A place to discuss etn trading on huobi
At what resistance should I sell?
I know talking about selling etn is bad language.
Come to the ETN TA thread. I may post some basic strategies for people who want to join the trading challenge. ETN Technical Analysis Society
I can also post it here.
Yea that would be great, I thought it better to have a huobi specific topic, not to get lost or derailed in the main TA thread.
Here is what I’m looking for on the hourly and smaller timeframes.
To win the challenge we need to create volume, but we also dont want to loose our coins by putting stupid trades everywhere.
We broke support at 168sats.
Now we need to wait and find a new support line, that will create a new support zone, that will be the time to buy.
Sell will be around 168sats then.
Breaking over 168 sats again with decent volume will also be buy. with stop loss under 168sats.
I would much prefer short selling in such a market, but thats not possible I think.
So yesterday we saw a substantial increase in volume because of Huobi.
I get that some people who were already on Huobi would have bought because the coin is now available on there any they already had an account.
What do you think has happened to those coins now?? Do you think people will have taken a profit and resold or do you think there are a few people with a bag-full and we are now back to the usual sell-off by miners??
I dont think miners have a big impact.
There is around 16M ETN mined every day. (Blocktime 43sec, Block reward ~8200ETN). Not 100% of miners are selling so the number of ETN sold by miners will be smaller than 16M. ( Please correct me if my math is wrong. )
Volume is much higher than that. So In my opinion miners are not moving the price most. Its mostly people who got impatient or they want to sell to buy another coin or cash out.
Blocktime is actually around 120seconds. So it will be only 5,5M ETN per day mined. That just wont have a big impact.
I think the blocktime is ~2 minutes rather than 43 seconds but you’re right - miners aren’t the biggest of problems.
I should have phrased the question differently - I was probably trying to ask whether you guys thought that the increased trading yesterday meant there are more people with some full bags or if it was all day trading to skim some profits??
True I got it from https://electroneum101.com/statistics/block-time.php And it said 43 seconds when I checked.
That makes it even better. So its way less ETN mined per day even.
I’m afraid I’m just a “benchwarmer” on Huobi at the moment.
Will be lurking around here until that changes.
I am waiting for my crypto to arrive at Huobi, market is playing along, in my case
Sent over another few k. For now.
Need to be sure about withdrawals.
you are still here mate
Just to confirm everyone how right i’m, little reminder
Wouldn’t be great if someone on this forum win the big trading bonus!!
You can do it tika if anyone can.
LOL, no I am way too novice in this game!