Bitcoin

[Caseynotes]

Cruises to 12750 with barely a hiccup this morning, 13000 in sight.

 

1 hr chart.

 

[Guest 121]

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 !!!

[Caseynotes]

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.

 

 

[Caseynotes]

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

 

1 hour chart

 

[Caseynotes]

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

 

 

[Guest 121]

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

[Caseynotes]

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

 

1 hour chart.

 

 

 

 

 

[Guest 121]

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.

[Caseynotes]

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

 

 

 

 

[Mixer]

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

 

 

 

 

  Regards  Cement

[Caseynotes]

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

[Guest 121]

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 !!!!

[Guest 121]

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

[Caseynotes]

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.

 

[Guest 121]

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?

[Guest 121]

---

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.

 

---

 

[Caseynotes]

, 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.

 

 

 

 

[Caseynotes]

Increased volume today looks to be for the short side, not long.

 

 

[Guest 121]

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 !!!! 

[Guest 121]

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.

[Caseynotes]

Falling back to support level 16012 and towards 15732 having failed at 16794.

 

[Guest 121]

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

[Caseynotes]

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.

 

[Caseynotes]

These two twitter threads fit together rather amusingly ...

 

[Guest 121]

I put out yesterday that last Bitcoin downturn to 10th December lasted 12 x 4hr bars. We are on number 12 now till midday GMT. The low occurred last time in bar 12 Have we seen the low already? Market would suspect a real fix if we got exactly same pattern as last time !

 

Ether looking strong. Maybe Bitcoin is going to wait till Ether hits where Bitcoin started the year.

 

I'd said it before but I would love Ether to end the year where Bitcoin started, and of course for Bitcoin to hit 20,000 or even a Fibonacci number like 21,000.

[Guest 121]

Bitcoin just broke the low now in its 12th 4hr bar. Interesting to see where we go with that next. A real fix if it works out same.

[Caseynotes]

Was held after the break down at the 38.2% Fib level then went back to test the triangle bottom before plunging down and now testing 18000. Next level down is the 50% Fib at 17700.

 

30 min chart.

 

 

[Guest 121]

You are a genius. I was thinking it could ***** 17700 without the Fib stuff just by looking at the patterns of last time. Then again if the rest of the market thinks same it may not get there because everybody is looking for the next buying opportunity !

[Caseynotes]

Interesting battle on now as price has gone back to retest the 38.2 level and found more sellers.

 

30 min chart again.

 

 

 

 

[Guest 121]

I was looking right down to the 1 min chart and upside now looks interesting again. Hope they won't be my last words !!!!