Bitcoin Thread

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abcab said:
Suppose its only on the browser interface, or there pc app, because I see nothing on the android app yet.
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yea on the pc I can see in my account that the feature is live. However on the iOS app nothing new and given the fact that one has to jump through hoops to even get the binance app on iOS app since its not on the app store then I would not hold my breathe for the feature just yet on mobile.
 
Swa said:
You don't say. There's always been something up with them and their scamcoin. Even those that don't believe it have never really trusted it or their exchange.

Think I will check out what Binance has.
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I love the dark interface and charts but thats about it. I would not trust my money with them at all. Rather binance and bitmex where you know the probabilities of failure are low. Infact I would take Johns' approach to all these exchanges - trust them only as far as you can throw them. They are all shady, dealing with a new volatile asset class in a space that has no regulations. Trade with caution.
 
Noticed that parallel channels create decent entry points. As soon as you can draw one with a clear top/bottom, place a long or short along it. Good for at least one entry it seems. For all those points I've ringed below, it would have been possible able to enter a position using the channel.

5fDEIapB


This current turning point around $11730 is also at the edge of two channels. Got in a short there.

vPwGzsmV
 
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There might be some relieve coming in.

Bitmex is slowly dropping $20-$50million in shorts every other hour. Still sitting close to $600million short advantage but just an hour ago it was closer to $700million and at the end of the huge dump period it was touching $800million. Of course might also just be temporary cooldown until later today when a new dump phase restart.

So all things equal if we are touching $12k with so many shorts that need to exit , once the longs take control again we are surely going to move over $13k or even $14k its just a matter of how soon.
 
John Tempus said:
There might be some relieve coming in.

Bitmex is slowly dropping $20-$50million in shorts every other hour. Still sitting close to $600million short advantage but just an hour ago it was closer to $700million and at the end of the huge dump period it was touching $800million. Of course might also just be temporary cooldown until later today when a new dump phase restart.

So all things equal if we are touching $12k with so many shorts that need to exit , once the longs take control again we are surely going to move over $13k or even $14k its just a matter of how soon.
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That dropoff in short advantage is expected though so I wouldn't read too much into it. The coinfarm info is over 24 hours so the stats is now losing all those initial shorts which were opened when the dump started just over 24 hours ago.
 
SaiyanZ said:
That dropoff in short advantage is expected though so I wouldn't read too much into it. The coinfarm info is over 24 hours so the stats is now losing all those initial shorts which were opened when the dump started just over 24 hours ago.
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Yup

But a quick drop in opposite direction from short to long specially when its so overloaded on the one side have always turned the tide in the other direction when it changes quickly.

The only thing thats not certain is how much it will go up but 100% guaranteed when you start to see those shorts drop off so rapidly the price starts to move up, never failed before. The highest the short count drop off point the more accurate it is. It means nothing if there is only like $50million short advantage and it starts to drop compared to $800million and it starts to drop $50million chunks.

Anyhow we shall see where things go in next couple of hours, definitely not something to use as full on directional trading indicator on its own but it gives an idea of market sentiment.

That said, so much talk right now about sudden bitfinex unscheduled maintenance that just resumed and people reporting thousands of BTC being moved right before they went down so there might be other uncontrollable fireworks coming out soon.
 
Uh oh, Bitfinex news is starting to spread. Might just be rumours or might be something real.

Price is back on track to dump it seems.
 
Think this parallel channel method is a great help for entries. Made 3 trades in the last few hours. Got those 2 tops and 1 bottom using the channels.

6h33SQ4H


Now waiting to short or long around these lines. Even if it breaks there is usually a bounce so enough time to add a stop at break even or in profit.

DMwnuQU3
 
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Im not convinced yet by this sudden pump back up, just looks like more fuel to dump into the market in few hours.

That said, I love the $100-$200 swing trading, much better than a huge pump or huge dump.
 
Got a nice long entry at $11300 again but sold very soon at $11400. Too scared these days to hold for long.

lbo0P3B9


In hindsight that was a good trade.... Dumped now to next level which I missed by $7. Had my long at $11023 but Bitmex only dropped to $11030.

bdrY9EXY
 
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Swa said:
Time's up - SUDDEN DEATH.
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At this rate the conclusion will be - HUMILITY!! with a touch of BABALITY!! from some traders who think a market can go up 30-40% in just few days but cannot crash even faster.

I hated this pump from day one, things were going great around the build up to $7k and then someone hijacked the market causing this short term bubble thats going to just create cancer for crypto.
 
SaiyanZ said:
Good market for scalping though. I'm doing $100 scalps sometimes a few times in an hour.
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Yup, it will bounce around a lot as long as you dont catch that one wick that falls through the floor or rockets up beyond your goal. lol
 
Swa said:
Still some strong support though.
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If it doesnt manage to hold above I $10900 then dropping straight through $10k is more than likely.

I think there is some people holding longs right now from the late pump who might just be pooing themself a little bit.
 
John Tempus said:
Yup, it will bounce around a lot as long as you dont catch that one wick that falls through the floor or rockets up beyond your goal. lol
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Yeah it really gets the heart pumping like just now when $11k fell. Got out at $11100 though so all good. Now waiting for around $11270 or $10700 for next trade. Even if these break, we should get a bounce so enough time to set a stop loss in profit.

cXgdqSiz


Edit: Hit $11270 exactly and bounced back down as expected. Bitmex is a bit bearish now though and couldn't break $11250 so couldn't enter.

fB8cc5BA
 
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Here we go.

I think today is the day we will be testing 5 digits and quite possibly take a stab below $10k then its anyones guess prob 8-9k next target below 10k crashing.
 
John Tempus said:
Here we go.

I think today is the day we will be testing 5 digits and quite possibly take a stab below $10k then its anyones guess prob 8-9k next target below 10k crashing.
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Then you can get one manipulator who can come, put a buy order for 200 Bitcoins, and let the price go back over $12 000...
 
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