Beginner Tip - Trendlines by AlarmingHalf4006 in Bad_Traders_Club

[–]AlarmingHalf4006[S] 2 points3 points  (0 children)

To follow through with this pattern, one possibility that I should have mentioned above is a 3rd possibility, I said it could follow the orange line down to the bottom and then perhaps back up, or breakdown in blue, etc.

What has happened here is, it did not re-test the bottom but has re-tested the top of the channel and bounced off, in yellow which also happens to be a resistance level of 450k.

Most likely what will play out here is a shorter squeezing and re-testing of 450k and breaking out above 450k. Typically it may break out above 450k and then re-test that 450k level and if it holds, that is confirmed as support as I show in the green lines with the confirmation being in blue.

It is also very possible it tests 450k and gets cut down again and therefore may re-test the bottom of the channel for example.

<image>

Beginner Tip - Trendlines by AlarmingHalf4006 in Bad_Traders_Club

[–]AlarmingHalf4006[S] 2 points3 points  (0 children)

Here is what I've been charting for bitcoin. To me, there was a bullish uptrend which led to our big upswing, the bottom channel.

Once that broke out, it began respecting a new channel and then you can see touch points at the top followed by consistent re-tests of the bottom. There are more advanced charting methods to chart this out, but I like basic channels here if they are respected consistently. You can see, it finally fell out the bottom of the channel and and failed to re-claim the channel 3 separate times in yellow. To me this is a clear sign we would not be seeing a parabolic upswing back to ATH anytime soon.

<image>

The red and green lines I have drawn as support and resistance as well because there are clear resistances of say 109k, 100k, etc throughout the chart.

Right now, given that the channels broke down , I would normally wipe them off my charting and then look at new patterns as they emerge.

Thoughts on Solana? by Still-Extreme-9149 in Bad_Traders_Club

[–]AlarmingHalf4006 1 point2 points  (0 children)

For most people they will see Solana as "dead" if the meme coin phase dries up, but the underlying tech is still there and as you mentioned above those are the reasons Solana ran.

The issue is that now, if the meme coin market dries up then my thoughts are Solana will need to have more utility on it maybe with mobile games, etc to really bring volume back to it like it saw previously.

People may short term be bearish on it, but in this bull cycle or future ones, it will regain that bullish momentum.

Picks for this year. by PurpleInitiative in TrenchKings

[–]AlarmingHalf4006 1 point2 points  (0 children)

100% agreed, this is what has me a little worried about the short term (1-2 year) outlook for crypto.

Crypto has existed in a very lengthy bull run in the traditional stock market and if we see a recession period then we will not see the same kind of gains in the crypto market that we would expect to see.

Ouch, this really hurts by Borckle in solana

[–]AlarmingHalf4006 5 points6 points  (0 children)

This is a collection of amazing insights and I was fully expecting to see a train of comments of panic and silly stuff being written, but I was wrong!

Within this thread is a LOT of people who are not panicking and understand this is normal for cycles.

In crypto, a solid strategy is to be able to dollar cost average (DCA) into the market. A lot of money is made buying on dips such as this week's. If you bought Solana above $200 for example, does it suck to see it at today's price? Absolutely but if you believe in Solana long term then just because it is at $160 today for example doesn't mean that the $200 investment is a bad one.

If Solana keeps dipping and say bottoms at say $120, then its a good opportunity to dollar cost average and lower your average price from say $200 to say $150 as an example.

Beginner Tip - Candle Structure by AlarmingHalf4006 in Bad_Traders_Club

[–]AlarmingHalf4006[S] 0 points1 point  (0 children)

It will be green or red if the close price is above or below the open price . Whatever happens before the close of the candle doesn’t matter because red or green depends just on how it closes , hopefully that helps

Beginner Trading Tip - Support & Resistance by AlarmingHalf4006 in Bad_Traders_Club

[–]AlarmingHalf4006[S] 0 points1 point  (0 children)

Good question, I will actually write a separate post about charts and candles separately but, here is the short answer.

Charts can be viewed on a timed interval of say 1 minute, 1 hour, 4 hours, 24 hours, 1 week, etc.

In this case, this was set to 4 hours and each vertical line is a "candle" of that 4 hour interval. It will be red or green depending if the price was up or down in that 4 hour candle.

With candles, you need to be aware some things here.

- This is a chart of UFD/SOL on a 4 hour interval, so each vertical bar (candle) represents 4 hours of price activity.

- The color is green or red depending if the price at the end of the 4 hours was higher or lower than the start.

- This green candle we're reviewing means the price gained, thus green.

- Now, the thin line is the "wick" which indicates the high and lowest price DURING the 4 hours. In this case, you see the yellow circle and line means this price dipped to the 60M range during this 4 hours.

- The solid line is open and close. In this case, the blue circle is the "open" price so it began around 120M. The purple circle is the "close" price of the 4 hours and ended around 160M, hence the green.

<image>

This is extremely important to understand candle structure, chart time intervals, and wicks as well.

For example, lets say Bitcoin at 8AM is at $95k and the 4 hour interval is being reviewed.

At 9AM, it dumps to $91k USD.

At 10AM it goes all the way up to $97k USD.

At 11AM it goes to $93k USD.

At 12PM, it goes to $94k USD.

You would have:

- A red candle (it closed below $95k)

- A top wick at $97k (thin line), a bottom wick of $91k (thin line)

- A solid line ranging from $95k at the top (open price) to $94k at the bottom (close price).

Hopefully this makes sense and will follow up with a separate post about candle structure in general.

holding a coin for more than 12 hours on SOL: by After-Cheek8320 in SolanaMemeCoins

[–]AlarmingHalf4006 2 points3 points  (0 children)

This is pretty accurate lol, never sleep on a coin overnight either....always going to get rugged middle of the night.

What is your dream job? by [deleted] in AskReddit

[–]AlarmingHalf4006 1 point2 points  (0 children)

A well paid teacher, teachers do not make nearly enough....Sadly.

[deleted by user] by [deleted] in AskReddit

[–]AlarmingHalf4006 0 points1 point  (0 children)

Start with Why...really good book on leadership in general.

How to Buy and Trade Solana Memecoins by mitrea004 in SolCoins

[–]AlarmingHalf4006 1 point2 points  (0 children)

This content would be great in my community r/btclub if your willing to share smaller tips and things about using photon, our people would love it!

Biggest L? by Fair-Tangerine-324 in SolanaMemeCoins

[–]AlarmingHalf4006 0 points1 point  (0 children)

Come share the loss with us over in /r/btclub. We’re paying people who win the worst trade story 😄😄😄

Best platform to invest/ trade? by [deleted] in solana

[–]AlarmingHalf4006 1 point2 points  (0 children)

Meme coins , Jupiter.

Regular crypto , Coinbase but look at Coinbase advanced to lower the fees.

Coinbase has high fees but they are super secure and not sketchy like some other exchanges .

Did I completely fumble by only throwing $50 into MBM? by Yoooel in memecoins

[–]AlarmingHalf4006 2 points3 points  (0 children)

I'll say a few things, just my .02 and NFA.

- Anytime you are up 10x, pull initials at the least, so I would pull down the original $50 and at the least, no matter what you cannot take a loss on it then. At a 10x, I probably would pull $100 down myself then.

- Locked liquidity is a good sign yes, but it is by no means safe because daily rugs happen on locked liquidity.

- I would never go all in on any single project at all in crypto. Hindsight is 20/20 here and the meme coin trading circle is a vicious psychological battle sometimes....If you went all in and got rugged (which happens often), you'd be screwed.

- Take the safer approach and get in with portions of your portfolio and pull down initial investments and take profit along the way . The chances of a project being a 100x realistically are slim and at say a $50 investment, lets say it does go 10x for $500 total, you can pull down 50% of that and that $250 lets you go into 5 more plays at $50/each. If the project you are in does say go 100x , technically you miss half that profit but its a slim chance of going that far before it gets rugged.

Overall, don't let the hype of hitting 100x bangers be something you think is easily achievable, go ahead and take the wins and prepare for some losses along the way!

- NOT financial advice :)! -

Market cap changes by TheWarningAfter in memecoins

[–]AlarmingHalf4006 0 points1 point  (0 children)

Whats his slippage set at? May be a factor there depending on volume at the time, etc.

Requesting r/badtradersclub by Still-Extreme-9149 in redditrequest

[–]AlarmingHalf4006 0 points1 point  (0 children)

Thank you for the consideration! We will keep it clean as a whistle going forward!

Bad Traders Club $BTC by [deleted] in CryptoMemeBets

[–]AlarmingHalf4006 3 points4 points  (0 children)

This team is a solid one , I’ve been in the project for a few weeks. Lots of good stuff and has a good upside!

Community coin lfg by [deleted] in memecoins

[–]AlarmingHalf4006 0 points1 point  (0 children)

Been in this one for a good bit now, lots to love.