ecoinamist
Long

CounterParty (XCP) | 1100% Potential

BITTREX:XCPBTC   Counterparty / Bitcoin
We are currently up about 100% from our original entry at 200k (original chart was deleted by TradingView).

I also realized I made a mistake in my original chart by stating there was only 450% to All time high.
I was working off of Bittrex, but did not realize Poloniex had more history of the coin, where it reached 4500k!
This is about 1100% up from where we are now. What a wonderful mistake to realize that your potential profit can go 2.5x more than you thought!

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Trade details:
We are high up in the FIB channel, and we are hitting up against the 1.618 Trend-based FIB line, so I am expecting lower entry opportunities. However, with the right amount of volume , breaking through the 1.618 FIB would be very bullish . This is why I'm setting up a small position at current price, and bigger positions below.

Original Entry: 200k
New, Riskier entry: Starting small position here at 420k (I'd enter up to 440k)
Safer entries: 401k, 370k, 320k

Targets: 495k, 530k, 680k ... 1114k, 4500k

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As always, please feel free to ask me any questions you have on this idea . Always willing to have discussions with new and experienced people alike!
Comment: Counterparty outlook on Poloniex. One can only hope we'll reach this level again

Trade active: Wow, we're almost 3x from our original entry (190% up)!
Taking some profits (about 15% of position) at 598k

We are at the top of my FIB channel, but we appear to be breaking through.
News of the XCPC fork is spreading like wildfire.

A little risky to take profits on a coin this bullish, but I like to follow through with my plans. Top of channel and RSI overbought is something I use as a sell signal
Will reenter if we break 605k, or if we dip back down to 480k - 510k level
Trade active: We hit 700k earlier! That's a whopping 3.5x from our entry.
I took some profit at our 680k target as per my plan.
Now that we have dipped under 600k and have come crashing back down into the channel, I am using the profit I took to buy this dip.
This is a nice dip, so I would accumulate here (~560k) regardless.

We may dip lower, but I'm expecting a bounce on one of these higher channel lines.
Comment: Sorry I wasn't around to guide you guys during our crash, but that's what the stop-losses and accumulation zones are for.
You can see how it just barely misses my last accumulation zone, but at least it hit my 370k entry!
So, if you followed me, congrats.

Hope you didn't panic sell. Remember, you buy when there's blood, not sell.
Taking profit on targets can be used for these occasions
It lost more than 1000BTC volume within a day... any update on this?
Reply
Still holding from entry 370 and 470
+1 Reply
break 0.007.
next target 0.009
Reply
@tuanrad,
Unfortunately our breaks above 700k were only wicks rather than a convincing candle close. Another break above 700k could be very bullish though.
Next target would indeed be 900k
Reply
Nice!
Thanks.
Reply
Well, we just broke the FIB you said, so, I think we entered the very bullish area? Touched 0.005
+1 Reply
ecoinamist cryptoniac90
@cryptoniac90,
Yup, we may not see my entry points again. We'll have to keep an eye out for a correction and see if the FIB line is tested as support.
Reply
cryptoniac90 ecoinamist
@ecoinamist, yesterday it broke 0.0074, now back at 0.0060, any thoughts??
+1 Reply
ecoinamist cryptoniac90
@cryptoniac90,
We appear to be consolidating right below my FIB line, and right above the parallel channel. Formation appears to be a bullish pennant, so things are looking good for an upward breakout.

A break below 600k would probably be bearish short term. This would mean we're back in the channel and possible to go back to 1.618 FIB.
Reply
Hi guys, yesterday was announced fork of XCP scheduled to February (max. March), check Twitter. I think these numbers are seriously real!
+1 Reply
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