HOT/BTC Take 2!! A Safer Entry, Stronger Profits

BINANCE:HOTBTC   Holo / Bitcoin
Well, everyone makes mistakes. The last chart I did for HOT HoloChain, I used the Bitfinex chart. Little did I know, there is a coin on Bitfinex that uses "HOT" as its ticker. Long story short, I used the wrong chart. I was pretty proud of that setup, too. Oh well, life goes on....

And here we have the CORRECT chart for HoloChain.

I am glad I switched charts, because my original entry at 17 satoshis now seems a bit more speculative in nature. I mean sure, HOT could always rise higher. But no, this doesn't look very safe to me anymore, and would require more research into potential upcoming news. I would wait to enter until we reach 13 and 12 satoshis, at which point I could see price reaching back up to 18 satoshis for a sweet 50% gain. We shall see...

However, I am already in this trade, so I will keep my original stop loss, which is a close below 16, and see if we can get a nice little symmetrical triangle, with a profit target of about 19 satoshis. Once there, I will exit 50% of my position and post an update. If the setup looks right, I'll keep the trade active. Otherwise, I am closing it.

Stay tuned for an analysis of TRX Tron, a coin which I think is more bullish at the moment.

Thank you all for pointing out that I had the wrong chart!!

Good luck :)
Sep 19
Comment: Price is still ranging... It's going to take a lot of push/pull to bring about a swift move in either direction. For now, bots are going to continue scalping in-range. Don't get caught up in the distractions. Set your orders, and keep in touch with the rest of the market!!
Oct 03
Comment: Price has been touching on 14 sats. I am glad I posted this remade chart. First target still stands, but we have not seen anything to confirm an uptrend yet. Still waiting for a proper entry. Don't really care if I "miss" it, I would rather only take the trades that are high probability to me.
Oct 04
Comment: Might see some movement here soon
Oct 04
Comment: There she is!! Sorry to all who waited for my target zone, it never reached that point. But I did warn yall about the movement :)
First of all thnx for HOT analysis since it is really difficult to find any ideas along entire web. I am very much interested in this token because I really liked the project and it has the best profit percent for a unit raise. For example today I bought from 16 and sold for 17 which is %5, at least 100 usd for 2000 investment. and that is also the reason I believe Binance, or maybe other elements I dont know about, especially keep this token between 2 unit range (like 16-18 sat) purposefully in order to avoid scalping. However very good news, among the fake ones like mozilla partnership, are ahead of us about this token. I just cant figure out how to get the news fastly to take long position since I need some scalping before taking long positions. Thus I hope, and I humbly request your ideas about this token at least once in 3-4 days if u may.
Thank you anyway for this one which was really suggestive.
Good trades sir:)
@ayanbak, reason it is hard to find is that HOTdoesn’t have enough history to create a decent trading idea. Indicators work on history (and as far as I know most only become usefull in an uptrend) and if it’s history isn’t long enough it becomes incredibly unreliable, so that why not too many people post TA on this coin...Basically it’s just keeping eye on volume and order books for now....
ayanbak Al_WaySlate
@Al_WaySlate, I see. thnx for the explanation.
nicostran ayanbak
@ayanbak, My honest opinion is that this coin has already seen a massive climb. Sure, there might be more left in it, but I know there are better trades to pick up at the moment. Most coins after being pumped on binance experience a period of consolidation. Prioritize caution, and conserve your most valuable resource: Capital (bitcoin)!!
ayanbak nicostran
@nicostran, well, we are at that consolidation. I think I m gonna hodl a small amount of long position here and sail for another shores. thnx
+1 Reply
nicostran ayanbak
@ayanbak, I am doing the same. Good luck
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