As I mentioned on previous post with tripple confirmation on 4h Ichimoku cloud we can very well see that transform into a Daily Bollinger bands support
My strategy is simple.
Take 50% profit at the .618 level at 48 sats.
Stop loss in profit and ride the rest up and see what happens especially with that Biki launch.
PS: Who deleted my previous post where I was talking about buying today and dumping tommorow or in 2 days? I still believe its a viable strategy.
14 trades in the last 30 minutes, (10:30>11:00) and just c200k coins traded. So much for BiKi huge daily volume providing liquidity and the BIG PUSH in Asia for investors. It is showing up 13% but that is based on the first coin for sale @ 0.003500usd - so still trading below Kucoin and Liquid - what a joke!!
Seems @Cryptoman976 was spot on. The price is already being controlled by bots/wash trading as someone sells at .003974 and up pops another sale .003960. We support the project and all we get is controlled at every turn. Another sad day for ETN investors and supporters.
Cant say that i disagree with your opinion. Oh well.
Another argument would be that the market opened after normal trading hours(even though crypto trading is 24hrs). Plus the trading pair is just usdt, wouldâve been better if it was with btc?
There is one big difference. ETN is currently not a top alt coin. ETN is a small cap. Small caps are simply used to make more BTC for most traders. If there is no BTC pair, itâs not very useful and wonât get a lot of volume on a USDT only pair. I wish I were wrong as Iâm heavily invested in this project, but it is what it is. I have no doubt it will succeed, but we simply have to continue to be patient.
The current movement is likely driven by fomo. But if we could find a higher level of support through this that would be nice for etn mid-long term. Otherwise a new alltime low (in sats) is still a real possibility.
Something to follow while we wait for this resistance level of 58 to fall!
This sort of keep me motivated, to know why is ETN dropping now? Follow the fractalâŚ
With the trading comp now over, we will see real volume return and a dip for the reward sell off from the bot owners that âwonâ their share of the total fake volume prize. HOPEFULLY Electroneum has learned a lesson here and never does another complete waste of time trading competition again. They do absolutely nothing for the project but hurt. I really wish I was wrong, but if a noob like me can nail exactly what was going to happen before it started, I have to believe those in the project are smarter than me and never do that chit againâŚI hope.
ETN is currently testing both horizontal and inclining support lines (and under them both on the current candle). If it loses those, I am looking for a drop to 36 to mid 37 sat range. This is quit infuriating seeing ETN would have been better off NOT doing that competition. What a waste of timeâŚyes, I am irritated.