, I'll try to find at least something. So, a Daily candle close above $2.2 and wait for a retest ~$2.00 and technically it should be quite an okay setup.
Grab it from lower prices:
I didn't want to even draw it here but I want to look it only around (better if below) $1.00, only then it starts to look interesting to me because it is a bit messy buying area if the correction comes. Cannot narrow the area so much that I'm satisfied.
12) Chiliz - CHZ/USD (4H)
Breakout opportunity:
Break above the higher gray area and above the trendline, a confirmed break would be a 4H candle close at least above $0.58. It needs to occur within 4 or 5 days.
Grab it from lower prices:
$0.25 to $0.35 should be technically the correct spot to look it up, considering the current, quite difficult, price action.
13) Polygon - MATIC/USD (Daily)
Breakout opportunity:
Nothing certain.
Grab it from lower prices:
$0.20 to $0.27 is the first area. There is also a second area around $0.15. So, do not push all-in at the first area ;)
14) BitTorrent - BTT/USD (Daily)
Breakout opportunity:
LOL
Grab it from lower prices:
As said, at least something and those of you who want to enter into the skyrocket, wait for at least 50% correction from the current peak. From there it should make at least a technical short-term bounce ;)
15) Tron - TRX/USD (Weekly)
Breakout opportunity:
LOL
Grab it from lower prices:
Same story as BTT, I don't even want to look at it before it reaches back around $1.00. Uuuhhh...ugly charts, for making TA but as said, at least something ;)
16) Reef - REEF/USD (Daily)
Breakout opportunity:
A bit far away but good confirmation if the Daily candle gets a close above $0.5
Grab it from lower prices:
Quite a wide area, because it is hard to narrow the buying zone but your eyes should be pointed between $0.2 to $0.3
That's all and my brain is overheated. If you find something interesting, then leave the "LIKE" and feel free to comment.
Stay heathy,
Vaido
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