BTC is STILL looking really heavy on the 30M.
The Bigger the Boob, The More Buckles on it's Bra
Trading Bitcoin with Trend lines and S/R
In the last overview about #BTC market (posted 2 days ago), I wrote:
.. as #BTCUSD is trading above 7900, I expect an attempt to breakout line A.
Since that time, price increased from 7900 to 8200. Let's do update.
1) After break-out of line A...
2) ...price did advance up to 8400. Study carefully the character of up-wave in point 2. It consists of 3 up-bars. Every next up-bar has bigger volume than the previous bar. And every next bar has smaller bullish progress in comparison with the previous up-bar. This is EVRT - big Effort Versus small Result. EVRT tells about Supply swamping Demand. Sellers activated above 8400.
3) This is SLKT - stop-loss killer at the Top. It: a) knocks out sellers who placed their SLs above the high of Point 2 and b) involves bulls in buying. This is pure manipulation. That is why you can see...
4) ... fast decline after SLKT pump bar. The chart tells, market is not interesting in holding above 8400 figure.
5) SLKB brings some bullish impulse to market. But it seems, buyers will not capable to develop a powerful pump and breakout 8400 resistance.
IMO, negative sentiments are growing again
.. as #BTCUSD is trading above 7900, I expect an attempt to breakout line A.
Since that time, price increased from 7900 to 8200. Let's do update.
1) After break-out of line A...
2) ...price did advance up to 8400. Study carefully the character of up-wave in point 2. It consists of 3 up-bars. Every next up-bar has bigger volume than the previous bar. And every next bar has smaller bullish progress in comparison with the previous up-bar. This is EVRT - big Effort Versus small Result. EVRT tells about Supply swamping Demand. Sellers activated above 8400.
3) This is SLKT - stop-loss killer at the Top. It: a) knocks out sellers who placed their SLs above the high of Point 2 and b) involves bulls in buying. This is pure manipulation. That is why you can see...
4) ... fast decline after SLKT pump bar. The chart tells, market is not interesting in holding above 8400 figure.
5) SLKB brings some bullish impulse to market. But it seems, buyers will not capable to develop a powerful pump and breakout 8400 resistance.
IMO, negative sentiments are growing again
Oleg Alexandrov, market analyst. Find me in Google
{quote} I trade on CoinBase for about three years. During price movements spread can easily exceed $10. And don't forget about slippage that can be substantial depending on size of your order. I consider that high spreads at FX brokers is kind of fee for leverage and ability to take short positions (two things that CoinBase does not have).
Right on yg!{quote} evolve has usually single digit spread and cryptorocket $17 - $25.
I've been buying dips this whole time.... I'm going to fund a leveraged account and play around abit.
In the last overview about #BTC market (posted 2 days ago), I wrote: .. as #BTCUSD is trading above 7900, I expect an attempt to breakout line A. Since that time, price increased from 7900 to 8200. Let's do update. {image} 1) After break-out of line A... 2) ...price did advance up to 8400. Study carefully the character of up-wave in point 2. It consists of 3 up-bars. Every next up-bar has bigger volume than the previous bar. And...
The Bigger the Boob, The More Buckles on it's Bra
{quote} I trade on CoinBase for about three years. During price movements spread can easily exceed $10. And don't forget about slippage that can be substantial depending on size of your order. I consider that high spreads at FX brokers is kind of fee for leverage and ability to take short positions (two things that CoinBase does not have).
- #216
- Edited 2:05am Oct 4, 2019 1:54am | Edited 2:05am
- Joined Dec 2015 | Status: Trader | 14,257 Posts
{quote} Woah, killer break!...10K next, then McAfee's 1 million ?
{image}
- trading with trend lines and S/R is the best -
Member
- #218
- Oct 5, 2019 12:24am Oct 5, 2019 12:24am
- Joined Dec 2015 | Status: Trader | 14,257 Posts
About spreads, greedy brokers... guys, crypto is so volatile that you don't need brokers!...
2 years ago we have invented the "wallet trading" ..simple leverage 1:1, avoiding pachidermic spreads...
There was different rate in growth (if bullish market) between the agile new altcoins and lazy old papa bitcoin.
So, you even can play arbitrage...
Not exactly but sort of triangular arbitrage like :
- put your bucks in altcoin A at P1 (buy)
- papa bitcoin goes up 3% dragging on the altcoin market;
- altcoin A jumps 10% at P2, and you turn it into bitcoin (sell)
- you get a net profit of 7% in bitcoin
- ...repeat after some bitcoin retracement... turn bitcoin into altcoin(buy), wait another rally, turn altcoin into bitcoin (sell), wait another retracement....... repeat
I'd call it "bitcoin relative stability style" next to crazy hot altcoins
No broker, no leverage, no spread ...wallet trading! lol
Well, I guess you need 10K gaming money, ...then use for one trade shot just 1K to make +100 dollars and keep the risk to 1% for such an altcoin 10% speculation...
(simple drill: capital 10K, 1K per position, TP/SL is 10%, account risk 1%, lev. 1:1......)
2 years ago we have invented the "wallet trading" ..simple leverage 1:1, avoiding pachidermic spreads...
There was different rate in growth (if bullish market) between the agile new altcoins and lazy old papa bitcoin.
So, you even can play arbitrage...
Not exactly but sort of triangular arbitrage like :
- put your bucks in altcoin A at P1 (buy)
- papa bitcoin goes up 3% dragging on the altcoin market;
- altcoin A jumps 10% at P2, and you turn it into bitcoin (sell)
- you get a net profit of 7% in bitcoin
- ...repeat after some bitcoin retracement... turn bitcoin into altcoin(buy), wait another rally, turn altcoin into bitcoin (sell), wait another retracement....... repeat
I'd call it "bitcoin relative stability style" next to crazy hot altcoins
No broker, no leverage, no spread ...wallet trading! lol
Well, I guess you need 10K gaming money, ...then use for one trade shot just 1K to make +100 dollars and keep the risk to 1% for such an altcoin 10% speculation...
(simple drill: capital 10K, 1K per position, TP/SL is 10%, account risk 1%, lev. 1:1......)
Member