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-   -   Trading Bitcoin with Trend lines and S/R (https://www.cryptocraft.com/showthread.php?t=934512)

YellowFellow Jul 21, 2019 7:08am | Post# 1

Trading Bitcoin with Trend lines and S/R
 
Strategy:

 

  1. Detect and Lower Highs, Lower Lows and Likes.
  2. Trade trend lines on different TFs


YellowFellow Jul 21, 2019 7:10am | Post# 2

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Lower highs and lower lows, currently short with SLs not too far..
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TudorIoan Jul 21, 2019 9:02am | Post# 3

Great job!
Just sell the tops and never buy the bottoms on bitcoin!

g-force Jul 23, 2019 11:42am | Post# 4

Lower highs and lower lows, currently short with SLs not too far.. {image}
Do you have a target TP or range to TP? You are very right about the current trend down so maybe it is not important to set the target until we lose the trend.

YellowFellow Jul 31, 2019 1:40pm | Post# 5

{quote} Do you have a target TP or range to TP? You are very right about the current trend down so maybe it is not important to set the target until we lose the trend.
Apologies for replying so late.. I messed up a lot this month.. kinda lost and haven't slept well..

cityRat Jul 31, 2019 2:10pm | Post# 6

{quote} Apologies for replying so late.. I messed up a lot this month.. kinda lost and haven't slept well..
We've all been there my friend. Good luck getting back on that horse.

g-force Jul 31, 2019 2:38pm | Post# 7

{quote} Apologies for replying so late.. I messed up a lot this month.. kinda lost and haven't slept well..
Ah sorry to hear that man. I thought you would've made out like a bandit shorting BTC earlier in the month.

YellowFellow Aug 1, 2019 2:08pm | Post# 8

{quote} Ah sorry to hear that man. I thought you would've made out like a bandit shorting BTC earlier in the month.
I've been improving lately... improved a lot.. but still a far cry from holding position to ride a simple rally..

g-force Aug 1, 2019 3:07pm | Post# 9

{quote} I've been improving lately... improved a lot.. but still a far cry from holding position to ride a simple rally..
Good to hear man. Progress makes the struggle worth it. Nothing is more joyful for me than the feeling of progress.

Ale1xandra Aug 3, 2019 4:47am | Post# 10

Lower highs and lower lows, currently short with SLs not too far.. {image}
At least it seems the only way to trade bitcoin in technical analysis...

MzansiObi Aug 3, 2019 11:04pm | Post# 11

This seems interesting.........will definately keep popping by.
Still trying to figure out it's correlation with rsk appetite/general market psychology......hopefully this thread can push on with some more info etc........

DonPato Aug 5, 2019 3:44pm | Post# 12

Hello friends...I'm very new to crypto currencies but not to trading. As I am aware (and I'm sure everyone else is also), markets all have their unique idiosyncrasies. Some lend themselves better to technical trading (like futures or FX) and others more to fundamental trading (like bonds, or commodities).

As you all (and I mean everyone) here have more experience with crypto trading... what is your opinion?

Is crypto more a technical trader's relm or a fundamental trader's relm?

TwoSense Aug 5, 2019 3:52pm | Post# 13

Hello friends...I'm very new to crypto currencies but not to trading. As I am aware (and I'm sure everyone else is also), markets all have their unique idiosyncrasies. Some lend themselves better to technical trading (like futures or FX) and others more to fundamental trading (like bonds, or commodities). As you all (and I mean everyone) here have more experience with crypto trading... what is your opinion? Is crypto more a technical trader's relm or a fundamental trader's relm?
Welcome! The Crypto market is maturing and as it does, it might become more fundamental based. Since it has such big swings, and momentum carries it either up or down for an exaggerated time period, technicals work IMO.

g-force Aug 5, 2019 6:23pm | Post# 14

Yeah, I think technicals play a larger role right now because the asset does not correlate or follow any other markets. Most people can't even say what type of news should make cryptos go up or down. As time goes on that will change though and it is definitely a mix of both. Bitcoin could never have gone from pennies to thousands without the fundamentals.

DonPato Aug 6, 2019 10:02am | Post# 15

Another question if I may...and again I'm sorry to distract...

Again I am unfamiliar with this market so please bear with me...Does anyone here use volume in their trading? If so how do you find the transparency of this data? I ask because I am very familiar with the FX market and know that market is decentralized, thus the volume data is "less" transparent than other markets like the futures market for instance. So is the crypto market also decentralized like the FX market? And if so where does the volume data come from? Anyone know?

Hasher Aug 7, 2019 6:07pm | Post# 16

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Another question if I may...and again I'm sorry to distract... Again I am unfamiliar with this market so please bear with me...Does anyone here use volume in their trading? If so how do you find the transparency of this data? I ask because I am very familiar with the FX market and know that market is decentralized, thus the volume data is "less" transparent than other markets like the futures market for instance. So is the crypto market also decentralized like the FX market? And if so where does the volume data come from? Anyone know?
Most exchanges can provide volume data through their APIs depending how fancy you want to get. Alternatively you can look at BTC transactions as volume, blockchain.com has a nice graph: https://www.blockchain.com/charts/n-transactions

Are you looking for general buy/sell volume or something more specific?
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yg10 Aug 7, 2019 6:34pm | Post# 17

Another question if I may...and again I'm sorry to distract... Again I am unfamiliar with this market so please bear with me...Does anyone here use volume in their trading? If so how do you find the transparency of this data? I ask because I am very familiar with the FX market and know that market is decentralized, thus the volume data is "less" transparent than other markets like the futures market for instance. So is the crypto market also decentralized like the FX market? And if so where does the volume data come from? Anyone know?
Crypto exchanges like Coinbase, Bitfinex, Kraken etc provide data for each trade including price and volume.
Data services CoinMarketCap, Cryptocompare, Cryptowat.ch, ... consolidate this data and provide total volume.

DonPato Aug 7, 2019 6:50pm | Post# 18

{quote} Crypto exchanges like Coinbase, Bitfinex, Kraken etc provide data for each trade including price and volume. Data services CoinMarketCap, Cryptocompare, Cryptowat.ch, ... consolidate this data and provide total volume.
Thank you for this reply. I will need to check further to see where my broker is pulling the volume data from. While I do get a daily volume number I do not see the data you mentioned above... I'll need to check it out further.

DonPato Aug 7, 2019 6:54pm | Post# 19

{quote} Most exchanges can provide volume data through their APIs depending how fancy you want to get. Alternatively you can look at BTC transactions as volume, blockchain.com has a nice graph: https://www.blockchain.com/charts/n-transactions Are you looking for general buy/sell volume or something more specific? {image}
Thank you for your response. I am looking for a little more detailed information. More than just total volume. Time and sales is probably more in line with what I'm looking for. The price and amount (in transaction size) as well as date and time of each transaction. This is what my tools use to generate Delta volume numbers at each price level.

TwoSense Aug 7, 2019 8:34pm | Post# 20

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{quote} Thank you for your response. I am looking for a little more detailed information. More than just total volume. Time and sales is probably more in line with what I'm looking for. The price and amount (in transaction size) as well as date and time of each transaction. This is what my tools use to generate Delta volume numbers at each price level.
Hi DonPato, I'm not sure if this is what you're looking for but maybe it'll help. Coinbase Pro's platform is garbage, but they do display something similar to level 2. On the left side you can see the order book for whatever cross you've selected. On the right side, is the trade history, including size, price, and time. Of course this is only Coinbase users but it's the closest thing that I could think of that matched what you were looking for. I hope this helps! Let me know if you have any questions about the Coinbase Pro platfrom.
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