Just woke up to see I went to sleep when we were at 208 sats. Yes we didn’t manage to complete break thru but weakened the wall to 212sats! Still lots of 500k walls but not 1m+ walls
IMO: you are so damn close to the truth, are you on the (red) pill?
Now that we had a break up from the previous bull flag and hit a high of 208 sats, we can draw a new fibinachi retracement table to see what could possibly come next. The next 3 days are going to be some of the most interesting of the year with the potential typical Sunday/Monday dips directly followed by Chinese New Year on Tuesday. On a general crypto/BTC side note, if there was ever a good time for a “V” pattern capitulation event…I wouldn’t be surprised if it happened over the next three days. But that would make it too obvious, so it probably won’t happen.
As you can see the new fib table, we are battling the .236 fib level at 199 sats. It’s very possible we bounce off that level and continue up. But with Sunday/Monday looming, we could drop to lower fib levels with a possible retest of the former purple resistance line we were under between the .618 and .5 fib levels. Based on typical market movement, it will most likely do one of those two things. In this particular case, I do not see the .382 fib line offering much support or resistance (if we happen to fall under it) at all. Ultimately, I am 99% certain we are going up. The only question is the path we take. I’ve seen a lot of people in various threads saying they are waiting on fiat funds to clear on their selected fiat to crypto gateways (like Coinbase) so they can scoop up a lot of ETN. Kudos to those of you that knew this was coming and got your bags full beforehand!
EDIT: I completely forgot the Superbowl is on Sunday too, which adds another variable of less people paying attention this particular Sunday.
Yes, I am also of the opinion that we need to go lower first, so here is my setup. We are busy with wave 2 of tha big wave (3) If one look at the big wave (2). pt look almost the same as what is playing out now?? (small wave 2/(3)? The big buyers love to through money in at wave (3), most profitable waves of all!
The order book became much more bullish over night. Maybe we just burst through the 200sat area.
Yes, but also a sell wall became bigger again…
There is definitely some reistance in this area. Which is quite logical.
People that dont want etn anymore sell here with ±0, some maybe even with a loss. And for people who missed the initial bounce it may be also a good pricezone to sell.
I agree that 200sats holds the strongest resistance between 150sats and 400sats but at the moment it looks like it will be broken.
Yes, chart indeed looks like it will try again to hit that 210sat level…I hope we get volume to do that
MWC19 is so close, yet so far away! We are now in a lull period without much to get excited about except cloud mining on Android prior to the conference. But I don’t expect that to move the price at all, much like the iOS release hasn’t really moved the price anywhere except back to the 200 sat range. Unless something comes out prior to the MWC, I don’t expect much action. I could see it playing out something like this:
This is complete speculation on my part…I have no real reason for the ups and downs outside of a simple visual of the sideways action I’m expecting for the next couple weeks with a take off during/after MWC to blast us over 210 sats.
Something that might change that projection is what Richard said in his email. 1 of the 2 secrete projects will have to be announced before they leave for MWC19, as they’ll need staff in the office to make sure it’s launched successfully. So around the 18th I guess…
My, (non-trader) observations…
that first bit of news is still 3-weeks away and RE has tried to down-play expectations. All we know is that the nearer it gets the less people will want to sell. However, that does not mean that buyers will be buying, as they may well want to know what the news is, before they decide to pile in.
Back in September in order to get from 0.0053 to 0.007048 it took daily volume of $1.275M. To get to 0.018 it took $7M in daily volume. BTC was also changing hands for c$6.5k. Today, thus far, we have had a fraction over $100k of ETN traded. Some have said before that we don’t really need an awful lot of volume to pump the price and I guess that if everyone decides not to sell then the price will climb. There is virtually no trading taking place on Liquid today, so I am not sure how to read this!
I had the same observations about the low volume. 100K per day of volume is as low as I can recall for Electroneum. Like it or not, Cryptopia was always contributing to the daily trading volume of Electroneum. The fact that it remains down and will likely not recover is not good IMHO. Other than Kucoin, there hasn’t really been another constant volume exchange.
Low volume, less selling, but buyers are awaiting.
Where is Bitalong and is it a community approved exchange? I searched for it on CMC and it does not show in a list of the top 100 exchanges!
Seems like miniscule amounts being traded there!
Which exchange?do you refer?
Sorry, Bitalong exchange
Bitalong 150k $US is “miniscule”?
Im just reading"evidence" what I have available to me with a screen shot ,
A reference time and a source.