BTCUSD daily price action | Page 2 | Crypto Craft

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BTCUSD daily price action

  • #21
  • Aug 5, 2019 1:46pm Aug 5, 2019 1:46pm
Quoting MarkGman
{quote} I see bitmex is not allowed in US. Not sure about deribit. Just starting my research on my own and looking to get started learning about, trading and investing in crypto space. Not clear the best direction to start out.
Same here, having a tough time finding a good broker. Gemini seems like it might be the best option.
  • #22
  • Aug 5, 2019 3:17pm Aug 5, 2019 3:17pm
Quoting Doji-Star
Gemini seems like it might be the best option.
They do seem pretty good, as well as Coinbase, but I was trying to avoid a lot of paperwork like we have with brokers.

If I'm going to be trading in a new-age financial system, which is totally detached from the current system of banking, regulation, money laundering rules, fiat currency, etc etc, why use a broker who is embedded in the current system? The only reason I can come up with is counterparty risk (ie saftey of funds), but my account won't be big enough to worry about that.

So to be exact, I'm looking for an exchange that gives me some leverage, and only requires a username, password, and some crypto to deposit. Any help is appreciated!

Quoting TMR
{quote} https://www.bitmex.com/app/trade/XBTUSD and https://www.deribit.com/
Looking into them!

Are you trading with them TMR? Any comment on their service?
  • #23
  • Aug 5, 2019 3:33pm Aug 5, 2019 3:33pm
Signed up for Bitmex, but they wouldn't let me trade because they "think" I'm a US resident.

Looked like it would be the same situation with Deribit, so I fired up the proxy and I was able to set up an account with no problems.

Should have some money deposited today.

Btw, they say they give you 100x leverage.
  • #24
  • Aug 5, 2019 5:43pm Aug 5, 2019 5:43pm
Deribit account is funded. Never before have I funded a trading account in under a day. I realize I just sent my money to the wild west, but still.
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  • #25
  • Aug 5, 2019 5:59pm Aug 5, 2019 5:59pm
OK I think I have a position.
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Maybe I'm missing something, but this platform doesn't want to show me the bid/ask for some reason. It's like you have to toss your order in without knowing exactly where the market sits.

I also find this "Est Liq Price" thing really weird. It's the price at which they will liquidate your position... or in trading terms, it's the price at which you get margin called. Says a lot about this platform that they make that number so prominent. I've never seen a trading platform that even told me my margin call price, let alone highlight it like that.

I guess the crypto world is making up their own trading culture.
  • #26
  • Aug 5, 2019 9:21pm Aug 5, 2019 9:21pm
Quoting Goat
{quote} I once thought Gold was negatively correlated with BTC... one being a flight to quality, the other being a risky asset. But the recent synchronized rallies at least proves that to be a low-level driver. Btw, remember that BTC only has a market cap of 200B, and bulls like myself expect it to reach a trillion. Like a growing startup, it's not going to be highly correlated with anything.
So the logic then suggests buying into dips and looking to hold?


From what I have been seeing, it seems to be a very good set and leave asset class......
4&1 All Time Profit: $37,496
  • #27
  • Aug 6, 2019 1:49am Aug 6, 2019 1:49am
Quoting MzansiObi
{quote} So the logic then suggests buying into dips and looking to hold?
I've only started playing around with short term trading, but I can't see doing anything but buying this market. It's a rocket ship right now.

I'm doing well so far, despite the weird trading platform.
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  • #28
  • Aug 6, 2019 2:12am Aug 6, 2019 2:12am
Quoting Goat
{quote} I've only started playing around with short term trading, but I can't see doing anything but buying this market. It's a rocket ship right now. I'm doing well so far, despite the weird trading platform. {image}
Lol which trading platform is that......how are the spreads on it....cause the spreads on my mt4 broker linked account are somewhat high......


So long as you're bagging pips sir
4&1 All Time Profit: $37,496
  • #29
  • Aug 6, 2019 2:17am Aug 6, 2019 2:17am
So Crypto Craft is attributing this spike to PBoC.

https://www.cryptocraft.com/news/938...ulate-currency
  • #30
  • Aug 6, 2019 2:18am Aug 6, 2019 2:18am
Quoting MzansiObi
{quote} Lol which trading platform is that......how are the spreads on it....cause the spreads on my mt4 broker linked account are somewhat high...... So long as you're bagging pips sir
Deribit. I haven't even tried to make a withdrawal so don't take my lead.

And yeah, definitely wouldn't trade cryptos through CFD. Why do it when you can trade spot so easily with these shady exchanges.
  • #31
  • Aug 6, 2019 6:03am Aug 6, 2019 6:03am
Quoting Goat
{quote}Are you trading with them TMR? Any comment on their service?
I have funded accounts on both exchanges. Bitmex has the most liquidity and largest orderbook, however their servers are notorious for "overloading" when there are large price swings. Deribit is the next best alternative but only does about 10% of Bitmex's 24H trade volume.
Money = Labour coupons
  • #32
  • Aug 6, 2019 8:15am Aug 6, 2019 8:15am
BTC: Price: $11,770 | MCAP: $211 billion | 24-Hr Volume: $23.59 billion

Short-term trend: Bullish

Bitcoin has pulled back from one-month highs above $12,300 seen earlier today and could drop further toward to the 50-hour moving average.

The dip, however, could be short-lived, as the daily chart is reporting bullish conditions. For instance, the cryptocurrency invalidated a bearish higher lows pattern with a convincing move above $11,120 on Monday.

The key daily chart indicators like the relative strength index and the moving average convergence divergence (MACD) histogram are also reporting bullish conditions. Further, the 5- and 10-day moving averages (MAs) are trending north.

The bullish case would weaken if prices find acceptance below the ascending 10-day MA, currently at $10,545.

Long-term trend: Bullish

Bitcoin snapped its five-month winning streak with moderate losses in July. The bullish structure on the long-term charts, however, 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.
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Money = Labour coupons
  • #33
  • Aug 6, 2019 9:06am Aug 6, 2019 9:06am
Any reason for this drop?
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  • #34
  • Aug 6, 2019 9:36am Aug 6, 2019 9:36am
Hello Friends...I thought i might join your thread...You'll have to forgive me however. I am new to bitcoin, but NOT to trading. I have noticed we are sharing charts here and I thought I'd share my most recent trade. My usual tools don't seem to work on BitCoin, because I use volume heavily. So I am back to price action. lets see how it goes....I'm short. (demo only for me this market is absolutely new to me)
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I have another short pending for a retest of the most recent top...we'll see...I'm kinda blind here.
@xxxx§|[::::::::::::::::>
  • #35
  • Aug 6, 2019 10:08am Aug 6, 2019 10:08am
Quoting TMR
{quote} I have funded accounts on both exchanges. Bitmex has the most liquidity and largest orderbook, however their servers are notorious for "overloading" when there are large price swings. Deribit is the next best alternative but only does about 10% of Bitmex's 24H trade volume.
Thanks Goat and TMR for sharing your experience. I think I will check out Bitmex. However, researching Gemini as well.
  • #36
  • Aug 6, 2019 11:59am Aug 6, 2019 11:59am
Quoting Goat
{quote} Deribit. I haven't even tried to make a withdrawal so don't take my lead. And yeah, definitely wouldn't trade cryptos through CFD. Why do it when you can trade spot so easily with these shady exchanges.
Lol make a withdrawal and let us know how it goes.....
4&1 All Time Profit: $37,496
  • #37
  • Aug 6, 2019 1:59pm Aug 6, 2019 1:59pm
Since I am betting on the slow EURUSD decline for the next 3months... I would explore the trading of BTC against the EUR...
In particular my timeframe is from 22JUN19 on... where the BTCEUR seems to be a rather interesting option also...
Might not be much difference... but maybe just give us a slightly more edge (very important at (leverage) trading)...
if the assumed EURUSD downtrend is correct.

  1. https://www.tradingview.com/symbols/BTCEUR/
  2. https://www.tradingview.com/symbols/BTCUSD/

Can you afford to take that chance?
  • #38
  • Aug 6, 2019 2:35pm Aug 6, 2019 2:35pm
Quoting auricforecas
Since I am betting on the slow EURUSD decline for the next 3months... I would explore the trading of BTC against the EUR... In particular my timeframe is from 22JUN19 on... where the BTCEUR seems to be a rather interesting option also... Might not be much difference... but maybe just give us a slightly more edge (very important at (leverage) trading)... if the assumed EURUSD downtrend is correct. https://www.tradingview.com/symbols/BTCEUR/ https://www.tradingview.com/symbols/BTCUSD/
Which platform/broker are you using there?
4&1 All Time Profit: $37,496
  • #39
  • Aug 6, 2019 2:43pm Aug 6, 2019 2:43pm
Quoting MzansiObi
{quote} Which platform/broker are you using there?
For BTC/EUR? No broker as of yet, exploring the option of trading this pair (with) leverage with a good/reliable broker..

For base (backup) prices I use mainly... https://bitcoinity.org/markets

for BTC EUR pairing... I am atm checking the ones listed here..
https://www.bitcointradingsites.net/features/euro/

If anyone has a suggestion for BTC/EUR trading (with leverage)... brokers suggestions are most welcome.
Can you afford to take that chance?
  • #40
  • Aug 6, 2019 3:06pm Aug 6, 2019 3:06pm
Quoting TMR
{quote} I have funded accounts on both exchanges. Bitmex has the most liquidity and largest orderbook, however their servers are notorious for "overloading" when there are large price swings. Deribit is the next best alternative but only does about 10% of Bitmex's 24H trade volume.
Thanks TMR. Bitmex isn't available in US - so looking at other options. Leaning to Kraken - looks like a pretty strong combination of factors including:

  1. Reasonable verification process - 1-5 days - not instant, but also gives lots of other options
  2. Fiat Currency support
  3. Fees seem reasonable - Maker .16% / Taker .26% for $0-50K monthly trading volume. Goes down from there. Withdrawal fee on XBT is 0.0005.
  4. Access to futures (50:1 leverage) and general margin trading (5:1)
  5. Ties into Trading View for strong charting options.
  6. Strong list of currency pairs for trading

Any thoughts?

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