XSWAPUSDT: Attempting to Double Bottom at the 0.618 RetraceXSWAP very recently listed and there's not much yet known about the coin, however, the combination of the lower timeframe price action surrounding the macro 0.618 Fibonacci Retrace and the current trend of decreasing supply on this coin has caught my attention and therefore I see it worth playing to see if we can get some major Bullish Continuation Candles in the near future perhaps taking it up to around 10-12.5 dollars which at its current level of supply would bring the market cap up from 37 million dollars to around 3-4 billion dollars. Assuming the supply keeps going down and the double bottom holds we may even manage to go higher, but that's yet to be seen and I currently do not know why the supply is currently contracting as much as it is, but I can confirm that for whatever reason over the last 24 hours at least 3,299,262 Coins have been burned.
Scoin
BABYDOGE2USDT: Forming a Bottom at the 1.902 HOP LevelBABYDOGE2.0 after being beat down for the last few quarters has finally found what seems to be a bottom at the 1.902 HOP level and is looking to settle above the averages. If it can accomplish this I would not be surprised to see BABYDOGE2 recover the highs it made in August and perhaps even go a bit higher up to the 1.618 Extension.
MSTR: Likely To Fall Off Due to Heavy Dilution of ShareholdersMSTR is seen as somewhat of a BTC trust given its BTC holdings, however, over the last few years we've seen MSTR engaging in the obsessive dilution of its shareholders and in recent days it was announced that they would further dilute shareholders in order to buy more BTC at the highs. I see this as being totally against the deflationary limited supply spirit of Bitcoin and in my opinion, MSTR seems to be acting as more of a trap asset for those that are ignorant of Bitcoin itself. As a result of all of this dilution, I would expect MSTR to show weakness at these highs and retrace the majority of the move up it has had in recent weeks.
I will also add that dilution of shareholders going into a halving cycle, even if you though 1 share of MSTR represented 1 BTC, now would be a really bad time to be adding more shares given that BTC itself would actually be becoming more scarce during the same period, in many ways MSTR is more like your average Binance Smart Chain Scoin with the potential to add an infinite supply while Bitcoin itself has a fixed supply that can never be increased so all in all I find MSTR to be a very bad, misleading, and dangerous way to get Bitcoin exposure.
My preferred positioning on MSTR would be bear call spreads or bear put spreads, depending on the deals, I may choose one or the other or both.
MAGAUSDT: Breaking out after Stabilizing at Gartley PCZThis coin is a speculative play of mine derived from the interesting Harmonic price action this coin has given us. Usually I would ignore a no name coin like this, but I can actually see potential in it making a 100% retrace to the upside, so I have at least taken a shot at it and so, I will archive the trade here.
If the breakout fails, it could come all the way back down to the Gartley PCZ so I'll have to be extra careful about that but overall the range looks good.
TX Swap Attempting Tweezer Bottom at 1.618 Fibonacci ExtensionTX Swap after breaking out of a Falling Wedge pattern now finds itself attempting to confirm a Tweezer Bottom Break-Hook-Go with Bullish Divergence at the 1.618 Fibonacci Extension with elevated volume. If this turns around from here, I think the upside move could be quite dramatic.
REEF/USDT Long scoin tradeREEF/USDT conservative long idea at key support level. Bitcoin is looking strong, keep in mind that a correction in the short-term might be possible.
TP1: 0.01514 (0.236 fib level)
TP2: 0.01964 (0.382 fib level)
TP3: 0.02327 (0.500 fib level)
SL: Not cast in stone.
SHIBA Trade SetupAs we go into the weekend here is a little trade setup in the altcoin market that looks ready for a nice runup.
SHIB is currently tying to put in a bullish engulfing Japanese candle stick on the daily as well as finding support at a strong local support level. If this level holds, SHIB could find itself in a 25% move to the upside if this Bullish Butterfly Harmonic pattern is to play out which would give it a tentative targeted move to $0.000009 roughly.
However, once this target hits, I would be expecting the D leg of this harmonic to bring us back down past our previous low set around July 20 by doing a 120% retrace of X to A. This would give us a final price target of $0.00000448 roughly. This area should make for an excellent buy opportunity.
Keep in mind that as always this does not have to happen. $0.000009 is the immediate target I am watching for but it would not be out of the ordinary for SHIB to retrace shallow and not do the deeper .886 retracement I am expecting. This is something to keep in mind as well but due to the fact that we are holding snuggly on the .236 local Fibonacci level, this was enough assurance for me to take a long.
Also keep in mind that this does not have to play out in a few days. I expect this to take roughly 1 to 2 weeks as that is the time it took for the B leg to play out. If this is to be somewhat symmetrical, I expect about the same amount of time to complete the C leg as well.
Apologies for the harmonic coordinates being a hair off but hopefully you get the general idea as the pattern is most definitely there.
Lastly, something to always watch for is a dump in Bitcoin price. Everything in the crypto world has a strong beta to the king Bitcoin, so if Bitcoin is not performing well that could effect the outcome of this trade as well.
On the flipside, BTC has seen a nice runup and a slight pullback this weekend for Bitcoin could mean a nice pump for altcoins not named Ethereum, due to the fact that ETH has already had a major pump.
HEX BreakoutJust days ago I posted an idea on HEX and how we wanted to wait a little while before seeking any longs.
Well now, it may be time to seek longs as it has now checked off 2 major boxes from a bullish standpoint:
1) In the last 24 hours HEX has broken out of our bearish downward sloping trendline and is about 30 minutes from confirming on the daily time frame.
2) It has beautifully found support at the .236 fibonacci level and it appears to be exiting its distribution phase and entering an accumulation phase that would give it the base it needs to begin a markup in price.
These 2 simple yet powerful reasons are enough to open a position for a long with a target to our swing high at $0.171 and a tentative profit taking target at $0.1593.
There is also a lot of support below our .236 fibonacci level so feel free to use stop losses as your own gut tells you to.
$XRP to underperform $BTC in 2020Don't like this chart for the bulls
Consistent lower highs since summer 2017
Bit of a floor around 2000 - 2200 sats
Concave price action is really bearish
Wouldn't be surprised to see the trap door open on this and see all the ripple moonboys capitulate
Possibility of this coin loosing its top 10 seat. Plenty of other projects deserving of the spot.
With that said, could easily see a moon spike out of nowhere next altseason, so will hold a small amount of this s-coin.
The worst s-coins tend to pump the hardest.
Cool names, cool symbol, website design, buzzwords, shill army and advertising > use case, fundamentals, long-term prospects for fomo spikes
Just don't be surprised if this takes a massive shit and goes to 200 sats.
