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Poloniex

Ripple UpdateTrading altcoins is tricky. It's the most volatile thing ever! I first tried to buy into XRP at the circular region and immediately saw 20% paper gains. Then we all know what happened next. While I slept, altcoins dropped like flies. Good thing Poloniex has a stop loss feature. Bad thing, I couldn't make buy order while sleeping. Altcoins have since recovered with ETH setting new highs (unbelievable). For XRP, we are looking at the break of a long resistance line that starts at May 17. A breakout above 0.26 could send XRP on its way back to its previous high. don't forget to set your stops.
Long
by jzulueta19
2
BITCOIN UPDATEWhen bitcoin violently fell from its high a few days ago, it got me questioning whether this was "it," the end of the mighty crypto bull run. With more data on hand and with a cooler head, this does not seem like IT. Altcoins for the first time traded as a whole market, coins took their queue from bitcoin with major crpytos following the same downward trading range as bitcoin. Speaking of data, the downward trading range is very important. From my years trading in equities, I know that downward trading ranges are bullish on the medium term. Buyers are patient while sellers are aggressive. Lower lows and lower highers are made. It comes to the point where selling becomes exhausted and buying overwhelms selling. The first circle was the breakout. The second was a retest of resistance turned support. Right now coins are at a decision point; they can decide whether to take us past horizontal resistance or push us back down to support. A break of resistance would challenge the arrow.
by jzulueta19
Watching this support area for a possible bounceIt's very possible that the BTC rally will negate this support region entirely. So I advise waiting for the result before going long/short. As you can see, recent volatility has been throwing DASH outside of the support/resistance trendlines but it has been pulled back inside. On a wider scale, it seems a lot of alts are finding support today. We should find out soon if there will be some recovery, or the alt pain will continue.
by kristarling
Litecoin Consolidation - Two possible movesLitecoin went from 17 USD to 38 USD and corrected from there, we see it bounces at the 24.5 USD support line, but the bounce after crash wasn't that strong. It didn't retrace fully back to 32 USD thus bulls are less strong and something is holding people back. For now we see the trend channel closing in, seen as the blue curves. The gann fann (yellow) indicates the breakout resistance/support lines and at the moment the price is too low to completely push through those. This means the trend channel need to become more narrow to make a significant outbreak which will take several days. Breaking up to 32 USD to retest or if we break down 24.5 USD back to 17 USD. The reason why LTC can head back down is because Bitcoin and all Altcoins went up like spaceships and the total marketcap can potentially retrace taking down all coins altogether. Watch this chart close, set you stops and happy trading!
by TheTrex
1
Gridcoin - Poloniex : To the MOONIt's been few days that I called for Gridcoin, Right now, it finished it's correction and now I can estimate it's final targets better, here is the thing, normally I never go beyond 161% on fibo, but, Gridcoin has this history of having huge, and I mean it, huge pumps, so why not get greedy? yah this is the only circumstance that I let myself become greedy, with steps for selling, there is no problem with becoming greedy is it? so why not. Remember when I said this, if you thought Gridcoin's last move was it's actual pump, you are damn wrong, the ream move is still to come. Also, it's last time high was around 4500 Sat. I tend to go a little bit bellow max possible, that is why you see my last step being a little bit bellow that number. How long will it take for this move? maybe a week or two but I don't think it will be more than that.
GLong
by CAB_Member
7
LTC - A Never Ending Love StoryWe all want to see LTC bounce and go up to the moon... but why must it break our heart so many times along the way? This most recent crushing strike has knocked LTC completely out of short term support and back into long term levels. Right now it has caught at the fibonacci - but this is not a stable support and can easily give way to another bad day of trading. Especially following the cash inflow of legacy coins like ETH and DASH - LTC is next right?? Long Term buy.... Short term dice...
Long
by bdkelly1203
Dash : Poloniex --- to the moon !!!!Many many people thought that DASH was finished when it went over the previous All Time High and beyond it. BUT... This is just the beginning. DASH has long way to go and today, it's bullish candle was a big indication that it's second wave is starting. perfect time to get into the space ship and get to the moon with it (Remember, my swinging system always have a time goal between two weeks up to two months.) This time, I think DASH won't make me wait for too long. As you can see in the chart, it finished the correction move of the previous wave, and today, there was a bullish candle with 40% price change in it and back to the middle of the candle. If you look in lower time frames, you would see that it already finished it's mini correction for this candle and chance is that, it will go on a one sided high way up and up and up.
Long
by CAB_Member
10
ETHEUR: Long term view, chart of all chartsThis is how the Ethereum chart looks, plotted against the Euro using Kraken data. It has been the most reliable instrument to perform analysis on this pair, together with $ETHBTC from the Poloniex feed. Currently, we are tracing a daily, weekly and monthly uptrend. Periodically, smaller timeframes might be in a consolidation or retracement phase, to then rejoin the big picture trend in the monthly. Right now, we can anticipate higher prices all month, courtesy of the daily and weekly signals depicted in yellow and turquoise. This weekend is loaded with fundamental events that can further boost this rally, so I think it is logical to see $ETHEUR hit the daily and weekly top target zones in time or even earlier than expected. After the time expires for these signals, we could commence a consolidation phase, which can take a myriad of shapes, and isn't predictable yet, other than on a time duration basis. Normally, the market will absorb supply from profit taking, which takes a proportional amount of time to the rally itself, so it is logical to observe what Tim West has noted in his 'Time at Mode' proprietary method. So far, this methodology has served me well, and I would be glad to share the benefits of it with people interested in trading these powerful trends. Tim is working on new material currently, you can pm me or him to learn more about it. Now, on to the trading reccomendation aspect, if you're long, consider average volatility to determine your position sizing. During a trend, it is reccomended to gain exposure, and while consolidating, trimming it back down, or outright taking profits. Don't risk more than a 10% drawdown on a worst case scenario basis if trading long term, it will be hard to recover otherwise. Keep your coins safe in hardware wallets like the Trezor or Ledger nano, and make sure you do your due diligence when it comes to cybersecurity, and exposure to centralized exchange risk and margin trading. Good luck, Ivan Labrie.
Education
by IvanLabrie
34