Longs vs shorts 12:1. No way it can sustain this. Each small push is just shorts liquidating amongst low volumes. It's majorly overbought and if that guy gets liquidated (he's still not appearing to be closing his position) we might see sub $6k.
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Bitcoin Thread
- Thread starter Dan C
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Underwater Bitfinex Bitcoin Whale Now Nearly $7 Million in Profit
A Bitcoin whale on the popular cryptocurrency margin trading platform Bitfinex who just weeks ago was underwater to the tune of $25 million, is now
www.newsbtc.com
Howzit, been researching cryptocurrency for a little while, so my understanding of it is pretty barebones and I felt it might be better to come ask here for help.
Where do I start? I know this has probably been asked before, but I'm just curious. I want to invest money into bitcoin, to my understanding, it's better to put some money into it and let it lie for some time before selling it for profit, hopefully.
So basically, where should I buy it, where should I store it and where should I sell it? Thought you guys might have some reliable guides as I've always felt iffy towards it before a guy told me he's living off of bitcoin alone.
Doesn't have to be bitcoin though, I'm open to recommendations and I'm not trying to get rich fast, just thought it would be nice to learn the technology and maybe make a few side bucks.
Where do I start? I know this has probably been asked before, but I'm just curious. I want to invest money into bitcoin, to my understanding, it's better to put some money into it and let it lie for some time before selling it for profit, hopefully.
So basically, where should I buy it, where should I store it and where should I sell it? Thought you guys might have some reliable guides as I've always felt iffy towards it before a guy told me he's living off of bitcoin alone.
Doesn't have to be bitcoin though, I'm open to recommendations and I'm not trying to get rich fast, just thought it would be nice to learn the technology and maybe make a few side bucks.
Hi. You can use Luno or Valr for buying or selling. Valr is much cheaper and if you use a referral link you get 10% off trading fees. Valr is also adding more crypto-currencies. If you intend to store for a while it's better to get your own wallet. Coinomi is a good option for mobile and Exodus for pc. Really if you're holding for a while it may be good to research other coins and pick the ones with potential. People have made more from that than holding Bitcoin.
Wut
Executive Member
Sort of glad I held on to my 3.15 BTC. Enjoying this ride after I almost completely lost interest.
SaiyanZ
Executive Member
I can see it playing out like this for the next few months. Up to around $9400, then back down to somewhere between $7500/$8000, then back to around $9400 before the next major trend begins.
Gtx Gaming
Gtx Gaming
Damn it , EE is offline. Might cash out some dcx10.
Tabac
Honorary Master
Fokit...
Tjoker
Expert Member
what is EE, and what is dcx10?
EDIT : Nevermind - https://blogs.easyequities.co.za/invest-in-the-dcx10-crypto-token
Is it just me or has this pump come out of nowhere? Daily close at this level looks bullish...
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SaiyanZ
Executive Member
It's holding above the fibs for a few hours so looks like another leg up is coming today. There's also a convergence of three resistances at $8820/$8850 today. Chances are this is the target that whales/groups have chosen to pump through. Have seen it many times over the last couple years.
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phly
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I don't think it came out of nowhere - it was expected. Many in the social media space were waiting for it and it is even set to go higher. So I do agree that things are looking bullish.
Also there is some kind of inverse H&S that supports the bullish momentum
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John Tempus
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Careful...
Look at January 7 -> end of January 8.
Have same pump in a day with sideways and then look beyond January 8.
To me this pump looks very similar to that pump so I am still inclined we will see the same $500 dump again.
Could be wrong but history tends to repeat itself more than once before anything real happens.
That along with some huge LONG fees stacking up on Bitmex, thats the problem with sudden spike in longs or shorts, fee accumulation skyrockets and then there is over correction.
Look at January 7 -> end of January 8.
Have same pump in a day with sideways and then look beyond January 8.
To me this pump looks very similar to that pump so I am still inclined we will see the same $500 dump again.
Could be wrong but history tends to repeat itself more than once before anything real happens.
That along with some huge LONG fees stacking up on Bitmex, thats the problem with sudden spike in longs or shorts, fee accumulation skyrockets and then there is over correction.
SaiyanZ
Executive Member
BTC has been quite tame for the last two months with no massive one-sided moves. Think a big move is due since people are now too comfortable trading high leverage because the price "always pulls back/retraces". There are probably a load of longs under pressure right now.
So going up right now to $9k+ makes the most sense to me because of the highly leveraged market.
That said, I am closing longs at $8800+ and starting to build up a short position again.
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Still looks like an illusion. The market is negative. Going to dump big.
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