Crypto lounge thread

Deepdiver

Crow
Gold Member
I can easily understand almost any concept in TA but I can never get Elliot Wave Theory. It just seems like complete bullshit but half the people that do TA for a living swear by it.
The Key is fitting Fractal "Elliott" Waves into support and resistance levels guided by Fibonacci Extension and Retracement mathematics. E molto simplice!


Relation Between Fibonacci and Elliott Wave Theory​

Fibonacci Ratio is useful to measure the target of a wave’s move within an Elliott Wave structure. Different waves in an Elliott Wave structure relates to one another with Fibonacci Ratio. For example, in impulse wave:

Trending "Motive" Wave Up Guidelines

  • • Wave 2 is typically 50%, 61.8%, 76.4%, or 85.4% of wave 1
  • • Wave 3 is typically 161.8% of wave 1
  • • Wave 4 is typically 14.6%, 23.6%, or 38.2% of wave 3
  • • Wave 5 is typically inverse 1.236 – 1.618% of wave 4, equal to wave 1 or 61.8% of waves 1+3
Traders can thus use the information above to determine the point of entry and profit target when entering into a trade.

Corrective Wave Down Guidelines

  • • Zigzag is a corrective 3 waves structure labelled as ABC
  • • Subdivision of wave A and C is 5 waves, either impulse or diagonal
  • • Wave B can be any corrective structure
  • • Zigzag is a 5-3-5 structure
Fibonacci Ratio Relationship

  • • Wave B = 50%, 61.8%, 76.4% or 85.4% of wave A
  • • Wave C = 61.8%, 100%, or 123.6% of wave A
  • • If wave C = 161.8% of wave A, wave C can be a wave 3 of a 5 waves impulse. Thus, one way to label between ABC and impulse is whether the third swing has extension or not
 
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Deepdiver

Crow
Gold Member
Deepdiver thanks for posting those. Do you intend to sell into tether or something at around those 1.618 levels, or are there other factors that you'll be looking at as we get further along that might indicate that we're either going higher or unlikely to reach that level? Thanks again.
Rule of thumb always sell at larger wave 3 & 5 highs and buy back in at wave 4 and ABC lows like where we are now with BTC, ETH, and LTC .618 retracements and all the ALTs that track them - BTC being the tide that raises and lowers the ALTs. Fibonacci ratios above are solid technical predictors with the Ranges being the ATRs (Average True Range 20 Day simple moving averages) of 4,500 per day for BTC and 400 per day the ATR(20day) for ETH above and below the technical targets. ATR(20day) constantly fluctuates so factor that into your range calculations.

Fibonacci Rules! If you do the simple Fibonacci fractal calculations above you will never succumb to FUD or FOMO as you will know within the ATR(20day) ranges where the markets are at now, where they have come from and where they are going to!
 
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Coja Petrus Uscan

Hummingbird
Gold Member
Does anyone have any tips for using DEXes? I'm trying for the first time right now.

I've connected my metamask to both Sushi and UNI swap and have had two transactions that timed out with a third that's taking forever. Anyone know how to get transactions through?
 

Penitent

Sparrow
The following is from a blog post I wrote a few months ago on "Seed Phrases"

For those of you who aren't familiar with the term "seed phrase," I would ask you to get familiar. Bitcoin, also known as "magic internet money," is on the verge of widespread adoption and the price of one Bitcoin is expected to reach one million dollars before the end of the next halving cycle. Other cryptocurrencies abound. They are not going away.

To briefly explain the meaning of the term seed phrase, it is a list of 12 (sometimes 24) words which are generated when you create a wallet to hold your cryptocurrencies. The seed phrase is your key to your wallet. It should be kept secure because if you lose it you are at risk of losing access to your wallet. NOBODY but NOBODY can help you get your money back. Not your keys, not your coins.

While the seed phrase to your wallet should be kept secret, there is one seed phrase that has been made public, and this seed phrase is the key to the Kingdom of Heaven. You should learn this phrase first, because the Kingdom of Heaven is more important than your riches which will be left to others when you die. This seed phrase happens to be of the 12 word variety: "Lord Jesus Christ, Son of God, have mercy on me a sinner." This phrase comes out of the Tradition of the Church, and is known as the Jesus prayer. When baptized Orthodox Christians say this prayer and invoke the name of Jesus Christ, the Comforting Spirit makes His appearance. For beginners, Metropolitan Hierotheos (Vlachos) recommends setting aside 10 minutes at the end of the day and dedicating this time to the Jesus Prayer. Later, more time can be dedicated to the prayer.
 

BoiBoi

Pelican
Rule of thumb always sell at larger wave 3 & 5 highs and buy back in at wave 4 and ABC lows like where we are now with BTC, ETH, and LTC .618 retracements and all the ALTs that track them - BTC being the tide that raises and lowers the ALTs. Fibonacci ratios above are solid technical predictors with the Ranges being the ATRs (Average True Range 20 Day simple moving averages) of 4,500 per day for BTC and 400 per day the ATR(20day) for ETH above and below the technical targets. ATR(20day) constantly fluctuates so factor that into your range calculations.

Fibonacci Rules! If you do the simple Fibonacci fractal calculations above you will never succumb to FUD or FOMO as you will know within the ATR(20day) ranges where the markets are at now, where they have come from and where they are going to!
DD, thanks for the work here. I know very little about technical analysis and would like to learn more. Do you have book or whatever resource recommendation for a newb to educate himself?
 

Coja Petrus Uscan

Hummingbird
Gold Member
Does anyone have any tips for using DEXes? I'm trying for the first time right now.

I've connected my metamask to both Sushi and UNI swap and have had two transactions that timed out with a third that's taking forever. Anyone know how to get transactions through?

Buy two SafePal wallets - safepal.io - one as a recovery device. Do a a search for it for more posts. It is best to create your own keys then import them into the device. Then keep the keys safe.

By far the best wallet, though it doesn't have some of the new chains, like MATIC, SOL, FTM.

With SafePal you navigate to the DEX in the mobile app, interact with it there and sign TXs with the hardware wallet; scanning in codes with the signed TXs.

People seem to have a lot of issues with MetaMask and Ledger.


I'd also advise staying away from any ETH DeFi, as it's to expensive and slow. With SafePal you can swap between many coins in the wallet, e.g. from BTC to Binance pegged BTC.

Using other chains can be an issue as you need to get hold of tokens on their chain. This site allows a lot of inter-chain swaps - https://multichain.xyz/

But if you are transferring from ERC-20 be prepared to pay beaucoup money. The best way to get hold of other tokens if you have them on a CEX is to see if they allow withdrawals in another chain, e.g. Binance has USDT withdrawals on Tron, BSC, ETH and maybe others. If you can get the token on a cheaper TX chain you can then use MultiChain to swap to another chain for pennies.

The best DEXs (IMO) are: Raydium and PancakeSwap.

Your transactions probably didn't go through as the gas price got away from you. IN which case you might have a stuck transaction, which mean you can't make any others. You have to cancel it, which costs a TX and is a pain. Again why ETH is looking pretty flake these days, now the "smart" big money is coming in.
 

Kangaroo

Woodpecker
Gold Member
Does anyone have any tips for using DEXes? I'm trying for the first time right now.

I've connected my metamask to both Sushi and UNI swap and have had two transactions that timed out with a third that's taking forever. Anyone know how to get transactions through?
click edit and make it fast (pay more)
 

kel

Ostrich
Sorry re-read what I wrote and I am disappointed in myself.
5% per month paid out daily. Similar to a 30 day CD.
5% monthly is still crazy high. My savings account (not that I keep much there or expect any kind of decent return) gets a fraction of a percent per year ("Why aren't Americans saving money?"). I should get in on your thing.
 

Deepdiver

Crow
Gold Member
DD, thanks for the work here. I know very little about technical analysis and would like to learn more. Do you have book or whatever resource recommendation for a newb to educate himself?
The Elliott Wave Theory Guide link I posted above with Fiboncci ratios throughout is a good start. Remember News is noise with Elon the noisiest of all. Fibonacci Rules as markets always do what they are supposed to do. If you sold at wave 5 the Primary Wave 1 high and bought back in at the .618 ABC Primary wave 2 swing lows you saved a small fortune..
 

The Beast1

Peacock
Gold Member
5% monthly is still crazy high. My savings account (not that I keep much there or expect any kind of decent return) gets a fraction of a percent per year ("Why aren't Americans saving money?"). I should get in on your thing.
I know, can't go wrong with that.
 
( 0.00005775×365 ) = 0.02107875 ÷ 0.39284263 = 0.0536% <- probably about 5.5% with compounding

They haven't labeled it very well. Usually they will list something like APY. I've just accidentally put myself in for a 1 month fixed term and it's not apparent what the actual rate is. It say 1% bonus, I presume per year.

You can get better rates from places like - https://app.beefy.finance/

Though the rates have been hammered. Was getting 30% APY on ETH recently.
These things seem too good to be true. Which ETH vault do you recommend?
 

Coja Petrus Uscan

Hummingbird
Gold Member
These things seem too good to be true. Which ETH vault do you recommend?

The vaults (single-assets) are based on lending and are boosted with farm tokens, which will be worth something as long as the market holds up.

The dual or more asset pools are based on accruing trading fees (and staking fees). If you are using farming they use the farm reward to buy more of the pool tokens, which is where a lot of the high APYs come from.

You can see by the non-fluffed pool rates on Raydium that high rates are realisable - https://raydium.io/pools/

The rates are up to 55% on crypto-stable pairs and 14% on stable-stable pairs.

Those may be boosted in farms of fusion, a little tipple for early-adopters.

In short, a lot of the bankster cream they sluff in their closed system is being handed over to the little guy; and even on the completely reality-based options the rates are quite nice and sound.

The risk are attacks, of which there have been few. The biggest risk has been depositing into fake platforms that get pulled.

I can't say which the most solid is overall. I have avoided the ones with poorer hallmarks though.

For something on BSC, it would be good to see it on Binance, who have vetted them - that is Beefy, Auto and Bake.

I use Beefy, which I like as it has no ponzi tokens and no stupid fees (like AUTO). I also use Acryptos and was using AutoFarm. The best ETH vaults in terms or rates have been Acryptos and Beefy. This required to switch your BTC to Binance pegged BTC.

For Solana - Raydium.

For ETH - Uniswap and 1Inch.

There will probably be a multi-billion dollar blow up at some point, but so far there has been virtually nothing. Mitigate it by spreading between chains and farms. I also use some centralised lending platforms.

The high interest rates are real 1) as an early adopter; who 2) sells when this pops and reality kicks in. Crypto is mostly stupid and bares little to sound economics, but it will get there. There will be the opportunity the make it big from DeFi, as there was on BTC and ETH.

When one day this all calms down and is based on real economics, Joe Schmo will still be able to use his assets for liquidity, but the rates will likely be between 2-10% above real inflation. While now this is all being creamed by the gated-usury system.
 
click edit and make it fast (pay more)

Worked. Disliked paying ~4% in fees but I wasn't buying a ton, just testing the waters to get a handle on the tech.

I'd also advise staying away from any ETH DeFi

What are some other DeFi base layers for executing smart contracts? My understanding is that BNB is fairly centralized (although I guess ETH is too). I still own some EOS from back in the day but its so far behind now that one of these days when I have some extra time I'll trade it in for something else.
 

Coja Petrus Uscan

Hummingbird
Gold Member
What are some other DeFi base layers for executing smart contracts? My understanding is that BNB is fairly centralized (although I guess ETH is too). I still own some EOS from back in the day but its so far behind now that one of these days when I have some extra time I'll trade it in for something else.

As mentioned, use that MultiChain.xyz site to swap chain. To avoid the fees it is good to use something like USDT on BSC.

BSC is centraliesd, but one benefit with that is they have been more active at fixing bad situations that have materialised on the chain. I thin if PancakeSwap (PCS) had an issue then they might fork or something else.

The ones with most locked are, in order:

ETH
BSC
LUNA
Huboi
MATIC*
SOL
AVAX
FTM

I don't think Huboi has it to give BSC a run for their money.
MATIC has done very well in sucking billions of ETH tokens on to their chain and getting major platforms to add their chain - 1Inch, Sushi, Aave
SOL has some sophisticated development, good backing, but a bit rough around the edged and not got as many coins as MATIC, but there are a lot planning on going multi- on SOL.
AVAX does not look like it has it in it.
FTM seems like a poor man's BSC, but less centralised.

If I was just getting into it, I would go for SOL and MATIC. In particular the main DEX is MATIC (QuickSwap) is undervalued, same with Raydium.
 

Odinlo

Chicken
As mentioned, use that MultiChain.xyz site to swap chain. To avoid the fees it is good to use something like USDT on BSC.

BSC is centraliesd, but one benefit with that is they have been more active at fixing bad situations that have materialised on the chain. I thin if PancakeSwap (PCS) had an issue then they might fork or something else.

The ones with most locked are, in order:

ETH
BSC
LUNA
Huboi
MATIC*
SOL
AVAX
FTM

I don't think Huboi has it to give BSC a run for their money.
MATIC has done very well in sucking billions of ETH tokens on to their chain and getting major platforms to add their chain - 1Inch, Sushi, Aave
SOL has some sophisticated development, good backing, but a bit rough around the edged and not got as many coins as MATIC, but there are a lot planning on going multi- on SOL.
AVAX does not look like it has it in it.
FTM seems like a poor man's BSC, but less centralised.

If I was just getting into it, I would go for SOL and MATIC. In particular the main DEX is MATIC (QuickSwap) is undervalued, same with Raydium.
What about LUNA?

I assume it is not very prospective, as you didn't include it in your reasoning.
 
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