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Trading Bitcoin with Trend lines and S/R

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  • Post #1
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  • First Post: Jul 21, 2019 7:08am Jul 21, 2019 7:08am
  •  YellowFellow
  • | Commercial Member | Joined Aug 2015 | 579 Posts
Strategy:

 

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

Meditate -> Workout -> Good Food = Good Life!
Double [/Rep]: Fully Blown i (FBi) All Time Return: 66.3%
  • Post #2
  • Quote
  • Jul 21, 2019 7:10am Jul 21, 2019 7:10am
  •  YellowFellow
  • | Commercial Member | Joined Aug 2015 | 579 Posts
Lower highs and lower lows, currently short with SLs not too far..
Attached Image (click to enlarge)
Click to Enlarge

Name: bitc-01.png
Size: 42 KB
Meditate -> Workout -> Good Food = Good Life!
Double [/Rep]: Fully Blown i (FBi) All Time Return: 66.3%
 
 
  • Post #3
  • Quote
  • Jul 21, 2019 9:02am Jul 21, 2019 9:02am
  •  TudorIoan
  • Joined Dec 2015 | Status: Member | 13,978 Posts
Great job!
Just sell the tops and never buy the bottoms on bitcoin!
Member
 
2
  • Post #4
  • Quote
  • Jul 23, 2019 11:42am Jul 23, 2019 11:42am
  •  g-force
  • Joined Oct 2016 | Status: Member | 258 Posts
Quoting YellowFellow
Disliked
Lower highs and lower lows, currently short with SLs not too far.. {image}
Ignored
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.
If you like my post throw me a Doge: D85YHaQ6nQTp4oT13sHoAZbETn3sADVnF8
 
 
  • Post #5
  • Quote
  • Jul 31, 2019 1:40pm Jul 31, 2019 1:40pm
  •  YellowFellow
  • | Commercial Member | Joined Aug 2015 | 579 Posts
Quoting g-force
Disliked
{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.
Ignored
Apologies for replying so late.. I messed up a lot this month.. kinda lost and haven't slept well..
Meditate -> Workout -> Good Food = Good Life!
Double [/Rep]: Fully Blown i (FBi) All Time Return: 66.3%
 
 
  • Post #6
  • Quote
  • Jul 31, 2019 2:10pm Jul 31, 2019 2:10pm
  •  cityRat
  • Joined Jul 2019 | Status: Member | 442 Posts
Quoting YellowFellow
Disliked
{quote} Apologies for replying so late.. I messed up a lot this month.. kinda lost and haven't slept well..
Ignored
We've all been there my friend. Good luck getting back on that horse.
 
1
  • Post #7
  • Quote
  • Jul 31, 2019 2:38pm Jul 31, 2019 2:38pm
  •  g-force
  • Joined Oct 2016 | Status: Member | 258 Posts
Quoting YellowFellow
Disliked
{quote} Apologies for replying so late.. I messed up a lot this month.. kinda lost and haven't slept well..
Ignored
Ah sorry to hear that man. I thought you would've made out like a bandit shorting BTC earlier in the month.
If you like my post throw me a Doge: D85YHaQ6nQTp4oT13sHoAZbETn3sADVnF8
 
 
  • Post #8
  • Quote
  • Aug 1, 2019 2:08pm Aug 1, 2019 2:08pm
  •  YellowFellow
  • | Commercial Member | Joined Aug 2015 | 579 Posts
Quoting g-force
Disliked
{quote} Ah sorry to hear that man. I thought you would've made out like a bandit shorting BTC earlier in the month.
Ignored
I've been improving lately... improved a lot.. but still a far cry from holding position to ride a simple rally..
Meditate -> Workout -> Good Food = Good Life!
Double [/Rep]: Fully Blown i (FBi) All Time Return: 66.3%
 
 
  • Post #9
  • Quote
  • Aug 1, 2019 3:07pm Aug 1, 2019 3:07pm
  •  g-force
  • Joined Oct 2016 | Status: Member | 258 Posts
Quoting YellowFellow
Disliked
{quote} I've been improving lately... improved a lot.. but still a far cry from holding position to ride a simple rally..
Ignored
Good to hear man. Progress makes the struggle worth it. Nothing is more joyful for me than the feeling of progress.
If you like my post throw me a Doge: D85YHaQ6nQTp4oT13sHoAZbETn3sADVnF8
 
 
  • Post #10
  • Quote
  • Aug 3, 2019 4:47am Aug 3, 2019 4:47am
  •  Ale1xandra
  • | Joined Jul 2019 | Status: Member | 9 Posts
Quoting YellowFellow
Disliked
Lower highs and lower lows, currently short with SLs not too far.. {image}
Ignored
At least it seems the only way to trade bitcoin in technical analysis...
 
1
  • Post #11
  • Quote
  • Aug 3, 2019 11:04pm Aug 3, 2019 11:04pm
  •  MzansiObi
  • Joined Feb 2016 | Status: Full Time Trader. | 5,432 Posts
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........
4&1 All Time Profit: $38,873
 
 
  • Post #12
  • Quote
  • Aug 5, 2019 3:44pm Aug 5, 2019 3:44pm
  •  DonPato
  • Joined Dec 2015 | Status: Member | 1,509 Posts
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?
Do more of that which succeeds and less of that which does not - Dennis Gar
 
 
  • Post #13
  • Quote
  • Aug 5, 2019 3:52pm Aug 5, 2019 3:52pm
  •  TwoSense
  • Joined Jul 2019 | Status: The future is bright, with crypto | 144 Posts
Quoting DonPato
Disliked
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?
Ignored
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.
 
1
  • Post #14
  • Quote
  • Aug 5, 2019 6:23pm Aug 5, 2019 6:23pm
  •  g-force
  • Joined Oct 2016 | Status: Member | 258 Posts
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.
If you like my post throw me a Doge: D85YHaQ6nQTp4oT13sHoAZbETn3sADVnF8
 
 
  • Post #15
  • Quote
  • Aug 6, 2019 10:02am Aug 6, 2019 10:02am
  •  DonPato
  • Joined Dec 2015 | Status: Member | 1,509 Posts
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?
Do more of that which succeeds and less of that which does not - Dennis Gar
 
 
  • Post #16
  • Quote
  • Aug 7, 2019 6:07pm Aug 7, 2019 6:07pm
  •  Hasher
  • Joined Jul 2019 | Status: Member | 318 Posts
Quoting DonPato
Disliked
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?
Ignored
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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1
  • Post #17
  • Quote
  • Aug 7, 2019 6:34pm Aug 7, 2019 6:34pm
  •  yg10
  • Joined Dec 2010 | Status: Member | 393 Posts
Quoting DonPato
Disliked
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?
Ignored
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.
 
1
  • Post #18
  • Quote
  • Aug 7, 2019 6:50pm Aug 7, 2019 6:50pm
  •  DonPato
  • Joined Dec 2015 | Status: Member | 1,509 Posts
Quoting yg10
Disliked
{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.
Ignored
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.
Do more of that which succeeds and less of that which does not - Dennis Gar
 
 
  • Post #19
  • Quote
  • Aug 7, 2019 6:54pm Aug 7, 2019 6:54pm
  •  DonPato
  • Joined Dec 2015 | Status: Member | 1,509 Posts
Quoting Hasher
Disliked
{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}
Ignored
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.
Do more of that which succeeds and less of that which does not - Dennis Gar
 
 
  • Post #20
  • Quote
  • Aug 7, 2019 8:34pm Aug 7, 2019 8:34pm
  •  TwoSense
  • Joined Jul 2019 | Status: The future is bright, with crypto | 144 Posts
Quoting DonPato
Disliked
{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.
Ignored
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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