Bitcoin Thread

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Everyone has come alive on this thread these past few days - must be the recent price action.
 
One surprising thing is that the Bitfinex shorts didn't get squeezed today even with the $1000 move up. The shorts actually increased. Could add more fuel to the pump.

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Longs are climbing fast though which is expected:

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True but how angry are Binance clients right now...I would be feeling scammed right now. Exchange is due to come online in next 24hrs..interesting see what happens . Especially with automated sell orders ..
 
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SaiyanZ said:
One surprising thing is that the Bitfinex shorts didn't get squeezed today even with the $1000 move up. The shorts actually increased. Could add more fuel to the pump.

Ucb60Qmw



Longs are climbing fast though which is expected:

uIl3SSCk
Click to expand...

More important is that Bitmex is the market leader. Bitfinex doesnt matter right now, it is only following like the other exchanges based on what Bitmex is doing.
 
Damac10 said:
True but how angry are Binance clients right now...I would be feeling scammed right now. Exchange is due to come online in next 24hrs..interesting see what happens . Especially with automated sell orders ..
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They could still trade just not withdraw / deposit. If they are desperate to put $ on binance in order to buy they can still use binance card purchase which works out pretty well if they are so desperate.

I highly doubt a large percentage of binance traders keep their balance outside the exchange so I dont think the withdraw/deposit is a big issue. The only people who might feel bit pissed is binance users who might have wanted to withdraw to bitmex for margin trading FOMO.
 
I've seen a few people saying that next pump will go to just below $8500 and that will be the top for now. In line with July 2018 peak. If so I might just survive. My earliest liquidation is $8520. After that I start getting rekt and don't really have much more funds to add margin unless I close some positions and take some losses.

This move is already insane. The chart below is on the log scale so the size of the move can be compared directly to the size of the previous ones.

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SaiyanZ said:
I've seen a few people saying that next pump will go to just below $8500 and that will be the top for now. In line with July 2018 peak. If so I might just survive. My earliest liquidation is $8520. After that I start getting rekt and don't really have much more funds to add margin unless I close some positions and take some losses.

This move is already insane. The chart below is on the log scale so the size of the move can be compared directly to the size of the previous ones.

B9hAgbBW
Click to expand...

If you opened shorts at just under $8k Id suggest you to get out even or with slight profit right now.

No reason to push it into negatives hoping for a late dump, rather re enter after the accumulation peak at $8500 as you suggest.

just my 2c
 
John Tempus said:
If you opened shorts at just under $8k Id suggest you to get out even or with slight profit right now.

No reason to push it into negatives hoping for a late dump, rather re enter after the accumulation peak at $8500 as you suggest.

just my 2c
Click to expand...


I added to existing short positions to move liquidations further up and increase the entry price. Probably not the best thing to do but it's worked for me in the past. Other options were close a couple shorts at a loss or do nothing and wait for it to move more.

So far, trading on Bitmex since November I've never closed a position at a loss ( I also don't use a stop loss). Have had two liquidations in that period though. One when I just started out and was using 25x without knowing much about margin etc. The 2nd time was in that $4200 to $5000 pump a month ago.
 
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SaiyanZ said:
I added to existing short positions to move liquidations further up and increase the entry price. Probably not the best thing to do but it's worked for me in the past. Other options were close a couple shorts at a loss or do nothing and wait for it to move more.
Click to expand...

Ye if thats what you did then you are in for a possible rough ride.

I am closing my longs at 7979 for a sneaky 479% gain for the day unless the price makes a plummeting correction right around 7978.50 just to make me sob in tears. :p

I am hoping for a small correction when/if it fails to break $8k again and possibly correct back to 7500-7600 so I will put new long in at around 7550. Bitmex had 3 stabs at $8k, I think it might go for a 4th and then people might look at taking profit, lets see.

Main thing that makes me think/hope for BTC to slowdown and correct back down is to make room for altcoins to get their level ups before BTC goes for the next round. I might be entirely wrong and BTC will not slow down considering it just broke 60% dominance but one can hope. :D

EDIT: I chickened out and decided to take profit at 7899 , if there is another small dump down to 7750 ill go long again in smaller scalping bursts. There might be a sideways scalping opportunity coming up ranging between 7700-8000 while it tries to penetrated 8000.
 
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Found out yesterday that you can do instant transfers between your own Bitmex accounts (with no fees). Makes it a lot easier to manage several accounts as no longer have to go through the blockchain and wait for the once a day withdrawal and then confirmation afterwards.

Just sent an email to Bitmex support and told them I want to link my accounts. Already linked and it works great.
 
It is possible to link your BitMEX accounts, this allows for free and instant bitcoin transfers between your linked accounts.

Please ensure that the first and last names on the accounts are the same and then send an email to [email protected] with a list of the email addresses for the accounts you would like to link.

Please note that any affiliate link applied to the accounts will be removed once they are linked.
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This is the worrying bit though as you seem to lose your discount.
 
If BTC can reach $10K massive FOMO will break out and we'll see a bull run like never before. If not, at $8750 it should give resistance and might pull back to $4000 region.

Sounds clever ne ? :cool:
 
Swa said:
This is the worrying bit though as you seem to lose your discount.
Click to expand...

The fee discount is tiny as fees are already quite low. Limit fees are 0.025% and the discount is 10%. So unless I'm mistaken you save 0.0025% on fees with the discount.

I've never used an affiliate.
 
HunterNW said:
If BTC can reach $10K massive FOMO will break out and we'll see a bull run like never before. If not, at $8750 it should give resistance and might pull back to $4000 region.

Sounds clever ne ? :cool:
Click to expand...
I still think this is being manipulated as the rest of the market isn't recovering. The news stories are claiming it has but that's bull. The part they are leaving out is that it's not just about how they're climbing but also how much they've fallen since the start. Take a look here and tell me that ETH has recovered. This is the same for all the major cryptos. In fact they are still falling against BTC.

There's nothing in the market that would justify this.

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@Swa I for one know ETH is way off track. Not sure it will ever recover again. As far as BTC goes, for me it's a calculated gamble.
 
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