Bitcoin Thread

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Swa said:
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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I hold ether, eos, tron, ada etc. All have mafe very bullish moves up.

Eos broke 6 bucks. Etherium 200 etc. They're not at quite the same tear but nit far behind btc.
 
I might just survive this if it starts to top out soon. Moved short liquidations to above $8700 so have about 10% leeway left with no more funds to add. Need a pullback to about $6500 to be back in the game trading again and $6200 to break even on recent trades. Anything below is pure profit.

My trading strat can handle a 50% move up or down fairly comfortably but needs about a 20% retracement to keep going. 70% up like now is pushing it.
 
HunterNW said:
@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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It's not just ETH though but basically all the major cryptos. Here's the charts for both
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As you can see both BTC and ETH saw more or less the same action during December 2017 as it was market related. Nothing this time around to justify that huge green dildo at the end. Sure the market looks a bit better than at the start of the year but it's still BTC that's off track. Usually in the past when that's the case there's a major correction at some point.
 
Countcrypto said:
I hold ether, eos, tron, ada etc. All have mafe very bullish moves up.

Eos broke 6 bucks. Etherium 200 etc. They're not at quite the same tear but nit far behind btc.
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I got EOS when it was heading for R20. It isn't anywhere near a recovery and I got rid of it long ago.
 
Swa said:
As you can see both BTC and ETH saw more or less the same action during December 2017 as it was market related. Nothing this time around to justify that huge green dildo at the end. Sure the market looks a bit better than at the start of the year but it's still BTC that's off track. Usually in the past when that's the case there's a major correction at some point.
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FOMO..... People don't know ETH really. Everyone knows about Btc.
 
Swa said:
It's not just ETH though but basically all the major cryptos. Here's the charts for both
View attachment 657206
View attachment 657208

As you can see both BTC and ETH saw more or less the same action during December 2017 as it was market related. Nothing this time around to justify that huge green dildo at the end. Sure the market looks a bit better than at the start of the year but it's still BTC that's off track. Usually in the past when that's the case there's a major correction at some point.
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ETH moved closer to BTC at the time due to the future prospects at the time. In 2018 and early part now of 2019 people realized that ETH have likely no real unique future with all the other big smart contract chains that launched or got traction in 2018 so ETH is just wobbling around until something major gets announced or people in some way start to trust in ETH future again.

Also another big important aspect is that in 2017 runup the market was saturated with FAR fewer major cryptos nevermind the hundreds of smaller cryptos that saw light in 2018. All of these coins take a portion of the marketcap liquidity away from the previous bullrun coins which makes it even more impressive that BTC is hitting 60% market share.

Between ETH and BTC, ETH is way deeper in the pits if we compare the ATH of both coins. BTC recovery is far ahead of any ETH recovery even though I don't think it is likely at all of ETH to ever hit the previous ATH again in the current smart contract market. It is just too saturated and will become more saturated.
 
Equation is quite simple for me now. If it reaches and goes above the red line at $8800 before going down below the green line, I'm rekt. Was a good run and learning experience.

kFIFRPi8
 
SaiyanZ said:
Equation is quite simple for me now. If it reaches and goes above the red line at $8800 before going down below the green line, I'm rekt. Was a good run and learning experience.

kFIFRPi8
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How deep are you in.. I think you should be save considering a correction must be on the cards before we pump that high but is there no way for you to get out even or with a slight loss. How does your entries look at what leverage ?

Please tell me you didnt keep a short open since 6400 ? Yikes!
 
John Tempus said:
How deep are you in.. I think you should be save considering a correction must be on the cards before we pump that high but is there no way for you to get out even or with a slight loss. How does your entries look at what leverage ?

Please tell me you didnt keep a short open since 6400 ? Yikes!
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I have a bunch of entries at 10x leverage. Don't use a stop loss because price moves too much. Though in one-sided move like this that happen a couple times a year, it would be useful. Hindsight is 20/20 though.


What I'll do now is close a position at $6700 if it gets there (got a short entry there as well), then long with that account and keep it open to around $8600 (worst case scenario). This will triple that account at 10x and then can use those profits to improve my other positions. Need a move down first to put the plan into action.
 
SaiyanZ said:
I have a bunch of entries at 10x leverage. Don't use a stop loss because price moves too much. Though in one-sided move like this that happen a couple times a year, it would be useful. Hindsight is 20/20 though.


What I'll do now is close a position at $6700 if it gets there (got a short entry there as well), then long with that account and keep it open to around $8600 (worst case scenario). This will triple that account at 10x and then can use those profits to improve my other positions. Need a move down first to put the plan into action.
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Yeh sounds like you are in a bit of a race right now.

Better have some clean undies it might be a rough ride.
 
Thor said:
Trade Bitcoin and other cryptocurrencies with up to 100x leverage.

jesus.
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Thats really just for the occasional gamblers and advertising smirks. No sane trader looking to actually turn a long term profit bother with that high leverage. Bitmex stated the same that most of the traders use between 5-20x leverage.
 
Temujin said:
Anyone used liquid infinity?
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Nope, they have as close to 0 liquidity as it gets. Just take a look at the margin trading platform and see how many trades execute within 1 minute or an hour if you are bored.

They will not get many users with real volume to trade with their current fee setup. There is no rebates for market makers. Makers and takers, everyone pays a fee.

You will be trading alone. :p
 
John Tempus said:
Nope, they have as close to 0 liquidity as it gets. Just take a look at the margin trading platform and see how many trades execute within 1 minute or an hour if you are bored.

They will not get many users with real volume to trade with their current fee setup. There is no rebates for market makers. Makers and takers, everyone pays a fee.

You will be trading alone. :p
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Thanks
 
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