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  #76  
Old 05-21-2019, 06:29 PM
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EOS

I'm making a big move into EOS for a short term trade.

EOS, if your not familiar, is similar to Ethereum in that its a protocol for smart contracts and hosting decentralized applications. the network reaches consensus for transactions through the use of 21 nominated "block producers" Transaction fees on the network are either zero or near zero, can't remember off the top of my head. It's highly centralized however. It also had the highest ICO funding stage, pulling in over $4 BILLION in 2017/2018. I personally am not a fan of the project due to its centralization, but its tough to doubt a project that has $4 billion at their disposal and seemingly haven't used hardly any of it for promotion/advertising/growth etc. Yet. I also am not going to let my opinion of a company influence me for a short term trade. a good trade is a good trade regardless of the company.

Here's the rationale. Their CEO, Dan Larimer, announced like 6 or 8 weeks ago that EOS would make it's biggest announcement since launch in June. It appears that date is set for June 1st in Washington DC. Crypto projects almost always pump on anticipated news/forks/upgrades/mainnet's etc. EOS is a top 6 coin, and hasn't had any movement greater than the average market moves since the pre-announcement. We are now 10 days away, and i expect people to start loading up on it soon. The smart play is to buy up until then and sell most or all before the announcement. If, however the announcement is very substantial as hinted at, it could run much higher. Current price is $6.30 or 0.0007900 in bitcoin value. of course with all crypto it is somewhat dependent on what bitcoin does in the next 10 days. But i believe it does outperform bitcoin over this period, so shifting some bitcoin into is makes a lot of sense to me. I'm also buying it with fiat on coinbase pro. I don't have set targets placed, but I'm thinking $10 minimum and possibly much higher. All time high of $23 and change. I'm not thinking that high but with very bullish news and with bitcoin continuing higher it's possible it makes a run to $20 or so.
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  #77  
Old 05-21-2019, 09:45 PM
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Here's a good article I just found about EOS and Block.one its parent company.

Bloomberg - Are you a robot?
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  #78  
Old 05-22-2019, 10:50 PM
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BTC 7650

After holding around the 8k level for a few days bitcoin fell rapidly to 7500 earlier tonight. But not to fear, at least not yet. After checking the charts I've found a very interesting nearly identical fractal pattern from earlier this month. The patter bitcoin has made over the past 9 days is a mirror image of May 3-6. BTC makes a new yearly high, rejected, gives another try, rejected, then big drop followed by complete reversal, another attempt at breaking high, then trend down almost to recent low before making a move from 5900 to 8400 over next 2 weeks.

It appears to me we have just made the same pattern, right to the point of final leg up. Although I think we could still go lower to 7200-7400 before bouncing. I'm still long from 7400 a few days ago but am looking to make a somewhat high leverage trade with bids at 7425 and 7225. Stop losses at 7090 and 6990. The 21 day EMA is coming in about 7150. This moving average has been my main indicator throughout this bull run. Under it I'm bearish, above bullish. 7k is my final line in the sand, stay above I think we move to at least 9400, below it we go to 6400 minimum, hopefully lower so can buy more on the cheap.

Of course just because a pattern played out one way last time definitely doesn't mean it will this time, but given the price levels I think this is an amazing trade if I can get filled in the low 7k's, but still not bad from here except I would still have my stop-loss at same level so would be risking more. Very obvious support zones at 21 ema (7150) and 7k. So risking 300ish for 2100ish. 6.4 R/R. Not bad.

Charts for reference:
May 3-6 https://www.tradingview.com/x/YdCW09S5/
Current: https://www.tradingview.com/x/DXI3S00B/
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  #79  
Old 05-24-2019, 07:18 PM
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BTC 8000

BTC didn't have the drop to my optimal buy range I was hoping for, but it doesn't change my outlook one bit. I ended up taking a leverage trade (only 3x) from 7950 an hour ago. Bitcoin looks very strong right now. I'm looking for a move to around yearly highs tonight. Friday's have been action packed an awful lot lately. I always anticipate moves up if bitcoin is bullish on Fridays since people are getting paid then. Might be questionable rationale but it certainly has seemed to play out that way a lot ever since I've been in crypto. If we break 8250 I'll consider adding to my leverage long as well. As long as we stay above 7900 I stay short term mega-bullish, while still being prepared for the possibility of a massive dump.

I'm also out of nearly all alt-coin positions right now other than EOS and some BNB that I always hold some of. If bitcoin makes a big move up soon like I anticipate alt coins will certainly lose a bit of value against it, and that's not the game I'm playing.
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Old 05-24-2019, 07:30 PM
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Another more advanced this to keep in mind is that there's another gap that will in all liklihood get filled in the bitcoin CME futures chart. Gap's happen in traditional markets all the time since markets close and assets can open way higher or lower than previous close. In around 90% of times that gaps occur on a chart, price will come back down or up at some point to fill that price gap. However, it could take a while for this to happen, and it's possible it never does. There was a massive gap in CME futures recently that was filled by the flash crash a week ago. Now there's another gap that would need price to drop to about 7180 in order to fill. Fortunately the CME futures are closed on weekends so there's a good chance it doesn't fill in the next 2 days. And I'm staying optimistic that it won't fill anytime soon, at least not until bitcoin rolls over for real and moves down much lower. So it's not really something to base trades on, but rather something to keep in mind for the future.

Chart showing the recent gaps: https://www.tradingview.com/x/9fqKS0tE/
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