Bitcoin technical analysis | Page 291 | Crypto Craft

Options

Go to
Permalinks
Print Thread

Related Instruments

BTC/USD

Similar Threads

Bitcoin-Family math and technical analysis 21 replies

Bitcoin Analysis 22 replies

Fundamental Analysis, Technical Analysis Or Graph Analysis? 28 replies

Attachments: Bitcoin technical analysis
Exit Attachments

Bitcoin technical analysis

  • #5,801
  • Dec 10, 2017 3:51am Dec 10, 2017 3:51am
Quoting PayTheLimit
My feeling is this. Bitcoin will follow that pattern of all the other spectacular run ups in history. Look at cotton, silver, the Dow, lumber, sugar, coffee, the Nasdaq, Nikkei, Nat Gas, etc. After we peak, we get a selloff of 70-90%. Then its dead money, for years. That's the wildcard. How many years will it trade sideways for? 1, 2, 5, 10? Then we go back up. Now maybe perhaps Bitcoin doesn't share anything with all the other markets traded in history. But generally, if humans are trading it, that pattern holds true. Somewhere I saw an interesting...
However it turns out, one thing I can say it has been the most exciting thing I have ever traded. If there is a steep sell-off I will be there, but I suspect the underlying Blockchain Technology is another step change in the pace of change in our world (http://www.smh.com.au/business/banki...06-p4yxhe.html).

My son first urged me to buy him 20 Bitcoins when they were just USD15 each, he has added to that with pocket money over the years and graduated from high school this year. He suggests we will have a conversation in the future about the opportunity 99.9% of the world missed. Each generation is challenged by technology which shifts their world, I suspect we are again at such a point.
  • #5,802
  • Dec 10, 2017 4:16am Dec 10, 2017 4:16am
Details of trading of the Bitcoin Futures contracts at the CME and CBoE:

https://www.reuters.com/article/us-b...-idUSKBN1E10KC

Sixer
  • #5,803
  • Dec 10, 2017 5:33am Dec 10, 2017 5:33am
Quoting PayTheLimit
My feeling is this. Bitcoin will follow that pattern of all the other spectacular run ups in history. Look at cotton, silver, the Dow, lumber, sugar, coffee, the Nasdaq, Nikkei, Nat Gas, etc. After we peak, we get a selloff of 70-90%. Then its dead money, for years. That's the wildcard. How many years will it trade sideways for? 1, 2, 5, 10? Then we go back up. Now maybe perhaps Bitcoin doesn't share anything with all the other markets traded in history. But generally, if humans are trading it, that pattern holds true. Somewhere I saw an interesting...
Even 70% - 90% seloff means price range ~ 1700 - 5100. The price of April - June.
Andyes, the fundamentals of cryptocoins differ from stocks and commodities and currencies.
  • #5,804
  • Dec 10, 2017 5:36am Dec 10, 2017 5:36am
I drafted this chart tonight.
Use with care.

10% of all profits to me!!!!

Then i analyzed in depth, to see where banks bought ...and where dip could be. Came up with $7300.

Of course beware. I'm not selling (missed the top, sh!t work, crashes).

Attached Image (click to enlarge)
Click to Enlarge Name: Bitcoin early 2018.jpg Size: 131 KB
Beware of robber banks (RB), bad advisors.
  • #5,805
  • Dec 10, 2017 5:43am Dec 10, 2017 5:43am
Quoting PayTheLimit
My feeling is this. Bitcoin will follow that pattern of all the other spectacular run ups in history. Look at cotton, silver, the Dow, lumber, sugar, coffee, the Nasdaq, Nikkei, Nat Gas, etc. After we peak, we get a selloff of 70-90%.....

... How many years will it trade sideways for? 1, 2, 5, 10? Then we go back up. Now maybe perhaps Bitcoin doesn't share anything with all the other markets traded in history.....
the great silver rally of 1979/80, and the relationship was rather uncanny.
Hmm. Respect, you're very smart guy

It's possible to follow the 2014 crash $1200 to 300.
Or higher... Noone knows.

Then sideways... but short time. Bitcoin is so famous. it's not lumber or frozen pig bladders
Also the speed of current life is 10-20 times faster than 1960s.

Then up. No one knows when....

So trade safe
Beware of robber banks (RB), bad advisors.
  • #5,806
  • Dec 10, 2017 5:54am Dec 10, 2017 5:54am
interesting
  • #5,807
  • Dec 10, 2017 8:20am Dec 10, 2017 8:20am
BTC is now back above 15000 , up from yesterday's low around 12600
  • #5,808
  • Dec 10, 2017 10:20am Dec 10, 2017 10:20am
And here another wise ass dashing bitcoin.

https://www.cnbc.com/2017/12/08/wher...our-money.html

What a disgusting view to splatter all over the wannabe investors::
Stocks... ....when you see market fluctuations or a bad headline: "Keep buying it through thick and thin, and especially through thin. … American business is going to do fine over time,.....

see??? Just buy stocks, hold fake papers, money etc....you'll do FINE?????? Government will print you $$$$ you'll be FINE????

and bitcoin is bubble??? Stocks and other promises e.g. indexes are not!!!!
Beware of robber banks (RB), bad advisors.
  • #5,809
  • Dec 10, 2017 11:18am Dec 10, 2017 11:18am
just let em dash BTC as much as they like

the more they dash it , the more it gains !!
  • #5,810
  • Dec 10, 2017 2:49pm Dec 10, 2017 2:49pm
Finance Yahoo now got a page dedicated to cryptos with a nice summary https://finance.yahoo.com/cryptocurrencies
  • #5,811
  • Dec 10, 2017 5:27pm Dec 10, 2017 5:27pm
https://www.cnbc.com/2017/12/10/bitc...y-evening.html
  • #5,812
  • Dec 10, 2017 6:25pm Dec 10, 2017 6:25pm
* the bid-to-ask price spread was "too wide" for him to trade the futures right away. "I can't trade a product when the spread is $120. If those spreads tighten up, then it will be much easier" for people to trade *

well said , brokers will need to lower spreads much further
  • #5,813
  • Dec 10, 2017 6:53pm Dec 10, 2017 6:53pm
eerily similar BITCOIN GOLD NASDAQ AND SILVER
Attached Image
  • #5,814
  • Dec 10, 2017 7:21pm Dec 10, 2017 7:21pm
Quoting Nagd22
{quote} Thanks Vitallica, spread 7000 What is the good spread to start the trading?
Apologies for the late reply, the normal spread range should be 1,500 to 2,500 for BTCUSD. Hopefully competition will bring these down further, but we are caught in the retail trader trap.
  • #5,815
  • Edited 8:15pm Dec 10, 2017 8:00pm | Edited 8:15pm
Quoting johnecad
eerily similar BITCOIN GOLD NASDAQ AND SILVER {image}
It would be interesting to do the same comparison with the time line for each. The reason I mention this is that virtually the entire world believe we are at the bull trap stage in the blow-off phase of the classic bubble chart.

I suspect that the introduction of futures contracts by the CBOE, the commitment by the CME and the promise by the NASDAQ were not committed to lightly, and this could mean that if we are indeed looking at a bubble, we may only be in the enthusiasm stage of the mania phase.

Many will be lost in the chasm between theory and practice.
Attached Image (click to enlarge)
Click to Enlarge Name: stages_bubble.png Size: 30 KB
  • #5,816
  • Dec 10, 2017 8:36pm Dec 10, 2017 8:36pm
Quoting Vitallica
{quote} It would be interesting to do the same comparison with the time line for each. The reason I mention this is that virtually the entire world believe we are at the bull trap stage in the blow-off phase of the classic bubble chart. I suspect that the introduction of futures contracts by the CBOE, the commitment by the CME and the promise by the NASDAQ were not committed to lightly, and this could mean that if we are indeed looking at a bubble, we may only be in the enthusiasm stage of the mania phase. Many will be lost in the chasm between...
I get your drift. Generally the patterns are all rinse an repeat just on different time frames and different scales. I have attached a chart that shows what you have pointed out showing gold vs bitcoin on different time frames but similar patterns. bitcoin looks a little stronger than gold and is just starting final wave. It could reach a little past the high before start of down trend. I will wait for exit confirmation before shorting this beast. It took gold 1 year for similar pattern that btc did in 4 days. If btc does turn down, the cycle should only last for 25 days. Always rinse and repeat. If it doesn't breach the high then I call this an easy out for future price to rise above with trend line between the 2 causing a high to low line
Attached Image
  • #5,817
  • Dec 10, 2017 8:54pm Dec 10, 2017 8:54pm
Quoting johnecad
{quote} I get your drift. Generally the patterns are all rinse an repeat just on different time frames and different scales. I have attached a chart that shows what you have pointed out showing gold vs bitcoin on different time frames but similar patterns. bitcoin looks a little stronger than gold and is just starting final wave. It could reach a little past the high before start of down trend. I will wait for exit confirmation before shorting this beast. It took gold 1 year for similar pattern that btc did in 4 days. If btc does turn down, the...
It will be interesting to see how it plays out. For now I am just trading it, I never leave my BTCUSD trades unattended, so I have been surfing the long since the CBOE futures opened, the ride from USD15,000 to USD16,500 has been a clean rise, no momentum shift detected yet.
  • #5,818
  • Dec 10, 2017 9:08pm Dec 10, 2017 9:08pm
Quoting PayTheLimit
My feeling is this. Bitcoin will follow that pattern of all the other spectacular run ups in history. Look at cotton, silver, the Dow, lumber, sugar, coffee, the Nasdaq, Nikkei, Nat Gas, etc. After we peak, we get a selloff of 70-90%. Then its dead money, for years. That's the wildcard. How many years will it trade sideways for? 1, 2, 5, 10? Then we go back up. Now maybe perhaps Bitcoin doesn't share anything with all the other markets traded in history. But generally, if humans are trading it, that pattern holds true. Somewhere I saw an interesting...
Yeah, I thought like this too in 2014 and I regret it lol.
Nevermind, bitcoin is always up as long the demand is high, alt-coin price always based on BTC up and down. Demand for btc always going up.
  • #5,819
  • Dec 10, 2017 9:26pm Dec 10, 2017 9:26pm
There is a time to analyze and a time to trade, today the CBOE open was the universal trigger to see what would happen, we are over USD16,900 now, this is a spectacular gain on 10 lots by any measure. I have been waiting since this morning for a trade on XAUUSD and unfortunately it is still at the market open price of USD1,248 (USD2 removed from the London pm fix from Friday).

The Imagine Dragons song "Whatever it Takes" has some great lines which could easily refer to the Bitcoin trade:
"Everybody waiting for the fall of man
Everybody praying for the end of times
Everybody hoping they could be the one
I was born to run, I was born for this"

Don't love or hate Bitcoin, just trade it, it is an incredible thing in a near static forex universe.
Attached Image (click to enlarge)
Click to Enlarge Name: BTC16.92.PNG Size: 188 KB
  • #5,820
  • Dec 10, 2017 10:02pm Dec 10, 2017 10:02pm
The velocity of the move is still positive, but the acceleration has shifted to negative, so I have taken profit, looking for the next entry, too early to confirm if it is a swing trade yet. Nice run anyhow.

Plus the robber broker has changed the spread from 2,000 to 8,000!
2 traders viewing now