Bitcoin Thread - 2018

John Tempus

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View attachment 693993
You talking about that 0.1157%?
Yup, that interest is paid towards shorts in 20mins. So a bunch of longs sold out at market order to take profit and avoid interest which in turn caused the snowball effect on further long liquidations.

Happens every single time like this when interest creep up to such higher percentages an hour before interest is due.

Odds are it was just a few individual traders with millions in open position who caused the bitmex ripple. Probably had couple of BTC due for interest that they avoided. :p
 

SaiyanZ

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I think we'll do something like this now:




Edit: Other option if it hangs around above $11700 and keeps testing $11750:

 
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phly

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I guess option B it is. Didn't think we would see 12k so soon.
 

SaiyanZ

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I guess option B it is. Didn't think we would see 12k so soon.
Yeah it feels too soon so not sure if it will hold above $12k. If it stayed around $11700 for a few hours then it would have a much more sold base to pump from. Without the base, $12200 will be difficult to break.

 

SaiyanZ

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Back to $11700 again. I've been using this website recently to see the volume profiles and look for high volume and low volume areas. Seems to have the right profiles but the price goes out of sync at times. There's been a lot of volume between $11550 and $11800 recently. So it's the accumulation or distribution zone for the next big move.

https://bitgur.com/coin/BTC/prediction

I think we have to go to $11120 at some point. Will only long from there or below.
 

John Tempus

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What do you call that pattern?
View attachment 695417
I call these pump -> sideways within $100 range -> dump charts exactly what it looks like. Inverted head and shoulders so if charts mean anything from pure visual perspective it means its more likely after that dump to move back down lower than back up higher unless that right arm is completed.
 
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phly

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Back to $11700 again. I've been using this website recently to see the volume profiles and look for high volume and low volume areas. Seems to have the right profiles but the price goes out of sync at times. There's been a lot of volume between $11550 and $11800 recently. So it's the accumulation or distribution zone for the next big move.

https://bitgur.com/coin/BTC/prediction

I think we have to go to $11120 at some point. Will only long from there or below.
So that site is kinda like the volume profile indicator reserved for PRO accounts on tradingview? I am of the opinion that we are dumping so i'm looking at around $11900 range to place shorts. Risky but I think 12k is done for now.
 

phly

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I call these pump -> sideways within $100 range -> dump charts exactly what it looks like. Inverted head and shoulders so if charts mean anything from pure visual perspective it means its more likely after that dump to move back down lower than back up higher unless that right arm is completed.
interesting that as crazy as these pumps and dumps are - they still stick to fibonacci levels. So a move may seem crazy and out of nowhere but when you see where it stops or ends before reversing then it makes sense.
 

SaiyanZ

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So that site is kinda like the volume profile indicator reserved for PRO accounts on tradingview? I am of the opinion that we are dumping so i'm looking at around $11900 range to place shorts. Risky but I think 12k is done for now.

I've been scalping shorts wherever possible today. $11777 looks like a meme number so we might turn from there.

Yeah that sight is like the Tradingview volume profile except you can't adjust it to see what you want. It does however combine data from several different exchanges in one chart (which Tradingview pro probably can also do) which is much more useful than looking at just a single exchanges data.
 

John Tempus

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I've been scalping shorts wherever possible today. $11777 looks like a meme number so we might turn from there.

Yeah that sight is like the Tradingview volume profile except you can't adjust it to see what you want. It does however combine data from several different exchanges in one chart (which Tradingview pro probably can also do) which is much more useful than looking at just a single exchanges data.
It is kinda "pointless" to use considering it does not auto refresh. So even if you were to use it, it seems impractical if you have to keep refreshing it manually.

I still prefer to get support/resistance numbers specific to the exchange you trade on or alternatively if using tradingview just open charting for all the exchanges you care about and enable it.
 

SaiyanZ

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It is kinda "pointless" to use considering it does not auto refresh. So even if you were to use it, it seems impractical if you have to keep refreshing it manually.

I still prefer to get support/resistance numbers specific to the exchange you trade on or alternatively if using tradingview just open charting for all the exchanges you care about and enable it.

I just use it to get an idea of where the major volume is for the entire market and don't refer to it constantly. Yeah the need to refresh is annoying but it's better than nothing. When going for a swing trade I just double-check with that volume profile to see if the trade makes sense.


The problem with not looking at the volume for whole market is that something big might be happening on Binance which you won't see on Bitstamp or Bitmex. So it's just too much to monitor and you also have to pay for Tradingview Pro. I did think about signing up for Pro just for the volume profile but decided that just looking at a few exchanges is not really worth it and a lot to keep track of. Found that website a few weeks ago when searching for something worth using.
 
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John Tempus

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The problem with not looking at the volume for whole market is that something big might be happening on Binance which you won't see on Bitstamp or Bitmex. So it's just too much to monitor and you also have to pay for Tradingview Pro. I did think about signing up for Pro just for the volume profile but decided that just looking at a few exchanges is not really worth it and a lot to keep track of. Found that website a few weeks ago when searching for something worth using.
For this I just use alerts in tradingview to monitor seperate charts volume and other metrics.

If you swing trade its imperative to have auto refresh / notifications in place rather than having to manually confirm stuff, at least I find the manual process way too clunky.

Tradingview PRO account is worth every dollar tho so Id definitely suggest to fork out the $ and make full use of it.
 

SaiyanZ

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Edit: Other option if it hangs around above $11700 and keeps testing $11750:


If you ignore that pump and dump move it is following the bullish trend fairly well. So will probably make a new high above $12300. I'll just look to short higher as longing is still a bit risky. Market makers seem to want to squeeze out more shorts.

 

SaiyanZ

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Looks like a large triangle has formed. Almost too obvious that it will pump. The usual dump that will catch a lot of liquidations would be something like this:

 

netcruiser

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With PayFast not accepting Bitcoin anymore, anyone known of SA online stores that still accept Bitcoin?
 
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