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I have been dealing with bitcoin and cryptos in general in traditional markets, have began to explore bitcoins through CFDs in IG. Banks are generally less hostile to traditional investments instruments like IG compared to a real crypto exchange. The question is cryptos run 24 by 7, but when I log in I see market closed. Since I am a newbie, I just want to know when is the operating hours for trading for cryptos, and since the price is pretty much fluid, are the guranteed stops or limits executed when price is hit even IG is off hours? Since btc can pretty much swing 30% in a few hours, and I cannot edit the order anytime. What is the general strategy that you guys do to speculate btc without access to it 24 by 7? Thanks.

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It was under maintenance and I could not change any entries. Now the maintenance is over, it says market closed and the price is at 10872 when other markets is over 11,000. It seems that i can modify the order, not sure if it can be closed or something else. Can anyone confirm the operational hours of the btc platform? Thanks.

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I agree that Bitcoin is a 24 hour market yet trading it on IG does not reflect this. However, IG have improved in this area but there is still a little bit of work to be done before IG can offer is customers 24 hour access to trading Bitcoin. This simply means that IG traders cannot have a better 'edge' than others trading Bitcoin.

 

IG closes for Bitcoin on Friday 10:00 pm and re-opens on Saturday at 8:00 am for USD BTC only. Not Bitcoin in GBP or EUR.

 

IG are slowly improving but I accept that it needs to ultimately offer 24 hour access for Bitcoin trading to satisfy its customers.

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Bitcoin failed at 11530 with declining volume and now looking for support as momentum is turning.

 

US factory orders at 3:00pm.

 

15 min chart.

 

 

 

BTCUSD(£)M150412.png

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I just thought I'd post Daily FX analyst John Kicklighter thoughts on the week ahead when it comes to bitcoin...

 

Bitcoin Crosses 10,000 and the Rubicon with Futures – Bitcoin achieved yet another remarkable milestone this past week – it surpassed 10,000. The actual break was one of extreme volatility and reflected distinctly upon the speculative nature of the cryptocurrency market. As with the high profile equity indices of past decades where the big round figure inspired further inflows of capital for sheer fear of missing out (FOMO) purposes, we are witnessing the rise of a new asset and asset class that is being led by its novelty and promise for rapid wealth.

 

Why wouldn’t traders be drawn to this market’s charge higher? It has already offered massive gains with stories of millionaires being minted in just the past year. It is not fully adopted into the financial system, so there is seemingly a discount in its very nature. And, it is difficult to value which encourages speculators to push ever higher as there is no stodgy fundamental value for them to justify overreaching.

 

As with any decent market, there is a true underlying value to Bitcoin and its digital peers. Deep security of transactions will be a permanent stay for the financial system. Yet, the collective success of Bitcoin is dependent on its universal adoption. To replace a fiat money, you need a fiat money’s reliability – if not full characteristics. Sure there is unprecedented security behind the ledger, but there are crucial limits from supply to conversion (where and what we can make purchases on).

 

To commit to the market at these levels, traders are taking a serious risk with the volatility – investors are burning speculative bridges to throw in with the move higher. One more ladder rung to offer confidence is the news that the CFTC has approved futures on Bitcoin at the CBOE and CME. A regulated derivatives market is a serious move towards legitimacy. However, it also brings greater scrutiny from regulators moving forward and will draw a considerable amount of capital from the spot market considering the virtues of the exchange-based market (and yes there are some): segregated accounts, clear tax implications and flexible liquidity.

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I read that processing one single Bitcoin transaction requires enough energy to power nine U.S. households in a day. No wonder the price is going up. Enjoy !!!

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Heading down again, may try to retest 14225. Out of interest how is IG handling shorts on these big plunges? It's one thing not being able to get in on a steep rise but it's much worse not being able to get out when price plummets.

 

BTCUSDH10812.png 

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Tags 14225. if it doesn't find support here will likely try for retest of level around 13100.

 

1 hour chart

 

BTCUSDH10812b.png

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Bitcoin futures with January expiry date rise to 17780  while bitcoin currently at 16918.

 

 

BTCUSDH11212.png

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Interesting maybe waiting on interest rates. Ether has taken off my Boll method would have caught it on the 1hr chart (USD) (DBF)

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Struggling to get momentum going again, price fell away with divergence during Asia session.

 

1 hour chart.

 

BTCUSDH11312.png

 

 

 

 

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Maybe Bitcoin waiting on interest rates, and in the meantime people thought Ether cheaper. I also think Ether is currently hammering Bitcoin in the media.

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Yes , but another possibility here in this 1 min chart news video from Joel Kruger formally of Dailyfx.

 

 

 

 

jk.PNG

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I would need my Brown Trousers to enter this very volatile market....   Can one limit the loss 100 per cent

 

 

 

 

  Regards  Cement

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Hi ,  Depends on how you would want to trade it.

For spread bets yes with a guaranteed stop but problems getting orders accepted but trading on an exchange no, both routes have there problems caused by the very high volatility.

 

See threads,

 

https://community.ig.com/t5/FX-and-Cryptocurrency/Cryptocurrency-Mega-Thread/m-p/17099#M1963

Re; journalist's experience trading on an exchange.

 

 and;

https://community.ig.com/t5/New-to-Trading-with-IG/Will-I-always-be-able-to-close-an-open-spread-bet/m-p/17106#M61

for spread betting

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Thanks for the video clip it was something that had crossed my mind but did not want to look stupid mentioning it.

 

Good thing you used the video clip !!!!

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Not sure of the meaning but my Bollinger Bands are closing in on IG Bitcoin (USD) price in a heavy weight kind of way.

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What, no pic?  Yes they will be as price struggles making higher highs continuing to lose momentum though still above the 20 sma on the 4 hour but only just. Also seen in the continuing RSI divergence.

 

BTCUSDH41312.png

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Interesting. I was looking at the three hour one which appeared to have more force closing in. I had only wondered about its potential without having done any research  because of the Fed announcement due later today. Briefly looking back at recent history it would not have looked like there was much action to be traded going forward.

 

I have been experimenting with the pic's but fear I loose detail if I don't use a camera.

 

When you've got time remind me how you did the picture?

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Caseynotes wrote:

What, no pic?  Yes they will be as price struggles making higher highs continuing to lose momentum though still above the 20 sma on the 4 hour but only just. Also seen in the continuing RSI divergence.

 

BTCUSDH41312.png


 

Bitcoin (USD) (DFB) #.jpg

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, ok, so 3 standard deviations on the B Bands and a 3 hr chart and you are therefore looking for a break up or down from the trendlines which is similar to a break of the B Bands themselves. I add a 20, 3.00 on a 4 hour for comparison, but the top band not yet corresponding but clearly a big pinch.

 

BTCUSDH41312b.png 

 

 

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Interesting you're a genius finding all this kind of stuff. I wonder if Bitcoin will take a hit in the Far East tonight because I'm personally getting pretty fed up watching paint dry !!!! 

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Seems not even the Chinese market could get excitement going and I was reduced to watching the 5 minute chart of Bitcoin. I'm off.

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The big guys definitely appear to have taken control for now. It could be called "pump and prime", arbitrage, or, something under-the-counter !

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1 hour chart price trapped in symmetrical triangle and coiling, may break up or down. SMA catching up may hint to a break to the upside.

 

BTCUSDH11912.png

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