I have been following this market for a quite a while and am learning more and more every day and week. This is my first post on Steemit regarding XBY { XtraBytes} and therefore I want to include some introductions. This code is not known by many people found on Yobit, C-Cex and Cryptopia.
I think this coin is going to be all that as this moves forward into the summer. It sounds like the I's are dotted and the T's are crossed so I have a nice long-term position in such while at the same time I am trading this on the intermediate term time-frame or swing trading key highs and lows and as well day trading this to the best I can each day. Because I spend more time on this chart than I will day trade it for heavier volumes which requires me to have a lot of BTC and XBY so I can get in and out as need be and when I have this an aggressive long-term play that is easy with my XBY inventory.
When I look at long-term levels, XBY historically has moved to key tops of 250 a while back and then after a big crash it rose to 750 which then had another big crash. The next move was up to 1700 and its crash has fallen back below the 700 handle now. A crash is really a correction in this insane wild roller coaster ride. Maybe I shouldn't use the word insane or even crash but wild is an understatement for sure. Therefore its insane to think these markets will do anything that is not wild and not withstanding of extreme moves. With that said I ask myself the question to what price this will be when it is on sites like Bittrex and a code that is known by almost every day trader. I still think this baby is a diamond in the rough because this coin is very much unknown and when the regular traders who trade dozens of codes who have yet to have heard of this code are aware than I ask what will the price be? I ask this myself a lot and I wouldn't be surprised in this hog wild super extreme condition market if it breaks well past 10,000 satoshi. I even think that number is conservative. The reason I think this is why I have a large investment on such currently.
The last couple days it has been a bore in day trading as the askers control this market. (an asker is someone who places a sell order for a higher price and in this case a very low price) The sellers are very much lack luster in that there has not been any price movements lower than 700 much. It seems for the last couple of days that whenever the price falls lower than 685ish that stops people from selling. The reason the askers are in control of this market is because a huge sell wall was placed on YoBit at 710 on Saturday and it pecked away all day while other people who wanted to sell placed orders in between 700-709 and those people sold their tokens. The wall was taken out late on Saturday but no further rally. This tells me the buyers are not in control as they had a great opportunity to buy a large amount very cheap. Today there is another big sell wall occurring at 700 which has been picked away again on Yobit. Same thing with people not selling much below 690. These sell walls and no one selling anywhere has stopped the other two sites from doing much as they all hover near 700 as well.
I am amazed that there has not been sellers for the reasons in which people who want to sell will also see that wall and just sell it down like many of them have done in the past with a 10-20% down push in one mouse click. Nothing even close to that has happened which indicates we could me nearing the final wave of sellers and anything left could be the big washout
Derek.
