Bitcoin Thread

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If we touch 3630 I will be mighty surprised. The thought crossed my mind today we could go up and even touch 3600 range but at the time it seemed impossible (was looking at probabilities) or just too far and bitcoin had to pull out a mega move to get that high but it seems it is very much possible now. All it needs now is just to wick and we there. My only regret is not getting into alts waiting for one last dip from BTC.
 
phly said:
If we touch 3630 I will be mighty surprised. The thought crossed my mind today we could go up and even touch 3600 range but at the time it seemed impossible (was looking at probabilities) or just too far and bitcoin had to pull out a mega move to get that high but it seems it is very much possible now. All it needs now is just to wick and we there. My only regret is not getting into alts waiting for one last dip from BTC.
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Looking at the long/short flip we are more likely to end this week around $3750-$3850 range than dropping back down to $3200. There is massive momentum with Longs pushing to break 55% majority which would be the first time happening on either long/short in over a month in fact I havn't seen it in probably 2 months.
 
John Tempus said:
Looking at the long/short flip we are more likely to end this week around $3750-$3850 range than dropping back down to $3200. There is massive momentum with Longs pushing to break 55% majority which would be the first time happening on either long/short in over a month in fact I havn't seen it in probably 2 months.
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I wouldn't be surprised. The way bulls woke up, I can almost predict there will be a bitcoin article on my myBB tomorrow or the day after latest. Question is though - is the bottom in - are we done with 3200 for good?
 
phly said:
I wouldn't be surprised. The way bulls woke up, I can almost predict there will be a bitcoin article on my myBB tomorrow or the day after latest. Question is though - is the bottom in - are we done with 3200 for good?
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Hahaha I hope not. They seem to publish articles just as things turn south. If they do publish an article prepare some shorts as an emergency. :)
 
Ah - some nice scalping. Saw an opportunity and decided to throw some play satoshi at it. Put in 0.09 BTC (9 mil sat) and traded up to 0.25 BTC (25 mil sat) in 3-4 weeks. Opportunities everywhere - even in Bear markets...
 
phly said:
I wouldn't be surprised. The way bulls woke up, I can almost predict there will be a bitcoin article on my myBB tomorrow or the day after latest. Question is though - is the bottom in - are we done with 3200 for good?
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I doubt it's the bottom. We're clearly back above the trendlines again like last time but it did't last long previously. The moves are similar so far so I think we could go up to around $3800 before falling again. $3800 was where there last major move down started.

kEGCeCsR
 
SaiyanZ said:
I doubt it's the bottom. We're clearly back above the trendlines again like last time but it did't last long previously. The moves are similar so far so I think we could go up to around $3800 before falling again. $3800 was where there last major move down started.

kEGCeCsR
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What about that resistance?

Edit :

On Daily :
fCBd5239


On 4HR
iDlDeeFP
 
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Yeah there's resistance at $3600. Similar to $4100 resistance the previous time where it broke up to $4400. The pink lines are equivalent. Not a sure thing but it's possible.


BICxwuNC


Edit: Also check out this fractal from a guy on Tradingview. Move to $3600 was spot on with ultimate target of around $3800. This was the April low which started a move to $10k. Don't know if that can happen now. It would mean we eventually get back to around $5800 without much pullback on the way up before falling again. People who short with leverage on the way up would keep getting wrecked like they did in April.

vLTPqwgS
 
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Bitfinix still trading $100 above the rest.
 
Swa said:
Bitfinix still trading $100 above the rest.
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Yep, something not right over at Bitfinex with the consistent above market trading spread. This makes me think people are moving their coins out of Bitfinex due to continuous issues with fiat withdrawal similar to the Mtgox days when Mtgox were trading initially consistently $100 higher than other exchanges and slowly the gap widened.

I would suggest to anyone with funds on Bitfinex to get their funds out of Bitfinex until Bitfinex spread gets back to market rate.
 
Seems to be still on for a target around $3750/$3800. Making an ascending triangle below the resistance. The next move to $3550 has to push further up and break though otherwise it will lose its shape.

4wdSblmu
 
Target zone roughly hit. It's up around 18% in two days now so we'll probably have some sideways or a pullback to $3600 now.

Wx53PFFh


I finally closed my long position after holding for over a week. Back to doing the small trades and will be looking to short.
 
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Holy bejesus look at the Long stacking for Bitmex. Either some one is playing a huge con or we will be seeing explosive diarrhoea at some point today with a green dildo.

If that is all mostly manipulation of intent we might see a sideways day but if that is genuine I recon we have a serious chance of breaking 3900 or possibly even 4000 today.
 

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SaiyanZ said:
Target zone roughly hit. It's up around 18% in two days now so we'll probably have some sideways or a pullback to $3600 now.

Wx53PFFh


I finally closed my long position after holding for over a week. Back to doing the small trades and will be looking to short.
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Very nicely done. My shorts got stopped out :(
Watching for a better entry
 
John Tempus said:
Holy bejesus look at the Long stacking for Bitmex. Either some one is playing a huge con or we will be seeing explosive diarrhoea at some point today with a green dildo.

If that is all mostly manipulation of intent we might see a sideways day but if that is genuine I recon we have a serious chance of breaking 3900 or possibly even 4000 today.
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If i was a market maker... I would be toying with people's emotions. Shorts are getting high so I reverse things and show bullish form. Forcing shorts to close (shorters would want to maximize profits and ride the trend up) and lure in the money of those still watching by the sidelines eager to find an entry and long. So I would make people think the bottom is in so its time for them to long. Everyone is probably looking for 3800 to break to I push it past that and to 4300 territory. Just to lure the final die hards and then ... dump it back down to 3k screwing the former shorters and liquidating longs or forcing them to close.

If I was a market maker ... :sneaky:
 
phly said:
If i was a market maker... I would be toying with people's emotions. Shorts are getting high so I reverse things and show bullish form. Forcing shorts to close (shorters would want to maximize profits and ride the trend up) and lure in the money of those still watching by the sidelines eager to find an entry and long. So I would make people think the bottom is in so its time for them to long. Everyone is probably looking for 3800 to break to I push it past that and to 4300 territory. Just to lure the final die hards and then ... dump it back down to 3k screwing the former shorters and liquidating longs or forcing them to close.

If I was a market maker ... :sneaky:
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This happens from time to time in the low millions in either direction during market passiveness but in recent memory this year I have not seen such bullish longs accumulating.

If it is a manipulation move someone is risking a lot , too much with chance of it backfiring on them self so I opt to see this data as more legit than false positives.
 
Time reveals all things. I got swallowed shorting by that wicked candle the other day then got run over 2nd time round due to revenge trading. Now I am just nursing my wounds watching from the sidelines waiting to see what happens next.
 
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