Bitcoin Thread

Status
Not open for further replies.
I'm in cash again. Didn't expect a drop again so soon after yesterday's rebound with big buy volume. So market is looking a little fragile to me right now. Can still go up but doesn't seem as strong anymore so not worth the risk to me.

The Rand is also strengthening so it's moving against my trade.
 
11k BTC buy wall on Bitfinex. People putting down about $85mill.

Untitled.jpg

Edit: 18k now. So $140mill
 
Last edited:
Countcrypto said:
News : Northern trust managing over 10 trillion dollars opens doors to crypto. No link to article, just posted in telegram group.
Click to expand...

Could be them. I also saw an invisible order on Bitfinex last night at $7670 which was probably the 18k BTC order I mentioned above. People threw about 2k BTC at it before giving up. It was removed when the price came down again 2 hours later.
 
We will most likely go up first but not sure how far. We just bounced off the tob of the big triangle from months back. Key is just to break $7670 and hold which should be possible today with power from the steep wedge that just formed.

7fykT5zD


Wedge:

gNNzPpLK
 
SaiyanZ said:
Could be them. I also saw an invisible order on Bitfinex last night at $7670 which was probably the 18k BTC order I mentioned above. People threw about 2k BTC at it before giving up. It was removed when the price came down again 2 hours later.
Click to expand...
What I found odd was some other altcoin trade I was looking at last night (ICON) there was also a 15 BTC buy wall that randomly popped up. Sometimes those are fake orders but it got to the top of the order book and people were unloading into it without it being removed. Eventually price went up and it just stayed there. Strange.
 
saor said:
What I found odd was some other altcoin trade I was looking at last night (ICON) there was also a 15 BTC buy wall that randomly popped up. Sometimes those are fake orders but it got to the top of the order book and people were unloading into it without it being removed. Eventually price went up and it just stayed there. Strange.
Click to expand...

Well if you've got a 10k BTC order the only way to really fill it is by hiding it until everyone either gives up trying to break it or it gets filled. People love trading against it because you get maker fees if you trade vs a hidden order. Hidden orders always get taker fees. So it starts a selling/buying frenzy once people know there is a hidden order. Yesterday's one was just too big to break through. There is still big money trying to get in right now. Just a matter of when.
 
Last edited:
SaiyanZ said:
Well if you've got a 10k BTC order the only way to really fill it is by hiding it until everyone either gives up trying to break it or it gets filled. People love trading against it because you get maker fees if you trade vs a hidden order. Hidden orders always get taker fees. So it starts a selling/buying frenzy once people know there is a hidden order. Yesterday's one was just too big to break through. There is still big money waiting trying to get in right now. Just a matter of when.
Click to expand...
I bought in front of it and put a stop behind it :p.
 
Just wondering: In an order book where there's a bid/ask entry made of multiple people's orders - are those orders filled in the order they were placed? So for example the bid order of 7542.73 (at the top) is made of mutiple peoples orders - is that order filled in the order it was placed? I'm assuming it is. Checking.

Clipboard01.png
 
Last edited:
saor said:
Just wondering: In an order book where there's a bid/ask entry made of multiple people's orders - are those orders filled in the order they were placed? So for example the bid order of 7542.73 (at the top) is made of mutiple peoples orders - is that order filled in the order it was placed? I'm assuming it is. Checking.

View attachment 541675
Click to expand...

Yeah it should be first placed, first filled. That's how luno works. Should apply everywhere.
 
BTC daily chart.

That potential descending wedge (shown in dotted red).
Wonder how that's gonna play out - whether it's going to bottom again or manage to break out.

6SAF7l4.png
 
Volume for the last few hours seems to have dropped off to almost nothing. A bit odd given that it's midday in the US and also midweek. There were just a few spikes here and there which seems to be short and long covering.
 
The rand lost 2% vs the dollar in the last few hours. Just broke R13.50. Was R13.24 in the morning. Luno BTC price shouldn't drop much today unless there is a massive dump again below $7500.

Edit: Either that or we might have too many local traders who don't monitor the exchange rate.
 
Last edited:
Status
Not open for further replies.
Back
Top
Sign up to the MyBroadband newsletter
X