Bitcoin trading calls

Quoting ngonlip

Disliked

a pump here maybe {image}

Ignored

Quoting Olu

Disliked

Finally, a bit of weakness is showing up in price. No surprising though as we are nearing the end of play for the American stock market session (not for bitcoin though) Profit taking. If you had all that run up as profits wouldn't you pocket some? reduce size going into the weekend? {image} {image}

Ignored

Quoting Zappa

Disliked

Just went short with stop at yesterday's highs. It shouldn't be dropping if it was destined for a big bull run i dont think. There are the gaps below and trendlines to break. Could be a big drop. Target unknown for now

Ignored

Quoting Mitiblotch

Disliked

Carefuly, guys. Trump says they are still talking and he'd have info by the end of the day.

Ignored

Quoting Olu

Disliked

{quote} Well done on that short. The straits are closed again. If by Monday they are not open or there is some bombing there could be gap downs in the markets closed over the weekend. For bitcoin I would expect it the give back loads. On my chart the red box is the friday's price action. 80k is now resistance. 60k is support Don't forget the bearish ascending triangle with price near the very top {image}

Ignored

Quoting Zappa

Disliked

Zooming out to a weekly chart in log scale, its starting to look like we could not only be in for new lows, but possibly a break of the blue TL. The next one (green) would be tested around 40k. Bitcoin is trying to run away from all the trendlines below (hourly chart previously posted), but that only works for so long. In a strong market where the trend is firmly established, it can run for a long time, but yet another failure to continue onwards after making a new high yesterday strongly raises the possibility that we are heading back down to break...

Ignored

Quoting Olu

Disliked

{quote} 40k??? Even in my bearishness I didnt think that low. But looking at it closely if there is a breakdown of the channel even just projecting down the width of the channel the target is nearly there. The long term holders (buy and hold for dear lifers) must sell for that to happen. NB: After all this bearishness has played out (if it does) I am very bullish because there will be the mother of all QE and interest rate cuts in the West. Fundamentally speaking. I will try to put up an EW chart later

Ignored

Quoting Zappa

Disliked

One thing I've noticed about CME gaps is when the market moves from the close in one direction an appreciable amount the chances of a big gap that doesn't get filled for a long time is greatly increased. For example, BTC closes on CME at 77,400, and barely makes it past 77,500 before dropping all the way to 75.800....like what just happened. If it had gone to 78,100 after close and then dropped, I think the gap will get closed fairly quicky. But it dropped from basically exactly where it closed. Its no guarantee, just something I've noticed

Ignored