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Bitcoin technical analysis

  • #6,081
  • Jan 2, 2018 10:00am Jan 2, 2018 10:00am
Bitcoin TA:

The symmetrical triangle since the ATH is still developing.

Sixer
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  • #6,082
  • Jan 2, 2018 10:59am Jan 2, 2018 10:59am
Quoting Sixer
Bitcoin TA: The symmetrical triangle since the ATH is still developing. Sixer {image} {image}
nice chart , but it could also break to the downside
  • #6,083
  • Jan 2, 2018 12:45pm Jan 2, 2018 12:45pm
Quoting karasinga
{quote} demand zone held{image} m15{image}
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the going is getting better
It is not over until I win
  • #6,084
  • Edited 1:33pm Jan 2, 2018 12:54pm | Edited 1:33pm
Quoting mag00
{quote} Btc (h4) my view ... (we are inside the first wave of bull market = 12345) wave 3 (which is composed) ... has begun @ 5685 and it will end @ 21k - 21.5k (TP wave 3) the fifth part of the wave 3 alias 5(3co) is also made up of 5 parts we are inside the third part (which is composed, too) P.S. for the information that the market provides me ... ... the third part of wave 5(3co) should reach 17.89k (unless corrections "ma200" @ 12k: if so the fourth part will start @ 17.25k) {image}
Btc (h4)

my view ...

the fifth part of the wave 3 (12345 = first wave of bull market) alias 5(3co), in turn, is made of 5 parts :
we are inside the third part (3co)... that should reach 17.89k

P.S.
waiting the 4th part@17,89k ( a corrective wave )
Attached Image (click to enlarge)
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... panta rei ... (Heraclitus of Ephesus, 535-475 BC)
  • #6,085
  • Jan 3, 2018 7:08pm Jan 3, 2018 7:08pm
It appears most people never made any money on the Bitcoin trade.
https://www.businessinsider.com.au/p...18-1?r=UK&IR=T

I was convinced that there would be brokers who went to the wall since Bitcoin against all FIAT currencies was such a one way trade. Somehow the house still manages to win it seems...

On the XAUUSD and XAGUSD forum, I was taken to task for suggesting the media influence the positioning traders take, but I still hold the view that they act as sheep dogs, herding traders into positions. Consider how many stories were out calling time on the bubble to burst, what a foolish trade Bitcoin was - I suppose many of the people crushed in the short trade took this advice and missed the 2,000% rise in Bitcoin in 2017 entirely. Even after the pullback which has been a very nice trade too, it is still up 1,500% from January 2017.

Plus500 and IG Markets are some of the first to report their results, but I suspect the rest who offer crypto currencies will have similar tales to tell.

Media power...
http://www.smh.com.au/business/disne...14-h04zax.html
  • #6,086
  • Jan 3, 2018 7:11pm Jan 3, 2018 7:11pm
I lost money in bitcoin.
  • #6,087
  • Jan 3, 2018 7:48pm Jan 3, 2018 7:48pm
Quoting HockMan
I lost money in bitcoin.
HockMan I also trade without stop losses, but with a broker like Pepperstone, which I joined on your advice, the option of hedging allows you to adjust your trading strategy.

In cases where I say went long on BTCUSD and the trade went against me, I monitor the trade and if it gets to 6% drawdown (on the margin at risk), I hedge with exactly the same lot size. This locks in the loss, so I can determine if the trade will continue against me or in favour of the original position, I then open a new corrective position in the direction of the trade, and close the hedge once the corrective trade zeroes the hedge.

This avoids subjective bias, so I can just follow the market.
  • #6,088
  • Jan 4, 2018 1:21am Jan 4, 2018 1:21am
One year Bitcoin - Daily chart - the big Picture.

Sixer
Attached Image
  • #6,089
  • Jan 4, 2018 7:23am Jan 4, 2018 7:23am
Quoting Vitallica
{quote}trade without stop losses
Hi Vitallica, I am another convert to crypto trading after a number of years of fx/options/commodities and the usual standard stuff. I noticed the spread can widen significantly even within peak trading hours. Is this why you don't use stop losses?
  • #6,090
  • Jan 4, 2018 7:27am Jan 4, 2018 7:27am
tks vitallica. good luck to you, I already cut all my short bitcoin and loss. Currently just hold long usd for long term as i am in red over usd 600k
  • #6,091
  • Jan 4, 2018 8:28am Jan 4, 2018 8:28am
Quoting uksnowman
{quote} Hi Vitallica, I am another convert to crypto trading after a number of years of fx/options/commodities and the usual standard stuff. I noticed the spread can widen significantly even within peak trading hours. Is this why you don't use stop losses?
Yes, I got caught in a spread flex situation early on in my trading journey on the GBPNZD pair, where the spread widened from 23 to 200 in the middle of the London session, the result was a disaster. I expected as you mention that this only occurred during thin markets or market transition times.

If you look at the XAUUSD price action today on the release of the US ADP employment data you will see impact on stop losses from spread flex.

In terms of the crypto currencies I typically build positions in 10 parts, with each lot opened as the trade moves in my favour - I use the Heiken Ashi bars to assist in visually confirming the trend direction. The volatility is obviously a two edged sword so I do not leave my crytpo currency trades unattended and the worst trading marathon was 42 hours without sleep - tedious, but worth the reward.
  • #6,092
  • Jan 4, 2018 8:29am Jan 4, 2018 8:29am
Quoting HockMan
tks vitallica. good luck to you, I already cut all my short bitcoin and loss. Currently just hold long usd for long term as i am in red over usd 600k
I look forward to you confirming that you have recouped the entire loss this year.
  • #6,093
  • Jan 4, 2018 8:48am Jan 4, 2018 8:48am
Tks vitallixa. I cannot cut as it is too big. So i am holding and hoping for miracle. I myself to be blame to hold long usd. Good luck to all of u.
  • #6,094
  • Jan 4, 2018 9:51am Jan 4, 2018 9:51am
Quoting HockMan
Tks vitallixa. I cannot cut as it is too big. So i am holding and hoping for miracle. I myself to be blame to hold long usd. Good luck to all of u.
best of luck to you mate. I am red at longs too but my loss is not as huge as yours.
  • #6,095
  • Jan 4, 2018 6:12pm Jan 4, 2018 6:12pm
all odds favors bear's country
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It is not over until I win
  • #6,096
  • Edited 4:52am Jan 5, 2018 4:31am | Edited 4:52am
Quoting karasinga
all odds favors bear's country {image}
Don't worry, Bitcoin disrespects technical analysis! USD16k in the blink of an eye. Setting up for a big weekend again.

I cannot find any news that seems to have moved it.
  • #6,097
  • Jan 5, 2018 6:03am Jan 5, 2018 6:03am
things have changed really fast in a matter of days , but this is how things go in Cryptoland

BTC correction looks already over , and it's starting to resume bull trend

bears at risk
  • #6,098
  • Jan 5, 2018 6:13am Jan 5, 2018 6:13am
Bitcoin likely to come down hard after this surge. But I've taken profit on the longs, staying at the sideline for now. Happy weekends!
Live to fight another day
  • #6,099
  • Jan 5, 2018 7:49am Jan 5, 2018 7:49am
Quoting Vitallica
{quote} Yes, I got caught in a spread flex situation early on in my trading journey on the GBPNZD pair, where the spread widened from 23 to 200 in the middle of the London session, the result was a disaster. I expected as you mention that this only occurred during thin markets or market transition times. If you look at the XAUUSD price action today on the release of the US ADP employment data you will see impact on stop losses from spread flex. In terms of the crypto currencies I typically build positions in 10 parts, with each lot opened as the...
Thanks for that, I have also had a few trading sessions lately that went into the small hours of the night thanks to Bitcoin volatility. Having said that, it is very refreshing to have meaningful trading opportunities over the weekend when the rest of the markets are asleep although I'm not sure the wife would agree!

Quoting James0205
Bitcoin likely to come down hard after this surge. But I've taken profit on the longs, staying at the sideline for now. Happy weekends!
Same for me, closed my last long today from 30th Dec. It doesn't look like it is ready to let off the gas yet but both sides offer good opportunities if taken with caution! ETH/USD is having a great run up so far this year too.
  • #6,100
  • Jan 5, 2018 1:19pm Jan 5, 2018 1:19pm
my simply analysis, we are again in short area... no any level breakout...today (btceur)...
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