Sign up with GoogleIt shouldn't be the case though, a stop loss should market execute as soon as your price is hit even if when it's your turn sorta it's a lot worse. A stop-limit is a bit different which can be skipped if you don't put in enough gap
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Bitcoin Thread
- Thread starter Dan C
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It shouldn't be the case though, a stop loss should market execute as soon as your price is hit even if when it's your turn sorta it's a lot worse. A stop-limit is a bit different which can be skipped if you don't put in enough gap
You can also draw a resistance from that touch off around 12k, touching where it meets your purple line and then the other 2 points, you'll see once it broke that the green candle kept soaring, that should be a support now
*SynergyX*
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but it is the case in all margin trading in all markets (brokers offer guaranteed stops for this reason)- on short time frame the price is actually creating gaps - so it goes from 6800 to 6850 without any thing in between for example and if your stop is 6825 it gets missed.
Straight from Bitfinex website
"When a Stop triggers at your specified price, a Market Order is executed and immediately begins to match the prevailing offers available in the order book, in-line with other orders being executed. During a momentary, rapid price/volume change, such as a fundamental market event causing increased buying/selling at an atypical rate, a large stop order being triggered to perform a market buy/sell, or a large position entering liquidation, the Stop could be triggered and begin executing a Market Order until fulfilled in its entirety."
Okay I lied, I added the bold so not exactly straight from there. I've also had it happen to me personally where my stop executed at a worse price during a rapid movement.
saor
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*SynergyX*
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now imagine the move is so rapid that your stop executes 500$ later when it finally matches order in the book.
on a large position that would be extremely painfull
Yeah sorta. It's why it was stuck there for a long time before jumping up crazy. Although it's not a very relevant support now actually because you have that Strong blue line support which it will have to break through before reaching this one again
Yeah, sorry i think I misunderstood you. I thought you meant that it will skip your loss loss entirely and you will have to execute it yourself later. But yeah, it's why it's also dangerous to be in a short position when shorts are at a record high. Price can jump up so rapidly with everyone getting closed out that yours could be executed at a horrible price.
saor
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Yeah.
On the daily this price is going to have to break up or down very soon. I think it'll head back down to the lower blue support line again for one last bounce around that tightening wedge.
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Yeah, could take a while though and with a band that size, by Bitcoin's standard I would regard it as relatively stable which is the best time for Alts I think
SaiyanZ
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The price is slowly slipping. Looks like it's up to the whales on whether we hold above $7.5k. I've gotten out and am in cash now. Made enough to sit and watch until it settles.
Short positions are still dropping which is strange. It's like the opposite of what happened before we went up. I think this market can dump even harder than it went up with fewer people shorting.
Short positions are still dropping which is strange. It's like the opposite of what happened before we went up. I think this market can dump even harder than it went up with fewer people shorting.
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*SynergyX*
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around 7600 is first significant fib level. will either bounce or die
SaiyanZ
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Just trying to have a look at the charts now. Had to go to the 1 minute chart to try and see details for the last few hours. Something that sticks out is the hidden bearish divergence in a few spots. RSI made higher highs but BTC price made lower highs.
It means more people have been buying than selling but the price hasn't gone up. So it indicates to me that we will go down a little shortly because selling pressure will continue to increase.
Then again whales can take us up if they choose. TA doesn't apply if whales are out hunting.
It means more people have been buying than selling but the price hasn't gone up. So it indicates to me that we will go down a little shortly because selling pressure will continue to increase.
Then again whales can take us up if they choose. TA doesn't apply if whales are out hunting.
saor
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Nothing less than daily makes sense any more. The amount of elliot fractal hyperdimensional tesseract spin vector chart analysis on tradingview lately, in the hour/minute range, is ridiculous.
SaiyanZ
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I normally look at the 1hr or 4hr chart because I'm trading it regularly. This increase has been so massive that it's hard to see anything in those charts as yet.
Looks like $7.6k is a strong resistance for now hence the bounce. Though something I've noticed over the last couple weeks is that a mini pump/dump is often shortly followed by a larger dump/pump in the opposite direction. Fakeouts are getting quite common. Maybe whales manipulating and inducing people to trade and then sending the price in the opposite direction.
You think? Don't take this as gospel, but I read somewhere that some fund/manager had got rid of $400m in BC - bit still had $800m left.
SaiyanZ
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If it's just for today then I doubt that is true. The volume when the price jumped was around 10k on Bitfinex which is buys and sells. Even if all were buys and all from the same person it would be 10k x $7.5k = $75m spent. That's only Bitfinex though.