LET ME FIRST NOTE THAT THIS IS A POTENTIALLY HIGH IMPACT, VERY SHORT TERM TRADE INTENDED, WHICH IN TURN MEANS IT IS ALSO A RISKY TRADE.
DON'T LOSE YOUR SHORTS ON THIS ONE! KEEP A VERY CLOSE EYE ON IT AND PROTECT ANY PROFITS!!!!
UPDATES AT THE BOTTOM OF POST.
Like many of you, I was caught by surprise when some of my alt coins fell off a cliff!
I took a big hit yesterday, and worked some quick market moves all night to regain my losses.
I regained 80% of losses last night, and have regained the rest since this morning!
Now it's time for profits! I noticed a very interesting thing that is going to happen today in approximately 3 hours from this moment.
SpreadCoin ( SPR ) fell off a cliff yesterday, BAD. It fell to it's Pre-June Prices.
So what's the big deal? Well....I trade on Bittrex mostly, and on Bittrex SPR is the 7th highest in volume and shows the highest loss percentage at over 52%. That means it's sitting right there on the front page, where so many people see it and look for the hot coins to jump on board. However, with 52% loss, the majority of people don't see that as a buying opportunity, but rather a sign to stay away. What if it said 100% GAIN? It's about to.
At exactly 3:15pm CST, SPR should be 7th in trade volume and swap 52% loss for 100% gain on the Bittrex front page.
That time is highlighted by my mouse in the picture above. Bittrex keeps a constantly refreshing 24hr cycle for their front page numbers. What that means is that at exactly 3:15pm CST today, SPR will have a 24hr low of $0.52 or BTC 0.00010736 and a 24hr high of $1.29 or BTC 0.00026441 . Technically, it should swap the 52% Loss showing on the front page to OVER 100% GAIN on the front page with very high volume.
Of course, that's just a technique I'm putting into play, but it's partially how I regained all my losses, watching those types of trends during a big fallout....AND ELLIOT WAVES!!!!
Just so happens that SPR should be beginning it's 5th and most extended wave at precisely that time, give or take up to an hour for safe investing. My estimation is that the price will soar temporarily while many coins have not had that luck so far after their deep dives.
I got out just now, at Wave 3 Top, and am laddering back into the Wave 4 correction RIGHT NOW!!!!!
If it returns to form, it could be a HUGE opportunity for those who lost big yesterday to correct that loss into PROFITS!!!!
I'll be right there beside you, all in for the push up! Protect your profits on the rise! Happy Trading!
@haejin was kind enough to assist in this buy in for me! Here is what he sees: A final correction finishing with lower lows to come as pictured.... Thanks @haejin ! Hope everyone gets their feet wet and makes some money back!! Honestly, I trust his counts far more than my own! The price is falling now, time to ladder in!!!
UPDATE: Proof of Skin in the Game! Remember, I lay so many ladders to look for that quick bounce back to gather profits from.
UPDATE 2: Prices are holding for now, we wait. I will be buying back in if the ladders don't fill and prices hold up until the 3:15 CST. I do believe the sentiment will be strong at that time if all shows on Bittrex as I said above.
Update 3: Spreadcoin is now 3rd in Volume on Bittrex. That's good news. Watch for cliffs, but all is looking good to this point.
Update 4: Keep your ladder for a long position, for this trade I am exiting my ladder to buy in more heavily. Prices are moving in the right direction, still 35 minutes and counting down. I will update as soon as I see any change, but please watch the market yourself!
Update 5: Order Book is currently favoring the buyers....17 minutes to go!
UPDATE 6: HEADS UP! Time is moving quickly and momentum is turning down. Sell if you're satisfied! Stick it out with me if you want to see what the flip on Bittrex does for the price!
Update7: Here comes the moment! Will the theory be a success? To all those involved, if this trade helps you, consider throwing a bone my way. GOOD LUCK ALL!!!
Update 8: Keep holding.....slowly changing the 24hr listings
-Update 9: I'll be the first to admit, my top bottom price was incorrect for their listing!!! They are showing the current price change in reference to the 24hr high, they are not displaying the 24hr change AS IT SAYSSSS!!!! Get your profits from the ladder and get to safety. Thanks to everyone who participated! I pulled a quick couple hundred out of that small rise, but it's too bad it did not sky rocket.....I am still in with some value, just fyi.
-Update 10: Yep, another one. strong books for buyers, I will be in with $1000 for the short bounce again! I hope this little trial helped you regain some losses, if you're freaking out right now, just be patient, prices will fluctuate, just insure a stop loss at your max loss you can allow. HAPPY TRADING!
Last update I promise: That percentage change seems to have no relation to any of the numbers posted on the front page! Haha.....now it says 10% gain and the numbers haven't changed. Maybe it's extremely delayed to post the correct change.....I will try to figure that out and keep tracking this for future possibilities in quick day trades! Thanks for the support!
Update: I lied, here's another update, it seems their system very slowly registers the change in %, so we are 30 minutes late, but the percent gain is rising now! ***I see the error, the 100% change should post at around 11:20pm CST tonight, when the bottom price was hit, not when the price plummeted the first cliff. That is, if it doesn't reach another low before then.
This one is at perfect stage to start putting in buy ladder. It's at the terminal endo f an a,b,c, correction and thus the ideal time to buy.
That's a pretty solid strategy, might give it a go. What other coins does it do that with? All of them? I usually trade wallet to wallet BTW.
The Bittrex system always keeps the 24hr cycle up to date with all coins. I've never seen one flip from the biggest loss to the biggest gain though. Let's see how the sentiment of the crowd is when that flip happens! I would not do an off market trade here myself. Too much risk in getting confirmations. That fall off happened in 1 minute, you need to be ready to trade off in the moment for a quick trade. For a long position this is still a great buy....as long as bitcoin is still on the rise (and it won't be for much longer!)
Bottom feeding off the top losers on the Bittrex front page is a hell of a sound strategy if you have the time to dig in and pick the right coins. I hope this works out for you, I love the thought process behind this, good luck!
I spent all night digging unfortunately! Haha....bottom feeding, I like it! We are the small fish out here aren't we? Follow just along side the feeding frenzy, get fed, and get home!
would love to talk over some stratagies with you on steemspeak.com...come join me so i can converse and share ideas :)
Yeah I would like that, I followed you, would much appreciate the same. I have never used steemspeak so I will try it out tomorrow if I have the time. Thanks for your Interest!
but as i watched it from few days every time bitcoin raising spr going down even lower..
Please see Haejins chart posted above....it shows a newer low is to be reached before coming back up. It may not come back up until after the btc fall. This trade was specifically for a quick turn around. That chart was added to assist those who wanted to see a longer term situation. It's very difficult to address every possible scenario someone else could be in, that is why I posted that this is a risky trade, and based on a theory. For the long, I would be buying more SPR as it falls. If you're looking for a fundamental reason, it could be that many people who actually use SPR, not just trade it, use it specifically to replace btc due to it's more decentralized nature. It is possible the users are moving to btc for the profits at this time. Other than that....by the numbers, as the chart shows, we are going through a normal correction, just a sharp one, and it will be done correcting and resume upward sometime soon. That rise absolutely could be delayed by a btc fall, but it will have it's day again none the less.
And the price continues to crater....but I'm still all in!
Interesting I will be watching your progress on this. Thanks for the post
Good luck on that move... I hope you do well.
I am going to opt for other less risky buys at the moment. I remember the last hard fork all to well. I am choosing to pair against ETH in my sells over the next week instead of BTC. Then looking to move into BTC around $2200 - $2300 hopefully.
As soon as this trade is completed, I will be moving to cash until the fork. My best estimation shows a sharp correction in the next few days at around 5200, give or take a little. Then like you said, 2200. I'm hoping the correction hits right before the fork, thus more coins for all involved for the future cycles back up.
Im in. Whats a sell target?
I think a push to nearly $2.00 is not out of the question, but I caution you to protect the profits and watch the books, someone could come in with a huge sell off again when it reaches their profit taking number....just watch closely and keep your profits to yourself....don't let everyone take them and leave you stranded. I will be satisfied with $1.50, but more importantly, I will be watching the change in momentum, deviation, and the macd VERY CLOSELY at that time, for any quick turns. If one shows it's head, I'll take my profits wherever they are at that time, too risky to try and hit the top on this one with it's volatility.
Thanks! Stop loss in place and hopefully we see big pu$h
A friend and I had a stop loss set on bittrex at 22000 like ive done many times before. And for some f&*ked up reason both of ours did not get filled! Wtf bittrex, this pisses me off big time. Yes it was set to less than or equal to. Have you ever heard of this or expierenced it? Freaking pissed
I have had errors before when I leave a market page up for a long time, but never that specific one. Is the order still posted as an order? If you set it correctly, it should be on your orders page, that's worth complaining about, but I doubt they will do anything to correct it. But both of yall? That's bizarre, maybe you wont be the only two to complain then.
I will let you know that kind of thing enrages me! Something you can't change now, but certainly was an error on the server side.
You don't have any of the experimental features enabled do you? That messed me up pretty bad one day. I'm sorry to hear that, that was the perfect stopping point for that run up, safe and profitable.
Thanks for the response. No i canceled order and got out a lil over
21000 luckily. I did take a photo and will be complaining for sure.
It's the worst when you did everything right, and something on their end doesn't work out correctly.....There was a time when I was live betting on Bovada, and let's be honest, live betting is a brilliant way for vegas to recoup funds when they make a bad call. People put in their winnings to double down or whatever it may be and then lose their winnings back. Live betting is a little like live trading. Anyway, the lines move and are of course live, changing lines.....well I was watching a basketball game and thought they had the line poorly placed on one particular live bet. The game kept going my way, so I kept doubling down on that line...then I won!!! BIG! They funded my account, and I'm throwing myself a little pat on the back party....then all the sudden, the money goes away, and when I get them on the phone they say "That line was supposed to be pulled at this time......not when you bet" - I said it's a live, moving line, how could it have been supposed to be pulled 30 minutes before my bet when it's changing in real time? Long story shorter....they F*cked me bad, and didn't care to correct THEIR supposed issue in anyway. So they just stole my money that they had already sent to my account after the game. Literally criminals. I about lost it, you do everything right, and they say....nah, sorry.
Holy fuck. Thats why guns are good. https://m.youtube.com/watch?v=MDjQkGql9r8
Good post
Went all in after reading this post yesterday.....what are your thoughts today?
Well, generally I would never put all my eggs in one basket. Prices are headed down as @haejin 's chart shows. Two choices really....take a the long position, and don't fret over a large dip coming, or pull the funds, even at a loss to stop bleeding and either go in on another coin or sit it out. Personally, I am, as of early AM this morning, out of the market 100%. The volatility of this coin ran it's course for quick flips, now it is much more steady, and volume is decreasing again. To me that says get out....because bitcoin has just about reached it's final run up for this wave, and unfortunately not many alt coins got the big push this time. When bitcoin turns, and it will be sudden, and I believe has already begun, with only one to two more small surges remaining on the daily chart, it will crush the alt coin market. No digital coin is safe. As of this morning, I'm waiting for the fall, then get right back in. I am in all fiat, true USD.
BTC moves on it's schedule as usual.....alts definitely having their day, read below on my response to @sandrotho to see what it's looking like now to me.
Really cool blog by the way!
Thanks for taking a l👀k!
A great amount of interest was shown for this type of high risk, fast trading.....so there will be more to come, but for now, I think the wise man is rinsing off, polishing his board, re-energizing, and taking a short break to watch the waves crash before paddling back into the ocean.
I put the board on the top of the car and left the beach park!!!
I swear I'm not controlling the market.....or it would have rocketed yesterday....but in case you aren't watching, all that I just said is happening fairly rapidly right now.....protect your money!
Thanks again Brother, money now protected.
Great! I made it with just 2 mins to spare! Keeping my eye on it! Hope you are right. Thanks for the post.
I love your updates btw! So funny - Im holding too. Cool theory
Any more updates before 9pm PT?
I just got home, working on a car for my brother, and taking care of family stuff.....barely getting seated....let's see....
Is anyone still watching? haha....I want to see what those numbers do in 2 hours....Glad you held, we'll get another boost soon, but make sure and look at @haejin 's charts above....he's almost always correct, so if you hold past the next run to 22000, then expect lower lows before coming back up.....and keep in mind that btc is on the correction path at any moment....which will undoubtedly push alts down in the end.
Hi @scarlet7 and @haejin, I'm still deep in with Spreadcoin... LOL do you think I should wait it out? I got a little buy happy during this post and I'm down quite a bit of money ... but still optimistic :)
Looking at the charts above and still waiting to bounce back!
If possible, can you give me an update on what you think will happen next. I think it's reached its bottom... Should I put some money in to recoup my loss?
Thank you!!
Hey Sandrotho, hang on a minute, I'm drawing something up for you, don't get out just yet ok.
Ok, so here's what I would like you to see.....
Look at Haejins projection above....We should be hitting the bottom of the retraction. My opinion is that it is already starting to head back, but that will take a few days. His chart is estimating near 20cent prices....but we are already there time wise, and the daily MACD is shaping a turn. It is possible we see lower prices, but it's going to rubber band back soon. In fact, I'm going to put some into it again.
My chart below highlights the best buy and sell times based on a couple of indicators. I would like to say that bitcoin is going to turn down at some point, and that will devastate all coins most likely. With the alt coins all going for a ride now....I would stay in SPR. Patience,and watching bitcoin is absolutely necessary here though. If there is an OBVIOUS bitcoin downfall toward 4000, then 3, then 2000, you want to be out for that. I am putting some money into SPR because I think we will see the upswing before the retraction. If so, it will be very big, and you will be glad you stayed in. If you can't risk it, that's up to you....but as long as bitcoin holds, SPR will get a huge boost soon, and now is the best time to be holding it at a low rate.
(right click to view larger)
BTW, the last green circle just shows how large an opportunity is forming, not suppose to represent a time scale, I expect the turn in the next couple weeks.
As you see there, the separations I highlighted are indicators for times to buy and sell....and they generally have a reaction that doubles back on the change...which would raise SPR very very high above where it was the day I wrote this article. Patience will be rewarding, just watch bitcoins progress as a protection for your SPR.
You could double down....I wouldn't though, I think you will come out on top anyway. It's really tough to suggest someone should double down on anything. If you are watching it very closely, just relax a little bit, and if it starts popping and is looking to show a real trend change, then maybe buy in, or set a buy price for a potential rise....say at 10 or 12 again, and keep an eye on the growth, and remember, it's a cycle..while it's coming up it will be sudden, then drop sudden, then rise again etc....so if you let it do it's thing, up it will go.
I just positioned myself back into SPR if that makes you feel any better.....but I know, it doesn't, but it will if we get the pump in time!
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STOPBy looking at lower low of yday( 0.0001 BTC), i have made a short term analysis of the spreadcoin future price prediction in the post
https://steemit.com/spreadcoin/@shravanravi/spreadcoin-to-raise-300-hurry-up
Please leave you comments..
I commented on your post, I want to be on board, but I see the correction @haejin has been calling for months coming to fruition on the bitcoin charts....which will invalidate any counts that show that SPR has finished it's correction. In theory, it could still bounce back higher, but if you look at the market as a whole...nothing has. NEO was headed back up but got stuck.....same with LTC BCC Dash XRP and pretty much all the major coins that got a big push last time btc went for a ride up.
Hey @scarlet7! Thanks for the great post!
Just sent you a message on Twitter, keep up the great updates they're brilliant! :)
Thanks @sanj! Glad you enjoyed it. Perhaps we can do some more things like this in the future since people seemed interested in it. And yeah risky trades are just that, risky....but the more you learn and watch, the better you can get at them. Just not for the faint of heart!
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STOPI am getting killed on this one. I guess sometimes Greed doesn't pay. This was a very enthusiastic post, I would love an update as to wether strong hands are indeed strong here or just rather foolish. Thanks!
I think it really depends on how deep you're in. I can't tell you what YOU should do. I will say this though. Haejin's charts are very accurate. They are posted above. If you really will be painfully hurt by pulling out now, then I would make a decision to play the long position, and forget out about for a few days. Why? Because the next few days are probably going to be rough until it comes back around. Personally, I would sell, wait for the new low to reach, then get back in, but I watch the markets constantly and I know many people do not. The key to buying into dips is to hold it until the dip turns into profit. It will happen, but the timing rides heavily with what bitcoin does. It could rebound by next week, but if bitcoin turns before then, it will likely have to wait for the first bitcoin bounce back up to regain price.
Anytime you're working with a volatile coin for quick turns, you really must have a stop loss built in to protect your money. Just remember, if you take the long position, there's a damn good chance prices will return to before the fall, which would pay off handsomely.
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