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BTCUSD daily price action

  • #61
  • Aug 7, 2019 8:41pm Aug 7, 2019 8:41pm
Quoting Goat
Get out while you can bud! Never short bitcoin! Even the bears don't short bitcoin!!!
You gotta play both sides sometimes . I won't bet against it in the long run, that is true but sometimes I feel a pull back. So far my spidey senses were a bit off on this one though.
If you like my post throw me a Doge: D85YHaQ6nQTp4oT13sHoAZbETn3sADVnF8
  • #62
  • Aug 7, 2019 10:32pm Aug 7, 2019 10:32pm
Quoting iggiduckets
I also wish there was a legit US broker.
Ditto!
  • #63
  • Aug 8, 2019 12:15am Aug 8, 2019 12:15am
Quoting g-force
{quote} You gotta play both sides sometimes . I won't bet against it in the long run, that is true but sometimes I feel a pull back. So far my spidey senses were a bit off on this one though.
Most assets trade seasonally

As an alternate store of wealth Bitcoin currently trades in a similar pattern to Gold

I am able to make good pips with this awareness
  • #64
  • Aug 8, 2019 1:01am Aug 8, 2019 1:01am
Quoting Goat
We're back to the 12K test. Let's see if she'll break! {image} 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.
Thanks for the heads up...just pulled the cross up aswell on the IC account I see the spread ain't all that bad and well atleast I have made withdrawals with IC without fail......so will definitely give it a whack here
4&1 All Time Profit: $37,496
  • #65
  • Aug 8, 2019 1:05am Aug 8, 2019 1:05am
Gonna try calculate some pivots and support and res. Levels with this thing and see how it goes over a period of a month or two......


See how it plays out on the medium/to long term.......
4&1 All Time Profit: $37,496
  • #66
  • Aug 8, 2019 1:29am Aug 8, 2019 1:29am
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  • #67
  • Aug 8, 2019 1:29am Aug 8, 2019 1:29am
Quoting g-force
{quote} You gotta play both sides sometimes . I won't bet against it in the long run, that is true but sometimes I feel a pull back. So far my spidey senses were a bit off on this one though.
Well I hope you're still in the short because it's looking good out there for ya!

If you pull of a decent sized win on the short side of this market I will be very impressed Gforce.

Quoting MzansiObi
atleast I have made withdrawals with IC without fail


Welcome to the crazy world of bitcoin MzansiObi. It's quite fun, like the old days of forex.

Are you going to hook up to a TE?

Quoting DonFF
Bitcoin currently trades in a similar pattern to Gold
That's relationship only started in the last few weeks, and like all relationships, it's probably not going to last.

I'm watching it closely regardless.
  • #68
  • Aug 8, 2019 1:50am Aug 8, 2019 1:50am
Only a Higher High will trigger a buy trade.
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Money moves the market, not an indicator.
  • #69
  • Aug 8, 2019 3:09am Aug 8, 2019 3:09am
Quoting g-force
I'm shorting BTC atm. 12k was a strong resistance point based on price action and the move lower has some steam. {image}
Make sure you have your SL in place . You don't want to get liquidated with a short squeeze.
Money = Labour coupons
  • #70
  • Aug 8, 2019 8:15am Aug 8, 2019 8:15am
BTC: Price: $11,900 | MCAP: $212 billion | 24-Hr Volume: $22.04 billion

Short-term trend: Bullish

Bitcoin closed at $11,971 on Bitstamp yesterday, confirming an upside break of the bearish channel on the daily chart. Essentially, Wednesday's close confirmed an end of the six-week-long price pullback from the high of $13,880 hit on June 26 and the resumption of the bull market.

The breakout would gain credence once prices clear Wednesday’s high of $12,145. That would invalidate exhaustion or mark an upside break of consolidation represented by yesterday’s inside bar pattern.

A break below Wednesday’s low of $11,388 would weaken the bullish case. That level could come into play in the next 24 hours if the symmetrical triangle seen on the hourly chart is breached to the downside.

Long-term trend: Bullish

Bitcoin snapped its five-month winning streak with moderate losses in July. More importantly, the cryptocurrency created an inside bar candle, a sign of consolidation or exhaustion following a stellar rally from April's low near $4,050.

The path of least resistance remains to the higher side as the bullish structure on the monthly chart is intact.

The 5- and 10-month moving averages continue to trend north, indicating a bullish setup. Further, on the 3-day chart, the 50- and 200-candle moving averages (MAs) have produced a golden crossover, the first since Feb. 3, 2016.

However, a deeper correction to $7,500 cannot be ruled out, if prices drop below $9,049, validating the inside bar pattern.
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Money = Labour coupons
  • #71
  • Aug 8, 2019 11:24am Aug 8, 2019 11:24am
Someone once told me to trade in the same direction as my long term outlook, which is probably why I couldn't short the other day. I'm in long now... Target 11,900
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  • #72
  • Aug 8, 2019 12:04pm Aug 8, 2019 12:04pm
Quoting TMR
BTC: Price: $11,900 | MCAP: $212 billion | 24-Hr Volume: $22.04 billion Short-term trend: Bullish Bitcoin closed at $11,971 on Bitstamp yesterday, confirming an upside break of the bearish channel on the daily chart. Essentially, Wednesday's close confirmed an end of the six-week-long price pullback from the high of $13,880 hit on June 26 and the resumption of the bull market. The breakout would gain credence once prices clear Wednesday’s high of $12,145. That would invalidate exhaustion or mark an upside break of consolidation represented by yesterday’s...
Sizeable buy dips definately my outlook too.....
4&1 All Time Profit: $37,496
  • #73
  • Aug 8, 2019 1:10pm Aug 8, 2019 1:10pm
Quoting DonFF
{quote} Most assets trade seasonally As an alternate store of wealth Bitcoin currently trades in a similar pattern to Gold I am able to make good pips with this awareness
I agree! Seasonality, trend etc that's something to keep an eye on. I have not noticed the correlation to gold but I would not be surprised to see some similarities.
If you like my post throw me a Doge: D85YHaQ6nQTp4oT13sHoAZbETn3sADVnF8
  • #74
  • Aug 8, 2019 1:13pm Aug 8, 2019 1:13pm
Quoting Goat
{quote} Well I hope you're still in the short because it's looking good out there for ya! If you pull of a decent sized win on the short side of this market I will be very impressed Gforce. {quote} Welcome to the crazy world of bitcoin MzansiObi. It's quite fun, like the old days of forex. Are you going to hook up to a TE? {quote} That's relationship only started in the last few weeks, and like all relationships, it's probably not going to last. I'm watching it closely regardless.
Yep I hit my TP . Not sure what you consider decent sized but I cashed in about $61 on my trade. Not bad for a small account
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Next up.. Ripple short.
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If you like my post throw me a Doge: D85YHaQ6nQTp4oT13sHoAZbETn3sADVnF8
  • #75
  • Edited 2:01pm Aug 8, 2019 1:19pm | Edited 2:01pm
Quoting TMR
{quote} Make sure you have your SL in place . You don't want to get liquidated with a short squeeze.
I wish. Haven't seen SL functionality with these guys. I manage the positions though.
If you like my post throw me a Doge: D85YHaQ6nQTp4oT13sHoAZbETn3sADVnF8
  • #76
  • Aug 8, 2019 2:25pm Aug 8, 2019 2:25pm
Quoting g-force
{quote} I wish. Haven't seen SL functionality with these guys. I manage the positions though.
How do you sleep
  • #77
  • Aug 8, 2019 3:57pm Aug 8, 2019 3:57pm
Quoting Hasher
{quote} How do you sleep
I take that back, they do have it but it was buried in nonsense terminology. I added an SL to my current open trade.

I was really using the liquidation price as a SL before anyway . Adding my new SL to the trade I have open right now just reduced risk a bit
If you like my post throw me a Doge: D85YHaQ6nQTp4oT13sHoAZbETn3sADVnF8
  • #78
  • Aug 8, 2019 4:13pm Aug 8, 2019 4:13pm
I'm also pushing a BTC long @ 11,586 target 11,780
If you like my post throw me a Doge: D85YHaQ6nQTp4oT13sHoAZbETn3sADVnF8
  • #79
  • Aug 8, 2019 4:27pm Aug 8, 2019 4:27pm
Quoting g-force
I'm also pushing a BTC long @ 11,586 target 11,780
Approaching TP..
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If you like my post throw me a Doge: D85YHaQ6nQTp4oT13sHoAZbETn3sADVnF8
  • #80
  • Aug 8, 2019 4:39pm Aug 8, 2019 4:39pm
Quoting auricforecas
Well did the trumps tweet about the FED "joke" settled in already? If so, I would be open to SHORT a little
Well just to quote my timestamped "prediction"... It seems to be good, this time at least... Am considering opening dedicated TE for this.. and post it here... so you can track the signals live.. Also, I must remark.. I love that BTC is 24/7 business I used to be so IN the EURUSD that I felt COLD SHOWERS when the FX market closed... so I traded BTC on the weekend... much slower movements maybe... but when it does move... it is great.. much bigger moves... in % terms... I almost didn't miss the leverage.. or were ok with 10:1 So more signals might follow... will just re-test my BTC trading skills, before posting.... to avoid bull-shit
Can you afford to take that chance?
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