Bitcoin Thread

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Seems to be making a wedge now. If so it's close to the low and this is a decent area to get in. I've bought again now as the price is at a low so risk vs reward is ok. Expect it to break out late tomorrow or early Thursday. There is also a small possibility of this being a much bigger move with a breakout to around $6650.

IsIRDZmo
 
And he's at it again. Hundreds of small 0.008855 transactions that could possibly drive it down further.
 
Tether lost another 1.5%. Bitfinix now trading at $200 above.
 
Still looking ok. Can break out at any time but the highest probability zone is around midnight tonight. The diagonal resistances intersect with $6300 around this time. Then will have to watch and see what happens at $6375. I think there's a good chance of it breaking as well on this 3rd (4th?) attempt.

82fdPAbp


Edit: This is no longer valid. The key $6200 support fell and BTC has now made the first lower low after a few months. So it's no longer safe to hold as this move below should result in more selling for a while. I expect there to be heavy resistance at $6200 now.

obFriLTG
 
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Chances are we stay below the purple line for a few days. The fib resistance is also at $6210 which is being tested now.

P5IHCZ5c


Edit: There's also another trendline in play now:

phaM4LAf
 
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Zoomed out, BTC is in pretty dangerous territory now. It's testing the trendline from June which is the last major support. Today's move could be the start of a much larger downwards trend. Just like the move in mid October but Tether manipulation saved the day that time.

qOn22SBV


Edit: $6100 also broke now. Expect this to be another major resistance level.
 
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WTF is going on with Bitcoin? Havent been keeping up to date but just checked out my Luno now...whuuut
 
SaiyanZ said:
Chances are we stay below the purple line for a few days. The fib resistance is also at $6210 which is being tested now.

P5IHCZ5c


Edit: There's also another trendline in play now:

phaM4LAf
Click to expand...
What's with the rainbow in the background. Does it serve a purpose? It makes the charts way to noisy for me.
 
rietrot said:
What's with the rainbow in the background. Does it serve a purpose? It makes the charts way to noisy for me.
Click to expand...

That's just the default colours for the fib levels to show where there's possible support or resistance. Never really bothered to check how to change it.
 
SaiyanZ said:
That's just the default colours for the fib levels to show where there's possible support or resistance. Never really bothered to check how to change it.
Click to expand...
Double-click the fib on your chart and change the settings. It does make it difficult to look at the chart if you don't know what it is. Can leave the lines on and turn the background color off.
 
Interesting how the market has changed over the year. The volume on Bitstamp is now way more than Bitifinex. Even Coinbase has had more volume than Bitfinex with this move.
 
Looks like market manipulation, massive volume bursts on bitmex
 
I'm proud to say that I did call that BTC bottom to the dot (5518). Patting myself at the back big time. Unfortunately i was not in any trade, but to see BTC respect my chart - mad props..
 
Ah the ghost of bitcoin past. Today reminds me of the good times we had last year.

BUY BUY BUY!!! SELL SELL SELL!!! BUY BUY BUY!!!
 
Knyro said:
Ah the ghost of bitcoin past. Today reminds me of the good times we had last year.

BUY BUY BUY!!! SELL SELL SELL!!! BUY BUY BUY!!!
Click to expand...

Yeah quick money just like old times. I've made some cash but now I'll sit back and watch. Best not to get greedy in times like this.

Chances are we won't get above $5770 again which was the previous low for the year on Bitstamp. Given that it's hovering just below, we'll probably make a bear flag here and drop lower.

v1aW1Vkl


Also, total placed sell orders on Luno, within 30% of the current price, currently outnumber total placed buy orders by 3 to 1. Pretty precarious position when the ratio is this low.


The target for this is around $5200:

1Rms4U87
 
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petum said:
I'm with you here... My wife wants to kick my ass.... What to do.....
Click to expand...
Sit tight... you have lost nothing unless you sell now. It will turn.

I was major busy today and missed the "signs". Only saw an hour ago I also took a dive. Just don't get emotional. Actually takes some stress off me, gives me time to sort other stuff out without having to watch the market 24/7 for a few days.
 
RaptorSA said:
WTF is going on with Bitcoin? Havent been keeping up to date but just checked out my Luno now...whuuut
Click to expand...
Rumours of a long squeeze have been floating around for a few weeks now.
 
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