Bitcoin Thread

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Damac10 said:
They pumping again...surprised no major dump in site...
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Depends on what will happen when bitfinex comes back online.

Similar pump occurred just 2 days ago when coinbase went offline.

Kinda weird but its cryptolandia always entertaining. :)
 
Some crazy action the last day or so. Never expected it to keep going so easily past $12k and make a 3rd parabola in a row. Lost a fair bit as I was short so will take break from trading for a little while. Going to add some cash on Luno and wait for a decent dip to buy in again, then transfer to Bitmex. Have to change my trading strategy and start using stop losses.


EiYsoUmm


3z0IhMVL
 
SaiyanZ said:
Some crazy action the last day or so. Never expected it to keep going so easily past $12k and make a 3rd parabola in a row. Lost a fair bit as I was short so will take break from trading for a little while. Going to add some cash on Luno and wait for a decent dip to buy in again, then transfer to Bitmex. Have to change my trading strategy and start using stop losses.


EiYsoUmm


3z0IhMVL
Click to expand...


The runup from 6k to 9k was the first time I started using stop loss/take profit levels since early 2018.

Market conditions changed drastically, I also had to make major adjustments the last month before I resumed full trading.

I am sure the last 2 months specifically caused a lot of headaches for many traders.
 
SaiyanZ said:
Some crazy action the last day or so. Never expected it to keep going so easily past $12k and make a 3rd parabola in a row. Lost a fair bit as I was short so will take break from trading for a little while. Going to add some cash on Luno and wait for a decent dip to buy in again, then transfer to Bitmex. Have to change my trading strategy and start using stop losses.


EiYsoUmm


3z0IhMVL
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Thanks for your insight as always!
Quick question... Why do you transfer to Bitmex from Luno? Arbitrage? Is the offset of the transfer time and cost worth what you gain by selling on a different exchange?
 
carstensdj said:
Thanks for your insight as always!
Quick question... Why do you transfer to Bitmex from Luno? Arbitrage? Is the offset of the transfer time and cost worth what you gain by selling on a different exchange?
Click to expand...

Margintrading on Bitmex.

If you can stay within your own wits its way more lucrative.
 
carstensdj said:
Thanks for your insight as always!
Quick question... Why do you transfer to Bitmex from Luno? Arbitrage? Is the offset of the transfer time and cost worth what you gain by selling on a different exchange?
Click to expand...

Bitmex has leveraged trading. A lot more risky but way more rewarding. So can build up a Bitcoin stack quickly with a few good trades.
 
carstensdj said:
Been trading intermittently since 2016... I know about getting rekt...
Just a lot of the fundamentals that I don't fully understand so prefer to ask
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If there is any advice I could give when margin trading in order to stay safe specially in the current bull swing market is to ensure low enough leverage ie. no more than 20x and keep your open positions entry/exit time frames as short as possible.

For myself I don't feel safe at all with current market conditions to keep trades open over night. All my entry/exit trading scalps last between 30-60mins at this point.

If you need to do longer duration trades dont go over 5x leverage, 5x leverage would be enough to avoid getting liquidated at the most extreme times since I just don't see any period of ~18% price swing against your trade before you will be able to catch it. With current market conditions I completely see a chance of even 10% price swing happening within just a few hours so an extended open position of even 10x leverage is not very safe without constant monitoring.
 
carstensdj said:
Been trading intermittently since 2016... I know about getting rekt...
Just a lot of the fundamentals that I don't fully understand so prefer to ask
Click to expand...
Been wanting to dip my toes into leverage trading but it's scary. Would love a thread where the OG's can give us the basics if willing.

Ideally I'd like to catch btc on the way down shorting it.
 
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Just broke 13k. According to the TA guys I follow the target of the year long descending triangle break out is around 13 300. Might be where we see the correction. Tempted to sell but man this move up just looks to have so much momentum.
 
Market kinda lost its mind over on binance leading the charge.

This would be a spectacular blowout either direction as soon as the big boys decide to take profit the moment volume starts to simmer down.

The daily cycle for those periods is usually from around 12am our time so if the volume does not simmer down and people are able to take big profits without affecting the price much we are in for one hell of a ride heading to month end.

Just for reference when Bitmex tried to catch up it triggered a $50million 1minute candle o_0 and right now Bitmex 24hr volume is over $10billion. This might be the rapid ride up with an even more spectacular correction but the market is looking so resilient I don't even know if it even knows what a correction is anymore.
 
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