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Algorand Longterm Trading Strategy. +Buy and Sell zonesFor the last few years Algorand has been one of the leading candidates for a Government-backed stable coin, already securing contracts with nations such as the marshall islands and having massive institutional backing from investors. However, due to a flawed initial coin sale, the price has lagged behind the general market this year in terms of gains. The issues with the emission schedule of Algo and its supply have been addressed by the Algorand foundation and I now believe we have the potential to see some significant gains over the next few months and years. I am not jumping on to the train just yet as it still needs to break its current channel that has been holding since late May. Hence the reason why this trading idea contains two buy zones, the first buy zone is the area I will begin loading up at if we go lower from here. Buy zone 2 is the area I will begin buying at if we have a confirmation of this current channel's break out in the upward direction. I will allocate 40% of my total purchased $ALGO to my long-term portfolio, and the rest of it I will sell at the indicated target levels. I labeled the strong reaction zones (orange) These are areas where higher volatility is to be expected if reached. This could be up or down, but they are definitely areas to watch for strong rejections and breakouts. Therefore if you see the beginning of a rejection at one of these levels I’d consider trimming the position.
Long
by Helios_Capital_Investment
BTCUSD Monthly 21 EMA significance and pin pointing past bottomsLooks like we are heading to test monthly 21 EMA as support, in the next upcoming month. We may make a bounce a little bit before hitting our Monthly 21 EMA but a Lower High will set the tone for a downtrend continuation. If we look at the past and how BTC reacted with the monthly 21 EMA. We could see that after rising up to its highs in DEC 2017, and JUNE 2018, that the market came down to test 21 EMA as support. the 2017 run held 21 EMA for a whole year before making it's crash to 3k. As we can see then, after the 21 Monthly EMA was broken, we had a 50% flash crash and found bottom. Same with JUNE 2018, although this was just the COVID -19 crash but it had the same effect when 21 Monthly EMA broke support, we had a 50% flash crash and that was the bottom for that cycle period. A 50% flash crash from 21 Monthly EMA as of right now we would hit, 12k BTC.
COINBASE:BTCUSDShort
by Detective_Conan
Bitcoin (BTC) - June 1 (volatility period-2)Hello? Welcome, traders. By "following", you can always get new information quickly. Please also click "Like". Have a good day. ------------------------------------- (XBTUSD 1W Chart) We should see if we can move above the 45211.0 point by moving up along the uptrend line (2). The 33101.0 point is a strong support point. If it goes down, you should check to see if it finds support at the 27650.0-33101.0 zone. (1D chart) The volatility around June 1st (May 31st - June 2nd) should see if there is any movement outside the 32986.0-40600.0 range. In particular, we should watch to see if we can move above the uptrend line (2). If it goes down, you should check to see if it finds support at the 30448.0-32986.0 zone. To convert into an uptrend, it needs to rise above the 40600.0 point and find support. (1h chart) Notice the movement before and after the time shown on the chart. It is important to see if the 40163.5-42084.0 section can break above this section as a first-order resistance section. If it goes down, you should check to see if it finds support at the 32290.5-34107.5 zone. The 30448.0 point may be temporarily touched, so trade with caution. A period of volatility refers to an interval that is difficult to predict. Therefore, it is recommended to protect your holdings with minimal trading. BTC direction is expected to show a direction once the volatility period is over. Currently, it forms a box section in the section 32986.0-40600.0. It remains to be seen if we can break out of this box during this period of volatility. ---------------------------------------------- (BTCUSDT 1W Chart) We need to see if we can move higher along the uptrend line (2) and move above the 45135.66 point. Point 28923.63 is a strong support point. So, if it goes down, you should check to see if it finds support at the 28923.63-32259.90 zone. (1D chart) It needs to rise above the 40586.96 point and find support to turn into an uptrend. The volatility around June 1st (May 31st - May 2nd) should see if there is any movement out of the 32974.79-40586.96 zone. In particular, we should watch to see if we can move above the uptrend line (2). If it falls from the 30437.40-32974.79 section, you can touch the 25362.63 point, so you need to trade carefully. However, it is necessary to deal with the important section, 27079.41-28923.63 section, as it may lead to a sharp rise. (BTCUSDTPERP 1h Chart) (UTC) Notice the movement before and after the time shown on the chart. ------------------------------------ (BTCKRW 1W chart) We need to see if we can move up along the uptrend line (2). (1D chart) We will have to wait and see if there is any movement out of the 38483000-47268000 section due to the volatility around June 1st (May 31st - 6th 2nd). To turn into an uptrend, it needs to rise above the 51798000 point and find support. However, it is expected to turn into a full-fledged upward trend as it rises above the 56052000-58981000 section. (Upbit BTCKRW 1D Chart) ---------------------------------------- (BTC Dominance (BTC.D) 1D Chart) We will have to wait and see if we can break below the 43.17 point. If BTC dominance is below 50, the price of altcoins is expected to show a quick recovery. The movement of altcoins is good enough to say that altcoins are leading the market this year. Accordingly, we need to look at the movements of major coins. The next volatility period on the BTC dominance chart is around June 6th. ------------------------------------------------------------ (USDT Dominance (USDT.D) 1D Chart) We will have to wait and see if we can drop below the 3.785 point. In particular, we need to watch to see if we can break below the uptrend line. To continue the uptrend of the coin market, we will have to wait and see if it can drop below the 3.374 point. The next volatility period on the USDT dominance chart is around June 13th. ---------------------------- (USDT 1D Chart) I think the rise in the gap is a sign of money flowing into the coin market. Conversely, I think that the gap drop is a sign of money being pulled out of the coin market. If the rise of the gap continues, the coin market is expected to rise in the near future. If the gap falls continuously, it means that funds are flowing out of the coin market, so careful trading is necessary. -------------------------------------- (USDC 1W chart) (USDC Dominance (USDC.D) 1D Chart) A lot of money seems to have flowed into the coin market. Funds entering the coin market are expected to be used in the coin market. Accordingly, it is always a good idea to check the movement of funds. ------------------------------------------ We recommend that you trade with your average unit price. This is because if the price is below your average unit price, whether it is in an upward trend or in a downward trend, there is a high possibility that you will not be able to get a big profit due to the psychological burden. The center of all trading starts with the average unit price at which you start trading. If you ignore this, you may be trading in the wrong direction. Therefore, it is important to find a way to lower the average unit price and adjust the proportion of the investment, ultimately allowing the funds corresponding to the profits to regenerate themselves. ------------------------------------------------------------ ----------------------------------------------------- ** All indicators are lagging indicators. Therefore, it is important to be aware that the indicator moves accordingly with the movement of price and volume. However, for the sake of convenience, we are talking in reverse for the interpretation of the indicator. ** The wRSI_SR indicator is an indicator created by adding settings and options to the existing Stochastic RSI indicator. Therefore, the interpretation is the same as the traditional Stochastic RSI indicator. (K, D line -> R, S line) ** The OBV indicator was re-created by applying a formula to the DepthHouse Trading indicator, an indicator disclosed by oh92. (Thanks for this.) ** See support, resistance, and abbreviation points. ** Support or resistance is based on the closing price of the 1D chart. ** All descriptions are for reference only and do not guarantee a profit or loss in investment. Explanation of abbreviations displayed in the chart R: A point or section of resistance that requires a response to preserve profits. S-L: Stop Loss point or section S: A point or section where you can buy to make a profit as a support point or section. (Short-term Stop Loss can be said to be a point where profit and loss can be preserved or additional entry through split trading. GAP refers to the difference in prices that occurred when the stock market, CME, and BAKKT exchanges were closed because they are not traded 24 hours a day. G1 : Closing price when closed G2: Opening price (Example) Gap (G1-G2)
BITMEX:BTCUSD.P
by readCrypto
Short Term trade Idea for BTCUSDLooks like we're making a break out of a descending wedge and broke above our 21 EMA on our short term 4hr chart. This is looking like a trade setup, the better option is to wait for a better entry if we can make a test for a Higher Low. We are currently holding 21 EMA support, so as long as that hold, we will most likely slowly creep up to test 45-50k. Our first area of resistance is 40-42k. Take Profit near top of pink channel so it all depends on how long it takes for us to get there. The reason why I make this a short term trade is because if we go on the longer time frame (1 Week Chart), it look's like we have maybe this week or next week to go up and test 21 Weekly EMA(yellow) as resistance. If resistance is strong then we'll most likely head down to test 81 EMA(purple) which sits at upper 20k. And going to our 1 Daily, we are hitting oversold on our RSI. So I expect us to make a rebound to test 21 Daily EMA(yellow) which also happens to sit around 45k. Overtime 21 EMA will lag lower and lower from this point on until we make it above it.
COINBASE:BTCUSD
by Detective_Conan
BTCUSD Downtrend Channel, Good chance to make a bounce from hereIf this downtrend channel stands true, we should make a bounce from here to test 50k resistance or 21 EMA resistance. If we do go lower and break this channel, I would speculate a flash crash. But I believe we are more likely to make a bounce from here and test 50k resistance because we are Oversold on both the Daily RSI and STOCH. If we do test 50k Resistance and we manage to break above it, then we would have a good chance to test top of pink channel. On our Weekly Timeframe. Things look very bearish if we can't make it above 21 Weekly EMA.
COINBASE:BTCUSD
by Detective_Conan
BTCUSD Trend Reversal Update. BTCUSD giving us a bit more confirmation of a Trend Change with a Lower High after falling out of 6 Month pink channel. Although not set in stone just yet, we are likely to range sideways until our 60K resistance breaks or 45k support. But 45k support is crucial as you can see in our weekly chart below. 1 Weekly. We are testing 21 weekly EMA for the first time since OCT of 2020. If broken, we might be setting ourselves up for a Lower Low which is the missing link for a downtrend.
COINBASE:BTCUSD
by Detective_Conan
CountOnCrypto - Ethereum Forecast 02/05/2021 Good evening ladies and gentlemen, I have spotted a potential head and shoulders forming on Ethereum. My short-mid term bearish bias is similar to my last idea. I have since taken some more profit from ETH:USD to stablecoin(s) ( USDC ). We have seen some explosive price action in the past weeks from Ethereum , I am with strong belief that the market is very overbought on the higher timeframes now. We have broken out of the regression trend and to me it seems we are consolidating. In my heart I am extremely bullish on bitcoin, ethereum and cryptocurrencies in general. For further outlook on the market in general, the current ethereum inflows are currently dropping. In theory; this in combination with whale capitalization will cause a sell-off. The downside price target would be a projection based on the distance between the shoulder support line and the top of the head. As always, do your own research and follow your own instincts.
BYBIT:ETHUSD.PShort
by CountOnCrypto
5
ADAUSD Showing bad signals.We could be in a downward channel after breaking our green trendline that has been holding support for the past month. A bearish EMA crossover has formed on our 4 hour chart. We are hitting oversold on our RSI and MFI but only on the hourly timeframes. Going to the Daily timeframe, we still have room to go lower. I expect next support to be near 0.5 of our fib retracement; after that, we could have a chance to test support on 81 EMA on our Daily Timeframe.
BINANCE:ADAUSD
by Detective_Conan
SHORT TETHER to zero!? USDT now illegal in the US???? New York.NY Attorney General has deemed Bitfinex and Tether illegal in New York State? And why? ag.ny.gov I'm relatively new to crypto but Tether and stablecoins are a complete scam? It's like a digital counterfeit US Dollar that's beyond the US regulatory reach? Or not? If one carefully reads New York's Attorney General - seems like she's passing the baton to other authorities in the US to deal with the matter on a larger scale with a bigger stick? A national or even international stick? How does one short USDT? Seems like a MUCH better short than the real USD? A fake crypto unbacked USD coin that's not even controlled in the US is a complete and utter joke and yet, its world wide volume beats open source, open code and undelutable Bitcoin BTC? "Houston, we have a problem in cryptospace. expect massive storms ahead and great turbulence..." "yes, I mean, more turbulence!" Tether shows the dangers of closed corporate and unaccountable owned coins. Crypto = don't trust humans or banksters, verify". Tether has zero accountability. You have to be totally clueless to use this coin for legit reasons. Who owns Tether and controls it? If you know the answer to this question, you would not hold USDT or any over unstablecoins. i am truly amazed to see that trillion of dollars is volume is moving around the planet on a worthless Tether crypto backed by a FIAT is already in big trouble.Tether is apparently backed by billions of dollars that have never been audited! Is this a joke on a cosmic scale? This is where the US Central Bank and government need to step in and ban all of the "stablecoins" since these need to be back with real FIAT from the Federal Reserves of each country. The US needs to own all *USD* based stablecoins which means investors and traders, will be fleeing away from these highly toxic "unstablecoin" coingeek.com I am not actually short Tether because I don't short scams. Too unstable. As this long term chart demonstrates Tether has a nice short squeeze. There's safe ways to cleanly make money. If the US can't figure out how to deal with a few digital counterfeiters of the USD, investors can only speak with their dollars. On the plus side, two things will happen with the looming and unavoidable Tether USDT crash: 1. The US will have someone to blame. Specifically, the two characters behind Tether. I hope they have a good army because I would not go up against the US Government even with billions of US funds. There's no place to hide in the world. Ask Julian or Edward! LOL Best to always stay on the government's good side because it might take them years but they can't allow this "st 2. All the "unstablecoins" like Tether and other non-sense "BS pegged" currencies are toxic. Stablecoins should only be issued by the various central banks. So the USD stablecoin needs to be the Fed's CBDC 3. Bagholders of toxic BS stablecoins like Tether USDT will move their money to Bitcoin and Ethereum as the King and Queen of open, unmanipulated, crypto with BTC having the lead because of Lightning L2 and its finite supply of satoshi. Looking forward to truly sovereign government backed, stablecoins from each country. Not sure which one I would trust just yet but it would become clear which countries have their house in order and which are a total farce.
KRAKEN:USDTUSDShort
by UnknownUnicorn2413721
ADAUSD testing support. Could this be our trend reversal?We may be making support @.618 of our fib retracement. But ultimately we have to see how the market reacts to 21 EMA. If 21 EMA becomes strong resistance until we eventually get a bearish crossover with our 21 EMA and 81 EMA, this would be signal for a trend reversal. As of right now we are testing lower support, and possibly lower highs. Another scenario is we range sideways between 0.786 and 0.618 fib retracement before we figure out what the next move will be. And our bullish scenario would be we make support here at 0.618 and make it above 0.786.
BINANCE:ADAUSD
by Detective_Conan
ADAUSD wedge breakout to the upside. Short term.Sorry if I'm not fast enough with updates. My days are usually hectic due to family and work. On the bright side, we have made it past our resistance area of 0.33$ - 0.36$. Given just a couple days ago we had a stark retrace to .382 of our fib retracement @0.24$. ADAUSD later formed a wedge that we have broken to the upside. Now we have to see if we can make it to 0.40$ before another retrace. I have highlighted new support area if we were to have a healthy correction. We should get a pullback to our 21 EMA at least, but it all depends on how high we can go before we do. It is also worth mentioning that as overbought as we are on the RSI and MFI on all timeframes. Sometimes crypto markets ignores RSI and MFI completely.
BINANCE:ADAUSD
by Detective_Conan