Hello, there are many new comers joining the world of crypto currency. This is not financial advise. I'm discussing my trading strategies and what works for me. Maybe this will help some people out. Do not make your decisions based on my TA because I could be wrong. Being as though we are in a bear market right now I do not think it is the appropriate time for me to invest in BTC or any altcoins at the moment though I do have coins that I've been hodling for months because I invested in them early. I do not believe BTC has reached its bottom as in a previous post I explained why (https://steemit.com/bitcoin/@ghostface/bitcoin-2018-prediction). There are many other coins that are following bitcoins bear trend. Many believe that Bitcoin is over for good. I do not believe so being as though this isn't the first time BTC has falling over 50%
Some coins are in the what I call the prepping stage before the rise. Meaning it has bottomed out or close to bottoming out. Now that being said doesn't mean that the coin will rise. If the coin has no news or isn't undervalued it will not rise from what I've experience. If the coin is not undervalued and has no news but starts to rise then most likely its being pumped and will dump some where down the line. I've heard of cases where a coin may rise because the market cap is growing rapidly but have not seen this for myself.
Here is an example of what I call the prep before the rise
Weekly chart view
Above on the daily chart the 13 day ema which is the red moving average line has been traveling under my 34 day ema which is the blue moving average line for a few days now. Usually this would be an indication for me to buy. If you are wondering I haven't invested into NXT and I'm just using this coin as an example. Being as though the market is in a bear state I think NXT will dip more. My reason for this is because if you look at the weekly MACD indicator the 12-period EMA minus 26-period EMA has dipped under the 9-period EMA and the signal lines are now below the zero line. Since the signal lines are starting to show below the zero line on the MACD I believe the 13 day EMA will now dip below the 34 day EMA which means I'm expecting a bigger dip. There for if I was interested in investing in NXT I would wait it out longer. Keep in mind that TA doesn't always work in crypto but it is good to know. News could happen involving NXT and the price could rise fast because of sudden investments causing me to miss my entry waiting on that dip that would not happen if this was the case.
The charts above show reddcoin being bearish on the daily and weekly. I predict reddcoin will dip below 50 sats. My reason for this is similar to how I explained NXT above. If you take a look at the MACD on the daily you'll notice the 12-period EMA minus 26-period EMA has dipped under the 9-period EMA and the signal lines are now below the zero line. The 13 day EMA has dipped under the 34 day EMA. If you take a look at the reddcoin chart in the middle you'll notice the same pattern forming that happen in May 2017 to December 2017. This doesn't mean that reddcoin will go under 20 sats again even though this is possible. Reddcoin may see a new higher low. From observing the weekly chart I predict that dip is far from over and you can see a repeat pattern forming matching the previous dip.
Above are two charts showing data from XVG on the weekly and daily. You can clearly see the dip on the daily Verge chart just how I explained on NXT and Reddcoin. The weekly looks as if it will dip more .
As we know or should know by now 99% of the market is bearish because bitcoin is declining volatile. This is not a good sign for altcoins because this decreases them in price. Also once BTC starts another bull run this will also drive altcoin prices down even lower. At the moment because of the news forming around tether I have most of my earnings in nubits which is a currency that is always around 1 dollar. I do have altcoins that I bought in cheap and I've stored them on offline devices. Remember to invest at your own risk and always do research before you invest into anything. Do not invest what will hurt you emotionally and financially if you end up at a lost. Please give me a follow and best of luck out there. Thank you for reading my post
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