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Bitcoin technical analysis

  • #5,781
  • Dec 9, 2017 11:06am Dec 9, 2017 11:06am
Quoting asgcorp
Looking @ Bitfinex daily - inside day on very high volume. I'd be careful taking up any position in here. Trade safely!
Big players sold over 5 bln USD worth of bitcoin on Friday (Bitfinex) while retail loaded up. I'd be really really careful here. Buying @ current level is insane imo.
  • #5,782
  • Dec 9, 2017 11:17am Dec 9, 2017 11:17am
Making low of the day now..
  • #5,783
  • Dec 9, 2017 11:30am Dec 9, 2017 11:30am
Quoting MoneyFocus
Making low of the day now..
check out the shadow on weekly candle @ Bitfinex.
  • #5,784
  • Dec 9, 2017 11:33am Dec 9, 2017 11:33am
Probably some money moving out of bitcoin into other cryptos (like LTC) because of the uncertainty about how the futures is going to affect bitcoin when they begin trading sunday.
Attached Image(s) (click to enlarge)
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  • #5,785
  • Dec 9, 2017 12:28pm Dec 9, 2017 12:28pm
Quoting asgcorp
{quote} Big players sold over 5 bln USD worth of bitcoin on Friday (Bitfinex) while retail loaded up. I'd be really really careful here. Buying @ current level is insane imo.
Correct.
I'd expect $11000 again.

Explained here.
Awesome!!!!

https://www.reddit.com/r/Bitcoin/com..._be_available/
Beware of robber banks (RB), bad advisors.
  • #5,786
  • Dec 9, 2017 12:32pm Dec 9, 2017 12:32pm
Quoting mister123
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.
Most likely.
Need shake the tree, monkeys fall down, margin calls...

Then, after 10k buy again.

I wish i sold higher... but exchange was unstable. Manipulation is biiiig.
Beware of robber banks (RB), bad advisors.
  • #5,787
  • Dec 9, 2017 1:05pm Dec 9, 2017 1:05pm
with Coinbase I still cant sell my LTC and ETH but can sell my BTC............ market manipulation

BTC market is strongly bid hence the need for middlemen and the BTC market to seek liquidity
  • #5,788
  • Dec 9, 2017 5:22pm Dec 9, 2017 5:22pm
Quoting antgal23
with Coinbase I still cant sell my LTC and ETH but can sell my BTC............ market manipulation BTC market is strongly bid hence the need for middlemen and the BTC market to seek liquidity
Coinbase sent out an email yesterday titled "Please invest responsibly — an important message from the Coinbase team" - this term is usually reserved for gambling, but I let it go assuming they were referring to the new accounts who suddenly realized there was an "opportunity" here.

Some brokers have stopped accepting new crypto positions allowing closing only, but you don't expect an exchange to do the same thing, we could see it in how BTC dropped while ETH and LTC in particular rose, just people forced to move into other cryptos not cash.

The futures margin requirements will virtually exclude all retail traders from the CBOE and CME so the power behind it will be institutional. A storm is definitely coming, but once it is done it might be worthwhile to distribute your holdings over more exchanges - the Coinbase premium is substantial anyway.

CNN is not usually the go to for info on Bitcoin, but checkout the video in this link, the deer will scatter when they realize what they bought and the exit tightens, long term investors will do what Not-KPMG plans, I will trade the waves they create (if the brokers make it!).

http://money.cnn.com/2017/12/09/inve...ing/index.html
  • #5,789
  • Dec 9, 2017 6:41pm Dec 9, 2017 6:41pm
Bitcoin at USD14,880 now, imagine being the sap who bought it at the peak on GDAX of USD19,697!
  • #5,790
  • Dec 9, 2017 7:26pm Dec 9, 2017 7:26pm
Hope it crashes tom when mkt opens. I still hv short 5 bitcoin at 9200. I actually hoping for eur and gbp collapse against usd. Hope all of u make money. We all should share our views, no right nor wrong, as long as we all make money. Good luck all.
  • #5,791
  • Dec 9, 2017 7:29pm Dec 9, 2017 7:29pm
A friendly reminder from the G-man and Goldman Sachs

We are here to take your money, oh no need to panic, the interest of government is totally in line with the people for the past 2000 years as we will never ever ever steal your money legally by puffing legislation out of thin air backed by definitely not you but the bloodsucking lawyers and anti-social scums of market manipulators.


http://www.zerohedge.com/news/2017-1...chs-connection


People trade bitcoin for profit, hardly does anyone thinks about what it symbolizes, if the anti-establishment movement in Europe gives you any hint.

Bitcoin is anarchy, whatever actions conform to the status quo where the few "elite" namely the most anti-social ones rule the majority, just like the most primitive form of the animal kingdoms, is a direct contempt to the most transcendent social structure ever created that may catapult humanity to a height beyond our animal instinct---to freely roam instead of being ruled by the king


Crypto is the future, but bitcoin is going down with their London price fixing scheme which already burnt gold & silver & forex traders alike for the millennial of times.
No Highs? No Lows? Must be Bose!
  • #5,792
  • Dec 9, 2017 8:16pm Dec 9, 2017 8:16pm
I think bitcoin doesn't have technical analysis



Only Fundamental with support and ressistance line
  • #5,793
  • Dec 9, 2017 9:07pm Dec 9, 2017 9:07pm
USD13,880 - it looks like they are taking money already, spreads at 6,000 - still not worth trading yet....
  • #5,794
  • Dec 9, 2017 9:22pm Dec 9, 2017 9:22pm
Anyone knows the best entry point for sell today?
  • #5,795
  • Dec 9, 2017 10:54pm Dec 9, 2017 10:54pm
Quoting Nagd22
Anyone knows the best entry point for sell today?
I do not think it is as straightforward as shorting BTC vs any currency today, wait for the CBOE to go online before committing to a trade (http://cfe.cboe.com/cfe-products/xbt...&utm_source=na).

Not sure what your spread is, but mine is currently 6,000 - that is way too much inertia for trading, winning is as much about money management as getting the trade entry and exit right.
  • #5,796
  • Dec 9, 2017 11:19pm Dec 9, 2017 11:19pm
How do u trade as today is sunday? Which platform is open? Curious
  • #5,797
  • Edited Dec 10, 2017 12:45am Dec 9, 2017 11:31pm | Edited Dec 10, 2017 12:45am
Quoting Vitallica
{quote} I do not think it is as straightforward as shorting BTC vs any currency today, wait for the CBOE to go online before committing to a trade (http://cfe.cboe.com/cfe-products/xbt...&utm_source=na). Not sure what your spread is, but mine is currently 6,000 - that is way too much inertia for trading, winning is as much about money management as getting the trade entry and exit right.
Thanks Vitallica, spread 7000
What is the good spread to start the trading?
  • #5,798
  • Dec 9, 2017 11:44pm Dec 9, 2017 11:44pm
Quoting HockMan
How do u trade as today is sunday? Which platform is open? Curious
Bitcoin trades continuously with no market close, and I found most of the big moves this year happened over the weekend.

There are quite a few brokers that offer 24/7 trading, they just increase the spreads over the weekend because of the cost of the legal requirements to keep the trading desks staffed at all times. I use Think Markets and AVA Trade, but just search for Bitcoin brokers offering 24/7 trading to find one with the best spreads and reviews for your region.
  • #5,799
  • Dec 9, 2017 11:57pm Dec 9, 2017 11:57pm
Oh ok tks. I trade using pepperstone. Fxcm do not offer bitcoin
  • #5,800
  • Dec 10, 2017 1:28am Dec 10, 2017 1:28am
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 chart of Bitcoin vs the great silver rally of 1979/80, and the relationship was rather uncanny.
Look Sharp/Trade Tight
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