I understand where youre coming from.
Im not looking to trading for another month or so and it wont be ETN.
Theyre all staying safely squirrelled away.!!
Im still in the accumulation phase.
Ive finished buying now for at least another week or two.
Ill be looking into a couple of other solid projects to trade in.
Amen to that! I have buy orders up at key levels based on what I believe BTC might do. If it comes to fruition, I will hit my second extended accumulation goal. But if I don’t hit it, I’m fine with that too. Big things coming, but per usual it appears we are going to have to wait a couple more months to know what they are from the mobile world congress in Feb. It seems like we get the same messages all the time. Big things coming! Find out in a month or two…then we get there and it gets delayed for anotherm onth or two…then another delay. It’s how business works, I understand. But it is still frustrating…especially after watching the video they released about the “Big things coming soon”…I don’t think “soon” means the same thing to the general public as it does to businesses.
As a truck driver or a logistics company I cant say soon to a customer.
Unfortunately they just never seem to believe you because theyve been burned before.
However Electroneum seems to fit soon into a certain timeframe and for some strange reason thiis seems to shift depending on the regulatory bodies decision making process.
More likely very wise decisions made our experts in their chosen fields.
My squirrels are very happy to hold their nuts in Electroneum.
It is naturlig to see BTC at12005 800$ and 500$ so pick your buttom,
Just for future TA if we ever get on coinbase look what effect it has.
Thats a one day chart.
I cant see that a coinbase listing has had that effect on a coin over time.
Its always good for a quick trade …sure.
I want to share something with you that I’ve been watching lately.
The Buy Orders of Bitcoin on coinbase in the 3000$ zone have fallen dramatically.
About 3 weeks ago it was 18.000, than 2 weeks ago 12.000, earlier this week 9.000 and now 6.000…
Well, maybe its time for others to rise out of the dust. Coinbase is not alone either anymore. Think thats why they fill on with coins, to keep position.
I’m not arguing that. I was showing a one day chart on purpose to show the immediate effect of the news.
ETN daily chart update on the Cryptopia chart.
The bull flag pennant that @Moonman pointed out the other day is still in tact 100%. If we are going to make a break, it is going to happen anytime between right now and the 13th. The 13th is the ultimate tip of the flag which happens to fall exactly on the 175 sat support line.
Usually we see a breakout at around the 80% mark of any flag. For this particular flag the break out should have occurred around November 27th. But in the current state of the market it has been extended and may go to the very tip.
Before getting any hopes up, we need to be cautious as there are signs of a break both ways.
Break up indicators:
Ultimately it is a massive bull flag, there is no doubt about that as being the #1 reason it should break up.
The RSI and Stoch RSI are still low/oversold with both starting to curve up, meaning we should see a rise in price (which we have to 185 sats so far).
With it being a bull flag, we should see it ultimately break up and go to around 356 sats using flag measurement techniques for a pennant flag from the tip of the conversion point at 175 sats.
Break down indicators:
Volume is low. Anytime we see low volume and a consolidation phase for any coin, it tends to break down.
You will notice when we test support lines (indicated by 1,2,3) we tend to test them very hard with wicks dipping well below the support line. On the opposite end, when we test resistance, we tend to fall quickly as we approach the line. The problem; the more (and harder) you test a line the more likely it will break. Right now, this would favor a break down.
With out any concrete project functional news (partners rolling ETN out, new partnerships announced, etc) I don’t see that big of a breakout. We know they are working on two secret projects but that won’t be revieled until the Mobile World Congress in Feb.
With all this said, the ultimate indicator is still BTC. Sentiment is BTC is going to get pummeled for the rest of this month. Will that actually happen? I don’t know. No one knows. If you are looking to invest, all I can say is cost average in if you are a more cautious person. Break up your buy orders with higher volumes at different lower price levels, then sit back and watch.
We WILL rise again. We WILL see blue skies and sing kumbaya together again and pretend we love each other for as long as the next run lasts. But we will see bear markets again as well. It’s all part of the game. The good news is the next bear market lows should be at much higher prices than we currently are at. So no matter what you do at the current time, you will be ahead if you buy in now…unless the market disappears completely, but the likelihood of that happening is next to 0. There are simply too many people around the entire planet involved now, many of them with A LOT of money…and they will protect their investment before they let it all go to zero…unless their name is Craig Wright, aka Dr Doom and a nut case.
Have a great weekend everyone!
Truthful words…based solidly on Facts and events.
Thankyou for sharing your hard work.
I like this rising green, smells a bull now if this continue.
Alright ladies and boys! We closed another day well within the bull flag at an increasingly tight range. We’ve started a new day (Sunday, the 9th) and are sticking within an even tighter range which pretty much confirms the pattern.
Things to note:
It is a Bull flag, so we have a ~70% chance of breaking up at any moment between now and Thursday the 13th.
Both the RSI and Stoch RSI are oversold indicating a move up is imminent
BTC has a massive bullish divergence…I’d provide a screen shot but I have so many lines and patterns drawn that I don’t want to delete it all for a simple snapshot, so you’ll just have to take my word for it;p A bullish divergence is when the coin price is decreasing but the Relative Strength Index is increasing forming a positive disagreement in price action. In this particular pattern, a break up happens almost every time. When BTC moves, everything moves with it.
So all in all, things look very bullish for the immediate future. But it is very possible we have a nice pop up only to be pushed back down when the market is done correcting upward. Nothing is guaranteed and anything can happen. But if I were a betting man (and I am), I’d be buying right now. Do what you will with that information, I am not responsible for whatever action you take (if any).
You’re doing a great job with these detailed daily updates. I appreciate all the time and detail you are putting into them.
I second that thank you for putting in the effort of doing this
Thank you, that is exactly how I have the bullish divergence mapped on my chart. Full disclosure, I put a lot of money where my mouth is based on all this garbage I’ve been spewing here. Let’s see what happens!
Tnx for all input. 500€ on the way
The price of ETN has currently risen above the downward sloping wedge but has yet to close above the wedge on a meaningful timescale. (4HR or Higher) We need to stay above 189 ETN for the next two hours to close above the falling wedge. Further, if we stay above 193 for the next two hours, we close above the 50 day moving average.
Happy Sunday! It’s supposed to be a down day, but I’m thinking we might have a rare Sunday up day.
No long explanations this morning. Just visuals from Cryptopia and Kucoin.