The market seems to be effervescent all of a sudden. What pops next?
A number alt coins are showing overbought conditions, nothing is oversold at the moment. So what do I do with my profits from something that is knowingly overbought? (Dogecoin I’m thinking of you).
That answer is I move profits into the next most bullish looking position that is yet to become overbought. It is not easy to do, however, if you ignore emotion you can really magnify your overall gains.
On the above daily chart there is a Hidden bullish divergence in price action with the oscillators. A lower low in Stochastic RSI as price action move higher = bullish.
Furthermore RSI support was recently confirmed again for the third time in as many weeks. This support looks set to continue through until the month of May.
On the weekly chart below, still some hours until close, however watch closely - not many alt coins are looking this bullish. Should the weekly candle close such as it looks now with little to no shadow above (wick above candle body) - it suggests to me a strong move to the upside will be next.
1st target $76
2nd target $140
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Price action lands the on the 21-week moving average. I'm holding this one too - it is normal to be fearful during these pull backs and sell - worst thing that you can do at this moment. My plan is to continue Dollar Cost Averaging in (DCA).
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Next target $80 following bull-flag breakout confirmation.
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Some info that might be useful. August 30th 2020, price action hit the highest point in TRB's history, $77. There is no more resistance after price action moves beyond this level.
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Successfully passed resistance following breakout. To the moon.
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Buckle up - monthly candle for April at close prints strong price action support. In short, it is super bullish - will publish something a little later on this token and others as to why these monthly candles are not opportunities to ignore.
Damn, I missed two of your calls for Fun and for Gas. I've barely made any returns buying and selling daily, going to just invest long and hope for a good return.
Lost 95% of my portfolio since 2018 and now just getting back into crypto, seems much harder than I remember lol. It goes up and retraces so quickly now.
Hopefully will hold this long, will the bitcoin retracement you posted cause this to major dip you think?
without_worries
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@jackcarter1010, Sorry to hear about those losses. 95% is brutal.
Day trading is only profitably for the 0.001% and even then you’ve got to dedicate 24/7 of your life staring at a screen. I’d not recommend!
What I do is play the probabilities. Does not matter the project. Buy low sell high.
Look at the tradingview.com idea site for Dogecoin a week ago, 99% of the ideas were bullish despite a very high probability of re-tracement.
In addition to playing probabilities I recommend holding < than 5 assets. You need nothing more. Sure the pockets of cash grow larger faster, which will bring up emotion. However this will also cause you to focus more.
There’ll be some good buying opportunities after this sell off is over, I’ll be sure to publish them.
Is this coin going to do anything soon? Tough to wait with everything else pumping ...its gone from 54$ to 44$ since this idea was posted, starting to regret this purchase. But I bet the instant I sell it will spike
without_worries
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@jackcarter1010, sure, be patient. I've taken a position myself in this one for the record.
Please don't let the emotion take over. Selling is the worst thing to do right now. In fact, just as you say, you'd sell now and price would go up.
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@jackcarter1010, Here's a look at TRB/ETH pair. Everyone is bullish on Ether, and TRB is bullish against Ether - what does that tell us? TRB is about to outperform Ether in the next move up.
Lost 95% of my portfolio since 2018 and now just getting back into crypto, seems much harder than I remember lol. It goes up and retraces so quickly now.
Hopefully will hold this long, will the bitcoin retracement you posted cause this to major dip you think?