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QTUMBTC; falling wedge w bullish indicators; FA & TAEP: Below .00175 TP1: .002102 TP2: .002984 TP3: .003488 SL: .00165 QTUM has had a lot of volatility since it hit bittrex making huge ups and downs. On a fundamental level we have a currently about 20% of QTUM tokens now being staked, and that number is growing. New exchanges are and have been added (bitfinex, and some japanese and korean exchanges still coming), as well as WeChat and Qhola wallets in Q4. Since we fell below the .002 price level we can see that we are not in a descending triangle, but actually a falling wedge. The majority of falling wedges to break upward so we have that in our favor. A much better set up than a descending triangle which normally break down. At points 1. and 2. we see lower low in price, with OBV failing to make a lower low indicating upward movement. On the OBV graph the blue box marks where we expected it to go. RSI shows an equal value compared to the last dip in price which is a weaker indicator for bullish movement, but a bullish signal none the less. We do see a series of lower lows in the RSI that are forming along a trend line. If RSI falls below this line it is an indicator that our trade was bad. Normally that would be a stop loss signal for me, but in this case we would be in the oversold region can add to our position on consolidation or when price forms a lower low. If you want to set a stop loss it can be at .00165. Expect RSI to form a double bottom on the daily chart as it has done in the past before moving upwards. This may be as late as October 25th after BTCG forks. The reason I am not 100% long on this trade is because of BT2X fork upcoming in November. It is not yet clear if we will in fact fork, or if alts will rally after BTCG fork and before BT2X. This is not trading advise, just my personal trade. Educational only. Trade at your own risk and do your own research.
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by Maximilian108
If I just had more BTC to spend...Those market insanity occasions are when I'd love my btc balance to be higher, so that I could buy more alts. Everything is going down, and the best altcoins aren't spared. I'll give you my short list, which could be way longer: OMG WTC LINK BNB NEO ARK MTL LSK I believe they're all sure fires, which will go back up once the craze ends. I don't exclude them going down further before Nov Fork, and that's the reason why you should average your buys in time. BTW, everything below fib .50 is gold to me. If OMG goes @.618 retracement, I'll definitely pour what I have left in it!! Happy trading everyone!
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by lukescream
TWX - Finding the reversal areasThere is always much to learn. Something I have learned very important from Shane was, to observe what's going on, how price behave and what it does where. Lot's of questions to ask. I drew the two narrow resistance lines about 1 month ago, just to observe once more, how price will react on them. Isn't it amazing? To catch such zones, one may ask the chart: - where is something important? - what did it to the old structures? - context? - did it break hard, slow and where is the close? ...of course, there is much more you can ask the chart to find out more. And if the people around you think you are going nuts, then you know that you are in the perfect synch with the market by talking to it to gather important information. ;-) P! - no, I did not tradet it blindly. But now i have a handle to trade it...let's observe.
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by Tr8dingN3rd
ETHUSD, long, but hold on for a choppy rideGeneral uncertainty and hesitation around the BTC fork has kept ETH relatively stagnant over the past week. In the short term I expect us to bounce off 217 and then move back up to 226 overnight. Hesitation and uncertainty tomorrow morning means very low volume , which will slowly drive us back down to 205-210. Once BTC seems to stabilize, we will see huge amounts of money to start moving back into crypto and drive ETH back to $250+.
BITFINEX:ETHUSDLong
by BigKevDawg230p
WDL - Pressure cooker exploded, now at WL1If you follow the price step by step, then you hear it talking to you... ...nope, I'm not nuts §8-) Start from the left side and read, while you follow the price and give yourself time for your one thinking. First you can see price action, and how it unfolds. Then, there is the fork, catching the frequency of price swings very good. And in the end, we see that price has arrived at the WL1 - First Warning Line. So, WL1 means, price is stretched and is trying to "relax" again. This would lead to long move. What makes me even more certain is, that price created a kind of a stabilisation zone. Let's see how this unfolds. P!
WLong
by Tr8dingN3rd
MRO - Into the buyers zone.At the mentoring group we called it a "Mountain". To me, this is just a buyers zone. But it doesn't matter how you call it. It matters, how you use it, and what you are aware of, IF you use it. Because this zone could get washed in a blink... That's why it is always a good idea to first observe, and then let the market yell at you, if there is a potential entry showing up. My guess (...umpf...guesswork...very bad!) is, that it will trade into this zone, come back and play along with the rules of the forks. This means, it will jump above the centerline, make a retest and then picking up the new direction to the north. Let's see...let's be patient...let's observe. P!
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by Tr8dingN3rd