Introduction
Hello everyone! This is my first post here :) I am CoinGains and I hope to contribute to this community with some crypto currency updates, opinions on market and information in general. I am a student of computer science and last months I'm been getting into trading and learning technical analysis. My focus will be on building a solid long-term portfolio through solid fundamental analysis and preserving and expanding my stack through technical analysis. I will be sharing the coins I am trading.
General market
Right now market is recovering from the December/January run-up. Most coins have bottomed out and are basically at a heavy discount. Still, there are some coins that will be outperforming others. If I learned anything in past year, it is that altcoins will follow Bitcoin. This means I expect to see first a Bitcoin rise and only after a altcoins wave. If we want to see another crazy spike, a.k.a. "alt season", we need to get fresh money into the market. This is done through Bitcoin. So that's it. I would suggest everyone to keep some bitcoin. This doesn't mean don't buy altcoins, cause you should, they are cheap right now :)
Bitcoin / Dollar
Bitcoin lookig strong. It is pushing upwards from a support level from the 26th February. As of right now it is formigna penant pattern, which usually indicates a breakdown. We could see it retrace back to $10100 (corresponds to the last support line, but also Fibonacci 0.618 level) to gather more power for the breakout. It remains to be seen.
Bitcoin Cash / Bitcoin
Bitcoin Cash is in a down-trend, forming a descending wedge. It will likely be looking for a breakout soon. We could expect a 40% jump if it breaks out. Now the only issue to keep in mind that all eyes are on bitcoin and segwit. Bitcoin solving its transaction speed and fees, is detrimental for bitcoin cash.
Stellar / Bitcoin
Stellar is trying to find a support at the 0.000028 level. Failing to find support at this level, it could go down to 0.000023, potentially even 0.000018. It really isn't giving any signs of life as of right now. The 200-Day MA is around 0.000018 level also. That being said, soon we could see some good levels to buy some Lumens (XML), as it is an excellent project that will have a comeback in coming weeks/months.
ICON (ICX) / Bitcoin
Similar to Stellar, is in a sharp downtrend. It is still not finding that strong support, which might be at the 0.00030 level. Based on Fibonacci, we are well below the 0.618 support line, but I am looking to see it at this lower 0.00030 level. I will be buying at this point also more coins. ICON has a very solid few weeks ahead, as it has a token swap from ERC20 to their own currency on the main-net. There are also mobile wallets coming out.
Steem / Bitcoin
A really short note on Steem. It had a very solid retracement and is now at the Fibonacci 0.786 level. This is a good level to buy more. Not much more on this.
That's it for my first post. I will try my best to post daily and improve my quality of content. This will be an interesting time and I will be learning a lot. (hopefully you too :p)
Follow me on twitter at @coin_gains , I will be posting content also. If you have suggestions, comments, please write below or PM me!
Peace out,
CoinGains!
A great post! Keep it up every day, looking forward to your content!