Before we jump into todays publication, let’s recap on the top picks in the previous installment of Altcoins Edge. XVG - Price jumped 10% + out of our accumulation zone shortly after publications were released. Price action is now resting just above accumulation zone, targets are still the same. DRGN - Price also jumped 10% + presenting a similar scenario to XVG. I would wait to see if we drop back into accumulation zones to scale in.
Before we jump into today’s publication, let’s recap on the top picks in the previous installment of Altcoins Edge. NPXS - Price action is still in our buy zone, volume has dropped over the last few hours of writing this. Stop losses are still the same. Nothing to worry about yet. ZIL - Price action is consolidating nicely within our accumulation zone. 4H MACD just crossed, momentum should start to build up. Targets are still the same.
Before we jump into today’s publication, let’s recap on the top picks in the previous installment of Altcoins Edge. DENT - Price dropped into our accumulation zone as predicted. Support seems to have held and volume is rising. Target levels are still the same. LSK - has just in the last hour of writing this broken upwards out of the accumulation zone with an increase in volume. Price action looks optimistic, targets are still the same.
The two most commonly asked questions I get from new traders are, “when do I buy?” and “when do I sell?” These questions are synonymous to asking what entry (or “entrance”) and exit levels are. Entrance levels are the price that you enter (buy into) a cryptocurrency (or other commodity). Exit levels are the price that you exit (sell out of) an investment. The only exception to these definitions is during a short. If you “enter” a short it means you are selling, and when you “exit” a short it means you are buying. In essence, entering and exiting mean the same as buying and selling. “When do I buy?” and “when do I sell?” are the two most important questions in trading because it determines the percentage gain that you can potentially earn: the lower the entry and higher the exit, the higher the percentage gain!
This week has been a slight relief for altcoins after the previous week’s mostly red market. Bitcoin dominance has finally started to decline again which is opening up altcoins to some volatility as money flows back into the altcoin market. In other news, Ethereum has turned around and has been making strong gains for the past few days taking the pressure off of the ICO’s and boosting sentiment around ERC20 tokens. All eyes will be on Bitcoin this week as it has the potential to possibly have found a bottom to this many months long decline. Be sure to keep an eye on Bitcoin this week as it has the power to decide the direction of the overall market.
All eyes have been on Bitcoin this week as it has finally turned around and is posting gains. Bitcoin has been only going down since January and everyone is getting exhausted with the losses which is why the hype around this previous bounce has been so high. Moving away from Bitcoin we can see that Ethereum has finally turned around and is making very strong gains. This is not only good for Ethereum holders but also for ICO’s holding vast sums of Ethereum. Over all the week was positive and we will be diving into the big three to see what this week may have in store for us this week.
Before we jump into today’s publication, let’s recap on the top picks in the previous installment of Altcoins Edge. ADA Price action dropped into my buy zone as anticipated, we’re still in my accumulation zone so you guys haven’t missed the boat yet. CM RSI EMA is attempting a reversal as predicted. EOS is still yet to complete my bear flag and drop into my accumulation zone, I am still holding a small chunk of my intended position in anticipation of a drop where I will fully scale into the market.