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Bitcoin - There's Levels to This! Fibonacci & Cluster AnalysisThis is a 1-hour chart of BTCUSD on Bitstamp. From the high this past July to the current price, it is clear that price is pivoting back and forth between key levels. Those key levels are: - 0.382 - 0.5 (not a Fib level but still a useful level of support/resistance) - 0.618 - 0.786 - 0.886 From the Fib off of the high around $13.9K to the low around $9K, we see clustering around the following levels: - 0.382 - 0.618 From the Fib off of the low around $9K to the high around $12K, we see clustering around the following levels: - 0.786 - 0.886 From the Fib off of the high around $12K to the low around $9.3K, we see clustering around the following levels: - 0.5 - 0.382 I think it's paramount to study and trade off of levels. Use levels along with price action, market structure, volume, and location. Otherwise, if you just rely on indicators, you are simply guessing where price could go. Indicators tell you about the PAST. It's time to get smarter with our trades.
BITSTAMP:BTCUSDEducation
by realcapmillen
The constructor of your trading algorithmHi friends, today I want to share the constructor of your trading algorithm. I want you to take a piece of paper and a pen and answer these for yourself And this will be your individual trading algorithm 1. Trade style Decide how you are going to trade Choose your style -  Short term -  Swing trading -  Medium term - Scalping - Carrytrade - News StraddleTrade - Long term - Other 2. Write more specifically here, what time will you work? Indicate the hours of your work at the terminal 3. What's is stopping you from trading? Here you should list ALL moments that can confuse you in trading. I do not trade if:   - Bad mood   - I'm drunk (a), or fun) - I'm sick   - Exceeded (a) the established level of risk for a day, week, month   - On the day of the release of important economic indicators   - Bank holiday period   - At the end of the fiscal year   - At the beginning of the fiscal year   - Other 4. Trade Details: Describe in detail all the situational moments in the trade I am analyzing yesterday's deals    Yes    Not My instruments (what I trade) __________ What type of analysis do you use ___________ What patterns do you trade -add files What important economic news do I see on the calendar ___________ I am doing a general market analysis on such timeframes ___________ What indicators do I use (indicate names and settings) ___________ Signals to enter the market, i.e. when I enter the market ___________ Pictures of situations ___________ I trade such a market model based on price levels add files For me, the signal to enter the market is a SELL order based on price levels    Price trading below the level after the breakdown of the level (breakdown of the level)    Price trading below the level without breakdown (reversal from the level) In pictures it looks like this _________ The signal to enter the market is a Buy order based on price levels for me    Price trading above the level after the breakdown of the level (breakdown of the level)    Price trading above the level without breakdown (reversal from the level) In pictures it looks like this _________ The signal for a false breakdown for me is Maximum permissible risks for my deposit (in%) per transaction, per day, per month: _________ The ratio of profit to loss is    1: 1    2: 1    3: 1    Your option:    Other   After entering the trade for each order, I set StopLoss    Yes    Not After entering the trade for each order, I set TakeProfit    Yes    Not In my trading, I practice partial fixation of the volume of the order (I close the profitable trade in parts) *    Yes    Not What does it look like? Picture* I make sure to work on the bugs *    Yes    Not
BITFINEX:BTCUSDEducation
by EXCAVO
26
BTCUSD Bullish momentum confirmationWhat a beauty move. But be honest...who didn't saw that guys? Just need some manual draws on RSI(20). RSI(20) breakout once, than confirmed twice. Look what caused this on the candles chart: What's next? In the next 45 minutes (before the next 1H close) bitcoin will decide : which direction to keep before this weekend. Be safe: it could be a big bulltrap before weekend - and whales could be tricky, thats why I'm preferred the a SHORT position soon near to 11k - hedging against current profitable LONG. CONCLUSTION * RSI(20) not only good for detecting divergences ( I've wrote a good article here ), but also good for finding the right momentum to entering a trade. * Don't use '"trade and pray" strategy ... it's a noob's way. Better to entering into confirmed trend via the momentums. If you have any technical analysis question - I will answering it today in the comment section!
COINBASE:BTCUSDEducation
by TanukiTrade
Bitcoin Fundamental: hash rate vs price, returns 78% correlationThe graph shows hash rate divided price for bitcoin. The distribution of points is linear, increasing from left to right, indicating a strong positive correlation. A quick check with python shows that Bitcoin price and hash rate have a 78% Pearson correlation taken over the entire history of the market. To put that into perspective, anything above 50% would normally fall into a "high correlation" category. This does not say anything about causation or even future performance, just that as hash rate has been increasing so has price in a fairly linear fashion.
HEducation
by RealMcafee
1
HOW TO GRID TRADE: Keys To Your Lamborghini (A to Z Tutorial)Science Has Proven That Reading This Education Post Will Either Put You To Sleep or Put You On Your Path To That Lamborghini. Let's Start From The Beginning... (Print this entire tutorial as a reference) WHAT IS GRID TRADING? Grid trading is a type of trading, typically managed by a dedicated Grid Bot. In a nutshell, you select a range, you divide your range into equally spaced buy/sell grids (like trip wires, sorta). As prices zigzag up and down, your “trip wires” trigger buys and sells catching profits for you incrementally all along the way! If you start your grid as the market ranges sideways (which is 70% of the time) or when it is in a gradual upward ranging trend (15% of the time) then you are going to make money most of the time. Your goal in grid trading is to have price zigzag within your grid range as long as possible with a price exit from your grid out the top. About 15% of the time the market will ranging downwards but worry not, many times even if price exits the bottom of your grid, you may still earn a profit or at worst, have a minimal loss. Grid Trading requires far less skill and less management than most other types of trading -PLUS- it has far less risk. Many grid traders make better returns from grid trading than they do with any other trading strategy. Can you lose money grid trading? YES, but with a little knowledge losing money is hard. A consistent grid trader is a winning trader. BIGGEST BENEFITS OF GRID TRADING? It reduces your addiction to chart watching. It allows you time to eat, sleep drink and be merry. It allows you to exploit trading opportunities around the clock It allows you to manage your risks without emotions It allows you to follow a predefined trading pattern that often beats the ROI (Return on Investment) you're getting from other hands-on trading strategies. It allows you to trade with less concern about price direction. It may be a faster way to that Lamborghini everyone is always talking about! WHAT DO YOU TRADE EXACTLY? You may trade any cryptocurrency pair. For example, if you have QUOTE currency in USD (or USDT) you would use that to buy a BASE currency (like BTC) within your grid range. It all starts with an initial investment to get the ball rolling Then your BOT will buy or sell an equal amount at each grid line Buy and sell gridline "hits" are replaced with new limit orders gridline-by-gridline as you go along. Buy and Sell fees are whatever your selected exchange charges (over 25 exchanges are available). HOW DO YOU EXIT OR QUIT A GRID If prices exit out the top, you take your money and run! 100% profit. If prices exit out the bottom, give yourself a little wiggle room but you can pre-set a stoploss. Sometimes your earlier grid gains will equal or exceed any loss your stoploss might incur... like magic! Many grid traders only trade assets they don't mind holding (like BTC or ETH) and thus never use a stoploss. Remember: It is far better to take a smaller loss and move your grid to a new range than to get stuck in a coin you do not want to hold. HOW MONEY DO I NEED TO GRID TRADE? $100 would be a good start on the lower end. $1000 (or more) would allow you to run multiple grids simultaneously (which is a good idea). Regardless, you must follow good money management rules and avoid over investing in any one grid. 5% max of your investment capital per grid and never more than 50% of your capital across all grids will keep you in the game so you can maximize your profits. Remember, the Wright Brothers were NOT shooting for the moon at Kitty Hawk. They merely want to get off the ground! 10 REASONS MOST TRADERS ARE NOT GRID TRADING? 1) It's a macho thing. 2) It seems too easy. 3) It seems too good to be true. 4) They've never heard of it. 5) They don't know how to automate the strategy. 6) They love watching charts all day, drawing and re-drawing their Elliot Waves. 7) They paid big money for a signal service and are waiting for the big winning signal. 8) They are waiting to catch the next blast off TO THE MOON! 9) They tried umpteen other strategies and are now flat broke. 10) They thought grids were a side dish often served with bacon and eggs. 12 QUICK TIPS FOR STARTING 1) Open a grid bot account to assist with your automation requirements. 2) Connect your bot to your preferred exchange. 3) Start with a cryptocurrency you trust (BTC , ETH or a top 10 coin) . Something you'd be ok holding (HODL) if worse came to worse. 4) Wait for a market where you expect or anticipate sideways or slowly upward ranging price action. Use my indicators to help you nail winning grid areas. 5) Keep your total grid range (lowest grid to highest grid) within 4% to 8%. 6) Select a grid count that renders your grid spacing (distance between each grid line) to a space comparable to typical zigzags you see in recent price action. Typically a .5% to .6% spacing between gridlines (as measured on your Tradingview chart) is a good place to start. 7) After your settings are enter in your bot, click the BACKTEST button. Double check settings, make tweaks, backtest again until you are happy. 8) Invest MINIMALLY on your first few bots (say $100 or something you can afford to lose) . Think of your first grid bot as a "learning experience." 9) Set a stoploss below your grid (there is a setting within the bot for this). If you don't mind holding the coin if prices temporarily drop, then you can forego a stoploss. 10) Don't dream of riches, instead anticipate all goes well and you get a rather healthy ROI (better than a bank and perhaps better than your trading results/ROI using other non-grid strategies). 11) If your first bot does not go well (worry not, remember the first time you tried to ride a bicycle?) . Review what happened and try again. 3%, 5%, 8% gains might be just around the corner. Many people following my strategies are achieving 20% or more in gains over average 3 to 20 day periods. 12) Give your bot time to "do its magic" (perhaps 3 days, a week or longer) ... as long as prices are within your range, you can leave your grid up and running. Move your grid if price range changes. HOW DO I LEARN MORE? 1) Review my related IDEAS and TUTORIALS (linked below) 3) Explore my GRID INDICATORS (linked Below) HOW DO I AUTOMATE MY GRID STRATEGY? Explore further help and links at the bottom of this tutorial. PLEASE HIT THE LIKE BUTTON (and follow me... lots of great stuff in the works!) As always, I appreciate your support. Please share with others. ENJOY! Dan Hollings Master Crypto Grid Trader Please Explore My Other Indicators, Scripts, Grids and Educational Ideas. @ DanHollings on Tradingview.
Education
by DanHollings
7
DEFENDING ALTSEASON - SHITCOIN MANIFESTOIn this post I will explain why there will be another alt season and alts will perform well at some point against Bitcoin. 1. Shitcoins piggy back on Bitcoin's success. For as long as Bitcoin is doing well, people will try to find the next Bitcoin. Many newcomers will feel they missed the boat or they will simply believe Bitcoin is outdated tech. Most people don't understand what Bitcoin is about, so the moment someone pitches to them Bitcoin 2.0 / 3.0 etc they start believing him. This is mainly based on greed as they think the'll get much better returns by betting on these shitcoins. At the same time whales and everyone here, wants to either increase their Bitcoin stash or USD stash in one way or another... and altcoins are on of the best ways to do so. People can't easily manipulate Bitcoin that is so big and liquid, but they can easily manipulate shitcoins. This is still the wild west! People can form groups to pump and dump these little shits, so they will keep on doing it. Doesn't matter who these people are or who these people will be, for as long as it possible for somebody to do it. Remember that maximum opportunity comes at the point of maximum pain, not before that. Getting a 10-20-30x isn't easy as you have to get in when everyone else wants to get out. You have to be a contrarian and ready to feel pain for some time before you get the big returns. Do you think that all the people that made money in before haven't put or won't put some money back in? When something is down 90-99%, that means that the people that sold high can buy a lot more than what they had for much less, while they don't really feel pressure to sell if it goes up or down a bit as they have already made good money. That's part of the reason these cycles in all markets and not just crypto. Not everyone has lost money and not everyone has lost faith forever. On the other hand it is funny to see people say that nobody could had seen this massive collapse coming. Since mid April I was calling for Bitcoin dominance to 70-77% and for now I am not convinced alts have bottomed. To me their bubble still hasn't completely popped yet and I find it amazing how altcoins are still holding this well. Notice however that I believe we are very close to the bottom... Based on several time analysis I've done and have put it on twitter both price wise and time wise we are getting there. The bottom should have already come and some other analysis says we are 50-120 days away. At the moment I can't see them dropping more than 25-50% from here, so maybe waiting for them to go lower is me being greedy, but I'd like to see them reclaim certain levels before I get in. *Fun fact: Some alts topped in late 2013 - early 2014 and it took them 1100-1200 days to bottom. Just think about that... 2. Fundamentals in the space are complicated and there is no real model to evaluate shitcoins as an asset class. Simplistic models and explanations don't work and should be instantly dismissed. Nothing is as simple as finding one narrative and sticking with it. What I know for sure though is that shitcoins in 2012-2017 had way worse fundamentals in all aspects. Less exchanges, shady exchanges, no funding, worse technology, more pure scams, no regulatory clarity and no fiat on ramps. However they all pumped to insane highs... if you don't believe me go have a look at how several coins survived 2012-2017 on CoinMarketCap, check how much they had dropped, for how long they were falling and despite all that so many of them pumped more than 40x from their bottoms in a 2-3 months. Seriously zoom in and try to imagine how these people felt like. I was in the Bitshares community for quite some time in 2016. That thing was going down forever... Seriously I thought it was dead. As I was growing and I was studying the technicals of Bitcoin, Bitshares and various other projects, I started realizing how flawed alts really were. The claims they were making were insane, unsubstantiated and relied on attracting money to the project. At that time the serial scammer Daniel Larimer left the project, people were having constant fights and all the proposals for improvements were awful. The Chinese community was blocking funding for several proposals and the whole thing was in death spiral. Yet it survived and had one of the biggest bubbles in Q2 2017. Most people that claim shitcoins are dead haven't been there and haven't experienced what several of us have. Looking at charts and fundamentals along is irrelevant. If you don't get the feeling, if you don't see things happening live... You will never understand. Experience can't be substituted with knowledge. I've made and lost money on shitcoins and ICOs, and my biggest mistake was being emotional and saying that: I DON'T INVEST IN SCAMS, THESE PEOPLE ARE FRAUDS, i DON'T WANT TO MAKE MONEY LIKE THIS. I WILL ONLY TRADE BITCOIN AND THAT'S IT. THE CLAIMS THEY ARE MAKING ARE INSANE, THESE PEOPLE ARE JUST GREEDY LIARS, NOBODY WILL BELIEVE THEM! THESE CHAINS WILL BE ATTACKED AND GET WRECKED. This was literally how I was thinking and then they all took off. I seriously got suicidal at the time as people around me where making money off scams and I wasn't. May and June were awful... Every morning I'd wake up with Bitcoin going up and I wanted to die because I missed one of the biggest opportunities of our lifetime. Imagine how you'd feel looking at something going up and up, 50-100-200x in BTC terms from the bottom. Now why would you wanna feel that again? Personally I don't plan to feel this way. 3. Now let's look at some of the fundamentals of shitcoins compared to normal companies: Shitcoins don't have to pay taxes, they don't have specific investors whom they have to satisfy immediately, they can't go bankrupt, they don't have to do buybacks, they could technically survive without employees (Dogecoin), they can print and they have printed their own money which they can use to *bribe* people and they have the incentive to pump the price to make more money from the money they have printed (Ripple). Most aren't promising something right now, but something in the future. They claim they are building the infrastructure and technically this isn't false. They can cut down costs and keep on operating to an extend, until they they both run out of money and they keep getting delisted from exchanges. What they have that Bitcoin doesn't is money for advertising and insane bag holders that will shill their shitcoins to anyone just so that they can be able to get their money back. It has to be understood that there will be more delistings and there will be several alts that will never recover. Having an alt season doesn't mean that everything goes up... Even before 2018 there were many shitcoins that died and are not around anymore. I estimate that until now there have been about more than 3000 altcoins, tokens, ICOs, projects that have died and more than half of the coins on Coinmarketcap are essentially dead or simply listed only on scammy illiquid exchanges that nobody uses. You might think this is bad, but in my opinion it isn't. It is a good thing for the rest of the coins, not bad. The more useless and less liquid alts give their place to new, more 'interesting' assets, the bigger the potential they will have for big pumps. Initially everyone feels the pain as everything is interconnected in this space (as people hold several shitcoins along with Bitcoin), however once more awfully managed / scammy / illiquid projects are gone, the more money can be focused on 'good' shitcoins. The reality is that not everything will pump and the average Bitcoin returns will not be as high as 2017. Larger market caps, more coins now and more coming in, most highly inflationary, fractured liquidity on exchanges, Bitcoin being more scarce, the success of derivatives on Bitcoin and the current infrastructure for institutional investors favoring Bitcoin alone, all mean that alts won't give such great returns and will most likely never reach their old highs again. Yet this doesn't mean they are dead either for reasons I will explain below. 4. The lower alts go the more smart money and whales can buy while there are less sellers. Altcoins can create short term narratives that can fuel demand, they can give incentives for people to hold them (BNB) and staking is a new component that in my opinion will play an instrumental role in this new bull run. The more and more people hold and stake long term, the less supply there is on exchanges making pumps easier as there are less sellers. The current extremely low yield environment globally will make people chase both returns and yields and this is making altcoins extremely attractive. Bitcoin doesn't offer extra returns by holding it, altcoins do. Yes they are scammy and PoS is trash, but most people don't get why. With most other assets being already too high, assets that are down significantly are extremely attractive. There are bubbles and antibubbles. Altcoins are an antibubble while real estate for example is a bubble in many places. Buying assets with inherently high risk at extremely low valuations helps you increase your potential returns substantially. The risk remains the same, but risk to reward x probabilities of success is the formula every investor should look at before making decisitions. It has to be noted that most traditional investors don't believe in Bitcoin, but in Blockchain and Cryptocurrency. Not only that, but their goal is to maximize returns for themselves or their customers, so they are ready to buy anything. They don't care about feelings, revolutions and at a time where making money is really really hard altcoins will most likely be an oasis for them. Most people can't distinguish between Bitcoin and Shitcoins, so people in this space need to separate themselves from the masses. What you know isn't what the market knows, and you need to trade based on both.That's how I fucked up in early 2017, as I thought that the market knew what I knew. This means: manage risk very well, study your picks well, always use TA to get in and out and don't marry your bags. What I find interesting is how people think Coinbase is irrelevant and that there will be no institutional money in shitcoins. Coinbase is extremely important as it holds ~5% of all Bitcoins and is one of the most important fiat gateways. Them listing new shitcoins is very important and Kraken has been following slowly too. What do you think people will do when Bitcoin goes up a lot and they also see these other things next to it go up even more? They will diversify of course... Something that can't go unnoticed is how most big exchanges have been building infrastructure for big players. Creating OTC desks, custodial solutions, indices and even normal fiat on ramps / stablecoins. These aren't just for Bitcoin, but for shitcoins too. It is important to note that none of these existed in before 2018 for shitcoins. Exchanges have a much larger incentive that anyone else to make these things pump and succeed. The higher they go, the more people trade on their platform, the more money they make. These markets run on incentives and exchanges are the most powerful players off all in this ecosystem. A few years ago all shitcoins traded only against Bitcoin on a few illiquid exchanges, but now there are fiat pairs, altcoin pairs, more bitcoin pairs and more established shitcoin exchanges. Not relying 100% of Bitcoin or Poloniex is really important. 6. One of my followers mentioned something about current investors being wiser and avoiding altcoins, which I think is completely irrelevant for several reasons. First of all most of them are already burned out and they don't have much money to put in. Most retail investors in the space are cumulatively worth ~50-100B which in the grand scheme of things is nothing. I am seeing this asset class growing to 20-30T before alts have their final bubble. I can't see why we can't get to the size of the Dot Com x5. Here we are reinventing money, there is a lot more fiat now than back then (thanks Central Banks), it is global, it is easily accessible and it has come at a time where fiat money is dying. No better place to have a mega bubble. So what matters more than anything is new investors coming in and with deeper pockets. The real 'flippening' is when old investors capitulate and new investors, smart money and whales take over. If you haven't noticed already, lots of people from before 2017 are gone because they lost pretty much most of their money or they are simply holding Bitcoin. That's why you don't hear from many people from back then. Burned investors usually don't come back until much later and usually near the top, like all the people that got burned in 2017-2019. The reality is that most people here are doing this to make more money and don't really know what is going on here. Be that Bitcoin or altcoins... Even old investors will eventually start buying them once they start trending. These things trend for a while (be that up or down), and that's why they have these constant cycles. Study the cycles and understand why they occur. Understand why you shouldn't be betting on what is the biggest sin in trading: *this time is different*. This doesn't mean that you should fool yourself and see them as long term investments. Once you do your homework you will understand how this game is being played. At the bottom smart money gets in (smart traders, whales, founders etc) and then they start pumping the shit out of these coins. Then retail money starts following and you get a bubble. This whole thing is about supply demand imbalances, it is all about strong hands taking over and weak hands slowly getting getting shaken out completely. 'Pumpers' need to do specific things to take over and pump the price to a level that they have sufficient liquidity to exit. So first they need a good entry and then they need a good exit as they can't keep pumping shit forever or they'll start losing money. 90% of the people don't like buying things that go down, but they like buying things that go up and this will never change. Most old investors might be able to avoid being the fool at the top, but this doesn't mean that there will be no new entrants. 7. Finally let's get into market caps, potential valuations and how Bitcoin fits in. I'd like to start by saying that shitcoins are very illiquid and these market caps are not real. What matters most is liquidity and who controls the supply. For a shitcoin to go from 10M to 1B you don't need to put 1B in. If you bought most of the supply for 5-10M during depression/capitulation, then with 50-100M you can take that asset to 1B. These market caps are an illusion that will eventually face reality and come crashing down. Markets are irrational most of the time and on the long run they oscillating around a mean/fair/rational valuation. We have seen such things again and again on exchanges like Huobi, where the worst of the worst shitcoins have pulled 10-60x over the last year. 1-10M USD shitcoins being in accumulation for several months, then pumping like crazy and then coming down like crazy Part of the reason why alt seasons last 1-3 months and the down trends much longer, is because people need to chase the market, they must not have enough time to think, they must feel urge to FOMO and then only time and despair can wash them out for a new cycle to begin. When the price go up it doesn't mean that this money has come in the market. All it means is that there is an illusion of wealth being created and the new money that comes in near the top is going straight into the pockets of the smart money. The people that buy afterwards are playing a game of hot potato that is essentially redistributing the losses that don't occur at the bottom, but at the top. During the main phase of the Bitcoin bull run, alts are being used to accumulate more Bitcoin and at the end to accumulate more USD. They serve as an exit for big players. By initially pumping Bitcoin you force people to chase Bitcoin and dump their altcoins, making it a lot easier for you to buy them cheaply. That's why after an altseason Bitcoin is going up stronger and alts go down hard. Bitcoin becomes more scarce and accumulated by strong hands, whereas alts are held by weak hands. So to me smart money either already has or will soon start accumulating altcoins. Big players can't simply buy the top or the bottom, so they always need some time to enter and exit positions, while they might even be sitting on big losses while they are trying to build their position. My initial idea was that we'd first see new ATHs and a big increase in Bitcoin like we did in early and late 2017, but with alts bleeding so much this doesn't seem like a bad place for big boys to enter. They most likely will want to accumulate Bitcoin before the 2020 halving and this doesn't seem like a bad place to do so. We don't have much data on pre-halving alt seasons, but getting an alt season like the one in early 2016 seems pretty logical to me.
CRYPTOCAP:BTC.DEducation
by BitcoinMacro
Bitcoin has come to a head. Don't let your emotions dictate yourEvery time the market to change the plate before and after, is the most prone to make mistakes, many people are not good because of psychological quality, false start, resulting in unnecessary losses, so trading is not only competitive technology, more is to see the psychological quality. As with Texas hold 'em, if you can play a bad hand to the end and win, it's always a mental game. We saw recently bitmex and okex contract position again, yesterday the bitmex XBT sustainable position reached a $1.04 billion contract, this is again approaching the peak value of the first three, I think there must be more empty Armageddon, but just right at the top of the 2 hours appeared deviation, remember I have said before, the first three are at the top of the 2 hours after departure from the formation of the head, my first feeling is to note here, so at the top of the community have prompt you 2 hours, attention should be paid to hedge, do much to stop. I think this is the value of our community, defense is always the best protection. So what's next? I would like to say that every time you know the answer after the market is out, we do not have an eye, so making mistakes is the norm, but the key to trading is not that you do not make mistakes, but after making mistakes to make up. In general, one of the most common mistakes you make is to correct your mistakes as soon as you find them. This habit is not entirely unreasonable, but it is often impulsive, so there is a great chance of making a second mistake. In this case, my advice is don't error correction, but a look at our judgment of what went wrong, if not find the problem after combing, it will, in turn, to go to the market, whether there is the possibility of cheat line (premise is you have the correct transaction logic, trade in the past business strategy winning percentage is higher). If you stop a loss after a big drop, it may be on the floor, so impulse is the devil at this time, to see what will be the next step, then operate, this is the correct logic. Back to the current trend, we see the previous three peaks, all caused by the 2-hour top deviation, the contract position is also long short at the high level to begin to unwind, so the possibility of forming a head here is still very high, but can we short here? Should trapped bulls stop their losses? my advice is, take a look at today's rally, if you don't get on the daily K line of ma6, it is a sign of departure, but more importantly, the trend of macd, if a bearish trend is formed, you must leave the market. As a contract, the daily line of macd cross is the opportunity to short, or else there may be a rush to short the possibility of being cheated.
BITMEX:BTCUSD.PEducation
by peter-l
1
Bitcoin: The end of an EraNot many are able to think long term and realize this, but the cryptocurrency markets have already topped. With summer ending soon, the next 50% price cut might be only a few weeks away. Good news! I was (finally) able to verify and unfreeze an account with a crypto exchange and cashed out most of my money out of this MLM scheme. Now, I have no skin in the game. This means no conflit of interest. I may have been biased in the past (such as when my winning short at 4k was a loser because of Bitmex funding and I posted short ideas even thought I knew - and said it - the price would go up and formed what I called in 2018 a 6 month to 1 year bull market within a larger secular bear market). A few weeks only after US president and several congressmen and white house members publicly announced they have no love for Bitcoin and crypto, as well as French finance politicians (including the president of the G8), Europe central bank, and a few months after the NYAG started fighting the Tether scam, and a congressman (rep. Sherman), and we learned that North Korea used crypto to finance nuclear weapons, catch your breath :p, the white house has published 2 advisories where they explain that Bitcoin has been massively used to buy foreign drugs "precursor chemicals or completely synthesized narcotics primarily sourced from China", China with which they are at war with (trade & political war). The white house is officially asking financial institutions (the advisories were sent to several financial institutions and digital payments companies) to collect crypto data. But it does not end here. Even if criminals do not rush to panic sell before companies involved in crypto start watching them very closely, the price of Bitcoin is not safe yet. Steven Mnuchin, of the U.S Department of Treasury, stated that the authority could ultimately prevent Bitcoin from becoming an “equivalent of Swiss-numbered bank accounts.”. In layman terms this means Bitcoin dies. Sources: Start here www.whitehouse.gov Also, media/search engines. Bitcoin now only thing left going: The ever so praised mighty "halving". I believe it very possible that the price of Bitcoin remains above $3000 until this halving that every one is waiting for. And after this, BTC is done for. On top of that let's not forget that japan casinos are opening in mid 2020. And maybe more to come (online casinos?). Japan represents 20% of the world financial wealth/investing power (while the USA have 25% and europe 30%). Let me remind you how 2017 raging bull market started: It works both ways! Also, more generally, the entirety of BTC existance happened during a massive economical bull market. And now the world stock markets are at levels unseen since 1929. Income inequality is even greater than 1920s 1930s. Socialism is on the rise. Extreme right too. Bonds rates in the world are negative for the first time in history. We are heading towards a great depression. People DO NOT speculate on crazy 50% a day move markets in these times. Especially the rich - which concentrate 90% of the world wealth - they got rich by being careful and "cheap". It is hilarous to me that "crypto believers" that know the rich for being the most cheap people on the planet, also believe they will suddenly go wild and buy cryptos. I would also like to bring your attention to those charts (wall street cheat sheet on 2 timeframes - this is also how 2014 & 2018 behaved): The sentiment at the top of this 2019 bubble was the exact same as the 2013 top one, and the same as the 2017 one. Most big crypto advocates are blatant sociopaths. They have a history of lying and only caring about themselves. Every one knows about it. And yet, BTC investors all drunk the Kool-Aid. Because they were promised immense riches and greed took over. There are 2 kinds of people: - Lottery ticket enthusiasts that fantacize about how much they could make and what they would buy with that money. - Those that can take a step back and look objectively at the facts and the charts, and respect the views of experts with decades of experience and great track records. Just watch how every one is absolutely convinced without the shadow of a doubt the worse is behind them, and how wrong time will prove they were. Can BTC go back to 14k? Yes. But in the next 2 to 3 years will BTC be priced in the thousands or even more? NO. Don't be a fool. The end of BTC is close.
BITSTAMP:BTCUSDEducation
by MrRenev
470
BITCOIN VS GOLDI am seeing divergence in GOLD and BTC. BTC seller pressure and GOLD buying...people are "unsure" in the economy as to what is happening, they don't even want to think about elections, brexit stuff is still happening, JPY yen is getting stronger and BTC has corrected almost 50% this year..Asia holds most of BTC so as it climbs so does Yen alongside trade wars with the US. Lots of movement happening. Trump fuds dollar "too strong" as though it weakens and we keep pushing upward to try to make a new high before the value actually falls here later on....Play it safe everyone ^_^ Yellow Line is Gold...I like seeing when both gold and btc line up and move together...I will expect GOLD to fall and BTC to rise after 2021 opposite of each other for awhile. I want to see both move in the same direction again here in a few months probably closer to Christmas time. Gold chart is high..dont buy high lol...just know it has been rising as BTC has been correcting. That is all this idea is for observing. Thanks everyone!
BITSTAMP:BTCUSDEducation
by AschraM
2
Where BTC goes next? Market doesn't know yet... hey traders, very interesting market sentiment on BTC. currently the market is approaching a key level of support, and reaction on this level will most-likely determine Bitcoin's future direction. for now, be focused on the narrow support area between 9000 and 9500. if bears break and close below it, I will expect bearish continuation to lower structure levels with initial target 7500 if bulls break and close below the falling vertical resistance, I will expect bullish impulse to 11000 good luck!
COINBASE:BTCUSDEducation
by VasilyTrader
1
BTC.D And ETHBTC Triangles Are Supportive For BITCOIN!Hello traders! Today we will talk about Bitcoin and its dominance! Well, as you know BTC Dominance is in the sharp rise and looking at the current wave structure, it doesn't look like it's already topped yet! A potential continuation triangle formation can be also seen in the ETHBTC chart, which means that BTC is still leading! So, in our opinion, based on many more evidences we shared with our members, we believe that BTCUSD should be supportive here and it could easily remain in uptrend, ideally within a big bullish triangle pattern. That being said, as long as BTCUSD is trading above strong 9500 support level, we think that there's room for more upside, so don't fall in love with bears just yet! Be humble and trade smart! Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
BITSTAMP:BTCUSDEducation
by ew-forecast
5