Bitcoin Thread

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epah said:
Looks like you made some nice profits .
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Just paper profits so far as I haven't withdrawn yet. My main focus is selling high and buying low to accumulate more BTC. Aim is to hit my ZAR target and withdraw anything over it weekly whilst continuing to trade with the rest.

Last year I was doing the opposite. Buying low and selling high to increase my ZAR balance slowly but I missed out on all the major uptrends whilst still getting caught on some of the downtrends. So just trading for more BTC seems like a better strategy.
 
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SaiyanZ said:
Just paper profits so far as I haven't withdrawn yet. My main focus is selling high and buying low to accumulate more BTC. Aim is to hit my ZAR target and withdraw anything over it weekly whilst continuing to trade with the rest.
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I do the same thing. I have a daily target of how much I want to make each day . But today everything just seems to be going on slow motion and I haven’t made much. Kinda bummed but everyday is different .

I love this Crypto game. Should have gotten in sooner
 
Looks like that buy wall at $8450 on Bitfinex is what's keeping the price up temporarily. It has been tested a few times so I think it's going to break shortly.
 
Luno has been dead today, sticking in a narrow band while the USD price swings quite wildly! Either South Africans have other stuff to do today or someone is selling and buying big volumes at only a small profit.
 
SaiyanZ said:
Looks like that buy wall at $8450 on Bitfinex is what's keeping the price up temporarily. It has been tested a few times so I think it's going to break shortly.
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i also noticed that, ironically i see now that i sold the has broken hahaha F this....
 
Currently USD price is $8550 but ZAR is R107500. So that's a premium of only 4% compared to 10% yesterday... And lots of big sell orders still. We should be testing R110k but instead we're wallowing at R107k.
 
geez not a day has gone by that businesstech doesnt have a scathing article on crypto, are they like the anticrypto or something?
 
JaseZA said:
Currently USD price is $8550 but ZAR is R107500. So that's a premium of only 4% compared to 10% yesterday... And lots of big sell orders still. We should be testing R110k but instead we're wallowing at R107k.
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I've bought more to resell in the hopes that the premium opens up again,
 
I think Luno price gets stuck at times because we have a lot of passive traders who buy say 5 BTC at R100k and then place a sell order at R108k without really following the price afterwards. This ends up creating resistance and bigger sell walls as others place their orders before them.

Active traders will remove sell orders and place them higher up if the price is climbing fast.
 
epah said:
No. I am too greedy ��
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I've seen a few guys on Tradingview saying we going to $6000 again for a double bottom to end the correction. If true, things should liven up soon.


Edit: If Zuma gets the boot tomorrow I think we might see more strengthening of the Rand. So another percent or two knocked off the Luno price.
 
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