After the sudden rise of bitcoin price in 2013, a lot of cryptocurrencies have been announced. During the first months of their trading in exchanges they often offer profits that can multiply the original capital many times, without any leverage. A recent example is DarkCoin as you can see on the picture. The most promising alt coins are those with a strong community, an active development team and innovative features. New coins are usually announced here and then are traded in various exchanges: Poloniex, Bittrex, YoBit and others. I started this thread to discuss the trading philosophy and any opportunities in this new field.
- | Joined Mar 2009 | Status: Member | 25 Posts
Monero is a promising candidate for a huge rise. It has an active development team and is one of the first cryptocoins offering privacy with the CryptoNote protocol. Current price at 0.00282303 BTC.
- | Joined Mar 2009 | Status: Member | 25 Posts
Factom is a promising coin as it introduces an unalterable record-keeping system by creating a data layer on top of the Bitcoin blockchain. Organizations can document their information on Factom assuring they can't be modified, deleted or backdated. Its current price is 0.00265 BTC.
Alts are looking like most IPO´s in 2001. {image}
Alts have had a pretty decent week so far though while BTC has faltered. This isn't uncommon though, people trade their BTC into alts to try catch a lift then they cash out back into BTC. I expect the same thing will happen again once BTC dips lower.
- Joined Sep 2019 | Status: Member | 230 Posts
The wide green up-bar (the third from right edge) was a test or fresh minor zone of Weakness after the second SLKB.
Studying the volume/price action on fast TF chart (right side) confirms the Supply on slow TF has activated. This Supply comes from old High (line A). So, the down-move toward center-line B (dotted line) should be a reliable expectation.
Studying the volume/price action on fast TF chart (right side) confirms the Supply on slow TF has activated. This Supply comes from old High (line A). So, the down-move toward center-line B (dotted line) should be a reliable expectation.
Oleg Alexandrov, market analyst. Find me in Google
- Joined Sep 2019 | Status: Member | 230 Posts
3 weeks ago I wrote about ZRX
the chart make-belief, ZRX can produce more surprise in the future.
Since that time this crypto did advance from 0.21 up to 0.34. And it continues to climb higher.
Actually, I became skeptic about the continuation of rally when price penetrated the previous high 0.2666 (1). It did look very close to fake-breakout. The penetration (2) of previous high (1) with ND+SB sequences (Supply Bar after No-Demand bar) had also bearish impression. But look what did happen next.
Very low volume range (3) below 0.2666. If this low activity was caused by lack of sellers (NS) - then we will get a confirmation from upbar with rising volume - DBar.
Here is it !(4). It confirmed the low-volume range #3 as the Zone where lack of sellers were found. Market changed its character (Cha Cha) into bullish mode again.
The next signs confirms strong character:
5 - No supply
6 - Demand bar
7 - No supply
8 - DB, but volume is extremely high (sign of hidden weakness).
Breaking out above 0.3 round number attracted rush of FOMO buyers. It is great moment to close big longs and start distribution. However, it is too early to suggest Major Reversal down.
While price is holding above 0.3 green line - market is sending bullish indications.
the chart make-belief, ZRX can produce more surprise in the future.
Since that time this crypto did advance from 0.21 up to 0.34. And it continues to climb higher.
Actually, I became skeptic about the continuation of rally when price penetrated the previous high 0.2666 (1). It did look very close to fake-breakout. The penetration (2) of previous high (1) with ND+SB sequences (Supply Bar after No-Demand bar) had also bearish impression. But look what did happen next.
Very low volume range (3) below 0.2666. If this low activity was caused by lack of sellers (NS) - then we will get a confirmation from upbar with rising volume - DBar.
Here is it !(4). It confirmed the low-volume range #3 as the Zone where lack of sellers were found. Market changed its character (Cha Cha) into bullish mode again.
The next signs confirms strong character:
5 - No supply
6 - Demand bar
7 - No supply
8 - DB, but volume is extremely high (sign of hidden weakness).
Breaking out above 0.3 round number attracted rush of FOMO buyers. It is great moment to close big longs and start distribution. However, it is too early to suggest Major Reversal down.
While price is holding above 0.3 green line - market is sending bullish indications.
Oleg Alexandrov, market analyst. Find me in Google