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Bitcoin technical analysis

  • #5,761
  • Edited 3:17pm Dec 8, 2017 2:59pm | Edited 3:17pm
Quoting mag00
{quote} I think we have already arrived ... (third wave is composed: end first wave) P.S. here the template ... {image} {file}
Btc (m30) ... in bull market

inside an AbC correction : within b5 wave (TP 16185)

waiting for the a(c)wave @16185 (TP Cwaves ... 12770 = a(c)+b(c)+c(c) waves)
(new wave if the hidden UPdivergence is respected or a double one : a(a) + ...+ c(c)= Awave inside an AbC correction)

P.S.
in the previous correction the C waves did not go to target
(they were stopped before)
... blue arrows waiting ...
about template (post 5628) ... indi (repaint ... unfortunately) parameters:34,2,55,34,1.618 (5 size)
Attached Image (click to enlarge)
Click to Enlarge Name: Btc (m30).png Size: 53 KB
... panta rei ... (Heraclitus of Ephesus, 535-475 BC)
  • #5,762
  • Dec 8, 2017 8:23pm Dec 8, 2017 8:23pm
Just noticed that ICMarkets have changed their Bitcoin CFD to "Close Only" mode, so no more buying!

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 41 KB


Anyone else's broker done the same? Pepperstone still allows trading.
  • #5,763
  • Dec 8, 2017 9:42pm Dec 8, 2017 9:42pm
Quoting BSFilter
Just noticed that ICMarkets have changed their Bitcoin CFD to "Close Only" mode, so no more buying! {image} Anyone else's broker done the same? Pepperstone still allows trading.
mbrown mentioned something about this in his post yesterday https://www.forexfactory.com/showthr...5#post10572455

Think Markets still allowing trading, just the spread is horrible at 7,500 today.
  • #5,764
  • Dec 8, 2017 9:58pm Dec 8, 2017 9:58pm
Quoting Vitallica
{quote} mbrown mentioned something about this in his post yesterday https://www.forexfactory.com/showthr...5#post10572455 Think Markets still allowing trading, just the spread is horrible at 7,500 today.

Ahhh, thanks Vitallica, missed that post. I have an ICMarkets live account but we received no notification about them closing BTC trading (though that's not unusual for them!)

Interesting times ahead!!

For the record, I don't trade BTC, just standing by eating popcorn waiting for the inevitable collapse. Tulip anyone?
  • #5,765
  • Dec 8, 2017 10:08pm Dec 8, 2017 10:08pm
Checkout the 24 hour USD gains on the other crypto-curencies on the Bitfinex dashboard (www.bitfinex.com); LTC at 45%!, IOTA at 39%! BTC is the only one down today.
  • #5,766
  • Dec 8, 2017 10:15pm Dec 8, 2017 10:15pm
Yup, huge flows out to the ALTs today
  • #5,767
  • Dec 8, 2017 11:40pm Dec 8, 2017 11:40pm
Quoting BSFilter
Yup, huge flows out to the ALTs today
Everybody must be going long now, Think Markets have just suspended new long positions on all crypto-currencies (shorts still available though!).

The funny thing is the exchanges are allowing people to do inter-crypto-currency purchases, but all deposit and withdrawal requests indicate that the wait time will be the maximum number of days on the terms and conditions.

I suppose nobody involved in the frenzy has tried to withdraw USD yet....
Attached Image
  • #5,768
  • Dec 8, 2017 11:56pm Dec 8, 2017 11:56pm
Attached Image
  • #5,769
  • Dec 9, 2017 12:02am Dec 9, 2017 12:02am
Quoting Vitallica
{quote} Everybody must be going long now, Think Markets have just suspended new long positions on all crypto-currencies (shorts still available though!).
That's a good thing for bulls isn't it? A broker will only suspend a position if they feel that they cannot take any more such bets against them anymore.

I'm not sure, correct me if I'm wrong...
  • #5,770
  • Dec 9, 2017 12:14am Dec 9, 2017 12:14am
Bitcoin bound to collapse one day. When mkt starts taking profit, all switch to sell. Brokers r making a killing on spread. I still short till today.
  • #5,771
  • Dec 9, 2017 12:22am Dec 9, 2017 12:22am
Quoting MoneyFocus
{quote} That's a good thing for bulls isn't it? A broker will only suspend a position if they feel that they cannot take any more such bets against them anymore. I'm not sure, correct me if I'm wrong...
Yes, I think so. Most brokers are not ECN, so they take the opposite position to the traders on their platform, they must believe the risk to them is skewed negatively if everyone is long and there is so much upward pressure.
  • #5,772
  • Dec 9, 2017 12:36am Dec 9, 2017 12:36am
Quoting HockMan
Bitcoin bound to collapse one day. When mkt starts taking profit, all switch to sell. Brokers r making a killing on spread. I still short till today.
I am not in the market right now, but I have a feeling something big with happen before the futures launch on CBOE and CME. Not sure which way, but my broker has made sure I can only play one side and watch the other.

Cramer (CNBC) believes the futures will wreck Bitcoin (https://www.cnbc.com/2017/12/08/cram...n-trading.html), but there are many who believe the leveraged shorting and associated short covering will do the opposite (https://www.cnbc.com/2017/12/09/bitc...ocurrency.html).

Short term I think there will be a lot of turmoil, but the take-up of Blockchain will underpin crypto-currencies in one form or another.
  • #5,773
  • Dec 9, 2017 12:46am Dec 9, 2017 12:46am
Quoting Vitallica
{quote} I am not in the market right now, but I have a feeling something big with happen before the futures launch on CBOE and CME. Not sure which way, but my broker has made sure I can only play one side and watch the other. Cramer (CNBC) believes the futures will wreck Bitcoin (https://www.cnbc.com/2017/12/08/cram...n-trading.html), but there are many who believe the leveraged shorting and associated short covering will do the opposite (https://www.cnbc.com/2017/12/09/bitc...ocurrency.html)....
There's a running joke on some other forum that whatever Jim says, the opposite happens so...
  • #5,774
  • Dec 9, 2017 1:34am Dec 9, 2017 1:34am
Quoting HockMan
Bitcoin bound to collapse one day. When mkt starts taking profit, all switch to sell. Brokers r making a killing on spread. I still short till today.
They may make a killing on the spread but if they've been "B Booking" trades on Crypto CFDs (effectively phantom markets), some would have massive exposure and losses already. I'd suggest these are the ones who have stopped taking longs. And if the market keeps climbing we could see some brokers in serious trouble very soon.
  • #5,775
  • Dec 9, 2017 3:37am Dec 9, 2017 3:37am
Hockman, big party for you i think in the upcoming days on Bitcoin. This day chart on BTC looks promising

BTC 10K again?

chances are growing.
  • #5,776
  • Dec 9, 2017 5:09am Dec 9, 2017 5:09am
Quoting BSFilter
{quote} if the market keeps climbing we could see some brokers in serious trouble very soon.
well said , that's why bucket brokers are suspending BTC trading

if BTC shoots up thru the roof they risk closing the whole bucket shop
  • #5,777
  • Dec 9, 2017 5:12am Dec 9, 2017 5:12am
Quoting Vitallica
{quote} Think Markets still allowing trading, just the spread is horrible at 7,500 today.
man just run away , that spread is a rip-off
  • #5,778
  • Dec 9, 2017 7:24am Dec 9, 2017 7:24am
https://www.cnbc.com/2017/12/09/bitc...ocurrency.html
https://www.cnbc.com/2017/12/08/cram...n-trading.html
  • #5,779
  • Dec 9, 2017 9:18am Dec 9, 2017 9:18am
Looking @ Bitfinex daily - inside day on very high volume. I'd be careful taking up any position in here. Trade safely!
  • #5,780
  • Dec 9, 2017 10:56am Dec 9, 2017 10:56am
weekend recreational read https://www.peakprosperity.com/blog/...y-bitcoin-read
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