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Bitcoin USD Buy-in/Re-buy Levels (End of Correctoin + Altcoins)Ok, so Bitcoin is correcting a lot, wait not Bitcoin, the entire cryptocurrency market is on a huge correction (people are selling an the price is going down). Billions of dollars are gone. Is this good or bad? What to do next? When to buy back in? What about the Altcoins? Good or bad really depends if you have a plan and your level of understanding of how these markets work. Corrections are good, if you are looking at the long term health of an asset, coin or market. There are many players involved, many people bought Bitcoins and other cryptocurrencies without any knowledge of how this market works, the price goes high, everything shoots up, but the time to take out some profits finally comes. The experienced players are hungry they want their gains from the purchase of their coins. There is also market manipulation, media manipulation and so much more. Our natural behavior as well, panic and other factors. But none of it is a big deal for those that are trading to make money, for us this is just a situation to watch from which we can benefit as well. Look for a re-entry price and how to maximize profits when the correction comes to an end. So, is this good or bad? Corrections are good. This type of correction happens after a phenomenal bull run, the Bitcoin price reached all time high, the market grew to new levels, it is safe to say we reached a top, now we want to know where is our bottom, we want to know this market more. So we retrace looking for support, until we find one... we are getting close. The chart above shows my recommended buy-in (re-entry) levels for Bitcoin. At the same time, this same levels, if they hold, can be considered the end of the correction and activate a buy wave on all altcoins. So watch for these levels, this might be where the correction comes to a halt. We have already been going down for a while now, so we just need one last push before we find our support. What to do next? If you follow my trades, we are taking the hold approach, but why? Because this is the easiest for beginners, not as in a personal way as you might think, but easiest in the sense of following a strategy where you can be sure to win no matter what happens. Knowing that this is a normal correction, you can act on it by making a plan before hand, buy and sell, trade like a boss. Buy and sell can cause mistakes, we like safe bets, that's why we hold. When to buy back in? Follow the chart and use my recommended "buy-in zone" square. If the price breaks this level and goes lower, then you buy-in more. What about the Altcoins? Our Altcoins are most in the red, just like the entire market. We have a few options here: 1) Sell and buy back lower (this requires keeping track of Bitcoins price and alts price). 2) Sell and remain out, take a loss and wait for new trades (not me). 3) Hold for the correction to be over, maybe reload at the bottom and your money will grow again (reload more while holding the old - I like it). So it really depends on you. My relaxation approach calls for a vacation rather than more trades (buying and selling alts), after the correction is over, many new and more opportunities awaits. We are here, and will still be here, to profit from these trades. Namaste.
BITFINEX:BTCUSD
by MasterAnanda
1.4 K
USD/JPY Buy cont'dUJ shot off the .618 level, which was ultimately the level I was looking to, then it gave a beautiful buy setup on 1 hr, then retraced to scare people... I would need to do a video to properly explain this, but I will try best I can. within its measurements and pattern it does have the possibility of making that lower shoulder I talked about. I have not been at my desk trading or I would have posted, but I am pointing out there were 2 possible entry points to get in this buy. The .618 by limit, or the flag. Entering now is not the correct place or time of day, however it is possible it does continue up from here
Long
by thillygoosth
ARDOR dropping. When do we buy some more?As most of the market is still going strong. ARDR looks like its doing a retracement after hitting an ATH well over 2$. With only 1 billion coins that are all in circulation, a solid team (team that built the NXT platform) and coming out of the test system into the live own block chain on the 1st of January, this project will have results to show in 2018. As for entry levels: - I am looking for a break of the 0.00012 on the downside, if this is broken I expect the price to go below 0.00010. - If the market goes in this direction I will start buying between 0.00009 and 0.00006 (green lines in the chart). I am long on ARDOR since a few months but with the markets cooperation I am looking to increase my position as 2018 is looking amazing for ARDR. Happy trading.
Long
by RaulPuiu
Ripple/Bitcoin: Bullish flag confirming CONTINUATION SOON?Hello everyone, here is my TA on Ripple. Looking at the current trend it's making, we are seeing a nice pullback/correction for its recent run up. Congrats longs! At this point, it is ideal to figure out where the price is going for the sake of our assets, dips, entries, or even exits... My TA tells me that the current pattern we are in now is a bullish flag , which would indicate a continuation of the recent bullish trend! The pole is the left green trend line of the recent uptrend and the down trend is the channeled two smaller green lines. The next green line is the expected continuation pattern (Hey, green is good!). You will see that I use three indicators that I really enjoy using: RSI, CCI, and MACD. We are noticing quite an interesting pattern of an uptrend followed by a correction, then another uptrend! My analysis is trying to pinpoint if this will pullback further, or break out. Judging by the RSI, you can see the light blue arrows that are pointing up indicate an uptrend and if we look at the recent up trend that began ~January 2nd, we see the RSI hit a bottom and then shot up. The even earlier uptrend on December 31st was a low RSI followed by a sideways trend for a few days. Price went from approximately 13k sash to 21k sash. Using this history, we also see that the CCI has hit a low and then came back up, as well as the MACD crossing and diverging to confirm the uptrend. Now, we are reaching that same point, as the MACD is hitting a low both similar to the sideways trend on December 31st, 2017, and January 2nd, 2018 (Happy New Year!) On top of that, the CCI is also reaching super low to the same area as both of those lows on their respective dates. Now, it's a matter of: will this drop and go sideways for a few days or will it come down and make a new uptrend soon? My first option is that if the flag finishes forming, it will hit bottom close the support/pressure line I drew which was ~16k sash. To confirm, I drew fibbonaci retracements from the peak of the uptrend to the low of the uptrend, and surprisingly (and confirming-wise), that area would actually be a .236 retracement point. The area that the price is very close to now is a .382 retracement point, so if that does break through, we may see it go to .236 retracement or ~16k sash. If not, we should expect a breakout now or very soon as all indicators point to a high level of exhaustion on the downtrend, where my aim would be ~35k sash. My second option is that if the price breaks through to that retracement of .236, it will move sideways for some time, similar to the trend on December 31st...then we should expect a confirmation of a breakout/continuation to ~35k sash in the coming hours/days. This may look like a cup and handle pattern, which would confirm bullish continuation, but the volume on the left half of the cup appears to be less than the volume on the right, and the handle appears more than 50% of the height of the cup. Therefore, I don't believe this to be the correct pattern. My conclusion: If I were invested into Ripple NOW, I would hold and accumulate on the possible downtrend, waiting for a confirmation for the continuation (CCI passes 0, MACD crosses and diverges, RSI follows arrow up). If I were to enter Ripple (and I might), I would keep a close look to see if I could enter on the downtrend or simply enter early into the uptrend because it will go much higher. The reason why I would watch first, is because I need to witness a confirmation of a trend reversal from this bearish trend before entering...this will help avoid any unnecessary losses due to FOMO,FUD, and psychological barriers. Overall, I am bullish! Best of luck and thank you so much for reading this!
Long
by Eurocrem
10