Get started

Kraken

XMR USD - DJ's in the house, soon!XMR gave a dream rally in recent days, but as we always say, what goes up, always comes down (BTC might be an exception :P) Once again, banking on the mixture of Moving Averages and Fib, we are expecting XMR to dip towards 220-225 level against USD. The tricky part is to catch the right buy level as moving average, as name suggests, is MOVING. I am placing buy order at 225 USD with a stoploss just below 61.8% Fib level (216). Fall below this will open doors for 190 or even 165. Targets are the Fib Levels, that is 252 and 299. Happy Trading :)
KRAKEN:XMRUSDLong
by a.rafay
1
LTC USD - Worth a shot!Sometimes you just feel comfortable about a particular script/coin and than you see some indicators helping your claim. LTC USD is one pair where I can claim gaining profit almost 100% of the times (touch wood). Every pair has its own way of following technical, in LTC, I believe Moving Averages (MA) play a significant role. Currently we see a bigger gap between 9,21 and 26 MAs and this is what I am planning to exploit, hence the targets can vary on daily basis. The green box on the chart is my range of buying, with ideal price on the green line, however that might not be available as 26MA will be moving upwards, so keep an eye on 26MA. My orders are spread between 82.5 and 84. For the sell target, I am targeting 96, but that is also dependent on 9MA, keep an eye on 9MA, that is actually the target. Red line is the stoploss on closing basis, watch out for false break as it happens a lot in LTC. Happy Trading :)
KRAKEN:LTCUSDLong
by a.rafay
1
Harmonic Patterns Are Still Applicable - XMLXBT Gartley $XML.XI try my best not to use complex trading patterns in the crypto space only because trend line analysis works very well, but when my brain sees a familiar pattern, I get all excited - Here is a gartley pattern formation for XLMXBT with beautifully executed levels and the trading wave reaching near the 38.2 retracment level which is a resistance level for XML - Possible Target 2 @ 61.8 retracment level possible (0.00000756 BTC|XBT) Note that the market respected the trend line first before the 38.2 RT Resistance level (0.00000594 BTC|XBT)
Long
by EJSM
ICN: A coin to watch!ICN has been in a strong downwards momentum for the last 109 days totaling in a 82% loss after an excessive pump in June unfolded. I am not going into the technicals of ICN , the project runs and is healthy. I am not basing my arguments for a potential rise on these things. Technicals are just a smokescreen in the altcoin space, whitepapers, projects, partners - just tools to create hype. Most of the coins will need years, some even decades, to have real life usage and prove their worth - the rest dies way before. So what makes the price going and this chart interesting? Basically we see three main components in every market: Market Movers, Novice Traders and Hype in three main market phases: Accumulation, Pump and Dump (Distribution), Retracement, How does this play out in the case of ICN ? Well, let's try to find the footprints in the charts. As the chart and price action suggests, we can expect to see ICN bottoming out and enter the accumulation again. While the bottom is not clear yet, it may as well go to bottom line 2 especially with the pressure of Bitcoin and the coming hardfork, I suggest to keep ICN on the watchlist. I surely will have an eye on this. Depending on how the market continues to move, I will enter preferably between bottom 1 and bottom 2 close to the BTC hardfork.
I
by PlainviewCrypto
Bitcoin Bulls reaching a crescendo - BEWAREIn my previous idea (25 September) I explained the mounting pressure on earlier buyers to take profit now, at a time when there is no longer any question about whether or not we are in a bubble, the only question is: How far in? From that idea I took a small short and covered it at a loss for 0.25% of account (1 x 400th of my trading account). But the long term picture has not changed and I have a new small short open. The key to Bitcoin is zooming out on the chart and a bit of patience. On a reputable exchange that has not undergone any existential crises (hacks, regulators, etc.) in the past year such as Kraken, there is a very marked decline in volume between the major leg up from mid July (orange arrow on chart) and the recent leg up to ATH (red arrow on chart). Make no mistake – this is a classic bad sign – rising price but lower volume. It means that many are still hoping for higher prices (even sellers are not so urgent) but not nearly as many are buying anymore relative to previous months. As well as this, today Bitcoin is struggling to keep above major resistance (around $4213) in comparison with the return from the last major bounce in mid-July when it was already convincingly past the same relative resistance (around $2540). The same time has gone by following the bounce but Bitcoin is clearly not doing as well this time around. One thing is clear – the long-term trend started at the end of 2015 is weakening; the question is how much longer can it hold? I believe that the big correction is already underway. It will take longer and be more excruciating than the bubble burst of prior years, because there are more participants and more bulls to wear out. This will take significant time. A word on the bulls – it is just after a long-term ATH that they become the most shrill and defiant. It was exactly the same in 2013/2014 – bulls of all classes defiant as ever as the market dwindled until it reached a small fraction of its peak size and everyone slowly became bears... too late! It's classic denial and it affects everyone – from the lowliest amateur noob to the most reputable pro traders on here. We are all human – no-one is immune. Ultimately everyone is talking their book, myself included. But either the bears' or the bulls' book has to be right. If it turns out that I am shorting too early then I will take another couple of small losses on account between here and $5,000, and will be looking for increasingly larger short positions from the moment we start approaching $6,000, unless volume magically picks up to hitherto never seen before levels, something that has very little chance of happening IMO. It didn't happen in January 2014 when everyone was screaming we were going mainstream, and it won't happen now. I will be following more or less the projections of www.tradingview.com who has a peak projected for sometime in November, which is the most reasonable view here. I just think (and have seen it happen many times before) the Bitcoin market moves quicker – both up and down – than most people realise, and the bear market he projects to happen after his November peak is already starting now. Unless you want to lose your money or HODL paper losses for a long time, don't pay attention to the predictions sending us to tens of thousands and beyond in 2018. It doesn't matter who these predictions come from – it won't happen. Be careful – there are many pro traders, hedge fund managers, and other apparently competent analysts in this camp. They are either early to the game, have no experience of Bitcoin and are therefore are high on Kool Aid right now, or have no scruples about always talking up their investments no matter what. There were many such pros calling bullish ideas following the 2013 peak, with predictions for $100,000s per Bitcoin by 2015 etc. very common. Just remember, the SMART money is not buying now. It's now up to the DUMB money to take this higher, if it can.
Short
by BRRD
6
Bitcoin – the unwind beginsZooming out (3-day/weekly) on the charts of some of the major exchanges today shows flattening / decline in volume, particularly with respect to the prior two major legs up in price (end-March to end-May; mid-July to end-August) – while the price is going up the volume is changing direction. Note: for this analysis I can't take seriously the charts from either new exchanges (customer uptake skews things) or exchanges that have suffered major setbacks during the last year (Chinese exchanges with their huge drop in volume in 2016 due to heat from regulators calling an end to wash trades; Bitfinex with the major hack a year ago and subsequent drop off and re-uptake of customers). To get a good idea of demand one has to pick the exchanges that have run as smoothly as possible throughout the period in question, such Kraken and Bitstamp. As this decline in volume is witnessed the weekly MAC-D indicators of the exchanges shows that unless a significantly heavy week of buying materialises now, a move into red territory will happen on October 2. The last time MAC-D was in the red was in March, with no significant time spent in the red since this time in 2016. In brief a correction here is well due. The mid-term view backs up the view that buying pressure is significantly weakening – the daily charts show that the bounce started on September 15, while creating a significant green volume bar, has not continued with nearly as much vigour as the bounce that began on July 17. Indeed the volume of 15 September was likely caused by shorts closing, not long-term buying, a factor that will act to lessen any possible “short squeeze” if the price does go back up. Something that some traders watch for to assess bullish pressure is a strong start to the beginning of the week, the logic being that deposits made at the end of the prior week can take several days to be credited, leading to a build up that creates strength early in the week. So far, the buying pressure has been very lacklustre this Monday September 25. This is an inexact way to analyse the market to say the least, but it is nevertheless one thing to keep an eye on, among many other factors. Finally, zooming back out, the most important thing to consider is the current risk/reward of taking a long-term trade. Reading the analysis of other traders on tradingview one can see various bullish views. To keep realistic and within a reasonable long-term view (ie months / years rather than decades) we have to discard the projections for tens of thousands of dollars per Bitcoin upwards. So (ignoring short views) we are left with long views from traders who project possible new highs of somewhere between $5,000 and $8,000. The problem here is RISK/REWARD. For anyone who has been investing or trading in Bitcoin for significant time (1 year plus) the prospect of going from $3,750 to $6,000 is nothing special! Don't get me wrong – for any normal investment it is a great return, but for the long-time Bitcoiners / crypto-enthusiasts (who also hold a much larger portion of the total outstanding Bitcoins in comparison with the vast majority of other Bitcoiners) it is nothing. They are used to returns in the 1000% + range. What does this mean? That there is fast-growing pressure on those long-term Bitcoiners to take profit. The risk of holding on longer for meagre returns compared with what they have already achieved is far too great, when the speed with which a crash can occur is well-known to them. They know only too well what the last bear market felt like. To balance this vast amounts of new bullish capital are required to make up for the disproportionate amount of wealth held by the few long-term players. But new players with half a brain can see that they have missed out on an 800% rise since this time last year, and now have the prospect (according to the most reputable traders here) of at best a 100% return at an extremely risky possible end-of-trend moment with more downside beckoning.
Short
by BRRD
17
BTCUSD Consolidation Breakout - LONGI am analyzing bitcoin on the Kraken exchange - XBTUSD. After the China ban on Bitcoin news on 9/8/17, the price of BTC saw a modest drop of ~13% from ~4676 to ~4139 (a previous support level). Since then, the price has held steady above this strong support. BTC has been going into consolidation and may soon see a bull break. My target entry will be between 4150-4200. Profit target 1 will be at the resistance of 4728 with a 2nd profit target just under the all time high of 4971. Stop loss should be set below 4100, depending on your level of risk. Trend reversal may be confirmed by a strong bull candle on the daily time frame. RSI will likely not be a good indicator here because of price consolidation, but stochastic RSI can be used. Please let me know what you think and happy trading!
KRAKEN:BTCUSDLong
by Kennfucius