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Bitcoin technical analysis

  • #9,321
  • May 26, 2021 4:56am May 26, 2021 4:56am
Quoting Pip-Miner
{quote} Fine tuning the Bitcoin skills maybe a tweet to musk for a spare 2m during the next drop. {image}
Hi Pip-Miner,

Could you share which broker you are using to trade the BTCUSD instrument
  • #9,322
  • May 26, 2021 6:01am May 26, 2021 6:01am
CoinSpot, etoro . Etoro provides virtual for practicing patience, timing,strategy.
  • #9,323
  • May 26, 2021 8:37am May 26, 2021 8:37am
Quoting infinitus
{quote} Is that true? Your broker took your USD and put it without authorisation in BTC? Oh shit.... But luckily enough you are in profit. :-)
It's 100% true and it happened twice. I think that struggling brokers buy crypto hoping that it will go up in order for them to sell their crypto stash later in order to increase their liquidity. When that doesn't work as planned they run out of liquidity and go belly up. Every year many stock and forex brokers go bankrupt. This is why my main broker has a CAD 1 million per account guarantee in case it goes bust. Sometimes brokers indirectly lie to traders to make them believe that their accounts are safe in case of bankruptcy. For example IKBR Canada has the same guarantee as my broker so no problem. IKBR US states a $1 million per account guarantee in case it goes bust but what it doesn't say is that the total amount payable by their insurer is, last time I checked, a total of $30 million. With thousands of customers the $30 million would have to be divided among all their customers so they would only get pennies on the dollar.
  • #9,324
  • May 26, 2021 8:45am May 26, 2021 8:45am
Quoting swagtrading
{quote} Wow you're one lucky guy!
Not lucky at all the first time a forex broker went bust on me I had over $46,000 in my account and because the broker didn't have a guarantee fund in case of bankruptcy so I lost all the $46k. This is why my main account is with a broker that has the best guarantee in the industry. I also deal with smaller brokers that offer better trading conditions but I withdraw profits just in case something bad happens. If a broker doesn't have a guarantee fund in case it goes belly up only open a small account and withdraw profits often.
  • #9,325
  • May 26, 2021 9:03am May 26, 2021 9:03am
Quoting Hutch
{quote} Really, NPKMG stated that Bitcoin will go up forever {image}
And I state bitcoin will never die. ...obviously, the hate against the government/system never dies !!
Jeez, I hope NKPMG is alright ! ...I mean there's no actual stake here for so much hatred !!
Member
  • #9,326
  • May 26, 2021 10:46am May 26, 2021 10:46am
Quoting Hutch
{quote} Not lucky at all the first time a forex broker went bust on me I had over $46,000 in my account and because the broker didn't have a guarantee fund in case of bankruptcy so I lost all the $46k. This is why my main account is with a broker that has the best guarantee in the industry. I also deal with smaller brokers that offer better trading conditions but I withdraw profits just in case something bad happens. If a broker doesn't have a guarantee fund in case it goes belly up only open a small account and withdraw profits often.
you can also look for broker with offer segregated accounts

Dukascopy for example offers segregated accounts
  • #9,327
  • May 26, 2021 1:46pm May 26, 2021 1:46pm
Quoting infinitus
{quote} you can also look for broker with offer segregated accounts Dukascopy for example offers segregated accounts
Unless there is a regulator that makes sure that all customers' accounts are always segregated, and I doubt that this happens, a broker statement that the accounts are segregated is meaningless.
  • #9,328
  • May 26, 2021 4:23pm May 26, 2021 4:23pm
Bitcoin went up $1,191 today with a very low ATR of 3,438 with a high of $40,886 and a low of $37,448.
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  • #9,329
  • May 27, 2021 2:47pm May 27, 2021 2:47pm
Attached Image
  • #9,330
  • May 27, 2021 2:51pm May 27, 2021 2:51pm
Quoting Hutch
{quote} Unless there is a regulator that makes sure that all customers' accounts are always segregated, and I doubt that this happens, a broker statement that the accounts are segregated is meaningless.
No, that is false.

Segregated accounts should work in this way:

you have a money account at bank A

all your money stays at bank A

this bank A gives guarantee to your broker B

the money does not lie on your broker B account
  • #9,331
  • May 27, 2021 3:58pm May 27, 2021 3:58pm
https://www.msn.com/en-us/money/mark...ies/ar-AAKmzPM
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  • #9,332
  • May 27, 2021 4:40pm May 27, 2021 4:40pm
Quoting infinitus
{quote} No, that is false. Segregated accounts should work in this way: you have a money account at bank A all your money stays at bank A this bank A gives guarantee to your broker B the money does not lie on your broker B account
Sorry to say but it's not false at all. I agree with you when you say "Segregated accounts should work ..." but, unfortunately, should work doesn't cut it and here is the proof. A forex broker called SkyFx and regulated by CySec had segregated accounts in accordance with CySec rules and it still went bankrupt when the manager of the firm transferred the large majority of the broker and traders' funds to another country and flee from Cyprus. It took me 3 months to get my money back only because traders' funds were guaranteed by CySec. Had this happened in a country like Australia that also has a good regulator I probably would have lost all my funds because, unlike CySec, ASIC doesn't have a guarantee fund to protect traders in case a broker goes belly up. I hope that you now understand that segregated accounts are useless unless there is a guarantee fund that protects traders in case of bankruptcy.
  • #9,333
  • May 27, 2021 4:47pm May 27, 2021 4:47pm
Bitcoin went down $343 today with a very low ATR of 3,260 with a high of $40,433 and a low of $37,173.
Like yesterday's chart today's chart looks like Bitcoin trading was in the pump and dump mode.
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  • #9,334
  • Edited 9:19pm May 27, 2021 8:53pm | Edited 9:19pm
BTC (Bitcoin) n H1 Chart

Found RISING WEDGE Pattern ...
And H & S Formation's


NOTE :
In H4 Chart's
Found H and S Formation's too

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Always looking the GREAT, never left GOOD Point...
  • #9,335
  • May 28, 2021 2:17am May 28, 2021 2:17am
Quoting Tsar
BTC (Bitcoin) n H1 Chart Found RISING WEDGE Pattern ... And H & S Formation's NOTE : In H4 Chart's Found H and S Formation's too {image} {image}

BTC in H1 ... Update

Upward for a While ?

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Always looking the GREAT, never left GOOD Point...
  • #9,336
  • May 28, 2021 10:24am May 28, 2021 10:24am
Attached Image (click to enlarge)
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Always looking the GREAT, never left GOOD Point...
  • #9,337
  • May 28, 2021 12:59pm May 28, 2021 12:59pm
Quoting Hutch
{quote} Sorry to say but it's not false at all. I agree with you when you say "Segregated accounts should work ..." but, unfortunately, should work doesn't cut it and here is the proof. A forex broker called SkyFx and regulated by CySec had segregated accounts in accordance with CySec rules and it still went bankrupt when the manager of the firm transferred the large majority of the broker and traders' funds to another country and flee from Cyprus. It took me 3 months to get my money back only because traders' funds were guaranteed by CySec. Had...

Hmmm, I have to ask Dukascopy.

I think they only get hands on my money when I take a position via order. And they only get that amount.

Also Duka has on the accounts in Switzerland a protection of 100.000 CHF per client, whereas the European accounts only have max. 20.000 Euro.

But as always the question is: is there enough money for all customers when the broker/bank goes belly up. Under normal circumstances, when only one or a few banks go belly up, there should be enough money there. But in case of a big banking crisis I suspect that.


Will come back when I have answer from Duka
  • #9,338
  • May 28, 2021 1:19pm May 28, 2021 1:19pm
Quoting Hutch
https://www.msn.com/en-us/money/mark...ies/ar-AAKmzPM {image}

in case you missed it - very interesting and fits

Quoting infinitus
Have you read the following article: long read but worth the time https://crypto-anonymous-2021.medium...e-f8dcf78a64d3 Very interesting observations there. Despite the fact, that different EW counts gave flashing warnings for some weeks now, the circumstances mentioned in above linked article may fuel the decline at the moment. Popcorn, HODL, and keep fresh powder dry :-)
  • #9,339
  • May 28, 2021 1:29pm May 28, 2021 1:29pm
Quoting infinitus
{quote} Hmmm, I have to ask Dukascopy. I think they only get hands on my money when I take a position via order. And they only get that amount. Also Duka has on the accounts in Switzerland a protection of 100.000 CHF per client, whereas the European accounts only have max. 20.000 Euro. But as always the question is: is there enough money for all customers when the broker/bank goes belly up. Under normal circumstances, when only one or a few banks go belly up, there should be enough money there. But in case of a big banking crisis I suspect that....

maybe I mixed something up: primarily I was thinking about the bank guarantee

quote from Duka:

The bank guarantee solution provides great flexibility and efficiency to Dukascopy Bank clients and allows you to keep the funds with your trusted bank in order to access them immediately when required. Bank guarantee can be issued for several accounts, provided they are under the same name for which the Bank Guarantee is issued. Dukascopy Bank accepts bank guarantees for deposits starting from 100'000 USD. All bank guarantee cases are considered on individual basis.
  • #9,340
  • May 28, 2021 1:34pm May 28, 2021 1:34pm
Quoting infinitus
{quote} maybe I mixed something up: primarily I was thinking about the bank guarantee quote from Duka: The bank guarantee solution provides great flexibility and efficiency to Dukascopy Bank clients and allows you to keep the funds with your trusted bank in order to access them immediately when required. Bank guarantee can be issued for several accounts, provided they are under the same name for which the Bank Guarantee is issued. Dukascopy Bank accepts bank guarantees for deposits starting from 100'000 USD. All bank guarantee cases are considered...

Yeah, Hutch, you are surly right. Although I have no answer yet from Duka I found the following:

https://www.brokerxplorer.com/articl...x-brokers-1577

in the lower part of the artikle there are some myths of segregated accounts debunked.

As I read it, general protection is very dependent on the jurisdiction of the broker/bank.


So to have segregated account is very good, but may be not totally safe. Best solution is the banking guarantee. But that are only a few broker offering, and in all cases I know it requires fairly high deposits in the guaranteeing bank account.
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