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REQUEST NETWORK/BTC - Huge Upside gains at low risk!REQ/BTC is a coin I personally hold on spot for the mid to long term upside gains. REQ has found significant support at the 0.5 fib level (208) after its break from the lows to hit a local high at 351. Right now its currently forming a bullish pennant , alongside low volumes, this suggests a strong consolidation and a breakout of the flag sooner or later. Seller pressure is almost insignificant. 1. For now, a low risk high reward trade would be entering on the support line - 0.5 fib confluence with bullish flag bottom: Entry: 208 - 235 Targets: short term 351, 420, 500 ++ and on the longer term - 1100 and 1300 ++ Stop loss: 151 - Below the 0.382 fib level and previous resistance flipped support (180) 2. Another possible entry with breakout confirmation is entering on the breakout of the pennant. This can also be used to add to dips with the trade above ongoing. Likely scenario is a bullish candle close above the wedge, hits the last local dominant resistance at 0.786 fib (290), comes back to retest 0.618 fib level confluence with wedge top around 246 - 265. A rebound from here will take us to go for the local ATH at 572
Long
by Gold_D_Roger
We're a little early to the end gameOBV & RSI peaked at the blow off tops of 2017 and 2013 alike. Not here in 2021... RSI is cooling off, BTC has been chilling, and we got some time to kill. Below is 2019s bull trap. Look at how similar the data is. That's because we're early. 2019 was early. May 2021 is still early. We've got nothing but time until the end game. For now, it's alt season. here is 2017s blow off top // notice how every datapoint peaks at roughly the same spot 2013s blow off top 2013s 'little too early' blow off top
INDEX:BTCUSDShort
by Ungovernable
3
This land is mine - says BTCAs you may have seen in several of the last posts, I have been focused on the connections between cross pairs and instruments. My main trading is mostly FX, but with a lot of interest in the crypto space I have been adding some content on this and running commentary on the BTC drops recently. It's amazing to see professional money enter the market, but what most people don't understand is, that it's not "pro money in = price up" there's a lot more to it. So firstly; go and check out the last couple of crypto posts. The second point is - there's something interesting here. Now think, if we can see it - who is going to be attracted to this point? Then of course we have the 50k "round number" all retail games of the mind. I have been asked several times recently, about the correlation of other coins. Quite frankly, BTC is only now becoming institutionalized. ETH will come but it's not there 100% yet (neither is bitcoin YET ) - But look at what happens with a chart overlay on ETH over BTC. Then on the strength indicator - we can see a slight blip on ETH but not XRP or BTC. You need to keep in mind that there is a lot of hype in the market so a blip here and there is to be expected. The daily Quadratics show we are still in negative territory on a daily and the rise in the ATR would also suggest a gain in momentum. COT data tonight will paint another clearer picture of next week's bias. Then we can look out to the weekly; we are positive in terms of bias (look back at the Elliott post) showing this as a weekly pullback and not an overall down move. Why XRP - what about XRP? Well XRP has now over 300 institutional clients and an actual real use case. Although BTC is a store of value, the fees make it hard for any real adoption. Whilst Ripple allows more complex transactions (think wealth manager tasks) in fractions of seconds. This is a strong case for XRP as long as they clear the next SEC/Congress situation. Until then BTC will stay dominant. We will be covering some of this on Monday in a stream on TradinvView with my good friend @Paul_Varcoe who will be hosting the stream. Hopefully, a time will be released later today. Overall bias "LONG" crypto but short term - clear as day we are in a messy (3) - (4) move down on BTC which currently drives everything else. Have a great weekend all! Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
BITSTAMP:XRPUSD
by Mayfair_Ventures
125
SiaCoin breaking out of major channel and resistance.Looks like Siacoin is ready here to go into a parabolic run for its own. its been grinding the bottom of the channel for quite some time now, and typically this ends up resulting in big parabolic runs upwards, after all the BTC.D keeps dropping and it is already Alt Season, most coins will have a run at some point or another if not all coins. Looks like a potentially good entry early on for Spot, cheap coins can give big gains all in all. PS this is not financial advice, I am only speculating, and having fun with the charts. Trader and invest AT YOUR OWN RISK > DYOR.
SLong
by TitoKnowsBest
21