Tjoker
Expert Member
BTC has been so flat.....i want a rocket or blood in the streets...not this flatness...emptiness...
To much to ask for?!
To much to ask for?!
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Bitcoin Thread
- Thread starter Dan C
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SaiyanZ
Executive Member
Yeah it's so dead. I feel like I should start trading $100 moves but I'm afraid that the big move comes just when I start to scalp.
Tjoker
Expert Member
SaiyanZ
Executive Member
BTC seems to be stuck in this range for too long now. I'm done trading here for now and will just wait for a bigger move. Support area is between $7900 and $8000. Will short from just above $9000.
SaiyanZ
Executive Member
Working out so far. Managed to close shorts and long right at the bottom (for now at least) for once.
SaiyanZ
Executive Member
Yeah I didn't have that bottom support drawn out exactly. It still hasn't broken it but touching it like this means the market is weak.
Mortymoose
Honorary Master
Nooit! Okes! Your graphs are not as colourful and descriptive as they once were....... And those descriptions, seriously going to have to reconsider visiting this here thread! 
SaiyanZ
Executive Member
Bounced from around the expected level after what seems to be accumulation. There are most likely a lot of stops around $7600/$7700 region by now so if we go down there it will be a massacre and we probably will go straight to $7k.
In this market it's probably best to be prepared for a big move up or down and don't go in too hard on one price. I don't day trade much anymore and just wait for bigger moves with smaller positions. eg. 1% of balance on cross (100x) and wait to be at least $300 move in profit. If that position goes under then I add another 1% to it at an appropriate level and wait for that position to be at least $200 in profit before closing that portion of the total position. If that also doesn't work out I add 1% again and take profit if that position is at least $100 in profit.
This way my average buy-in keeps moving towards the current price and I still keep improving my position if I'm far under whilst also taking less risk the further under I am. Doing this on two accounts, one for shorts and one for longs. I also don't place limit orders to close positions anymore. I wait for the price to go past my target and then place a stop loss in profit and keep moving it with the price to make the most out of a big move.
In this market it's probably best to be prepared for a big move up or down and don't go in too hard on one price. I don't day trade much anymore and just wait for bigger moves with smaller positions. eg. 1% of balance on cross (100x) and wait to be at least $300 move in profit. If that position goes under then I add another 1% to it at an appropriate level and wait for that position to be at least $200 in profit before closing that portion of the total position. If that also doesn't work out I add 1% again and take profit if that position is at least $100 in profit.
This way my average buy-in keeps moving towards the current price and I still keep improving my position if I'm far under whilst also taking less risk the further under I am. Doing this on two accounts, one for shorts and one for longs. I also don't place limit orders to close positions anymore. I wait for the price to go past my target and then place a stop loss in profit and keep moving it with the price to make the most out of a big move.
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acidrain
Executive Member
Was expecting a movement only in a another day or 2 but not going to complain about an early dump.
Closed in profit and now just going to wait this move out before deciding on a direction.
Closed in profit and now just going to wait this move out before deciding on a direction.
SaiyanZ
Executive Member
I've closed all shorts for now and am slowly building up a long and taking partial profit on decent bounces. Will short again as a hedge only above $8000. Liquidation on my long account is currently around $5800 but I should only get in trouble if it goes straight down without any decent bounces.
acidrain
Executive Member
Going to go with my gut and stagger long orders towards the exit price of the below triangle which would be around 6900, starting a long at 7200 and every 100 down until 6900.
Been following the triangle quite well so hopefully the exit price will hit. If not then no biggy.
Been following the triangle quite well so hopefully the exit price will hit. If not then no biggy.
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