CryptoKnights
Long

Buy as close to the blue line as possible.

POLONIEX:POTBTC   None
Seasonal PotCoin buy about to come into play. If we breakout before touching blue, then i'll be keeping my eyes peeled for confirmation. I'm expecting a nice retrace before 4/20. If you look into chart history, this breakout is a yearly occurence.

Overall, we have a falling wedge that would be a nice indicator of a reversal in confluence with the seasonal buy and the ending of a massive H&S .

I think that the retrace will cover any drop from here on out. I'll averaging down from here daily until a breakout presents itself.
Mar 28
Comment: Took the wicks off of this just to reduce noise. Looks like our first breakout has occurred (a weak one). Price seems to be flattening out nicely.

Compared to previous years, we are more affected this year by the BTC market drop.

I expect that the longer our seasonal price rise is held off, the sharper the price rise. Crypto has acquired a previously unfathomable amount of new users that always seem to be on the edge of fomo. While we've already seen this reflected in current price, that doesn't reflect the added amount of people that will be panic buying once they connect the dots.
Apr 04
Comment: Last orders getting filled. My only sell case is a breakout under 1k. I expect that 1k will be defended very heavily as a psychological barrier and a heavy support zone. Slight H&S modifications could put the blue line at 1000 which seems like a more logical turning point, but TA will never be 100% accurate. This being a medium-term trade, we are better off peppering buys throughout the predicted reversal zone.
Apr 09
Comment: There's our confirmation and we've already passed our highest buys. Sit tight from here and allow everyone else to do the work for you.

We should see a steep price incline leading up until 4/20 where we are likely to perform the traditional ceremony of dumping on our fomo'ing stoner friends.

Good luck, everyone!

Not many updates left for this trade except for a trade recap and some notes to add to the seasonal file.
Apr 19
Comment: Weak rise. Looks like on a full history scale this is coming out to the backside of a H&S. Might indicate some incredible retrace a year or two down the road. I'll be holding out until probably tomorrow around lunch!
Apr 21
Comment: Forgot to close this :D If you are still in, then I recommend market selling and looking back in a few months for the bottom of the downtrend.
Apr 21
Trade closed: target reached
Given your thoughts on a potential sharper price rise and increased fomo from new money, what targets are you aiming for. The fibonacci lines seem like a good indication, but I've also seen this coin pump 100's of percent in serval hours - given your thoughts that could (I stress could) very well be the case again
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CryptoKnights DELETE123456789
@DELETE123456789, I'm not placing a definite target, but expect the market to make an attempt at 3000. I'll release a chart comparing previous years to this year, but, we generally see a major pullback midway through. This leads into peak price afterwards followed by a dump on 4/20 into cannabis fanatics buy orders.
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Insightful feedback - especially on mass psychology and how you seeing a potential jump playing out
+2 Reply
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