Bitcoin Thread

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SaiyanZ said:
Yeah it's been a fairly great couple of days trading. I've been starting to use the charts more to trade. My trades, green is where I bought, red is where I sold. Didn't buy now on this last breakout because I have a busy day and can't watch it. I trade on Luno but use Bitfinex data to get an idea of where we going.

vvL1WqEl
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look pretty sound.

only though lingering in the back of my mind now is the low volume on these latest moves up.
 
*SynergyX* said:
momentum is certainly with the bulls, no doubt.
but if it doesn't retrace and retest - we end up with parabolic run and 80% correction again in few months.
cycle will just continue, not sustainable in the long run if crypto is to succeed.
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Absolutely agree, but I doubt the "cartel" care and this pattern = huge profits for them. Crypto inevitably will succeed, there's no stopping it. Too many people are woke to the corrupt banking system. Not to go off topic, but it's laughable to hear proponents of the Fiat money system talk about bubbles. The entire current economic system has been set up to fail.
 
I think key point right now at $9.3k. If it fails to break higher asap we could go all the way back down to $9k.

6IQawCCA


Edit: It looks like this support/resistance line has been reactionary. Just noticed that it was resistance when extended back to yesterday's data. Today it became support and now it is resistance again.

2lqDWsvu


Edit2: Zooming out slightly it looks like there is a large ascending wedge forming. We could fall out right now or get closer to $9.5k first.

nwLmaKdK
 
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will it pump or dump....

looks primed for a pump....(same ol pattern-- sideways consolidation and one green lance to impale the bears)

lots of bearish signs... H&S...rising wedge. but once again we going into the weekend which is 8/10 green
 
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Going as the charts foretold so far. Can't really tell where the bottom is though. Maybe $8950 or $8650.

FCcD1LSB


Edit: Bounced off that support line almost perfectly but without much volume. So might just be temporary. Not going to buy yet.

W1WiWip1
 
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Seems like it's printing a bear flag now. Though might be a bit oversold to go all the way to $8800 so soon.

YPzNGJMc


Edit: It broke out downwards of the flag a lot sooner than I thought it would. Thought there would be another trip up to $9100 before it broke the bottom. It seems like that bottom of the flag is the new resistance as it came back and bounced off it twice already. There's a lot of support in the 8800 to 8900 region so that area will be difficult to breach. Volume was still very low on this last upwards move. Red bars volume a lot higher than green bars.

Ky4WrFku
 
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SaiyanZ said:
Seems like it's printing a bear flag now. Though might be a bit oversold to go all the way to $8800 so soon.

YPzNGJMc


Edit: It broke out downwards of the flag a lot sooner than I thought it would. Thought there would be another trip up to $9100 before it broke the bottom. It seems like that bottom of the flag is the new resistance as it came back and bounced off it twice already. There's a lot of support in the 8800 to 8900 region so that area will be difficult to breach. Volume was still very low on this last upwards move. Red bars volume a lot higher than green bars.

Ky4WrFku
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bears impaled by a morning green dildo....love it!!! bulls still in charger for now

9700 in sight again!!
 
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LOL wtf is going on. 10000btc was just sold on Bitfinex. Price dropped $600 instantly. MtGox 16k BTC that was moved the other day?


tJr3Cj5W


I had just bought but I got the hell out asap when that happened. Lost my fees but trades like that might get people scared and start triggering a drop below $9k now.
 
SaiyanZ said:
LOL wtf is going on. 10000btc was just sold on Bitfinex. Price dropped $600 instantly. MtGox 16k BTC that was moved the other day?


tJr3Cj5W


I had just bought but I got the hell out asap when that happened. Lost my fees but trades like that might get people scared and start triggering a drop below $9k now.
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dont think its going to drop-- wonders how many stops got wiped in that move.
its weird that it did stay down -- because that was a huge sell -- who bought it all up to push it back:confused: smells fishy

either someones drunk or their bot broke - 9500 to 8750 in on minute

kind of a bummer -- invalidates all patterns now :twisted:
 
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LOL I saw it. Orderbook got cleared both ways several times in about a minute by a high-speed whipsaw. Shorts and Longs got REKT :crylaugh:

I just happened to be on the right side thank goodness. Shorted the top but sold wayyy to early. In my defence there was no way I could have reasonably predicted that.
 
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*SynergyX* said:
dont think its going to drop-- wonders how many stops got wiped in that move.
its weird that it did stay down -- because that was a huge sell -- who bought it all up to push it back:confused: smells fishy

either someones drunk or their bot broke - 9500 to 8750 in on minute

kind of a bummer -- invalidates all patterns now :twisted:
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We might not go up right now because many people will be reluctant to buy as they will wait and see what's going on. So more people selling and taking profit. Also others will just be hearing about this and might want to take profit. Though we do now have a clear path with a thinned out order book all the way to $9500 and it is the weekend.

The interesting thing is the split second jump to $9500 after it was sold all the way to $8750. My theory is it could be stop losses on shorts triggering but only after bots bought BTC when they detected Bitfinex out of sync with other markets. All jumped in at the same time and pushed the price up to which triggered a mini short squeeze as the order book was thinned out.

This move for perspective vs the last weeks action:

yRLXBSxj
 
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lol entire range of last week in one candle minute:crylaugh:

but as bitcoin does -- back to normal and pretending like nothing happened
 
SaiyanZ said:
We might not go up right now because many people will be reluctant to buy as they will wait and see what's going on. So more people selling and taking profit. Also others will just be hearing about this and might want to take profit. Though we do now have a clear path with a thinned out order book all the way to $9500 and it is the weekend.

The interesting thing is the split second jump to $9500 after it was sold all the way to $8750. My theory is it could be stop losses on shorts triggering but only after bots bought BTC when they detected Bitfinex out of sync with other markets. All jumped in at the same time and pushed the price up to which triggered a mini short squeeze as the order book was thinned out.

This move for perspective vs the last weeks action:

yRLXBSxj
Click to expand...

its going straight back up...lol

if this is not clear proof of manipulation then i dont know what is!!!
 
*SynergyX* said:
its going straight back up...lol

if this is not clear proof of manipulation then i dont know what is!!!
Click to expand...

Think there will be plenty of noise about this move. Biggest swing for a while. Most day traders would have got wrecked unless they were in cash and were waiting to buy for lower. But because this happened just after a $200 spike up I think most would have just bought.
 
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