Community Crypto

30 Aug 2024 16:06

Ugh, annoying bounce. Still feeling shorts though,

Community Crypto

30 Aug 2024 15:50

59k psychological level coincides with uptrend from recent lows but looks to be weakly defended, I think us market will sell

Community Crypto

30 Aug 2024 15:42

ETH looks like it would take a reclaim of around 2550 to flip bullish and maybe below 2400 to gi lower. SOL is testing me, but I've placed my stop at 141.36 for now. 137 looks like support with some external liquidity tapped, but am still expecting downside to 120s

Community Crypto

30 Aug 2024 15:32

Until then, maybe chop/range unless there's some push below 58k

Community Crypto

30 Aug 2024 15:30

As we edge closer to the US session I'm cautiously staying short. Stops aren't much higher than we are, if there's a push I'll reassess but, I'm not bullish going in to the weekend. Gonna chill on those positions for now and wait to see how things unfold.

Community Crypto

30 Aug 2024 15:22

There so many coins and so much to consider. It's impossible to do I all alone. I guess that's why we establish these communities. Right now with this sideways action, you see people making money here and there off different coins, and FOMO is real, but it's impossible to monitor every asset. That's why I keep preaching that people educate themselves before entering other people's trading setups. I keep getting people asking me whether they should follow a trader and whether they make money, etc. Seeing other people trade is great for ideas, because you can't possible track all of the coins, but unless you understand why they are making the trade, it doesn't matter how profitable they are. You might follow someone into the wrong trade setup, but it's good to see what others are doing.

Community Crypto

30 Aug 2024 14:54

Are you monitoring many assets or just focusing on a few?

Community Crypto

30 Aug 2024 14:41

no no no, to find assets which are having more concentration of attention, like bigger OI where much likely some moves gonna take place.
... my bad didn't express myself clearly.

Community Crypto

30 Aug 2024 14:39

BTW guys, while surfing some useful sources for research I've discovered some websites like Velo, Laevitas, Orion and couple others(Coinalyze and exocharts we already know). Do you guys use it for finding out where there's a bigger crowd right now?
And if you did already use those do you find them useful?

Community Crypto

30 Aug 2024 14:30

Yeah, that's what come to the mind, let it breakdown, wait for a possible retest of S/R lvl and enter there. However it happens there is not retest - then I guess you just need to wait for one with a retest... Some thoughts aloud...

Community Crypto

30 Aug 2024 14:28

I'm not very confident with those quick scalps on a breakdown because it's not obvious when to take profit, but you could short a retest of the underside if rejects.

Community Crypto

30 Aug 2024 14:26

ONDO looks like it is going to go lower at least to retest those wicks it did twice already at 0.51. Also looks to be quite a level on daily currently.
But not sure about trading breakdown, masters say it is not right.

Community Crypto

30 Aug 2024 14:19

Looks like a lot of sellers here.

Community Crypto

30 Aug 2024 14:16

It does make sense, I just shorted some Rune. That doesn't look good either.

Community Crypto

30 Aug 2024 14:01

SOL & ETH just holding support, but very weak. So overall I feel bearish until we see otherwise.

Community Crypto

30 Aug 2024 15:51

yeah, makes sense and opening at NYSE is weak, DXY keeps pumping, so if no positive news for US market we might see a little sell off.

Community Crypto

30 Aug 2024 15:48

Ok, starting to feel comfortable with shorts right now hahahh

Community Crypto

30 Aug 2024 15:37

Yeah, agree to SOL, however it gave a more clear Short trade setup imo from 162 to 140 than any other ALT, which was not obvious (maybe only to me).

Community Crypto

30 Aug 2024 15:32

Still much the same, though. Acceptance above 60k would make me starts to look for longs.

Community Crypto

30 Aug 2024 15:26

SOL looks stronger to me relative to other assets. But, crypto in general looking weak. My rune short looks good, but close to getting stopped on SOL if it gets any higher.

Community Crypto

30 Aug 2024 15:10

Oh, really interesting point of view, didnt know it is possible to see much on Bybit.
90% I use TW, and even wanted to find out how I can load into their screener my watchlist, but seems it is not possible.

I do have a watchlist of about 40 tokens, but here and in CB's group they come up with some names which I dont know and they appear to be in top200 list so pretty ok for trading (with peanuts i'm trading).

I still do not have any certain trading style/technique/strategy. Just trying to apply what folks around talk about and share (including this chat as well) and what kind of study material EMP and CB sharing with us.

Community Crypto

30 Aug 2024 14:49

I see. My I'm not familiar with those sites. I'll check them out. I'll always look at ByBit data first because it's the exchange I trade with, same with charts but it's obviously limited although i think it's the biggest exchange currently worldwide for Perpetual trading. Otherwise the next place I'd look is coin glass and check the funding rates. I'd like to compile a good check list.

Community Crypto

30 Aug 2024 14:40

What do you mean by crowd? Like what sites are more popular?

Community Crypto

30 Aug 2024 14:31

That's it, but you have to be comfortable missing a train. Aa much as it sucks, another one will come.

Community Crypto

30 Aug 2024 14:29

Breakout trading gets you rekt more often than not unless you are confident about making a quick in and out like @petersiu333 does

Community Crypto

30 Aug 2024 14:26

I've really had to change my thinking lately. In the past I'd look at this price action and think people want to push it higher, but the current conditions show me that while people want to talk about bull market price targets, the current acceptance of lower prices is being sustained. I think a lot of people are waiting for the end of summer in the northern hemishphere. I don't see any real bullish price action for coming for the rest of this month.

Community Crypto

30 Aug 2024 14:20

And seems that they want to shake it a bit in both directions before taking one direction.

Community Crypto

30 Aug 2024 14:17

Right here, if this push doesn't have more upside I expect we get rejected again.

Community Crypto

30 Aug 2024 14:15

To support your bias, I think tightening and growing BTC.D also suggests we might get alts go down into the weekend assuming BTC doesnt have enough push power to go higher.
Does it make sense at all? ))

Community Crypto

30 Aug 2024 13:57

but will TP fully before US opening or at least partially and stop to BE, as you said