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Bitcoin technical analysis

  • #5,681
  • Dec 5, 2017 9:48pm Dec 5, 2017 9:48pm
USD11,300... Guess I was wrong!
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  • #5,682
  • Dec 5, 2017 9:50pm Dec 5, 2017 9:50pm
tku Vitallica. My current open positions all in red. hope u all doing well.
  • #5,683
  • Dec 5, 2017 10:39pm Dec 5, 2017 10:39pm
Quoting EntityFX
Wouldn't count on a correction at this point. Bitcoins loved simple fib 38 pullbacks so far, plot some and take a look. My targets 14k. Would take some really bad fundamentals to squash this run I think.
I think you are right, only a significant fundamental change could stop this rally, and stylinex has highlighted one potential.

I suppose the Fibonacci retracement projection is a function of your selected low, but on the daily I had the enclosed view.
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  • #5,684
  • Dec 5, 2017 10:53pm Dec 5, 2017 10:53pm
whole world is hot on bitcoin. it will keep on going higher till someone important or regulator makes something. Personally i don't believe in bitcoin. it is used by many as easy to avoid taxes, and money laundering. So far I am wrong shorting it. I just hope usd rocket.
  • #5,685
  • Dec 5, 2017 11:20pm Dec 5, 2017 11:20pm
Quoting HockMan
whole world is hot on bitcoin. it will keep on going higher till someone important or regulator makes something. Personally i don't believe in bitcoin. it is used by many as easy to avoid taxes, and money laundering. So far I am wrong shorting it. I just hope usd rocket.
EntityFX makes a good point on the fib retracement. I also think BTCUSD is heading higher but I think with 11 straight weeks of higher highs, we are potentially close to a pull-back (the longest runs before this were 9 and 7; and they were more shallow than this run-up).

If my diagram lines up with the point EntityFX made and today represents a peak, a pull-back could possibly take us to USD8,500 as the 38.2% line.

A few people on the forum have quoted USD14-15k as the next high, I prefer not to predict, I just surf the wave.
  • #5,686
  • Dec 5, 2017 11:59pm Dec 5, 2017 11:59pm
Quoting HockMan
whole world is hot on bitcoin. it will keep on going higher till someone important or regulator makes something. Personally i don't believe in bitcoin. it is used by many as easy to avoid taxes, and money laundering. So far I am wrong shorting it. I just hope usd rocket.
You know what else is used to avoid taxes and money laundering? CASH

If Bitcoin wont work then the governments will leave it alone. Hows this working out?
  • #5,687
  • Dec 6, 2017 12:01am Dec 6, 2017 12:01am
Quoting Vitallica
{quote} EntityFX makes a good point on the fib retracement. I also think BTCUSD is heading higher but I think with 11 straight weeks of higher highs, we are potentially close to a pull-back (the longest runs before this were 9 and 7; and they were more shallow than this run-up). If my diagram lines up with the point EntityFX made and today represents a peak, a pull-back could possibly take us to USD8,500 as the 38.2% line. A few people on the forum have quoted USD14-15k as the next high, I prefer not to predict, I just surf the wave.
This is a buying frenzy/euphoria.
Year end soon and every idiot chasing pre-holiday return to brag about during horrible holiday dinners witch cranky father in laws will drive price to new highs.
  • #5,688
  • Dec 6, 2017 12:01am Dec 6, 2017 12:01am
Quoting halichthiep
{quote} FOMO ... haha . I selling at $11.000
haha.. now your underwater for sure!
  • #5,689
  • Dec 6, 2017 12:02am Dec 6, 2017 12:02am
Quoting Vitallica
{quote} I think you are right, only a significant fundamental change could stop this rally, and stylinex has highlighted one potential. I suppose the Fibonacci retracement projection is a function of your selected low, but on the daily I had the enclosed view. {image}
chart looks like its pointing to next log.
  • #5,690
  • Edited 12:59am Dec 6, 2017 12:20am | Edited 12:59am
Quoting Sonofsin5
{quote} This is a buying frenzy/euphoria. Year end soon and every idiot chasing pre-holiday return to brag about during horrible holiday dinners witch cranky father in laws will drive price to new highs.
You are probably right, all the Asian markets are down again today and most of the Bitcoin volume was in JPY and KRW. People appear to be liquidating stocks and buying Bitcoin - the return differential is the obvious lure.

USD12,450
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  • #5,691
  • Dec 6, 2017 2:37am Dec 6, 2017 2:37am
Rally without any retracement. What can make stop it?
  • #5,692
  • Dec 6, 2017 3:23am Dec 6, 2017 3:23am
Quoting Sonofsin5
{quote} This is a buying frenzy/euphoria. Year end soon and every idiot chasing pre-holiday return to brag about during horrible holiday dinners witch cranky father in laws will drive price to new highs.
Bragging yes. Although i keep it secret yet.

But correction we may see when need to buy presents. Ferrari etc
Beware of robber banks (RB), bad advisors.
  • #5,693
  • Dec 6, 2017 3:44am Dec 6, 2017 3:44am
Quoting koleso
Rally without any retracement. What can make stop it?
We barely just begun.
  • #5,694
  • Dec 6, 2017 4:39am Dec 6, 2017 4:39am
This article is very misleading, once the CME is online this will have the opposite effect. The rally will continue for some time yet it seems.
https://www.bloomberg.com/view/artic...-about-futures
  • #5,695
  • Dec 6, 2017 5:13am Dec 6, 2017 5:13am
The market is certainly on edge, dropped from USD12,949 to USD12,316 in 5 min!
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  • #5,696
  • Dec 6, 2017 4:05pm Dec 6, 2017 4:05pm
Quoting halichthiep
{quote} FOMO ... haha . I selling at $11.000
I guess you lost your shirt mr FOMO haha!
  • #5,697
  • Dec 6, 2017 4:23pm Dec 6, 2017 4:23pm
Lightning Network is here, time to make history ...
  • #5,698
  • Dec 6, 2017 4:42pm Dec 6, 2017 4:42pm
Just saw my broker spread change from 1,500 to 6,000 - wondered what happened - flash crash on GDAX, someone sold for USD12,900 when the price was USD13,900!
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  • #5,699
  • Dec 6, 2017 4:43pm Dec 6, 2017 4:43pm
Quoting EntityFX
Wouldn't count on a correction at this point. Bitcoins loved simple fib 38 pullbacks so far, plot some and take a look. My targets 14k. Would take some really bad fundamentals to squash this run I think.
Well done on the call for USD14k, we are almost there! My broker is giving me USD600 less on the spread though....
  • #5,700
  • Dec 6, 2017 4:45pm Dec 6, 2017 4:45pm
https://www.bloomberg.com/news/artic...g-a-16-premium
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