Bitcoin Price Thread

bitcoin
cryptocurrency

#2358

Oh, and I failed to mention…if Bitcoin does do what I think it’ll do over coming hours, then that’ll wipe out that last -2% and maybe even get me to profitable for the week. Let’s see!


#2359

I honestly see $6700 being a focal price for Bitcoin too, $6700 and $7000, the 0.618 fib retracement.

If we can hold Wave 4 as support, i forsee us testing $6700 over the next few days, and then we will really reach the telling point.


#2360

I’m assuming it’s quite a bit. But I would bet they’re buying their btc inventory through the back door, i.e. OTC so as not to move the price too much. Anybody know how many hundreds? of millions more are being dumped by Mt Gox trustee?


#2361

Maybe this answers your question?

This week, TABB Group claimed that the OTC market of bitcoin is at least two to three times larger than exchange market. Given that the bitcoin exchange market processes around $4 billion worth of trades per day, if the TABB’s assessment is accurate, the OTC market of bitcoin is processing more than $12 billion worth of trades on a daily basis.

https://www.ccn.com/otc-is-much-larger-than-bitcoin-exchange-volume-where-real-whales-trade/


#2362

On a different note, credit card companies and other financial services such as AliPay and PayPal do not need to exist. Crytpo can and WILL eat their lunch. I expect real solutions in 2019. Just look at the market size of AliPay alone in China (from Wikipedia):

Alipay overtook PayPal as the world’s largest mobile payment platform in 2013.[2] In the fourth quarter of 2016, Alipay had a 54% share of China’s US$5.5 trillion mobile payment market, by far the largest in the world, although its share fell from 71% in 2015 as its rival Tencent’s WeChat Pay was rapidly catching up.[3]


#2363

Are you guys using TD sequential. It is a really powerful tool to use, it’s not 100% accurate but it’s really helpful especially when combining other trading tools.


#2364

I tried to use it for a while, but with the way cryptos swing, it’s just all over the map. Useful for counting candles in a trend for sure, but definitely can’t follow the general parameters recommended – i.e. 7 to 9 candles being the exhaustion of the trends.

Meanwhile, continuing with my little experiment…I think a new pattern’s emerging…bear flag just turned into a series of bull flags if I’m reading this correctly:

This is starting to get interesting…and on a Friday night, too!


#2365

There is a lot of upward pressure on market right now, bears seem to be winning at moment. Going to be explosive when it breaks. Not sure which way yet? Dont know what to do lol…On sidelines at moment.


#2366

Thats why was not getting oversold on smaller time frames it was being bought up


#2367

Same here. I’m just calling it as I see it. Not actively trading, but if that last bull flag does pan out, I’m going in long at the bottom of it. This is why: if we double-top, it’s a 1.2% gain. If it is indeed an explosive bull breakout, the reward is potentially higher than that given we’re deep inside the descending triangle.

image

Same chart without the messy lines and fibbo added.


#2368

looks like bulls are getting crushed, going to have to regroup

Too early to call though, people throwing around insane amounts of money right now. Epic battle.

Shorts arent moving much

Half-time :rofl:


#2369

Looks to me like virtually everything has recently come off their highs (the green shades) and are now in the middle of their ranges or nearing the lower end (reds). Bitcoin in particular is in the middle of it’s band, but was strong green for a while.

If you’re noting some lines in this chart being particularly out of whack with their neighbors, these are coins that are immediately swinging from high band to low and back. HOTBTC, for example. It’s because they’re so cheap, 1 satoshi moves is greater 3 or 4% move profit/loss wise.


#2370

Rising wedge? If so not good pattern…


#2371

RSI pattern closer to do a move.


#2372

on 4hr chart, move to where? 4hr rsi looks kinda bearish and so does macd histogram.


#2373

to where? dunno, just getting tighter :laughing:


#2374

Not my favorite pattern, but looks like it’s closing out the right shoulder right now…


#2376

Apparently, you’re missing hte opportunity to grow yourself and get massive eyeballs.
You should probably build instead of critique.


#2378

Is this hans? waaaaaa


#2379

typical response :joy:
you could be the real Hans :thinking: new thread needed to find out :rofl: