Bitcoin Thread - 2018

SaiyanZ

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Looks like the slow dump started. If we have already topped out then I expect something like this. First proper bounce at around $6800. If still very bullish then $7600 or $7200 bounce and possibility of new high.


If you ignore the snowball liquidation wick, this pattern is still in play. It just took a couple extra days to distribute at $8k. Made a little bounce on the 0.236 fib and now next major target is around $6800.

 

John Tempus

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I wonder who on bitstamp will fatfinger their BTC sell order this time that we are at $8k again.

Took profit and sitting out to see where the market is going first, someone will panic sell and fatfinger the market down to $6k again grrrr.
 

SaiyanZ

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Interesting play. Seemed to be topping out slowly and then boom. This will probably push up to make a new high now above $8400. No point in pushing it up to sell at $8000 as there won't be enough liquidity (price will just drop if sell like last time) until it gets to $8400+.




Hedge worked out though. Closed long and took profit and then reopened the hedge.


Extremely bullish would also be something like this I think. Then $10k should easily break. The key is not to double top:

 
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John Tempus

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Im in a different mind.

I think the price will stay around $8k and then someone/something will make a move for a hard dump which might break right through back to $7k in this coming week. When I look at the plateau and todays sudden pump back up it just looks like inverse/regular bart head so the question is will we see a third inverse bart head back down to $7k or possibly lower. One thing that might keep the pump alive is the current tradewars with china and US stock markets taking a hammering because of it.

But that is really only important for people caring about the price being high in order to make a profit. I couldn't care much if it goes up more or down, thank the cryptogods for margintrading.
 

SaiyanZ

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I think they won't just pump it without being able to sell properly after the pump and it will be hard to sell a lot at $8k. This pump was not natural price action as it just came out of nowhere, pumped steadily for 4 hours straight, and now it stopped. It will be easier to sell a lot of coin if they pump it again and then sell from there. If I was the pump group that started this, that is what I'd do.

There are of course unknown bigger fish in the sea that could just load 20k BTC to sell into the market, killing the plan.

I would prefer it doesn't go too much higher and goes back to $5k/$6k region as it should be a lot easier to trade there.
 

phly

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For those curious and interested in trading BTC and Bitmex is not giving you much joy due to hangs/overloaded issue.

Checkout this exchange -
https://primexbt.com?signup=86506


That's a referral link but feel free not to use it and just sign up directly on the site. May be a decent alternative. Another plus is that it looks cool too.
 
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SaiyanZ

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The weekly candle closed last night and combined with the previous two looks quite bullish. Could catapult the price to $10k so I'm planning for that scenario as well as a move back to $6k



I'm currently just buying the dips with a couple accounts (made 2 more so have 7 now) and taking profit often. Profits can be used to add margin or add to a few underwater shorts if it goes up more. If it drops then I can remove margin from underwater shorts to add to the longs. As long as we don't have $1000 moves in 5 minutes I can keep doing this without any trouble whilst constantly locking in profit.
 
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SaiyanZ

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Extremely bullish would also be something like this I think. Then $10k should easily break. The key is not to double top:

This can play out now for it to go above $8400. Bounce came from the right spot just now. Be careful with shorts.

 

Superman-7

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It's planning the best path to the most ****ery for the largest number of people - give it time, it will reveal its hand soon.
At this point I actually want it to go absolutely nuts - a face-melting dip or rip, either way. I'm talking a $1600+ 4H candle sort of thing.
 

John Tempus

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This thing is just not doing what anyone here predicted. Comical.
Not exactly true. I did post just few comments up that I expect a drop to $7k or perhaps lower. It did not happen or not yet that low but there was a $8340 down to $7500 drop. I did not expect the initial $340 pump from the $8000 price point when I posted so if you remove that then the price would in all likeliness have dived to about $7000-$7200.

The recovery and the reasonable sideways stability is a new concern now unless this continues long enough in this sideways movement to establish a new bottom then we are less likely to violent $1000-$2000 dump or pump.
 

phly

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Not exactly true. I did post just few comments up that I expect a drop to $7k or perhaps lower. It did not happen or not yet that low but there was a $8340 down to $7500 drop. I did not expect the initial $340 pump from the $8000 price point when I posted so if you remove that then the price would in all likeliness have dived to about $7000-$7200.

The recovery and the reasonable sideways stability is a new concern now unless this continues long enough in this sideways movement to establish a new bottom then we are less likely to violent $1000-$2000 dump or pump.
When do you think the alt season will start? Everyone seems so ready for alts to pop up. They have been so battered that they look like juicy fruits ready for the picking.
 
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