ecoinamist
Long

CounterParty (XCP) | 1100% Potential

BITTREX:XCPBTC   None
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!

-------------------------------------------------------------------------------------------------------------------------------------------------------------------
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

-------------------------------------------------------------------------------------------------------------------------------------------------------------------
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

Comments

Still holding from entry 370 and 470
+1 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
ecoinamist CryptoFan973
@CryptoFan973,
The fork could be a very nice catalyst. However, the dev is being strange about airdropping the new coin (Thank you @cryptoniac90 for the info).

I'm worried the pump is due to people believing there will be an airdrop, and that the dev or XCP will come out with an official statement saying that there will be no airdrop, causing our pump to dump.
Reply
What makes you bullish on 0.04? We reached that high back in 2015, not in 2016, not in 2017, why in 2018??
+1 Reply
ecoinamist cryptoniac90
@cryptoniac90,
You have a good point, there is no guarantee we'll reach these levels again.

That being said, the biggest mover of price is volume.
Bittrex, Binance, and even Cryptopia have had to close off registration because their servers couldn't handle the large influx of new members (and still can't).
Once this is fixed, volume will flood in, and I believe many alts will soar to or past their respective ATH (over time, not immediately).

Crypto is reaching an entirely new level. It would make sense for alts to follow suit and discover new price levels.

I believe the best way to take advantage of this unprecedented growth will be to hold good positions in coins that are fundamentally solid AND show a lot of potential through TA.
+1 Reply
It lost more than 1000BTC volume within a day... any update on this?
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out