Trading Room Logo
  • Blog
    Sign in
    Trading Room Logo
    Trading Room Logo
    • Blog

    Tag: SFP

    Is That Green I See?

    Bitcoin Dominance Dropping – The Alts are Grateful For the first time in quite a few days, we can see some life in the T-25…

    Chingas X October 14, 2021
    0 Comments

    In a16z we Trust?

    Major VC Heads to Washington Do you remember the Top 2 guys that were recently plucked from Facebooks Crypto Team Diem?  They were scooped up…

    Chingas X October 13, 2021
    0 Comments

    Recent Posts

    • Weekly Recap – 01-22-23
      January 23, 2023
    • The Stae of the Alts – 01-19-23
      January 20, 2023
    • Weekly Recap – 01-15-23
      January 16, 2023
    • The State of the Alts – 01-12-23
      January 13, 2023
    • Weekly Recap – 01-08-23
      January 9, 2023
    CATEGORIES
    • AltCoins
    • Analysis
    • Bitcoin
    • Chart Patterns
    • CME Futures
    • Coin Research
    • ETF
    • Ethereum
    • General
    • Market Collapse
    • NFT
    • Price Discovery
    • The Daily Dose

    Groups

    Newest | Active | Popular
    • Group logo of The Daily Dose
      The Daily Dose
      active 5 days ago
    • Group logo of Forex Signals
      Forex Signals
      active 2 months ago
    • Group logo of Day Traders
      Day Traders
      active 10 months ago
    See all
    © 2023 - Trading Room
    Is That Green I See?

    Forum Description

    Bitcoin Dominance Dropping - The Alts are Grateful

    For the first time in quite a few days, we can see some life in the T-25 Coins.  Their reaction to the resistance found on Bitcoin Dominance is a few days delayed but when you are dealing with thousands of projects that all demand some kind of Supply and Demand then we can expect some delays. We have spoken about Dominance before, so we won't go into full detail here but today is the 3rd red day for Dominance in a row.  The initial rejection came from a trendline 3 days ago after a steady rise of 16.26% from a multi-year low. As you will see from the pictures below, Dominance does have two potential areas of Support below the current 44.78% level.  One of which we are testing now while the other sits further down between 41.5 and 42%.

    Is Bitcoin Sideways?

    The SHORT answer is No.  Bitcoin is still very much trending upwards on the Daily Resolution.  This can be seen in the picture below. Also in the picture below you will notice two moving averages; the RED = 50 EMA and the GREEN = 200 EMA.  The first chart is on the Daily Resolution. Generally speaking, if the price is above both the 50 and the 200 on the Daily and they are both sloped upwards, then you are still trending North. In the second picture above we can see the Hourly Resolution for Bitcoin.  Here we can see that the price is clearly trending upwards as a whole but there are short stretches where the price will consolidate and go sideways before breaking a previous local high to extend the trend. Notice how well the 50 and the 200 are providing Support for Bitcoin even on the Hourly timeframe.  Moving Averages are a really good way to find potential Support and Resistance, on all assets and on all timeframes.  You just need to learn what Averages and what timeframes to better understand how to use them for entries and exits.  We cover Moving Averages in good detail in our L3 - Intermediate or Jr. High School.  Be sure to check that out if Moving Averages sounds interesting to you.

    Any ALTS Worth Watching?

    1. DOT
    2. SFP
    3. ARPA
    Polkadot is an open-source sharding multichain protocol that facilitates the cross-chain transfer of any data or asset types, not just tokens, thereby making a wide range of blockchains interoperable with each other. This interoperability seeks to establish a fully decentralized and private web, controlled by its users, and simplify the creation of new applications, institutions and services. SafePal is a cryptocurrency wallet launched in 2018 that helps users to protect and grow their digital assets. SafePal provides hardware and software wallets, all paired and managed through the SafePal App and was the first hardware wallet invested in and backed by Binance. ARPA is a blockchain-based layer 2 solution for privacy-preserving computation, enabled by Multi-Party Computation (“MPC”). Founded in April 2018, the goal of ARPA is to separate data utility from ownership and enable data renting. ARPA’s MPC protocol creates ways for multiple entities to collaboratively analyze data and extract data synergies while keeping each party’s data input private and secure. DOT put in a solid 18% candle yesterday and broke its high from September 14th.  This was a strong move and shows that Buyers may be interested in retesting the ATH from mid-May.   There is a chance we see a downward move back to the previous high in an effort to retest support and allow some more traders to reload their positions. SFP put in a 176% candle yesterday.  The crazy thing is, it may not even be done.  SFP has a long way to go before testing its ATH but it has a huge way to drop if it plans to retest Support.   These types of candles are very hard to predict.  Buying the dips on this one can lead to a mountain of red before the actual continuation - if any.  At the same time, a move like that may only give you very shallow pullbacks while continuing to climb.   Very good for Scalpers and low timeframe intra-day traders but stay away unless you know how to play this. ARPA has broken its ATH and could be well on her way to reaching $0.22 which is considered Price Discovery Resistance. A Move to $0.22 would be about a 50% move up from where it sits at the moment. The Break was clean and we did get a retest of the trend a few days back.  This helps to paint a picture of a very strong trending coin.
    en English
    af Afrikaanssq Shqipam አማርኛar العربيةhy Հայերենaz Azərbaycan dilieu Euskarabe Беларуская моваbn বাংলাbs Bosanskibg Българскиca Catalàceb Cebuanony Chichewazh-CN 简体中文zh-TW 繁體中文co Corsuhr Hrvatskics Čeština‎da Dansknl Nederlandsen Englisheo Esperantoet Eestitl Filipinofi Suomifr Françaisfy Fryskgl Galegoka ქართულიde Deutschel Ελληνικάgu ગુજરાતીht Kreyol ayisyenha Harshen Hausahaw Ōlelo Hawaiʻiiw עִבְרִיתhi हिन्दीhmn Hmonghu Magyaris Íslenskaig Igboid Bahasa Indonesiaga Gaeligeit Italianoja 日本語jw Basa Jawakn ಕನ್ನಡkk Қазақ тіліkm ភាសាខ្មែរko 한국어ku كوردی‎ky Кыргызчаlo ພາສາລາວla Latinlv Latviešu valodalt Lietuvių kalbalb Lëtzebuergeschmk Македонски јазикmg Malagasyms Bahasa Melayuml മലയാളംmt Maltesemi Te Reo Māorimr मराठीmn Монголmy ဗမာစာne नेपालीno Norsk bokmålps پښتوfa فارسیpl Polskipt Portuguêspa ਪੰਜਾਬੀro Românăru Русскийsm Samoangd Gàidhligsr Српски језикst Sesothosn Shonasd سنڌيsi සිංහලsk Slovenčinasl Slovenščinaso Afsoomaalies Españolsu Basa Sundasw Kiswahilisv Svenskatg Тоҷикӣta தமிழ்te తెలుగుth ไทยtr Türkçeuk Українськаur اردوuz O‘zbekchavi Tiếng Việtcy Cymraegxh isiXhosayi יידישyo Yorùbázu Zulu

    Report

    There was a problem reporting this post.

    Harassment or bullying behavior
    Contains mature or sensitive content
    Contains misleading or false information
    Contains abusive or derogatory content
    Contains spam, fake content or potential malware

    Block Member?

    Please confirm you want to block this member.

    You will no longer be able to:

    • See blocked member's posts
    • Mention this member in posts
    • Invite this member to groups
    • Message this member
    • Add this member as a connection

    Please note: This action will also remove this member from your connections and send a report to the site admin. Please allow a few minutes for this process to complete.

    Report

    You have already reported this .
    Clear Clear All