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Is Bitcoin Going For The Coffee?Hello dear crypto friends, grandpa BTC perfectly broke out yesterday as we had been analysing over the last couple of trades. Since I'm personally in a position, I wanna explain to you how you would've had to play this setup. Have fun watching! ;) If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to other people then. Make also sure to follow me so you get notified on my Crypto Analyses! I wish you a good trading! :) Edgy is providing online mentorship & trading metrics only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
BITFINEX:BTCUSDEducation
by Edgy_
5
Bitcoins consolidation phase, in it or still towards itPast days i have been showing in my channel that we are very likely at an important stage. It's either a continuation of the rally (which i think is too soon, but would fit the parabolic movement and madness of the past 2 months, i mean, it's Bitcoin :) ). A better, healthier scenario would be to make a much bigger consolidation coming period before we move up again. As always, can go both ways, but let me explain my thoughts a bit. Me personally, even if we see 16K next week, to me the chances will remain very big that we can dump just as fast again. Explained this several times past months, even during the 3K prices. When a market moves up extremely fast without a good retest and consolidation, it will always remain very nervous/fragile because there is no real backup (the consolidation before the rally continues) to find support again. Maybe think of it as the 6K zone in 2018. How many times did the price dump to that level and bounced up again. That's what called a real support zone, because everyone can see it and not many people will panic sell when it reaches that level. That the 6K eventually broke is a different story. Simply said, after many retests for 10 months, the market just didn't have enough confidence to go higher. I explained this during the rally to 13.900 as well. We moved up extremely fast since the 7500/8000 and people (retail and pro money) tend to increase the positions when an asset is very bullish and the positions is already at a very comfortable profit and a wide distance from the Break Even point. So when the positions pile up (so getting a higher average price because of increasing at higher prices), what happens when the price makes a big correction? We see a lot more profit taking than usual. So it seems as if the market is super strong, but to me it's not. With that i mean long term. With this i mean, would i prefer to see a parabolic move just to see it dump again? Or would i prefer to see a 3/6 month consolidation above the 8k or maybe even 9k. If we get a level coming period that, with time gives the impression it's impenetrable (like the 6K in 2018), how much more comfortable would traders and investors be to get in at that support. Even new money would be much more likely to get if we get a huge support zone. Think everyone has seen (and prob felt) the 4k drop from the high 2 weeks ago. So in general for me personally, the faster we move up, the more cautious i will be. We should never forget, even though fundamentals have changed a lot past year, this is still a speculation market. Speculating that Bitcoin/crypto might become the real deal. If it were facts, price would have been much higher already. Maybe compare it a bit with Gold, also a speculative market. There is a fundamental part to it as well, just like Bitcoin, but also a lot of speculating. The more experienced traders might remember the Gold Rush of 2005/6. Where so many people were already talking about 5K prices for Gold. I actually talked about this a lot in during the ATH of Bitcoin. Where i compared the Gold rush to Crypto. Back then, we had Gold (Bitcoin) and Silver (maybe ETH) that were extremely hyped and popular. Gold and Silver would replace fiat money, many people were just as convinced as we see now with crypto. What did we have back then as well? The gold and silver mines, you can compare them to the alt coins. There were countless silver/gold mine stocks that made similar gains as alts coins. Moving up from 0.05 cent to a few dollars. Back then i was telling people who asked me for my opinion, almost the same thing as the past year or 2. Most had market caps of 20 to 200 mil and therefore extremely easy manipulated. In my home town there was 1 particular silver mine stock that most talked about. I kept telling them, it's all of you who is pushing up the price. You need to understand, daily volume was like 100k to 1 mil on a good day. So if someone wanted to buy worth 50k, he would prob double the price himself because of it. Something we have seen a lot in crypto with the Pump & Dump schemes. Nowadays, social media is much bigger than 10/12 years ago. I did not see a lot of online talk as we are seeing with crypto nowadays, maybe not even 1% then of what we have now. Without sounding to negative, my general advice was to them was: At least know what your buying and not what OTHERS are telling. In general never trust anyone who tells you to do something when they have (a significant) stake in it themselves as well. Kept saying this countless times during the ATH of Bitcoin as well and i will keep saying it. Of course people who have millions in Bitcoin will tell you that it's the real shit. Of course a crypto fund manager will tell you Bitcoin will go to the moon. Do they even have another choice? Selffulfilling prophecy is a very strong tool!! When enough people believe something will happen, without knowing it, they will buy the price up themselves to make it happen. But this is all short term, because if something isn't for real (settled fundamentals), within a few months to a few years it will eventually come down again. To the chart now, trying to show what i mean with a bigger consolidation, not in price but in time. The 2015/16 rally also shows that real consolidations take much more time, same as the Gold chart above. Now even i can accept that Bitcoin moves much faster than traditional assets, but when look at other moments we can still see that the current consolidation of 2 weeks ia very small. However, what i can't say or know, is this just another small correction before making one more move up for the bigger consolidation. Meaning, are we in the blue or yellow circle of 2016. That i can't know and i don't even dare to make prediction on that. You can say that this post is not to make a prediction of what we will do coming period, but it's to give an impression of what is realistic and to show that we almost always get a second or even third chance to get in again. 2 months ago when we first reached the 8K, i could smell the FOMO in everywhere, even in my own chat. So i wrote a big message trying to calm everyone down with the general message: If you were not in already at low prices, go sit on your hands and just watch and be patient. Very likely to see the price come back down again eventually to the current price. At least then you are able to judge if your buying a support instead of buying the high. Since that moment we we crossed the 8K several times, even reaching 6500/7000 after. At the 12k similar thing, posted a similar message. If your not in already, don't buy the high and be patient. We even reached 9700. Now don't think it's easy for me to say this, because when i am wrong and we simply continue to go up, than i am the big idiot preventing them to make profit. But think about and be honest, how many times did a real FOMO buy make you profit (not paper profit but that you really sold for a profit) and how many times did you buy close to the high. Is that 50/50 or is more close to 80% failure. And the moments it did continu to go up, did you take profit at some point or were you still holding after a big dump below your entry? So is does FOMO strategy have a 20% success rate or is it actually more like 5% (because of the non profit taking). I have no idea of course, but my guess is, that the ones who did FOMO or were having a hard time not to FOMO at 13k, maybe max 5% of them bought at 9700/10500. Human nature and when being inexperienced in this game, to feel bullish on the way up and bearish on the way down. Maybe it's time we stop making it so easy for the whales and filling the order book with buys at the highs and sells at the lows? Think long term, like the big boys are doing and plan ahead to prevent emotional decisions. Don't forget to like if you appreciate this :) Previous posts:
BITFINEX:BTCUSDEducation
by botje11
10
Trade To Win"Those who lose - trade not to lose. Those who are successful - trade to Win." Losing Vs Winning Most traders are more focused on not losing than they are on winning. Do you understand what this means? This means you are acting not in your best interest, but against your self. By focusing on how much you can or might lose, or on not losing, you increase the likelihood of making mistakes which ultimately lead to a losing traders equation, and a negative equity curve. Profitable traders do not care about losing. They understand it is part of winning. They focus on winning. What is the best move in this moment? Should I get out or continue to hold based on what the market is telling me? Winning traders accept the risk totally and completely; before getting into the trade. In other words, they have already lost what is on the line. Therefore they act in their own best interest, not based on their thoughts about what they could lose, but based on what the market is telling them to do in this moment. Other than this psychological difference, here are a few other key components on How to Trade To Win. Defined Edge - Every trader who is making money in the market has some form of edge which he employs. Even if his edge is purely intuitive. This is extreme and rare however, and most traders have clearly defined their edge and will only trade that edge. This removes randomness. Many beginners think they are going to study the market and be able to trade the market no matter what it is doing (trade intuitively). This is simply not the case for most. The purpose of studying the market is to identify opportunities in form of an edge. An edge is a setup or context which repeats itself over time. It might occur once a day, once a week, or once a month. It does not matter. All that matters is that you only trade your clearly defined edge, and leave the randomness behind. For more information, you can read about the edge I use in every market I trade. We also describe how you can develop your own edge, and trade it in any market. Stop Doing, Relax Efforts - If you are losing in the market, chances are you are doing too much. Many beginners, and even experienced traders think they must be trading in order to be a successful trader. This leads to random trading, over trading, and mistakes which compound themselves. You end up digging a hole, and instead of looking for a way out, you look for a different shovel. The harder you try to make a profit, the more you do, the more actions you make, and the more you lose. The market rewards those who are observant, disciplined, and most importantly patient. The market takes from those who try too hard, and do too much. If you dont believe me, try as hard as you can to make money, and see how you do! By relaxing your efforts, you relax your mind. In turn relax your actions and decision making. You do not have to trade every day to be a profitable trader. It sounds paradoxical doesn't it? How can I make money trading if I dont trade? By only trading when it is appropriate like when your edge is present, you better your odds of success. Profitable trading does not come from trading constantly. Profitable trading comes from the act of non-doing, and out of a state of emptiness. Profitable trading is effortless, it comes out of waiting for just the right moment before taking action. And then waiting some more while the market proves you right or wrong. Profitable trading is not forced; it just happens. Active VS Passive Trading - This is very similar to the previous topic. Active trading is a trader who is constantly in the market, trading whatever he see's or feels right. This trader is often wrong, and when he is right he makes the mistake of exiting too early due to fear. This leads to a negative traders equation as he continues to struggle to do the right thing. An Active Trader mentality is one which does not believe in "non-doing." He believes he must, and can, do something. He is afraid of missing out and is often swayed by thoughts and emotions. So he continues trading never looking back, and at the end of the month cannot figure out why his account is in the red. A Passive Trader is the opposite. He passes on more trades than he takes. He does not care about what he misses out on. He only cares about what he takes and the actions he makes in the market. He does not force trades, he just watches the market until he knows what to do. Or he waits and waits until his edge finally sets up. He is passive in his efforts, rather than active. He does not care if he doesn't trade today, this week, or even this month. Trading is not what is important to him; winning is. He knows that profits come from sitting, waiting. Because he is willing to wait, he is peaceful. And profits continue to come into his account, effortlessly. For more information on developing this type of mentality, see below. We also detail how to understand markets through price action, how to create, define, and employ an edge, and how to develop your traders mentality to succeed in markets. If you found this helpful please like! Feel free to comment or ask questions.
SP:SPXEducation
by tradersmentality
BITCOIN and GOLD! Short term connection that can reveal a lot!You are all familiar with the similarities between Bitcoin (Digital Gold) and Gold on the long term and on a cycle wide scale. Similarities that have allowed to accurately price Bitcoin's bottom: Or still see an early entry on the Golden Cross occurence: Even spot the parabolic extension from the 0.382 Fibonacci level to the 0.618 peak: What is very interesting is the similar candle action on the short term price movement between the two. Again Gold appears to be leading BTC! Can it be a coincidence that both store of value assets have broken into a new bull cycle and made their peak at the same time? Surprisingly Gold is more aggressive trading well above the MA200 and since yesterday even above the MA50. This is also better illustrated by the fact that Gold managed to make a peak on the 5 Fibonacci extension (from the consolidation phase), while Bitcoin managed to peak at 4.236. This is purely an educational analysis intended to develop the general notion that Bitcoin and Gold (digital store of value and physical store of value) are by nature interlinked. What are your thoughts on this study? Can Gold show the way to BTC even on a shorter time frame? As usual let me know in the comments section!!
BITSTAMP:BTCUSDEducation
by TradingShot
6
Bitcoin And The Insane Beauty Of The Fibonacci Golden Pocket!Bitcoin as always makes perfect sense when looking back in hindsight. The single most respected Fibonacci Retracement level is the 61.8% level, yet as we all know exact targets are rarely hit. When we add the 65.0% Fib Retracement level to the 61.8% Fib Retracement level we get what is famously known as the Fibonacci Golden Pocket. This is the single most respected reversal zone when using Fibonacci Retracement analysis. This chart is a perfect educational example of the Fibonacci Golden Pocket working its magic. I hope you found this post educational and manage to keep this Golden Pocket analytical tool in your memory bank for the future! If you would like to see my post predicting this top and reversal in advance to within 98.5% accuracy see the below related and linked article.
COINBASE:BTCUSDEducation
by Markster
5
Bitcoin 2022..!!#BTCUSD #BTC (Mission 2022) 1 BTC = $25000 In 2022 What Is Bitcoin ?? Bitcoin is the most secure and robust cryptocurrency in the world, currently finding its way across the world of business and finance. Bitcoin was thought of as Internet money in its early beginnings. Unlike fiat currencies Bitcoin is a decentralized currency. That means that a network of users control and verify transactions instead of a central authority like a bank or a government. Up to this day, Bitcoin uninterruptedly works as money one person pays another person for goods and services. Once Bitcoin is exchanged, the record of the transaction is publicly recorded onto a ledger known as the blockchain, which other Bitcoin users, known as miners, verify by putting those transactions into a block and adding it to the blockchain after Proof of Work (PoW). After a certain amount of transactions have been verified by a miner, they will receive newly minted bitcoins for their work and thus new bitcoins will be added into circulation, while the number of bitcoins in circulations are now in the multi-millions range, the maximum amount of bitcoins that can ever be created is capped at 21 million. The creation rate is automatically halved approximately every four years as more bitcoins are added into circulation, whilst this system is modeled after gold, mining difficulty is always increasing as hashrate increases and makes finding new bitcoins harder as the number of available bitcoins reaches the 21 million cap. As bitcoin has matured as a cryptocurrency, there have been more companies warming to the idea of using various bitcoin exchange facilities to gain exposure to the volatile bitcoin price while a few websites such as reddit WordPress and overstock have begun accepting Bitcoin, most major retailers have yet to take the plunge into Bitcoin. Satoshi Nakamoto Founder Of Bitcoin Satoshi Nakamoto is the name used by the unknown person or people who developed bitcoin, authored the bitcoin white paper, and created and deployed bitcoin's original reference implementation. As part of the implementation, they also devised the first blockchain database.In the process, they were the first to solve the double-spending problem for digital currency using a peer-to-peer network. They were active in the development of bitcoin up until December 2010. Hit Like On Idea For Our Support & Motivation.. Please Follow For More Interesting Ideas. Thanks
GEMINI:BTCUSDEducation
by Faibik
4
Enough to go onIt's been a quiet year, not for lack of attention, but either nothing material has changed, or the information hasn't been indicative. Short term - going down. Medium term - range bound. Long term - $13,000 will be the new floor. $13,000 USD has turned out to be a key level. It's a 1/3 FIb retracement off the ATH, and the current Fib. retracements off of $13K match up very will with other trending supports - $10k, $9k, $7.5K, $6K and $4.5K. I"m giving even odds that we tickle $7,500 before year end, and likely before September. Don't see us going much below that, except for maybe a brief visit to $6K, and it's unlikely to touch $4,500. So of my BTC purchasing power, I'm putting 10% at 9,5, 20% at 7,5, 50% at $6,5 and leaving 20% uncommitted. I don't think we'll touch a lot of the bottom, but we're going down before we go back up.
BITFINEX:BTCUSDEducation
by BigDataBarista
Xlm the second countcount 21 of 2 It's still in a regular ABC correction from the 1st wave & wave 3 is about to start. Trading in a nut shell = right about direction, but stopped out repeatedly from fear, bad ta, & over leveraged before the big move. Investors scale in and beat your a$$ Previous set up was beautiful but alt szn has not started yet and btc is still dragging them around from correlation. Lets get complex and learn! Ill update a thread with intra-day trade on my twitter in tv bio
Education
by ChaseWallace
The Bitcoin speculative frenzyHello and welcome to my idea. Since early 2018 I was following the progress of this gigantic bubble explosion in this idea: I want to make a new clean idea now. I have been following it closely and noting people psychological state. Recently I check trading view homepage ideas mine are not in here, I am pretty disapointed as I was trying to show that in these situations bears get ridiculed and bulls "group up" on them to kick them while they are down. I do have some content but I wanted more, so it is not only "a coincidence" "a few bad apples". I have a great number of twitter screenshots on my PC thought, shall these posts disappear... Also have trading view & other. I believe Bitcoin 2019 bull market is very close to the end. What we witnessed in 2018 was not a correction but the start of a new trend to the downside. While it was possible that BTC retraces to 0.382 only after hitting 3k, 0.786 was much more likely (~$13500). We got to 13000 today. So I think the timing for this idea is perfect. The global economy is completely insane, the FED decisions are very questionnable, on top of that every one, completely uneducated people, are getting into investing. The consequences are going to be disastrous. The examples I am thinking of are: - The mississippi bubble in the 18th century that resulted in decades of bad economy and then the french revolution ("Let them have cake" - Marie Antoinette) - The US stock market bubble of 1929 which resulted in World War 2 ("The jews and Poles are parasites and the jews crashed the economy") We are living at a time where instant gratification is the norm, people are more delusional than ever, and as I said, complete bubble, interest rates and bonds yields are at their lowest in human history, plus the financial world got invaded by complete amateurs. This month, beyond meat IPO went up 300% in days. There are plenty of crazy examples. Bitcoin is simply the graphical manifestation of the insanity that is going on. Here is a recent idea about the Bitcoin bubble within a bubble that is going on. And another. We could go for an ABC as described here Or 12345. Bitcoin could ABC to 500$ then hoover in the 500-2000 range for a long while. It could become a currency like the other ones. Why would it not get replaced by something better thought? There are a few bubbles very similar to Bitcoin, but first I would like to focus on Sugar. In the eighties. By "last time they said" I refer to what Bitcoin investors keep repeating, that last time Bitcoin went down some people said it would keep going down and that did not happen. Which makes absolutely no sense to anyone rational / capable of understanding probabilities / just understand how bubbles work. > Great accumulation bottom great entry > 3.618 total extension, 0.618 wave 5 extension > Up 650% > Took exactly the same duration to return to baseline both times > 0.786 retrace "Back to normal" or phase 6 in hyperwave terms (see bubble charts describing the "back to normal" phenomenon) > Not completely clear accumulation, no high reward to risk entry (too many eager gambling buyers?) > At 4.236, wave 5 between 0.618 and 0.786, I expect the top to be in that range > Up 350% after going parabolic. Total when this is over should be around that number. > We shall see how long to go down to 3000. > Almost at 0.786, we probably (?) make it there? Let's take a look at 2011-2013 "bubble". I do not like the word bubble, definitions are all bad. "Prices rise far above instrisic value". Who is to say what the intrisic value is? Demand and supply is what defines it. If bubbles "exist" as defined, then gold is permanently in a state of bubble, all fiat currencies too. Pretty much everything all the time. This is not a "back to normal", just want to look at extensions. Mainstream media and all the people invested in it are (OBVIOUSLY for the people invested) saying this is "back to normal". They are living in an echo chamber and telling every one how they think we are "back to normal", like we expected something else from people that bought... I have explained how this was soon to fail and shown evidence after evidence. Facts and facts and facts, and even undeniable proof of what was going on, and have shown what always happened in history, just to be ignored or ridiculed. This time it's different. Just got ridiculed because "it did not happen in the 2 weeks after that post was made". I am being nice, 2 weeks is more than most people attention span nowadays. Scams can last a long time before dying, but the way things are, I doubt it will last much longer... Surely not 20 more years like Madoff's ponzi scheme. The investors in this scam have turned insane by greed and the % move (most were probably not very smart to beging with), so this is why it is called "dumb money". Completely ignoring facts and risk and logic... A reason for the price to go up is "last time they said". Where some technology is mentionned and the fools that got trapped in this bubble believe that a great number of people were actually bearish on those technology (which is never the case). I made a list of a few of what was supposed to be the "future" "just like last time they said" and just failed completely. There are more failures than successes but we remember successes only, and people are not open minded enough and not interested in history (or too lazy or too greedy and in denial) to know that. Besides, they always seem to mix the technology (Blockchain) which is certainly very interesting, and Bitcoin which is not very different than a ponzi scheme. As a speculator I am trying to guess what a top could be. Momentum should slow in the 12000-14000 area and I would bet on the downside. Price could get close to 15000, and the public go completely wild, whales would take this chance to sell their large stacks that can hardly be cashed out (we have seen sells of only 5000 spread over hours drop the price by 10%...). It is actually not super interesting to trade for plenty of reasons, but I will anyway, for fun & education.
BNC:BLXEducation
by MrRenev
18
The Advantages of Price Action (Technical Analysis) Technical Analysis (AKA Price Action) Technical analysis is the understanding and observing of markets through the only thing that matters; price. Prices generate similar patterns over time, in every market. A single price chart contains more information than you would ever imagine at first glance. Everything you need to know about any company, or market is on the chart in front of you. The current price is what the true value of the market is, regardless of news, indicators, or anything else. The Advantages of Technical Analysis (Price Action) No News - Everything you need to know is on the chart in front of you. Completely disregard all news and outside information. All news is already built into the current price. The price action of the market is all you need to know. Once you understand how institutions operate, you can follow them. No indicators. All indicators are a derivative of price. For example a Fibonacci level. Every price on a chart is a Fibonacci level of some other price on the chart. Although they appear to work, these levels do not work because of Fibonacci. But instead due to the traders equation, which is the mathematical formula institutions use to enter and manage trades. Clearly define support and resistance. You can see on a chart where prices are likely to do something. These are "Key entry points" or "Buy and Sell Zones." Clearly define risk and edge. With technical trading, you have the ability to define your risk before getting into a trade. If the market does not do what you expected, and instead goes beyond your stop, you exit. Without needing to wonder about why this happened, or constantly observing the news. Identify the strongest markets without relying on outside information like news, indicators, someone else, or a "tip." Become independent and trade for your self. If you found this helpful please like! Feel free to comment or ask questions.
Education
by tradersmentality
The Advantages of Technical Analysis (Price Action)Technical Analysis (AKA Price Action) Technical analysis is the understanding and observing of markets through the only thing that matters; price. Prices generate similar patterns over time, in every market. A single price chart contains more information than you would ever imagine at first glance. Everything you need to know about any company, or market is on the chart in front of you. The current price is what the true value of the market is, regardless of news, indicators, or anything else. The Advantages of Technical Analysis (Price Action) No News - Everything you need to know is on the chart in front of you. Completely disregard all news and outside information. All news is already built into the current price. The price action of the market is all you need to know. Once you understand how institutions operate, you can follow them. No indicators . All indicators are a derivative of price. For example a Fibonacci level. Every price on a chart is a Fibonacci level of some other price on the chart. Although they appear to work, these levels do not work because of Fibonacci. But instead due to the traders equation, which is the mathematical formula institutions use to enter and manage trades. Clearly define support and resistance. You can see on a chart where prices are likely to do something. These are "Key entry points" or "Buy and Sell Zones." Clearly define risk and edge. With technical trading, you have the ability to define your risk before getting into a trade. If the market does not do what you expected, and instead goes beyond your stop, you exit. Without needing to wonder about why this happened, or constantly observing the news. Identify the strongest markets without relying on outside information like news, indicators, someone else, or a "tip." Become independent and trade for your self. If you found this helpul please like! Feel free to comment or ask questions.
COINBASE:BTCUSDEducation
by tradersmentality