- #42
- Aug 6, 2019 8:08pm Aug 6, 2019 8:08pm
- Joined Feb 2016 | Status: Full Time Trader. | 5,429 Posts
4&1 All Time Profit:
$37,496
- #44
- Aug 6, 2019 8:30pm Aug 6, 2019 8:30pm
- Joined Feb 2016 | Status: Full Time Trader. | 5,429 Posts
{quote}
4&1 All Time Profit:
$37,496
- #45
- Aug 6, 2019 9:42pm Aug 6, 2019 9:42pm
- Joined Jan 2009 | Status: LFG ROSS | 1,777 Posts
Hello Friends...I thought i might join your thread...
I think you're going to like this market buddy. Interested to hear your opinion about the CFD route for trading the cryptos (assuming you're on CFD since it's a demo). What kind of spreads are you seeing on BTC/USD?
{quote} It's all trial and error at the moment bud......
That makes two of us!
- #46
- Aug 6, 2019 9:45pm Aug 6, 2019 9:45pm
- Joined Jan 2009 | Status: LFG ROSS | 1,777 Posts
As for the price action, yesterday's 12K test failed, but looks like we're going to make another run tonight. 
BTC: Price: $11,740 | MCAP: $29.90 billion | 24-Hr Volume: $19.96 billion
Short-term trend: Neutral
Bitcoin's failure to hold on to gains above $12,000 in the last 24 hours has neutralized the immediate bullish setup. This is due to the fact that the bulls have consistently failed to engineer a sustained break above that psychological level over the last six weeks.
BTC jumped to a high of $13,880 on June 26 only to fall back below $12,000 on the following day. Similar price action was seen in the following two weeks. Notably, prices rose to $13,200 on July 10, only to fall back below $10,000 the following day.
Also, BTC created a candle with a long upper shadow yesterday, signaling buyer exhaustion above $12,000.
The outlook, however, would turn bearish only if prices close below $11,200 today. Meanwhile, a weekly close (Sunday, UTC) above $12,000 is needed to revive the bull market from lows near $4,100 seen at the beginning of April.
Long-term trend: Bullish
Bitcoin snapped its five-month winning streak with moderate losses in July. The bullish structure on the long-term charts is still intact.
The 5- and 10-month moving averages continue to trend north, indicating a bullish setup.
The 3-day chart, the 50- and 200-candle moving averages (MAs) have produced a golden crossover, the first since Feb. 3, 2016.
The long-term bullish outlook would be invalidated only if prices print a UTC close below the 200-day MA, currently at $6,417.
Short-term trend: Neutral
Bitcoin's failure to hold on to gains above $12,000 in the last 24 hours has neutralized the immediate bullish setup. This is due to the fact that the bulls have consistently failed to engineer a sustained break above that psychological level over the last six weeks.
BTC jumped to a high of $13,880 on June 26 only to fall back below $12,000 on the following day. Similar price action was seen in the following two weeks. Notably, prices rose to $13,200 on July 10, only to fall back below $10,000 the following day.
Also, BTC created a candle with a long upper shadow yesterday, signaling buyer exhaustion above $12,000.
The outlook, however, would turn bearish only if prices close below $11,200 today. Meanwhile, a weekly close (Sunday, UTC) above $12,000 is needed to revive the bull market from lows near $4,100 seen at the beginning of April.
Long-term trend: Bullish
Bitcoin snapped its five-month winning streak with moderate losses in July. The bullish structure on the long-term charts is still intact.
The 5- and 10-month moving averages continue to trend north, indicating a bullish setup.
The 3-day chart, the 50- and 200-candle moving averages (MAs) have produced a golden crossover, the first since Feb. 3, 2016.
The long-term bullish outlook would be invalidated only if prices print a UTC close below the 200-day MA, currently at $6,417.
Money = Labour coupons
- #49
- Aug 7, 2019 8:57am Aug 7, 2019 8:57am
- Joined Dec 2015 | Status: Trader | 1,505 Posts
Don! Glad to see a fellow gold trader taking the plunge into crypto!
I have already noticed, at least on this server that the data I usually rely on to make good decisions (volume) is not really present in the way I'm used to seeing it. Any my computer is over heating trying to compensate. It keep searching for the volume data over and over but its just not there. I wondering if it is just the server. But from what I understand (like in FX) there is no central repository for crypto data and thus it is up to the broker to feed you that information. Another reason why I was a bit shy to join this market.
With this in mind I do see why it is attractive to those who would like to avoid "unnecessary" attention from regulators and government agencies by using an unregulated and completely opaque market. I haven't yet decided if that is the route I wish to take also.
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- #50
- Aug 7, 2019 10:24am Aug 7, 2019 10:24am
- Joined Dec 2015 | Status: Trader | 1,505 Posts
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I'm shorting BTC atm. 12k was a strong resistance point based on price action and the move lower has some steam. {image}
we will see if the slip resumes!
If you like my post 
throw me a Doge: D85YHaQ6nQTp4oT13sHoAZbETn3sADVnF8
throw me a Doge: D85YHaQ6nQTp4oT13sHoAZbETn3sADVnF8
- #55
- Aug 7, 2019 5:10pm Aug 7, 2019 5:10pm
- Joined Jan 2009 | Status: LFG ROSS | 1,777 Posts
We're back to the 12K test. Let's see if she'll break! 
Btw guys I'm starting to reconsider this CFD route. My IC Markets account has an $8 spread on BTC/USD, which is a hell of a lot better than my Debris account. Debris doesn't even tell you exactly how big the spread is!
I have a CFD position open now, will see how it goes.
Btw guys I'm starting to reconsider this CFD route. My IC Markets account has an $8 spread on BTC/USD, which is a hell of a lot better than my Debris account. Debris doesn't even tell you exactly how big the spread is!
I have a CFD position open now, will see how it goes.
- #56
- Aug 7, 2019 5:11pm Aug 7, 2019 5:11pm
- Joined Sep 2017 | Status: Still a total mystery | 3,569 Posts
Well did the trumps tweet about the FED "joke" settled in already? If so, I would be open to SHORT a little 
Can you afford to take that chance?
- #57
- Aug 7, 2019 5:13pm Aug 7, 2019 5:13pm
- Joined Jan 2009 | Status: LFG ROSS | 1,777 Posts
Something is going down, didn't hit TP @ 11505 though{image}
Well did the trumps tweet about the FED "joke" settled in already? If so, I would be open to SHORT a little
I haven't yet decided if that is the route I wish to take also.
- #58
- Aug 7, 2019 6:43pm Aug 7, 2019 6:43pm
- Joined Jan 2009 | Status: LFG ROSS | 1,777 Posts
We're really struggling with this 12K resistance. 
I have a feeling that when it busts through, it's going to do so with authority.
I have a feeling that when it busts through, it's going to do so with authority.
- #59
- Aug 7, 2019 7:24pm Aug 7, 2019 7:24pm
- Joined Dec 2015 | Status: Trader | 1,505 Posts
{. Maybe not fully decided, but I sense you're being seduced.
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