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Bitcoin technical analysis

  • #8,801
  • Jan 20, 2021 4:45pm Jan 20, 2021 4:45pm
Bitcoin had a good ATR of 3367 today but went down $1,450. I guess there was no consolidation.
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  • #8,802
  • Jan 21, 2021 4:15pm Jan 21, 2021 4:15pm
Bitcoin had a very good ATR of 4744 today but on the way down losing $3,708. Where did the bull go?
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  • #8,803
  • Jan 22, 2021 4:01am Jan 22, 2021 4:01am
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Can someone explain this one?

Dukascopy orderbook showing orders of 1 000 000 coins on bid and ask?
That you be about 5% of all coins in circulation?

95% of retail crypto traders trading on Dukascopy will probably trade with sizes below 1 bitcoin.

This liquidity shown here is most likely not real.
  • #8,804
  • Jan 22, 2021 7:03am Jan 22, 2021 7:03am
Quoting HudithePfupf
{image} Can someone explain this one? Dukascopy orderbook showing orders of 1 000 000 coins on bid and ask? That you be about 5% of all coins in circulation? 95% of retail crypto traders trading on Dukascopy will probably trade with sizes below 1 bitcoin. This liquidity shown here is most likely not real.
Like many ECN forex brokers they are also market makers so if liquidity is lacking they take the other side of the transaction. I'm also 100% convinced that the 1 million liquidity is not real but that doesn't mean that Dukascopy could not execute large transactions in excess of their real liquidity.
  • #8,805
  • Jan 22, 2021 1:19pm Jan 22, 2021 1:19pm
Quoting HudithePfupf
{image} Can someone explain this one? Dukascopy orderbook showing orders of 1 000 000 coins on bid and ask? That you be about 5% of all coins in circulation? 95% of retail crypto traders trading on Dukascopy will probably trade with sizes below 1 bitcoin. This liquidity shown here is most likely not real.

In my opinion, the reason is that BTCUSD is not real bitcoin but LEVERAGED CFD.
Like when we trade gold, we are trading CFD (paper gold, not physical gold ).
You can add to that volume fake liquidity and other tricks.
  • #8,806
  • Jan 22, 2021 4:34pm Jan 22, 2021 4:34pm
Bitcoin had a very good ATR again today starting the day down but recuperating with a gain of $2,139.
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  • #8,807
  • Jan 23, 2021 5:03am Jan 23, 2021 5:03am
Quoting Hutch
{quote} Like many ECN forex brokers they are also market makers so if liquidity is lacking they take the other side of the transaction. I'm also 100% convinced that the 1 million liquidity is not real but that doesn't mean that Dukascopy could not execute large transactions in excess of their real liquidity.
I bet if you would drop a 750000 BTC buy or sell order Dukascopy wouldn't fill such an order at the price they display liquidity on bid or ask of 750000. The displayed orders would vanish, the order certainly not filled at the price displayed or filled a much worse price. I doubt the would even fill an order of 7500 BTC at the displayed price, since the real trading volume from their customers is much smaller.

They have last look principle and can decide whether to fill your order or not.

So in reality they fake an order book liquidity that isn't there und therefore simulating a trading envoirement that isn't real. Same is likely true with a lot of the other CFD crypto trading plattforms globally.... The whole crypto CFD trading industry is a hollow shell. Fake and rotten to the core.

As long as regulators allow this industry to manipulate on an epic level, it's a gold mine for the trading plattforms and those who control the manipulation.
  • #8,808
  • Jan 23, 2021 9:26am Jan 23, 2021 9:26am
btc bitcoin btcusd Crypto cryptocurrency beautiful
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MT4, QChartist, Stooq, Alpha Vantage, TC 2000, TradingView, Yahoo Finance
  • #8,809
  • Jan 23, 2021 11:10am Jan 23, 2021 11:10am
btc bitcoin btcusd Crypto cryptocurrency beautiful too
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MT4, QChartist, Stooq, Alpha Vantage, TC 2000, TradingView, Yahoo Finance
  • #8,810
  • Jan 23, 2021 4:02pm Jan 23, 2021 4:02pm
Bitcoin not having a great weekend so far losing $1,082.
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  • #8,811
  • Jan 24, 2021 4:11pm Jan 24, 2021 4:11pm
Bitcoin went down $454 today for an overall loss $1,536 this weekend.
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  • #8,812
  • Jan 25, 2021 4:20pm Jan 25, 2021 4:20pm
Bitcoin somewhat recovered gaining $928 today or 60% of its weekend loss.
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  • #8,813
  • Jan 26, 2021 4:12pm Jan 26, 2021 4:12pm
Looks like the recovery was premature with Bitcoin losing $708 today with a relatively low ATR of 2012.
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  • #8,814
  • Jan 27, 2021 4:20pm Jan 27, 2021 4:20pm
Bitcoin lost $1,022 today with an average ATR of 3118. Bitcoin is having a rough time since the last time it went up was last Friday.
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  • #8,815
  • Jan 28, 2021 4:27pm Jan 28, 2021 4:27pm
Finally Bitcoin had a good day gaining $2,299 with a good ATR of 3468 that produced many good trades.
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  • #8,816
  • Jan 29, 2021 3:33pm Jan 29, 2021 3:33pm
Dear WallStreetBets: Hedge Funds Are Very, Very Short Bitcoin
  • #8,817
  • Jan 29, 2021 4:26pm Jan 29, 2021 4:26pm
Quoting infinitus
Dear WallStreetBets: Hedge Funds Are Very, Very Short Bitcoin
Nice article but Bitcoin went up $1,312 today for a total of $3,611 in the last two days. Will hedge funds get burned as they did with Game Stop?
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  • #8,818
  • Jan 30, 2021 4:03pm Jan 30, 2021 4:03pm
Bitcoin went down $145 today but at one point it was down a lot more before recovering.
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  • #8,819
  • Jan 30, 2021 4:50pm Jan 30, 2021 4:50pm
Quoting Hutch
{quote} Nice article but Bitcoin went up $1,312 today for a total of $3,611 in the last two days. Will hedge funds get burned as they did with Game Stop? {image}
Hi Hutch,

I hope so. I never liked the Hedge-Fund crowd, and since their Gamestop debacle, and being a bad looser, there is no sympathy left for them.

I think BTC is in such corrective phases mainly driven by the miners. Data shows, that they started to sell around 40.000. Do not get caught on the wrong side in this game. Usually they (whales) sell (collectively) and buy back with discount. Then rinse and repeat for a while.

Yesterday was driven by Elon Musks Twitter post regarding BTC, but had until now no follow through.

Being an Elliott Wave analyst, I do expect an new low around 27.000 to 28.000.

We will see. Since BTC is prone to action of whales, I am not really shure, if Elliott Wave is the right tool to analyze. Maybe in the future, when many more individuals will substantially trade in this instrument.
  • #8,820
  • Jan 30, 2021 10:52pm Jan 30, 2021 10:52pm
even today, the bears will be in the winning position.
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