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.
Pumpanddump
FUN: The fun hasn't even startedI want to highlight a relatively new coin in this Idea: FUNFAIR .
As the chart suggests Funfair has not seen a lot of market action yet. So why would I talk about it?
Well, two reasons:
1) FUN is moving in a nice channel, respecting the upper and lower boundary (with one exception that got cleared the following day), and is currently approaching the lower boundary again.
2) The dev-team announced that in the coming weeks there will be a rebranding, a massive token burn and other news and announcements to come.
Number one would probably set us up for a nice short term trade, if the lower boundary is respected again. Number two may set us up for a massive pump.
I will enter this market with a risk adjusted stack if the lower boundary holds again. From then on I will see how things turn out, if the boundary breaks, I will adjust my entry point to a later position.
Looking at the dev announcements, the regular social media mentions of the coin and the price action, I think this could be a good opportunity to strike a massive profit.
Be aware, that if you take inspiration to do the same, the key factor you need in this is patience and discipline.
This coin may as well go lower than the boundary and the hold time at the current time is unpredictable, so adjust your actions according to the risk.
XLM: The party isn't overSo, after the hype and excessive rise of XLM/BTC yesterday, today the sentiment shifted to negativity all around.
After the PBC buy alert leaked a real frenzy for the coin started, pushing it a whole 50% up, closing at 0.00000524 BTC.
From this point on it dropped down to 420sat and has established a channel channel between 420sat and 450sat throughout the day.
Adding to that, the returning strength of BTC/USD pushes almost all alt-coins a bit down. (Someone get rid of the Bully please)
People on crypto-related social media are already calling off the pump, claiming it failed. But let's put the above chart into perspective.
People in the cryptospace really became obnoxious with their constant impatient longing for pumps, profits, "the moon".
Reality is, while people are already impatiently calling off this pump, it is just getting fueled.
Before the huge pump in May we had a considerably similar small pump in April:
which lead to a consolidation and extended accumulation frame unfolding in the massive pump of May.
So what are these Mini-Pumps for? Getting rid of established resistances, testing market reactions, creating hype.
The novice trader may be happy with his (at max) 50% profit this mini-pump gave him, while I am sure 90% lost out to sell the peak and sold into the accumulating strong hands in the 420sat area.
The market movers are not interested in these small sum games, they will push this coin way up and let it bleed dry again.
Market history, price action and the upcoming events call for a hold, aside of the usual altcoin market psychology.
[BUY SIGNAL 1:30 RISK:REWARD] BLK/ BTC Poloniex Bullish PennantBullish pennant pattern just formed, buy trigger set using Guppy Count Back Lines method, if it reaches the prices of 6114 sats I will buy in at 6115, sell targets are 7000(+15%) and 7950(+30%), I will sell half on the first target. Do not jump in before a clear breakout.
Expanse EXPBTC: Massive PumpsSo here's something different. This is far from technical in the traditional sense, but when I was searching around for different coins that had strong teams, concept, etc but low market cap, I found Expanse. It's an interesting platform in a lot of ways, but the marketing is really bad to me. The videos are out of some bad new age, sci-fi flick. So this coin isn't part of my core holdings, but I'm interested to flip it as I noticed that it is really prone to massive pumps every now and then. So I took the smallest of these pumps and marked it out across all the previous pumps (green bars) and found a nice 'safe' estimate of an exit point. A bit high risk and may take time, but I've dropped a small amount in to see what happens. The pumps are fast and extremely short lived, so I've already placed my sell order and my target price. Let's see what happens.
BTSBTC Huge pump and dump! Still more room to drop.Currently we are testing Uptrend Support 2 and are near the .718 fibbonacci. If bounce doesn't happen here we will watch for bounce at the 0 fibbonacci and Uptrend Support 1. BTSBTC is a massive pump and dump and has dropped in huge fashion like this multiple times before.
BTSBTC is volatile so I personally won't buy on the bounce - I am more interested in buying if it breaks the Downtrend Resistance. My usual would be then to buy when BTSBTC retouches its new support but I will update based on this.
I'll answer any questions on this!
Donations if you feel inclined in BTC : 1PdYRwtiiyrs5fZw778XKD4SX3f8iaxMnd
Best,
Aaron
Don't panic... yetTwo big dumps in one night, we are clearly swimming in whale shark infested waters. However, even with hundred of millions dumped within minutes, SIA remains within pitchfork range... for now. The support is too real.
DDD - 3-D Sys, the classic Pump & Dump IMO
See the wide green range?
This is the phase where big investors accumulated.
Then, they pull the string...big Arrow:
This is where the little investor is trapped into this super hype.
While little Joe is buying on the sharp up-move and become more and more greedy, big investors are selling all the way up until no more "chair" is left...
This is how they make their fortune.
They have time (and enough money) to wait for payday.
P!
DRYS LongExperimenting with CM's Pivot Bands and noticed this set up. Will cut losses quickly with this, usually a P&D.
Dogecoin: A perfect experiment on human greedDogecoin has no purpose other than being pumped and dumped. Thus it is a truly natural market, where everyone is driven not by any rational arguments but only by a strong wish to make money. For a savvy speculator it is of no difficulty; though new players, driven by mostly by newslines and Twitter trends (which always appear too late), do consistently lose money there and get either really angry, initiating panic sells or hopeful, holding their losing positions, but then become even angrier as they sell them lower than the initial price decline. Emotions being the only driving force for price, they appear in their purest form and with a consistent cyclical pattern, which can be seen in price patterns.
On the chart I've highlighted bearish periods of DOGEBTC and a major resistance level. I guess it is not hard to deduce that the next DOGE pump will happen in 2-3 weeks :D
EYEG - SHORTStockpalooza.com is being paid 100K to promote EYEG. It's a pump that will eventually crash.
Shorted at $3.30 and covered at $2.70. It will probably crash more but I'm taking my 18 % profit.
Short the Pump $GOLStocks that spike, like $GOL here, are always of my interest.
This big gainers spikes with almost to no news out. Purely hype.
Also, it has been trading under the 50MA since Sept. of 2015.
My goal here is to short it at around .57 (resistance), cover half at .42 (daily support), and the whole at .25 (lowest support it has had.)
If it decides to break above .57 , I'll look to short it near the 50MA
Would not go long until it can show that it can break .80 .
Bitcoin Market Crash Cycle Comparison - Launchpad
twitter.com
If you are familiar with this image, you'll understand very well that market crash cycles can be found in every corner of the market. With the only similarity between all markets being the human beings behind the money (price), it would be sensible to think that the psychology & emotions behind these humans play a pivotal role in understanding markets and trading.
If we can break this market structure down into 4 easy-to-understand parts, we would come up with something like this:
1. Accumulation
2. Launchpad
3. Pump
4. Dump
Relating this to Bitcoin, it seems like the year long accumulation period is over, as $BTCUSD broke above major resistance $300 in October 2015. Based on my interpretation of the market crash cycle, we have now moved into the launchpad phase with our current price action raging between $294 and $502.
If Bitcoin continues to be the leading blockchain network, it should become widely regarded and generally accepted as the base currency of other cryptocurrencies. In the shorter term, the bitcoin halving happening in Q3 2016 will set the stage for a pump, and for that to happen, MMs must maintain the uptrend structure formed since October 2015. Any breaks below structure will either delay the pump, or lead to another downtrend.
Upside targets are $710, $995, and $1163.
Downside is $341, $280, $220, $160.
$NHTC eaZY 1800% Basic TA [ SnipeSnipe ]Look at this Market.. ok ok.. it doenst matter which market, but this is gone wild for the last couple of months.. perfect market cycle.. even foconacci Extension was working.. =) So lets crack da Nuts..:
Whats going on and on and on - every market every TimeFrame:
1. Accumulation
2. First Pump
3. Accumulation
4. Second Pump
5. Accumulation
6. Third Pump
7. Distribution
8. Pullback
9. Bounce
10. Sell off
Questions..? No.. Onto da next one.. Search those gems.. wait .. wait.. ALL iN.. $$$ ..! =)
DGLY - Insane Spike, setting up a killer shortthis is getting out of control,
on the back of traders momentum, nothing more,
this will fall away once the hype dies down.
