BTC and TOP alts price action.

[CrMg]

Greetings, fellow readers! I'm starting this thread in a hope to share some trading insights about BTC and top ALTs, I don't do ICOs and all those low-cap tokens and am focused on primarely top 20 coins by market cap. I'll try to make this thread as useful as possible and amopen to any suggestions/ideas.

I promise to post here regularly, but keep in mind that this blog is part-time hobby for me to keep track of my own discipline, emotions and market thoughts, as I'm not a full-time crypto trader and have a day job. Apart from that I'm working on an interesting crypto-related project for cryptocurrency portfolio management with my partners, which we will be ready to disccuss later on, as it is not user-ready yet.  

1. For now lets start with a context: here's a screenshot of past weeks performance of top 9 USDT-based cryptocurrencies from poloniex (I'm using this exchange).


This is price action against VWAP and standard deviation bands around the avergage for the past week (23 oct till 29 oct). As you can see BTC looks the strongest, ETH is catching up. Everything else besides ETC seems to be in downtrend.

2. I am a fan of IOTA (https://bitcointalk.org/index.php?topic=1216479.11580) this is why here's basic analysis of this coin on a period of next 2 month.

For IOT to get an uptrend it first has to break the 0.5 level, the trigger for this would be some major announcement from IOT team, new re so you have to monitor their blog. Another possibility for going above 0.5 is a growth of overall market, where BTC leads the way and alts catch up. IOTA has some good-looking cycles, so the next "major" dates to watch for are 23rd of november and 25th of december:
https://www.tradingview.com/x/N1TrcBXV/

My strategy is to wait here. The trend is downwards, I've already bough IOTA at avg. of 0.5 and now I'm a mid to long-term investor!

3. Some BTC thoughts: The trend is strong with this one, some people talk about H&S pattern, but IMO that's not the case here, BTC is going up unless it dives below 5600-5500, so watch it closesly starting next week. Current rate of ascending of BTC, suggests it could reach 6500 by the end of next week:
https://www.tradingview.com/x/8vMclPjw/

[1715330087]

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[1715330087]

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[faithupgrade]

Hi what can you suggest,  I sold my btc to USDT at 5700 should I buy BTC to get into 6500 or stay it as usdt. Dont know what to do. I am afraid I might lose the trade??  Thanks for your insight.

Greetings, fellow readers! I'm starting this thread in a hope to share some trading insights about BTC and top ALTs, I don't do ICOs and all those low-cap tokens and am focused on primarely top 20 coins by market cap. I'll try to make this thread as useful as possible and amopen to any suggestions/ideas.

I promise to post here regularly, but keep in mind that this blog is part-time hobby for me to keep track of my own discipline, emotions and market thoughts, as I'm not a full-time crypto trader and have a day job. Apart from that I'm working on an interesting crypto-related project for cryptocurrency portfolio management with my partners, which we will be ready to disccuss later on, as it is not user-ready yet.  

1. For now lets start with a context: here's a screenshot of past weeks performance of top 9 USDT-based cryptocurrencies from poloniex (I'm using this exchange).


This is price action against VWAP and standard deviation bands around the avergage for the past week (23 oct till 29 oct). As you can see BTC looks the strongest, ETH is catching up. Everything else besides ETC seems to be in downtrend.

2. I am a fan of IOTA (https://bitcointalk.org/index.php?topic=1216479.11580) this is why here's basic analysis of this coin on a period of next 2 month.

For IOT to get an uptrend it first has to break the 0.5 level, the trigger for this would be some major announcement from IOT team, new re so you have to monitor their blog. Another possibility for going above 0.5 is a growth of overall market, where BTC leads the way and alts catch up. IOTA has some good-looking cycles, so the next "major" dates to watch for are 23rd of november and 25th of december:
https://www.tradingview.com/x/N1TrcBXV/

My strategy is to wait here. The trend is downwards, I've already bough IOTA at avg. of 0.5 and now I'm a mid to long-term investor!

3. Some BTC thoughts: The trend is strong with this one, some people talk about H&S pattern, but IMO that's not the case here, BTC is going up unless it dives below 5600-5500, so watch it closesly starting next week. Current rate of ascending of BTC, suggests it could reach 6500 by the end of next week:
https://www.tradingview.com/x/8vMclPjw/

[giveen]

Don't consider to invest anything in alts now you did mention the fact it is going to be for mid term investment let me tell you there is going to be another SegWit in November which means we will again see alts falling it's better to do only short term trading now and set a stop loss.
If you wanna invest , do it a day before the SegWit because at that moment no matter what people will dump alts.

[Jaya912]

Don't consider to invest anything in alts now you did mention the fact it is going to be for mid term investment let me tell you there is going to be another SegWit in November which means we will again see alts falling it's better to do only short term trading now and set a stop loss.
If you wanna invest , do it a day before the SegWit because at that moment no matter what people will dump alts.

Yes. Like last fork all altcoin is dumps. Untill now it can not back to treck as normal again since its really hard.
Better for me to do day trading then long or middle term before segwit2x.

[sharan_vij]

My take is buy time for altcoins..... certain valuable alt coins are in good price

[olubams]

The last part of the analysis caught my attention and that is concerning the prediction of btc because currently, the price is tilting towards that direction which is one plus for you but looking at the time the post was made, its possible that the trend had been seen before you make the costs which is obvious anyone would have seen that coming without having to rely on some report of some sort. The bone of contention is to only put what you can afford to lose or you won't need shot term because that is only what can guarantee a peaceful sleep in case things goes sideways.

[trecore4]

Okay read it but that sound completely like a normal trader and investor of the alts. Plus I don’t think there is much difference between ICO investment and afterwards investing in it as alt coins. After the hitting the exchanger there are more chances of capturing the market cap to millions fold and hence the prices pump for the initial phase and leads to generation of revenue.


For IOTA or for any other ICO token its the same thing if they are hitting with great market cap and plus its been pumped after the exchanger listing. Early investors are always benefited but we have to look after the proper entry and exit points in the trade.

[CrMg]

Hello, guys!

Thanks for your insights! Here's my analysis for right now.
Context:
- past week,
- past day.
LTC, DASH, ZEC, XRP all are coming into play.

BTC: if you didn't buy yesterday around 5700 - 5800, now I would rather wait it out. Trend is upwards, this is just not my setup, I like to buy at pullbacks. We could see inside day today and continued breakout tomorrow, watch price action closely. BTW, tuesdays are statistically among best performing days for BTC (more on that later). But this doesn't exclude possibility of continued run upwards today. Targets are still the same - around 6500.

LTC: Daily TF looks like price is building an ascending base around the trendline.
4H doesn't show any trend, more like a consolidation, I would like to see break above 58, retest with my EMA 34 clearly sloping upwards and then look for a trade.

DASH: Same as LTC here, don't see much and would rather wait for confirmation that current pullback from the end of august is over. Volatility is falling, trading volumes are falling, local trend will be established when price breaks 300 and retraces.


XRP: has good support around 0.17 - 0.18, but price action seems to be stuck in consolidation between 0.20 - and 0.30 (judging by most recent pullback). I like the Idea that recent lows are getting higher.
I bought at the arrow last time around 0.20, but didn't close out the trade and now am stuck with the position.

That's it for today, as I'm at work! Will be back later tonight.


 

[deadsilent]

Don't consider to invest anything in alts now you did mention the fact it is going to be for mid term investment let me tell you there is going to be another SegWit in November which means we will again see alts falling it's better to do only short term trading now and set a stop loss.
If you wanna invest , do it a day before the SegWit because at that moment no matter what people will dump alts.

Yes, there's upcoming fork on Bitcoin in November. So expect the altcoin market to bleed for weeks again. But actually that's the right time to buy altcoins because they are way more cheaper than before. Actually, i bought some miotas a long time ago. Not that huge but i think i could get huge profits from that in a ling run. IOTA is a good long term invest because the devs are very active. Im pretty confident about this altcoin. I have some SYS, STRATS and XRP on my bag too.

Anyway, can't blame others why they dump altcoins for Bitcoin. They want quick money. So this is the best and quick way to get free money. Segwit2x seems good though. I think it's price may be higher than the other forks of Bitcoin.

[CrMg]

Don't consider to invest anything in alts now you did mention the fact it is going to be for mid term investment let me tell you there is going to be another SegWit in November which means we will again see alts falling it's better to do only short term trading now and set a stop loss.
If you wanna invest , do it a day before the SegWit because at that moment no matter what people will dump alts.

You mean there will be 4th version of BTC? This is getting ridiculous

[faithupgrade]

Hi Mr.  OP I just bought some STR because of the tanking formation in a triangle pattern.  Can I have your insight about STR XLM? Do you think it will pump or will go down.  Thank you.

[reflector]

Don't consider to invest anything in alts now you did mention the fact it is going to be for mid term investment let me tell you there is going to be another SegWit in November which means we will again see alts falling it's better to do only short term trading now and set a stop loss.
If you wanna invest , do it a day before the SegWit because at that moment no matter what people will dump alts.

Investing in altcoins are not big matter still you can trust and invest your money in that. If you want to go with the altcoin ICO token sale you have to go through the white paper release and blog of them. If all fine you blodly invest your money towards. Still bitcoin investment option is more than altcoins one, value is growing and adoption takes bitcoin in better place.

[bitcoinisbest]

Hi Mr.  OP I just bought some STR because of the tanking formation in a triangle pattern.  Can I have your insight about STR XLM? Do you think it will pump or will go down.  Thank you.

Stellar has recently being dropping a lot. I saw it last week it was much better and poised to set to move ahead but not sure what made the prices pull it down. Most of the altcoins are now moving in the other direction as btc. Btc is rising but altcoin are going down in value.  Lets us wait will it start to rise from here or still fell more.

[CrMg]

Hi Mr.  OP I just bought some STR because of the tanking formation in a triangle pattern.  Can I have your insight about STR XLM? Do you think it will pump or will go down.  Thank you.

Sure, here are my charts of VWAP
1Y: - can't really say that this looks very strong, VWAP is trending down, price is flirting with it.
1M: - sideways price action, confirmed by flat VWAP, price is below it and could test lows around 0.025

Daily TF looks good though - we had a nice impulse up and break from the consolidation (shaded area on chart) and top of consolidation around 0.025 which coincides with 34 EMA (which imo tracks trend really well).
I would watch STR somewhere here and would look for longs around 0.025 with confirmation on lower timeframes, if you already bought i suggest HODL with stop below the middle of consolidation  (0.018 - 0.019) or even beter around 0.01.

[CrMg]

Remember guys I promised to break down avg. BTC gain by day of week?
Well, here it is: I took polo data from 1 jan 2017 and calculated avg returns (in %) by day of week, here they are, judge for yourself:

SUN   0.08
MON   0.24
TUE   0.16
WEN   0.08
THU   0.22
FRI   -0.01
SAT   0.10

Later on I will break this down by trading sessions (Asia, Europe, USA) This is a bit tedious work, so give me some time =)

[CrMg]

Here's month of october in context:
As you may see, BTC is an undisputable winner. Everything else just doesn't look so good.

I'm hodling Bitcoin Cash, as I recieved some of it because I was holding some BTC prior to the first fork, glad to see it started tanking again, just by looking at daily TF i can say that downtrend is broken for now, as the price breached middle of october high at 400, this is the price where it would be nice to look for longs if price retraces there.

[CrMg]

So BTC reached the target of 6500 and continues to go higher. Current run up timewise is the same as previous leg when BTC went up from 2K to 5K, so i'm anticipating a pullback.

[jorneyflair]

IOTA is definitely interesting since it has been in a downward slope ever since it first got pumped. Not much action happening and it has dropped out of the top 10 cryptocurrencies market cap as well, which isn't exactly great news.

Also, the fact that btc is getting pumped means that altcoins are suffering right now.

Once BTC sees a dip, alts will rebound.

[CrMg]

IOTA is definitely interesting since it has been in a downward slope ever since it first got pumped. Not much action happening and it has dropped out of the top 10 cryptocurrencies market cap as well, which isn't exactly great news.

Also, the fact that btc is getting pumped means that altcoins are suffering right now.

Once BTC sees a dip, alts will rebound.

Yep, I hope so, I'm stuck with my 5000 MIOTA! it is trending down and i would like to see huge volume on it around 0.3 and lower!

[jorneyflair]

IOTA definitely is an interesting choice. Their team is also interested in implementing anonymity into their coin which is extremely promising if they can actually pull it off. However, the currency itself is definitely still quite young.

Lots of potential to show, in my opinion. But right now, we may see some further dips before a pump back up to 0.5 USD+.

The downward trend has to stop soon though.