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Dogecoin - Anyone on it? on 16:18 - May 10 by StokieBlue
Expected by whom? Based on what?
SB
Based on the project and current market caps etc.. TRIAS has a solid team working on new tech that’s backed by the Chinese government, it’s not just an ordinary coin and it’s seriously undervalued.
I’d definitely say look into it, obviously don’t just take my word for it.
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Dogecoin - Anyone on it? on 17:12 - May 10 with 3629 views
Dogecoin - Anyone on it? on 15:01 - May 10 by J2BLUE
Seriously, what gives these things value. I know it's value placed upon them by the perception of people but why? How are they distributed? There are so many now.
Not the foggiest idea....just buy the mutha fekkers!
"They break our legs and tell us to be grateful when they offer us crutches."
Dogecoin - Anyone on it? on 17:12 - May 10 by tractorlad01
Based on the project and current market caps etc.. TRIAS has a solid team working on new tech that’s backed by the Chinese government, it’s not just an ordinary coin and it’s seriously undervalued.
I’d definitely say look into it, obviously don’t just take my word for it.
That just sounds like the standard hype which goes with any new altcoin, they all say it's a solid team with new tech but you have caveated it by saying people should look into it themselves which is good and people definitely should do that.
However, why on earth would you want to be involved with anything that's backed by the Chinese government?
SB
[Post edited 10 May 2021 17:37]
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Dogecoin - Anyone on it? on 17:42 - May 10 with 3582 views
Dogecoin - Anyone on it? on 17:34 - May 10 by StokieBlue
That just sounds like the standard hype which goes with any new altcoin, they all say it's a solid team with new tech but you have caveated it by saying people should look into it themselves which is good and people definitely should do that.
However, why on earth would you want to be involved with anything that's backed by the Chinese government?
SB
[Post edited 10 May 2021 17:37]
Think I'd rather gamble on Ainsworth getting the PNE gig..
Dogecoin - Anyone on it? on 13:46 - May 9 by midastouch
Something I didn't notice the other day (as when I looked in the week I was looking at the hourly chart rather than the daily chart) is that BCH had a nice bounce on the daily chart off a key level.
Where I've drawn a ring it shows two very important levels, one was a Fibonacci retracement down to the important 61.8% level and this also lined up very closely to the black sloping line which is the 50 day EMA (exponential moving average). Those two coming together looked a great short-term buy opportunity. If the price doesn't hold its current support level though it could come back down and retest the £880 level I mentioned in the week.
Dogecoin could do with holding the level it's at now which also lines up with a support area on the chart as well as the 50% Fib retracement level.
If it doesn't hold there then the next support test area could be around the 33 to 30 cents level. If it can hold where it is now and build support then no need to panic. However, if it doesn't the next tests of support will most probably be around 33 to 30 cents or even possibly as low as 25 cents.
Price briefly tested the £880 level for BCH tonight. Price has since had a bounce from there.
I had a feeling that level would be tested again fairly soon, as I initially said on the 6th. However, I actually thought it would be tested within 1 or 2 days of originally analysing the situation, so I was out in my timing by a couple of days. Although better late than never! :-)
Dogecoin is down around 18% today currently. It needs to hold this key support level (as ringed and highlighted) if not there could be more downside.
That level has just about held firm for a couple of days. I'm keen to see if that support level holds or gets breached over the next couple of days.
Bitcoin's having a fun day courtesty of Musk/Tesla.
Strange decision to buy in, then pull out in 49 days citing environmental concerns!?
Yes the price certainly went south yesterday as a result. That video warning I posted just above proved most timely! Where BTC goes the rest tend to follow. Most of them work in correlation.
If BTC doesn't hold the level it's at now then £31k could be in play.
Dogecoin is clinging to that level I posted (only just though!) and BCH dropped just below the key £880 level I keep banging on about yesterday. It's got a bit above there today but that level is likely to see a lot more action going forwards I reckon.
BTC priced in £
Dogecoin priced in $, just about clinging on to the key level I posted about already. Only just though!
BCH priced in £, again just about clinging on to the key £880 level at present.
Dogecoin - Anyone on it? on 14:14 - May 13 by midastouch
Yes the price certainly went south yesterday as a result. That video warning I posted just above proved most timely! Where BTC goes the rest tend to follow. Most of them work in correlation.
If BTC doesn't hold the level it's at now then £31k could be in play.
Dogecoin is clinging to that level I posted (only just though!) and BCH dropped just below the key £880 level I keep banging on about yesterday. It's got a bit above there today but that level is likely to see a lot more action going forwards I reckon.
BTC priced in £
Dogecoin priced in $, just about clinging on to the key level I posted about already. Only just though!
BCH priced in £, again just about clinging on to the key £880 level at present.
And Shiba hasn't had a very good few hours either. The charts I just posted a few minutes earlier were daily charts, this one however for Shiba is an hourly chart. So each bar represents an hour of price action.
It's now at the 200 day moving average level which has halted the slide a bit. Although the 200 day EMA is more significant on a longer timeframe, such as on a daily chart rather than on lower timeframe, although it can often be a force to be reckoned with even on lower timeframes.
Here is Shiba again but this time on a daily chart:
As you can see, yesterday it gave back rather a lot of its recent gains.
Dogecoin - Anyone on it? on 14:25 - May 13 by midastouch
And Shiba hasn't had a very good few hours either. The charts I just posted a few minutes earlier were daily charts, this one however for Shiba is an hourly chart. So each bar represents an hour of price action.
It's now at the 200 day moving average level which has halted the slide a bit. Although the 200 day EMA is more significant on a longer timeframe, such as on a daily chart rather than on lower timeframe, although it can often be a force to be reckoned with even on lower timeframes.
Here is Shiba again but this time on a daily chart:
As you can see, yesterday it gave back rather a lot of its recent gains.
[Post edited 13 May 2021 14:27]
As discussed a few pages ago, charting isn't easy (or possibly possible) to apply to crypto because one person can move the market either through force of personality and FOMO/Hype (Musk) or just by owning a huge % of the available market cap.
Neither of these things are possible in traditional market hence charting is possible, in crypto they are totally unknown elements that can blow all chart analysis out of the water.
SB
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Dogecoin - Anyone on it? on 14:29 - May 13 with 3284 views
Bitcoin's having a fun day courtesty of Musk/Tesla.
Strange decision to buy in, then pull out in 49 days citing environmental concerns!?
Depends.
If he purchased loads 50 days ago, went heavy with the hype and helped drive the price up and then sold a few days ago before the announcement then it was far from strange and he's made a pretty sum.
This is the trouble with totally unregulated markets. Some people will say it's freedom but they are generally not the people left with losses due to market manipulation.
SB
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Dogecoin - Anyone on it? on 15:52 - May 13 with 3234 views
Dogecoin - Anyone on it? on 14:28 - May 13 by StokieBlue
As discussed a few pages ago, charting isn't easy (or possibly possible) to apply to crypto because one person can move the market either through force of personality and FOMO/Hype (Musk) or just by owning a huge % of the available market cap.
Neither of these things are possible in traditional market hence charting is possible, in crypto they are totally unknown elements that can blow all chart analysis out of the water.
SB
We shall have to politely agree to disagree on that one. I study the charts from everything from indices, currencies, futures, crypto and bonds. Over and over again you see similar patterns of behaviour throughout all of them and that includes crypto. Admittedly, crypto can certainly be more volatile, for some of the reasons you outline, however, it still respects certain key levels and these can provide excellent trading opportunities. I recognise some of the new altcoins such as Shiba won't be as straight forward to trade via chart analysis (as they are in their infancy and there's not so much to go on) but some of the more established ones such as BTC and ETH do certainly respect the key technical levels I tend to analyse.
Dogecoin - Anyone on it? on 15:52 - May 13 by midastouch
We shall have to politely agree to disagree on that one. I study the charts from everything from indices, currencies, futures, crypto and bonds. Over and over again you see similar patterns of behaviour throughout all of them and that includes crypto. Admittedly, crypto can certainly be more volatile, for some of the reasons you outline, however, it still respects certain key levels and these can provide excellent trading opportunities. I recognise some of the new altcoins such as Shiba won't be as straight forward to trade via chart analysis (as they are in their infancy and there's not so much to go on) but some of the more established ones such as BTC and ETH do certainly respect the key technical levels I tend to analyse.
You're missing my point.
Due to regulatory rules people aren't allowed to manipulate the markets you are used to trading in the same way they do with crypto. BTC and ETH are probably fine for charting because no single person (with one or two exceptions) can move the entire market as the market cap is dispersed but for most altcoins one person can own 20%+ of the total market cap. If they want to use their bot to move the market by driving it up or down at any point they have the volumes to do that and it makes the charting irrelevant because it's a factor which can't be taken into account.
Thus I feel citing chart analysis outside the big two coins is deeply flawed.
Sure, happy to agree to disagree.
SB
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Dogecoin - Anyone on it? on 16:51 - May 13 with 3175 views
Dogecoin - Anyone on it? on 14:29 - May 13 by StokieBlue
Depends.
If he purchased loads 50 days ago, went heavy with the hype and helped drive the price up and then sold a few days ago before the announcement then it was far from strange and he's made a pretty sum.
This is the trouble with totally unregulated markets. Some people will say it's freedom but they are generally not the people left with losses due to market manipulation.
SB
You say "if".....very generous imho!
"They break our legs and tell us to be grateful when they offer us crutches."
Dogecoin - Anyone on it? on 15:56 - May 13 by StokieBlue
You're missing my point.
Due to regulatory rules people aren't allowed to manipulate the markets you are used to trading in the same way they do with crypto. BTC and ETH are probably fine for charting because no single person (with one or two exceptions) can move the entire market as the market cap is dispersed but for most altcoins one person can own 20%+ of the total market cap. If they want to use their bot to move the market by driving it up or down at any point they have the volumes to do that and it makes the charting irrelevant because it's a factor which can't be taken into account.
Thus I feel citing chart analysis outside the big two coins is deeply flawed.
Sure, happy to agree to disagree.
SB
You still get some excellent technical chart setups flashing some great buy or sell signals outside of just BTC and ETH. Take this one ADA (Cardano - which has hit a new high today):
This is a daily chart. As recently as last month it flashed a beautiful buy signal. Price had pulled back to the 100 day EMA (where I have ringed and highlighted). It formed a very bullish pin bar candle not only on the 100 day EMA but also on a strong support level (which has previously acted as resistance). Essentially, technically that was a very good level (due to confluence jumping out at me on the chart) to get interested in buying the pull back. Subsequently, price has since rocketed from there.
It might be getting over extended now and another retrace might be around the corner. However, where I have highlighted that was a textbook set up that I see working out a lot more times than not.
When something is in an uptrend all the main moving averages will be sloping upwards without any crossovers and whenever price pulls back to those if the uptrend is to remain in tact, buyers will step in to buy the pull backs, deeming them as better value buy opportunities, rather than buying the highs, which could be over extended. Some traders will use an RSI indicator (relative strength indicator) to assist timing buy entries for pull backs or to signal sell signals for over extended moves.
That same set up would be just as valid on a currency pair as it would on a crypto coin such as ADA. Why is that deeply flawed? I see set ups like that working time and time again not only just on BTC or ETC, but on lots of other altcoins too. Are you saying each one of them is a deeply flawed fluke?
Dogecoin - Anyone on it? on 17:46 - May 13 by midastouch
You still get some excellent technical chart setups flashing some great buy or sell signals outside of just BTC and ETH. Take this one ADA (Cardano - which has hit a new high today):
This is a daily chart. As recently as last month it flashed a beautiful buy signal. Price had pulled back to the 100 day EMA (where I have ringed and highlighted). It formed a very bullish pin bar candle not only on the 100 day EMA but also on a strong support level (which has previously acted as resistance). Essentially, technically that was a very good level (due to confluence jumping out at me on the chart) to get interested in buying the pull back. Subsequently, price has since rocketed from there.
It might be getting over extended now and another retrace might be around the corner. However, where I have highlighted that was a textbook set up that I see working out a lot more times than not.
When something is in an uptrend all the main moving averages will be sloping upwards without any crossovers and whenever price pulls back to those if the uptrend is to remain in tact, buyers will step in to buy the pull backs, deeming them as better value buy opportunities, rather than buying the highs, which could be over extended. Some traders will use an RSI indicator (relative strength indicator) to assist timing buy entries for pull backs or to signal sell signals for over extended moves.
That same set up would be just as valid on a currency pair as it would on a crypto coin such as ADA. Why is that deeply flawed? I see set ups like that working time and time again not only just on BTC or ETC, but on lots of other altcoins too. Are you saying each one of them is a deeply flawed fluke?
I am aware how to calculate the various indicators and how they work.
My point is that you are applying a methodology which assumes rationality to a system which has proven to be very irrational. That is where the issue lies. I don't doubt that you can get strong looking signals on the charts and make good gains but over the longer term, outside the main pairs, there will be an event which will totally undermine all the signals you see.
It's also worth noting that those signals are only valid if the volumes are high enough and once again, outside the main pairs (let's say the top 10 or 20) that isn't usually the case.
Good luck with your trading.
SB
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Dogecoin - Anyone on it? on 07:24 - May 14 with 3060 views
Now it's good for me as I stuck a little bit in Doge, but it's still bloody stupid. There is logic behind the Crypto markets, but the ability of one man to influence the markets so drastically is a big problem.
If you want to apply some investment logic* to Elon, just get alerts set up for whenever he tweets, buy whatever he tweets about instantly, and then sell 20 minutes later. Probably as profitable as following markets.
*This is a joke, it may well work but no sane person would ever give financial advice tantamount to "follow the meme on twitter"
[Post edited 14 May 2021 7:25]
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Dogecoin - Anyone on it? on 09:35 - May 14 with 3011 views
Now it's good for me as I stuck a little bit in Doge, but it's still bloody stupid. There is logic behind the Crypto markets, but the ability of one man to influence the markets so drastically is a big problem.
If you want to apply some investment logic* to Elon, just get alerts set up for whenever he tweets, buy whatever he tweets about instantly, and then sell 20 minutes later. Probably as profitable as following markets.
*This is a joke, it may well work but no sane person would ever give financial advice tantamount to "follow the meme on twitter"
[Post edited 14 May 2021 7:25]
This is pretty much what I have been saying in this thread.
One person can manipulate the market because it's unregulated and that is going to make the SEC look at it as a matter of importance - Musk is accelerating that process.
SB
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Dogecoin - Anyone on it? on 10:06 - May 15 with 2934 views
Dogecoin - Anyone on it? on 10:06 - May 15 by midastouch
A further Bitcoin update, as posted from Iran.
BTC has finally dropped to test a key level (after many weeks) on the weekly chart, as discussed in this video.
As for its cousin Bitcoin Cash, it's exactly where I thought it would be right now. Almost bang on the significant £880 level.
I'm only posting because I know at least two of you on here are invested in BCH.
------------
Dogecoin has so far held the support level I've been pointing out for a little while now. Probably in part helped by Musk's recent Tweet.
In the video I posted this morning it talked about the exponential moving averages of 21 and 34 (both Fibonacci sequence numbers) and both of those have lined up with some recent price action moves on the Dogecoin chart. The black sloping line is the 21 EMA and the blue sloping line is the 34 EMA. Notice how price has reacted to both of those recently on this daily chart:
Dogecoin - Anyone on it? on 13:12 - May 15 by midastouch
As for its cousin Bitcoin Cash, it's exactly where I thought it would be right now. Almost bang on the significant £880 level.
I'm only posting because I know at least two of you on here are invested in BCH.
------------
Dogecoin has so far held the support level I've been pointing out for a little while now. Probably in part helped by Musk's recent Tweet.
In the video I posted this morning it talked about the exponential moving averages of 21 and 34 (both Fibonacci sequence numbers) and both of those have lined up with some recent price action moves on the Dogecoin chart. The black sloping line is the 21 EMA and the blue sloping line is the 34 EMA. Notice how price has reacted to both of those recently on this daily chart:
[Post edited 15 May 2021 14:19]
What are your thoughts on the future of ETC? Been reading this week about a potential merge down the line with ETH.
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Dogecoin - Anyone on it? on 12:44 - May 16 with 2768 views
Dogecoin - Anyone on it? on 11:56 - May 16 by trent_blue
What are your thoughts on the future of ETC? Been reading this week about a potential merge down the line with ETH.
Wasn't ETC a fork of ETH because they didn't want to go down the same route as ETH? Wouldn't make much sense to merge them back together after the original split given the differences.
SB
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Dogecoin - Anyone on it? on 08:42 - May 17 with 2682 views
Dogecoin - Anyone on it? on 14:14 - May 13 by midastouch
Yes the price certainly went south yesterday as a result. That video warning I posted just above proved most timely! Where BTC goes the rest tend to follow. Most of them work in correlation.
If BTC doesn't hold the level it's at now then £31k could be in play.
Dogecoin is clinging to that level I posted (only just though!) and BCH dropped just below the key £880 level I keep banging on about yesterday. It's got a bit above there today but that level is likely to see a lot more action going forwards I reckon.
BTC priced in £
Dogecoin priced in $, just about clinging on to the key level I posted about already. Only just though!
BCH priced in £, again just about clinging on to the key £880 level at present.
4 days ago I said: "If BTC doesn't hold the level it's at now then £31k could be in play."
The level didn't hold and just a few hours ago (the below is an hourly chart) it dipped as low as £30k. Price has bounced a little bit since to above £31k.
It's certainly been a tough month for BTC since it hit its historic high in April of just above £46k.
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