Really enjoy your commentary. Im starting to have a better understanding of the markets and how things fluctuate, somewhat, lol at least it’s not as crazy as it once seemed!
I never noticed this before, and maybe it’s the latest development that made me look, but I’m starting to see Tether(USDT) as a major gate keeper, Looking at trading volumes and coin values, (USDT) seems to have a BIG link with the top coins/tokens and their high market value. More ETN/USDT pairs on more top exchanges Could open things up big time…
Thank you, I appreciate to hear that Yeah I sometimes imagine myself to understand the markets aswell, but then it turns a complete shotgun on me and invalidates my process! Many times it feels kind of like my mind is actually hooked up on the web and as soon as something is thought & or written from my brain, the complete opposite happens, just for the reason to screw with me
I completely agree with what you’re saying.
I honestly think that the Biki listing is way underhyped from our community. - That’s good though.
I believe that this could be quite a spark for some significant price action going into the coming weeks and month. But looking at the orderbook @ kucoin someone(s) somewhere seems to be in line of my thoughts.
Haven’t seen these orderbooks that sits right on the price action levels for our coin for a veeery long time.
Though I have never been a orderbook guy, but it is interesting to see these orders sit straight on price action which rarely happens.
Also someone straight out bought just short of 500k coins as i wrote this.
I assume it will be.
The first days likely have really high volume and then we drop to pretty low levels is my guess. Similar to huobi. Good luck catching some spikes
Actually wanted to post some TA from what I can see currently.
A trade is looking to become open do we close this daily candle above the yellow line @ roughly x39.7 sats AKA 40 sats.
Due to several reasons I have noted.
On the 4hour chart there is quite a few bullish signs showing.
We seem to have flatlined with bearish volume stagnating, and a increase for bullish volume within a possible momentum swing after sideways trading with multiple confirmations of support.
Another reason for my seen oppurtunity here is the Ichimoku cloud, which seems to be pushing into and possibly above the cloud - Though still early to tell so waiting for tripple confirmation here.
4h
The main reason for my oppurtunity here is the 4h ichimoku - aswell as the daily bollinger bands as they should allign with eachother do we get 4H ichimoku tripple confirmations.
I’m not into tradingpetitions, nor trading them. Not trading what so ever actually as I get way to much emotionally involved within a trade compared to a longterm investment hold. Not looking personally to add anymore as my ETN holdings should suffice fairly well. just patiently waiting in the background and doing some analysis of my best betted coin.
Been hella busy lately with work and missed the TA thread in general, which is why I sat down now that I had some spare time and investigated and figured I had some thought some may wanted to share.
*So yeah, I am not buying what I am saying above, If anyone thought so I’m sorry about that.
Always do your own due dilligence, even in a internet TA thread
The trade officially opened 2 hours ago when we closed straight on top of the line.
First target would be 43/44 sats.
Also what I forget to mention yesterday is that we had a double 1-2-3 formation on the 4H chart which is always a nice thing to see when looking for a entry.
1hour chart gave us the insight.
As you can see they are 1-hour candles and it took around 7-hours to reach it’s peak price, (thus far) which was an 8x. It then had a pull back of around 40% and then another surge of around +38% and a gradual pullback over the last 36-hours of around 35% and is currently sitting around 5x original price.
In terms of traded volume, I noticed after about 5-hours on Friday it was c150M coins traded.
I am not a trader and don’t do TA and I am pretty sure it’s impossible for a new coin anyway, so please don’t take any of this as trading advice because it is not.
Hopefully ETN’s launch on this exchange can be somewhere near as successful.
Do any of our more technically minded members have any thoughts on this?
The thing that I personally take from this is that you shouldn’t sell too cheaply, if that’s what you intend as I bet the ones on that chart above who sold for 2/3x initially were ecstatic, but then ended up disappointed as they watched it climb to 4/5/6/7 and 8x!!
Apparently it is IEO, (initial exchange offering) and an exchange coin for another exchange that BiKi have taken a financial interest in, (I think mentioned this in Fomosapien page on Friday).
Might have been pumped harder because of this BiKi interest - who knows!
If you are buying in the hope of a profit then you should only do so if you can afford to lose, AND do not need the money back in the short term.
I personally would be very disappointed if we did not get a nice boost from this launch because - a) I think the project fundamentals are more than justify a decent price boost - b) it is usually the norm for these type of scenario’s and, c) this should help address the liquidity issue that quite a few point to as one of the root causes of low price.
I’m not posting a pick of my chart because it is just too messy and I’m too lazy to clean it up for this post. Basically what I see is an ascending triangle on ETN which started on Feb 13 and the apex is March 3. The resistance line is roughly 40.22 sats which we have been testing for a few days now.
Triangles typically do not break until ~75-80% through the pattern which would put the target date for a break around the 27th or 28th. I would not be surprised to see a dip to the mid 38 to 39 sat range before a decisive move in the next 3-4 days. It’s possible it trades in the current range until then, but I would say a break before the 27th would be premature and met with a reversal in the day or two after.
With trading competitions you never know what will happen. I personally can’t stand them since they are always run by bots while real people simply wait on the sidelines for the length of the competition to see where they actually stand in value. It’s all fake and I wish ETN would not participate in them. No human trader has a chance…but that’s my own personal opinion.
Anyway, overall things look good. I will continue to HODL on and watch from the sidelines.
@Cryptoman976 Is that a view based on the existing exchanges, (Kucoin etc) and I presume it is a complete unknown as to what will happen with price on BiKi, when trading opens?
That analysis is based on the Kucoin chart. Of course Biki could drastically change it all when it goes live, however trading “competitions” are highly unpredictable so you can’t expect a move in either direction with any certainty. From my experience these types of competitions do have a minor uptrend associated with them but it is mainly fake washtrading for the sake of the competition reward only. Only after the competition will we know where ETN stands with real trade volume and price action. This is not financial advice, but I would highly not recommend fomoing in in the event we see a move up. Wait for the competition to end and buy the 40-50% dip.
It specifically states that wash trading is not allowed during the competition, (are they saying it is allowed at other times then, ) or am I being rather naive?
This is the internet. It can say whatever it wants, but bots are pretty good these days…the humans running them don’t care about rules if there is potential to win big money. Wash trading makes up the vast majority of all volume on almost all exchanges and most exchanges will say it is not allowed, but it brings them big money so they rarely do anything about it. Maybe Biki is different, I don’t know.
Yeah I sometimes imagine myself to understand the markets aswell, but then it turns a complete shotgun on me and invalidates my process! Many times it feels kind of like my mind is actually hooked up on the web and as soon as something is thought & or written from my brain, the complete opposite happens, just for the reason to screw with me 
) or am I being rather naive?