What is going on snipers Naeem mallow baby here, I hope all of y'all are having an awesome day today
Let's dive into our daily cryptocurrency market update
We're gonna be talking about verge surpassing over 200 million dollars in daily transaction value for the first time ever
Shout out to all y'all verge fans out there
And we're also gonna be looking at bitcoins technical analysis being that Bitcoin moves the market and then also touching upon
The all coin opportunities that we've been talking about over the past couple of weeks
Because I want to show y'all how I'm taking advantage of that. How you can - so
Transitioning into our technical analysis you can see here with Bitcoin
Unfortunately, we're not seeing the strength that we're looking for right now with this pullback
Especially looking at this MACD here on the one day. You can see how the MACD is still extremely hesitant here
How it is curving back however you can see how it's not doing it with enough strength with the histogram
In terms of buyers and sellers and what's most important to note here is
Looking at the previous bottom that we found with Bitcoin around February we bottomed out
Around fifty nine hundred you can see how we had this sharp pullback, which we're not seeing right now. This is an extremely
casual pullback and in my opinion
This is just another bull trap that we're seeing and because of that I'm being very
Precautious with all of my swing trades, and I'm not being greedy
I'm taking profits when I can
Because understand for you to make money in a bear market number one is a great thing but number two
not being greedy in a bear market is extremely important because a bear market will easily take your money out of your pocket and that's
Not what we want to see here with Bitcoin so in terms of the RSI one interesting thing that I am seeing here that may
Allow us to change our opinion
Slightly about where Bitcoin is headed is the fact that it's testing this 40 RSI and level here
You can see how we're now above 40. However. We're not necessarily
Surpassing that into the neutral zone
Which would be a very good thing for Bitcoin because if you look at aetherium STEC?
: Alice's you can see how true to pull up a four-hour RSI it is actually
hovering above that 40 level and this is a perfect depiction of
Understanding how to use the AR side you can see this is 40 right here
And we came all the way down from these oversold levels bounced at the 40 or at least right around it
Bounced all the way back down to that 30, and then once we broke past 40 we bounced on it
And then now we're seeing further upside because it's in that neutral zone
so I'm looking to see this exact pattern here with Bitcoin and
Once I see that I can have a little bit more
Confidence knowing that the RSI is now in a neutral zone at least not in a bearish zone
So that's what I'm watching right now for Bitcoin and this actually leads us into our trade alert that we posted yesterday
I'd like to talk about this because a lot of you are asking about it
If you all don't know we give trade alerts on our patreon the link is in the description below
But we did a theory of call yesterday with the USD pairing for all
Exchanges and the buy zone was from three hundred and seventy dollars to the minute eighty nine dollars
And if y'all pull up this trailer you look at it. You can see how we're already
Surpassing the buy zone into the tick profit zone. However a lot of you are asking me whether or not
They should wait until these higher highs well. That's more of a personal preference. Here's something
I will tell you I can give you
some options and maybe some
Hint ores and pointers on how you can play your strategy whether you're either gonna swing trade this or hold this for the long term
For me personally. I am going to play this in a specific manner where I can still swing trade, but also have a long-term
Opportunity here with aetherium being that the one day RSI is so oversold right now
it would be a good time to have positions locked into a theory not just positions to eventually sell for a quick profit and
So what I'm watching right now with aetherium is a couple different things
But here's the best way to dollar-cost
Average and manage your risk in my opinion with a trade like this if y'all are on our
Patreon trade alerts and what I would say is now that we're in the tape profit zone
being the fact that you were able to get these good prices in the buy zone number one you want to set up a
100% stop-loss
Realm or zone for yourself so that you never can lose your profit and most importantly keep your profits
So what that means is you want to set up a stop loss in the take profit zone that you're not willing to negotiate
So let's say I were to set that up here at
405 and this is gonna be an example since we're doing this on the video
But let's say I were to set up this stop-lossed year at 405 US dollars
No matter what if aetherium pulls back past 405
I will sell 100% of my position
Take my profits and be happy with what I've created or what I've gained which at this point is right around
78% on this trade alert now if you want to take advantage of further upside understand we haven't sold anything yet
right we've set up a
non-negotiable for ourselves
But now it's about setting up take profit zones and laddering our way out of the position to eventually enter back in so in
This case what I would do is looking at the for our our side understanding that we're most likely going to see some resistance
Right along that 60 because 60 is a bullish zone
And it's sometimes hard to get it's part of get past 60 you can see here
We'll be found resistance along that 60 but for the most part
You'll never just soar right through we're mostly gonna see some sort of resistance here on that 60 so because of that my first
Dollar cost averaging exit point in my opinion
Work is going to coincide with the RSI touching the 60 so what I'm gonna
Do is set up an alert here, and this is a little bit more of a dynamic trading style
But setting up this alert here is going to allow me to be aware of when the RSI
Touches that 60 where I know there's going to be potential
Resistance and I can take my position off in there just in case we fall all the way back down to this neutral zone
I can take that money that I
Had exited the position with and put it back into Athenaeum if I really wanted to so you see how this works because there's so
Much dynamics to this this isn't a 1 all be all strategy
This is just an idea so setting up that non-negotiable setting up a alert here for the first initial profit exit is
Extremely important now it's also setting a price zone, so what you can also do at this point you save yourself
Okay, if aetherium goes from this buy zone, and you can even use this percentage or let's say like for me
as an example, let's say I were to purchase my position at 375 dollars, and I wanted to initiate a
15% return well here you go 15% is right around that 430 USD
Mark so I can go ahead and set up my first profit target at 430 US dollars now
I can go back and say to myself. Okay. Now. What is my next profit target? Let's say we want to do 20%
well
that's at four hundred and fifty dollars a
big even maybe you put it slightly below the big even just to ensure then we can take their profits properly so maybe
447 set up another take profit
Exit so they all see how you manage your risk with
setting up
Non-negotiables for yourself as a trader so that your emotions don't
interlude or
Almost blind you in your trade
So this is an extremely
Important thing that each and every one of y'all should be using and utilizing and that's entry and exit point so that's just a quick
Example for those of y'all that are in the etherium alert
But let's transition into bitcoins total market cap because this is also extremely important right now. We're right around
127 billion dollars a lot lower than where we were in December of course
But what's really interesting about this whole graph is looking at the BTC dominance like we've been talking about over the past couple of weeks
And seeing how the altcoins are now rising in dominance with Bitcoin at the same time for the first time in a long time whereas?
Before when we were acting as an inverse relationship with Bitcoin so knowing that there's more opportunities arising with these altcoins
Transitions us into this next phase of opportunity
Which is coins like Virg right Virg had this amazing run up today 53% in the USD pairing
43% in Satoshi value, and why is it seeing as well if y'all are here on snipers to number one?
You know we talked about this several days ago saying that there was hype about verge announcing potential partnership around April
17th so that right there should have been a notice for y'all to know okay?
I should probably put in position by the hype salva news write that down if you haven't already
By the hype sell the news and the hype was bought several days ago for a lot of our snipers here on snipers, too
But for those of you that did it don't worry
There's many opportunities like this all the time in my opinion looking at the technical analysis here with Burge
Remember you can never determine total magnitude
You can only determine price direction with technical analysis however
You can still utilize
potential resistance points from the past
To determine where we're gonna see potential resistance and now that you can see we're heading towards these very known resistance
levels in my opinion
There's just not as much upside potential right now with verge
For me to position a trade even if I were to put in a short or long
Let's say I've put in a long position right here
Remember we're looking
To see and and get into positions that have a lot less risk than reward so you can see with our risk here
We've got all this risk down here and only so much reward in my opinion
This isn't attractive enough for a trainer like me to put in a position at this point
I've actually started dollar-cost averaging my position out of verge at these higher highs just like we talked about with aetherium
Because understand that yes, it has intrinsic value. It's an awesome project, but don't fall for the hype
Don't just buy into the news once the coin is already broken out
Be the person that buys before the break out and then cells within the breakout so hopefully y'all can take that advice
here's the graph of
Verge surpassing over 200 million in transaction volume, and this was a huge feat for
Virginian it shows you that verge has a lot of potential for use case and it has that intrinsic value, so
With that being said I want to conclude this message with allowing y'all to really become more level-headed
I hope each and every one of you can take this time to really start self
diagnosing looking into yourself and say to yourself am I
Smart with my money in this market or am I just following the hype because what we're seeing now is all of these opportune
moments in this market like the by Nance
opportunity or the VA an opportunity that
have almost become more and more obvious as we've become more accustomed to this market and
taking advantage of these opportunities
Can really allow you to enhance your profits in your trading portfolio so in my opinion?
Taking the time to look into yourself being self aware of your strengths your weaknesses
What you need to improve on is important, and I kind of want to just deliver that message?
I just felt the need to do that because we've had some awesome calls over this past month even with this bear market and
For me at least
Profits have not necessarily
Been declining in comparison to the early part of 2018 where we've seen a lot less profits in December
I've actually seen better profits here in March than I've seen in January in February
Because we're becoming more accustomed to what this markets like what influences this market
And why you need to pay attention to these sources like our YouTube channel or any other source for that matter so with that being
Said thank you all for watching until our next update
Hopefully this added some value and if it did hit that subscribe button and the post notifications bell
Thank you so much for watching snipers team out
