In general it's time for altcoins (blue chips + other decent projects) to make a correction:
Pros:
1) Good R/R
2) Seller's exhaustion. Buyers (short- and midterm) are starting to appear
3) Target - 50% fibo correction + 200 dma
4) RSI has found support and trending higher
But not to forget: market is still bearish in the long-term perspective. Better to babysit your trades and watch the market carefully.
ATOM/USDT:
Entry - current market price
TP1 - 17-18
SL - below 5.5
Just my 2 cents)
Pros:
1) Good R/R
2) Seller's exhaustion. Buyers (short- and midterm) are starting to appear
3) Target - 50% fibo correction + 200 dma
4) RSI has found support and trending higher
But not to forget: market is still bearish in the long-term perspective. Better to babysit your trades and watch the market carefully.
ATOM/USDT:
Entry - current market price
TP1 - 17-18
SL - below 5.5
Just my 2 cents)
Trade active:
After FED news we are witnessing the true action now on the cryptomarkets.
As for ATOM, still lagging...but waiting to see its move in UNI, SNX or ETC-style (already did it).
But I'm trying to stay calm, don't be ingulfed by euphoria and remember that we had a 8-month downtrend in the past.
So, when (or IF) ATOM makes the similar move (price action), I'll close 80-100% of my long position.
Better safe and have a planned profit than sorry. That's my point.
As for ATOM, still lagging...but waiting to see its move in UNI, SNX or ETC-style (already did it).
But I'm trying to stay calm, don't be ingulfed by euphoria and remember that we had a 8-month downtrend in the past.
So, when (or IF) ATOM makes the similar move (price action), I'll close 80-100% of my long position.
Better safe and have a planned profit than sorry. That's my point.
Trade active:
Like ATOM's price action. Still waiting for my target. I thought it will take less time to get there. But it's moving in the right direction.
Trade active:
ATOM seems stronger than overall TOTAL2 (total cryptomarket cap excluding BTC).
1/ ETH and altcoin market are trading below both MA/EMA 50 & 200 which isn't good for a local bullish trend that we were witnessing for the last couple of weeks. Pretty tough time to trade. Better sit on sideways tbh (if we're speaking of the cryptomarket in general).
2/ ATOM is stronger in this terms of MAs 50-200 than the wider market. Thus, I'll keep my position but move SL to break-even point.
1/ ETH and altcoin market are trading below both MA/EMA 50 & 200 which isn't good for a local bullish trend that we were witnessing for the last couple of weeks. Pretty tough time to trade. Better sit on sideways tbh (if we're speaking of the cryptomarket in general).
2/ ATOM is stronger in this terms of MAs 50-200 than the wider market. Thus, I'll keep my position but move SL to break-even point.
Comment:
Trade active:
Forgot to tell that I had fixed 1/3 of my position at around 15.5-16 (ATOM/USDT).
Decided to do it on 9 of Sept when saw a big green candle on high volume.
Anyway, TP1 (17-18) and other higher TPs remain intact
Decided to do it on 9 of Sept when saw a big green candle on high volume.
Anyway, TP1 (17-18) and other higher TPs remain intact
Trade closed manually:
Closed the rest.
Didn't like how the previous week closed. Alts are bleeding.
Also I was stopped out of my BTC long trade.
S&P500 will draw LL most probably. So, better to close my position in profit and wait for better opportunity.
Didn't like how the previous week closed. Alts are bleeding.
Also I was stopped out of my BTC long trade.
S&P500 will draw LL most probably. So, better to close my position in profit and wait for better opportunity.
I've noticed only one another decent project (TONCOIN/USD on FTX) which is trading above them on TF H4. Of, forgot to mention that I'm speaking of all these MAs on timeframe of H4.