Bitcoin Thread

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Max I think for this run is around $7800, maybe $8000. It will go up to make people who are shorting now feel some pain and make them doubt their trade. Then down to $7k and below. I think it very unlikely that we will go to $9k from here because buying at the the major trendline from the previous lows was a bit too obvious. I've not been trading for very long but I know that it is never that easy to make money.
 
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L10Yn said:
If you're trading on Binance check out 3Commas lets you simultaneously set sells, trailing profits and stop losses all at once on Binance, really cheap as well. All you have to do is use my referral link https://3commas.io/?c=tc36605m you'll get an extra discount if you do, but either way it's worth checking out
Click to expand...
I ain't giving 3rd-party apps access to exchange API keys.
Don't care how trustworthy they are.

Also: https://mybroadband.co.za/vb/showthread.php/926206-Share-your-crypto-related-referral-links
 
SaiyanZ said:
I expect more down so I'm not going to rush in now. Main reason is that most people think that we are going to bounce here. The fact that we didn't already shows that the price is being held up by those buyers but we will run out of them soon. Hence I think drop to at least $6800 in the short term. Probably to $6500 in reality because I'm guessing most will have stops for their longs at $6800 or below which will trigger a dump.

2014 also paints a picture of what could happen:
Click to expand...

The correlation to the 2014 market is crazy. I just wonder if we will have such a long, slow period of sideways movement as in 2014... If institutional money suddenly have a way to jump in (ETF's etc.) or the Lightning Network is proven a big success in the next 3-6 months, the price could blow up...

I guess we wait patiently to see what happens.

Just difficult to be patient when I am so looking forward to my Lambo /LOL!
 
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balrog said:
The correlation to the 2014 market is crazy. I just wonder if we will have such a long, slow period of sideways movement as in 2014... If institutional money suddenly have a way to jump in (ETF's etc.) or the Lightning Network is proven a big success in the next 3-6 months, the price could blow up...

I guess we wait patiently to see what happens.

Just difficult to be patient when I am so looking forward to my Lambo /LOL!
Click to expand...

The weird thing about the 2014 chart is the volume. It jumped 1000% from $100 to over $1000 without much volume at all. The volume only really picked up after it dropped back down afterwards. Though we are currently in a lower volume period vs the volume during the big move up in Nov/Dec 2017. So that part kind of matches up to the volume profile in 2014 before the major drop (below and to the left of the blue bubble).

npzBcamd
 
*SynergyX* said:
moving that stop to 7.2 for now....

seeing some bullish divergences now that could squeeze the shorts for couple hours...
Click to expand...

well then the couple of hours lasted longer than expected ---- but bearish div also playing out now

/hello there BART!!!
 
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saor said:
I ain't giving 3rd-party apps access to exchange API keys.
Don't care how trustworthy they are.

Also: https://mybroadband.co.za/vb/showthread.php/926206-Share-your-crypto-related-referral-links
Click to expand...

Also took me really long to come around to it but I think the reward outweighs the risk. Also it's no withdrawal access granted so the most they could do is what happened last time with the major API hack where they bought up some random low liquidity coin, it would need to be a major hack again for that to happen. If they get my account alone there's not much profitable things they can do. Also last time Binance handled it quite and they claim hackers actually lost money. Anyway I have most of my holdings on a ledger as well so not much on the exchange. I also use different emails for every account.

The benefits though are crazy, when setting an order I can already set stop losses, take profits, trailing profits etc. When you get those random long wicks trailing profit essentially chases that and sells at the right time. I also think (need to confirm though) that it just actually reserve the BTC when setting orders so I can set random crazy buys on all coins and hope for a flash crash
 
That $7300 area ended up holding. Trying to look a few steps ahead I think we might make a wedge like this:

807AgEjN



Edit: The long term downtrend actually cuts into the wedge so it's more likely that we drop out on the next wave down.

xppGJ6sx



Edit2: I see big buy walls on Luno now. Not sure why though. The Rand is ok and whilst there is a bit of similarity vs the previous bottom there is still massive overhead resistance. We only got through the last time because whales came in and made a $1000 spike.

hexMVqDd
 
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SaiyanZ said:
Something interesting I spotted. Check what happens if you flip the movement at the bottom vs the recent price action at the top. Looks similar.

Essentially the moves are the inverse of each other so we end up making a move down similar to the green line:

rviEbgFl
Click to expand...

Remember the inverse theory from a few weeks ago. Forgot about it but it ended up pretty similar to the 24th where my drawing ended. Now:

XlvhcYLk
 
what times in the world do 7:17, 8:17, 9:17 etc correlate with?



always see movement around the :17th minute of certain hours.
 
It's still jumping around in the wedge. I think still down but watch out for big a breakout from the top though. Only because it managed to hang on for so long (8 hours) whilst riding the support of the wedge. So it's pretty much being being forced to stay up.

mJd7P01n
 
SaiyanZ said:
It's still jumping around in the wedge. I think still down but watch out for big a breakout from the top though. Only because it managed to hang on for so long (8 hours) whilst riding the support of the wedge. So it's pretty much being being forced to stay up.

mJd7P01n
Click to expand...

there is an inverted h&s in that pic if you look closely..... neckline is resistance at 7550is.

if it breaks up 7800 will be easy
 
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