Bitcoin Enthusiasts

If you look here in the "Crypto Craft" forums there are plenty of news stories everyday that serve as fundamental indicators for Bitcoin. The US stimulus package news yesterday and today was prob the biggest one though.

OK. Thank you.

Is like a well known short TV show called boerse vor acht.
Comes short before the news show Tagesschau.
It is such creative what are named for the move on the Dax and behind you see the chart and clear structures in price movements, but wait it is all about the overall economic news. I can trade well a chart with technical analysis would never trade that way alone with fundamentals that can be build illusions.

Have you heard of or read "Sein und Zeit" by Heidegger? That's the perspective I try to take with trading. Everything balanced and using a universal, broader approach that includes a mixture of fundamentals and technicals.

Bitcoin update:

-13 million longs liquidated today vs over 200 million shorts.

-Bitcoin sitting at #8 for top assets by market cap in the world

-MicroStrategy purchases another 15 million worth of bitcoin, adding to its total which leads the world in bitcoin treasuries

Interesting article which suggests a near term bitcoin cap. If you're short sentiment on bitcoin you may like this:


https://cointelegraph.com/news/bitco...stance-cluster

This chart suggests the realized cap of bitcoin short term HODLers is currently at 82%. The last macro tops were accompanied by more than 95% of realized cap belonging to HOLDers of less than 6 months.

Michael Saylor from MicroStrategy was just interviewed by Bitboy on youtube.......the interview was surprising even to me. Check it out below:

Who has also experienced that? it is a live account!

Pivoter, I saw that to in my broker ICMarkets but strange thing is I had several open trades with TP 53000 and 54000 but it didn't take that. So, not sure exactly what the spike mean.

Can be that huge orders are hit and result as the spikes you see. Not clear how fundamentals will you secure in these points. I have the same with my btc broker and got message from about these fact. It was to keep things transparent. I mean if a instrument change in one day such a range, a range up to double number percent how tight can be the liquidation price? Or you ignore that fact and take it as given here.

Hi Ll1979, I'm just looking for a charting solution. Not sure about trading it, demo would be just fine. The compare website says forex.com, which I now use, has crypto but I couldn't see it on their website or platform. Support line was too busy.

Meanwhile, my first dabble in BTC late Feb is up 20%!

Update on Bitcoin:

If you're long on leverage or HODling don't panic, the price is doing its normal retracement through certain Fib levels. Large corrections are normal and healthy for bitcoin.

If you're short on a leveraged trade, be cautious.....

NOTE: Bitcoin does NOT abide by traditional economic models or rules. Bitcoin cannot be modeled on any system the way other investments are, whether it is stocks, bonds, currency, etc.....

Forex and other investments are, as Michael Saylor says, closed systems with proven methods and modalities of analysis to use when trading. By contrast Bitcoin is doing something no investment has ever done before, it does NOT use a closed system, and because of this, technical and fundamental analysis are only accurate to a certain point.

Bitcoin is an oddity in the investment world, the first of its kind, so you can use fundamental and technical analysis, but at some point Bitcoin will defy every system you try to use. I have been asked by many people about Bitcoin strategies, or about the best method to use. The truth is if you are trying to trade bitcoin with any trading method or modality, it will ALWAYS fail at some point. The best we can do is learn as much as we can about the technology behind bitcoin, and about how it works. When we understand its global scope and positioning, we will be prepared to understand its price action.

Normal Fib retracement on the 4 hr and 1 hr. It may go down a bit more to test the 38.2% level fully, as it didn't quite touch the level exactly.

Same thing on daily and weekly. Price could retrace to around 54300 to fully test the 38.2% level.

If price does not go down and touch the 38.2% level, the rally could be continuing up towards the previous high above 61000.

Crypto exchange liquidations account for some of the price drop today.


https://www.cryptocraft.com/news/106...evel-as-over-1

Bitcoin Update:

4hr chart below showing an external retracement of a wave 2, close to the 161.8% Fib level, then bouncing up. 161.8 is the most likely level in a trending market for a wave 3.

*News out of India on Crypto Ban and exchange liquidations continue to force downward pressure.

*Exchange inflows sees large amount over 1 billion dollars, with any leveraged movement becoming significant

*Observe PA for either short fakeout or further bearish move confirmed

*Observe PA for any sign of continuing rally

*US Stimulus mitigating downward movement, with steady buying.

Second part of Bitboy's youtube interview with Michael Saylor. Including the following highlights:


-Saylor explains that the halving is irrelevant in terms of being able to buy bitcoin, its just a number
-Saylor explains how the 21 million supply is perceived vs the true nature of its actualized fractionality


*This video dispels many of the myths circulating around Bitcoin*

For anyone interested in a quick rundown of bitcoin basics:

-Because 1 bitcoin is fractioned into 100,000,000 Satoshis, and because anyone can buy fractions of a bitcoin, as the price increases it becomes easier to buy bitcoin, not harder.

-As Michael Saylor explained in his interview with Bitboy, dividing the current market cap of bitcoin by the available supply gives the price of one bitcoin. This is not the only thing which influences the price, but it is a quick way to calculate the price.

-Bitcoin is deflationary. When comparing it against the US dollar and most other world currencies, everything else tends toward inflation. As such, the price will continue to go up as more people invest and/or use bitcoin.

Watch the video above and see Michael Saylor attempting to explain this several times to Bitboy, who has one of the largest Bitcoin channels on youtube, but Bitboy is at a loss to understand some very basic bitcoin principles. It is for this and many other reasons that I have created this thread. With a hope that more traders will be educated when discussing and investing/trading bitcoin.

Great video on BTC & NFTs. 15:45 - "It's outperforming every asset class on earth.... it makes everything else look pointless"

My feelings exactly, still early and still so much upside.