Bitcoin Thread

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Maybe someone should create a crypto trading thread. I like the graphs so keep it up.
 
COMPUTEK said:
^ the original graph is fine, but then the next 20 people ALL quote that graph and add their 2cents ... you end up with 3 pages of the exact same picture :(
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That's not true, you don't have 20 people quoting the same graph, only a few people.

It helps to see support and resistance, etc

I like graphs, keep em ;)
 
Yeah, these graphs are awesome, pretty spot on... if you have a problem with them, then you're not seeing how much of a benefit they are to you

Keep posting guys
 
Looking at the bigger picture it's up against heavy resistance now. The top of the triangle and the longer term downtrend. If it can break above $7600 with volume then I think it will reach $7900 and do something like the green arrows. It might even go a little higher and spike above $8000 to trap people before turning.

If not then we'll probably follow the red arrows. In either case though I think we are still in for a price at $7200 or lower. I think the red scenario is more likely but I will get in quickly if it spikes upwards.

CooWnAfe
 
SaiyanZ said:
Looking at the bigger picture it's up against heavy resistance now. The top of the triangle and the longer term downtrend. If it can break above $7600 with volume then I think it will reach $7900 and do something like the green arrows. It might even go a little higher and spike above $8000 to trap people before turning.

If not then we'll probably follow the red arrows. In either case though I think we are still in for a price at $7200 or lower. I think the red scenario is more likely but I will get in quickly if it spikes upwards.
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I think sellings done, should be pushing to 8k ie, your green artwork:D
 
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SaiyanZ said:
I think the red scenario is more likely but I will get in quickly if it spikes upwards.
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I also don't feel like the bottom has been hit.
A proper bottom where candles splat against the floor and spread out sideways.
There's something that doesn't feel quite resolved yet.
 
A look back at 2013 / 2014 and how long recovery took...

Daily chart.
3 major dips until finally some sideways movement.
2013-A.png

And then a long road to recovery.
Monthly chart.
2013B.png

Not to suggest this time needs to look the same in terms of recovery, but rather that I just don't get the proper feeling of a proper bottom yet.
 
saor said:
I also don't feel like the bottom has been hit.
A proper bottom where candles splat against the floor and spread out sideways.
There's something that doesn't feel quite resolved yet.
Click to expand...

We'll know the next move soon enough. Max it can go sideways at $7500 is another 5 hours. So by midnight tonight it will spike either way. I will get in if it goes up and jump out again around $7800 because it should be mostly a clear path to that point.

A4Vdd9c4


Edit: The move up will fit in with what I saw yesterday morning. The inverse head and shoulders and triangle eventually formed:

SaiyanZ said:
Seeing another possibility now. If it can break the two overhead resistances and get through $7600 with a volume spike then the inverse head and shoulders indicates a trip to around $7800/$7900. We probably haven't hit the bottom yet though so we would go down after I think.

For now though my best guess is we are making a bear flag to go below $7250 unless we break $7480 again.

NcShAH5e


Edit: Also a triangle in there if it does this:

ApfMCDzm
Click to expand...
 
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SaiyanZ said:
Looking at the bigger picture it's up against heavy resistance now. The top of the triangle and the longer term downtrend. If it can break above $7600 with volume then I think it will reach $7900 and do something like the green arrows. It might even go a little higher and spike above $8000 to trap people before turning.

If not then we'll probably follow the red arrows. In either case though I think we are still in for a price at $7200 or lower. I think the red scenario is more likely but I will get in quickly if it spikes upwards.

CooWnAfe
Click to expand...



This seems to be the general sentiment right now, if it can break the current resistance we could see a rally to as high as $8000.
 
broadone said:
This seems to be the general sentiment right now, if it can break the current resistance we could see a rally to as high as $8000.
Click to expand...

That is actually what bothers me at the back of my mind. Lots of people think that we are close to the bottom. So they are now loading up here for the next bull run to over $9000. Things can't be that simple to make money. If the price doesn't go up and instead breaks below $6800 we will have a massive selloff on our hands. The price could go to $5000 and then remain in the $5000 to $7000 region for several months.
 
SaiyanZ said:
That is actually what bothers me at the back of my mind. Lots of people think that we are close to the bottom. So they are now loading up here for the next bull run to over $9000. Things can't be that simple to make money. If the price doesn't go up and instead breaks below $6800 we will have a massive selloff on our hands. The price could go to $5000 and then remain in the $5000 to $7000 region for several months.
Click to expand...

The market is running out of losers paying winners, it has to contract.
 
It's through. Think it should make it to at least $7800 from here. If it gets close to $7500 again buyers should come in and push it up until $7600+ holds.

JC32y01P



Edit: It was a trap. The stop killer both ways move after going sideways for the entire day. Might still go up from here. Can't really tell at the moment with moves like this.

TOvMcDZu
 
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So red path chosen. I actually got caught out with that spike above $7600 half an hour before it dropped. Bought when it spiked and sold when it broke below $7400. Lost about 2% on Luno (0.5% x 2 fees + 1% drop). Normally I never sell for a loss and would wait it out a day or two to see if the price recovers but not in this situation where we just broke below the triangle.

mTNrBE12
 
Bear winter confirmed with close of weekly candle tonight....

needs a close above 7.7k to keep above the 50 week MA. which looks very unlikely with the volume dryer than my butt cheeks in winter.
 
These squeezes are becoming quite common. Happened a couple hours ago too where someone bought 1k BTC to keep it at $7280. That's why it didn't drop more there.

8NkfCMJ9
 
they can only hold it up for so long....

unless some serious money comes in i doubt we see 8k anytime soon
 
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