Bitcoin Thread

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My view is that if Tether goes, all the exchanges that use Tether will go down with it. Doesn't matter whether you use Tether itself or not, if you use an exchange that uses Tether you'll go with them.

Its a risk associated with being in crypto at all.
 
Cicero said:
My view is that if Tether goes, all the exchanges that use Tether will go down with it. Doesn't matter whether you use Tether itself or not, if you use an exchange that uses Tether you'll go with them.

Its a risk associated with being in crypto at all.
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I share that same view.
 
Looking fairly similar so far. This last move up also seems like that orange region. So watch for the spike up to $6800 again and then dump to $6300/$6400.

pkxNheSz
 
Cicero said:
My view is that if Tether goes, all the exchanges that use Tether will go down with it. Doesn't matter whether you use Tether itself or not, if you use an exchange that uses Tether you'll go with them.

Its a risk associated with being in crypto at all.
Click to expand...


What is meant by if "Tether goes"?
 
stoymigo said:
What is meant by if "Tether goes"?
Click to expand...

If Tether isn't actually backed by real USD 1:1 as they claim, and no audit has been allowed to prove it, and they are being investigated in the US by the DOJ according to the news (not surprising), and it becomes known that it's all a lie, **** will hit the fan definitely for some and many people will lose money who are holding feathers I mean tethers.

Places like coinmarketcap (which everyone quotes) are including the tether pair in their market cap valuations so if tether crashes it will effect the entire crypto community in several negative ways; we'll have to wait and see...

Also, read the links I posted on the previous page etc...

Anyway let's get back to TA ;)
 
broadone said:
https://medium.com/@tradingroomapp/...rrency-why-we-are-sold-that-myth-c93964e966d5

https://medium.com/@tradingroomapp/confession-of-a-market-maker-fictional-story-1b73cbd9550c
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They're making the mistake of thinking that crypto will be kept rather than converted into a base currency. In fact most cross border transactions are already conversions so that can't form part of the argument. The real problem is network limits and transaction costs. Once we have solutions to that (lightning is only a first step) crypto will take off, increase in value, and become less volatile.
 
Zooming out it's up against some heavy resistance in the next couple days. Unlikely to break above $7k without major volume and buyers. Looks like this push has run out of steam so no reason for buyers to suddenly come in now. So pretty much going to go down. I think the main reason we don't drop fast is because of people/bots with big money trading shorts for small margins.

If $6k breaks the next major support is around $4.9k.

RR94I83y
 
These are my actual trades in the last month. No shorting because it's dangerous and also because I trade on Luno. So these are times I bought and sold on Luno. Didn't trade much at all recently. Only 6 trades totaling around 20% profit.

- One loss of about 1% in the red bubble where it looked like it was spiking up out of a triangle. I quickly got back out with the loss.
- 4 times I made profit off descending wedges (yellow bubbles)
- One time I was just watching and it spiked $400 (the blue bubble) so I quickly bought and sold
- Last trade was the orange bubble where I bought as it seemed like the triangle would break up based on fractal.

So good month overall to make over 20% in a downtrend without shorting. Also wedges are a good source of profit.

nEwzFNIF
 
SaiyanZ said:
These are my actual trades in the last month. No shorting because it's dangerous and also because I trade on Luno. So these are times I bought and sold on Luno. Didn't trade much at all recently. Only 6 trades totaling around 20% profit.

- One loss of about 1% in the red bubble where it looked like it was spiking up out of a triangle. I quickly got back out with the loss.
- 4 times I made profit off descending wedges (yellow bubbles)
- One time I was just watching and it spiked $400 (the blue bubble) so I quickly bought and sold
- Last trade was the orange bubble where I bought as it seemed like the triangle would break up based on fractal.

So good month overall to make over 20% in a downtrend without shorting. Also wedges are a good source of profit.

nEwzFNIF
Click to expand...


Thanks for sharing your wedge strategy, good timing, proves one can still make money in a bear market without shorting if one gets the timing right...

This last month I got bored with btc (waiting for it to drop more) and been watching one of the alt coins more closely, only made one trade though for 1% gain.
If you can't be watching on the computer for extended periods it's too easy to miss out on the moves upwards; happened a number of times when I was in traffic and missed out :(
 
Shorters got hit a bit again. My gut feel is that once people become afraid to short this whole thing is going to be dumped hard to $6k. Also think that there will be an attempt to dump tonight just after 6pm. There was an attempt made last night but it didn't go too far. The pump up from $6400 also happened on the previous day just after 6pm.

Though a lot of buying will keep coming from people who cannot afford to miss the bottom. People who rode BTC most of the way down from above $9k and are trying to make up losses. So this buying should hold the price for a while.


Edit: 4x resistance just overhead. So pretty risky area to buy. Don't know when last there was an intersection of so many resistance lines.

NOoaNa9B
 
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https://www.tradingview.com/x/2oJvLNQM/

Up 1.5% the past 45 minutes, strength declining now, people taking profits.

An attempt was made to push and close it out of the triangle but failed.

55ema held as support for now.

Could drop to $6.4k if it falls out of the trend line...
Bullish side - strong resistance to close above $6800...
Expect a drop if no more buyers come in.


Just for interest sake ETC did about 4% gain from this morning and unrelated to recent BTC push.
 
https://medium.com/@bitfinexed/unde...uld-disregard-fakeusd-prices-and-c0933c72e3e5

You’re simply trading USD accounting entries of a company that does not actually have legal ownership of those USD.
So, you may ask which exchanges have real banking and real USD?

Simple.

Bitstamp
Gemini
GDAX
Kraken

That’s it. That’s your USD volume. The rest of the exchanges that show “USD” trading are tantamount to Clarence Dollars.
 
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