Jump to content

Bitcoin


Guest Boilerman

Recommended Posts

Posted

Bitcoin makes a break for it in an attempt to capture the 23.6 Fib and next resistance level having broken up through 14188 (prior resistance and  38.2 Fib and down trendline) on high volume.

 

BTCUSDH10202.png

  • Replies 154
  • Created
  • Last Reply
Posted

Has consolidated in a tight (for bitcoin) range, not really surprised that the recent surge up was only off the back of a WSJ news report (flighty) but there you go. The volume is back to pre-holiday highs and the new range is well marked. Waiting for a break up to retest the 23.6% Fib (which is also the 61.8% Fib for the move down) or back down to the 50%.

 

BTCUSDH40301.png

 

 

 

 

Posted

The past few weeks has given people the chance to get long on bitcoin which eventually will hit 20000 and then onwards. Any dips or move down should open a chance for bitcoin to not be 'unlongable' which will appeal to mid and long term investors. I don't think bitcoin will go into a downtrend nor will it crash. But once it starts moving it'll be difficult to get on due to it being unlongable.

 

Day trading bitcoin is difficult due to volatility and personally i feel due to the spreads shouldnt be done. Buy and hold is a better strategy.

Posted

What do you think will happen after all the bitcoin are mined?

 

I agree with you that it will be in demand until then but I wonder if the original investors will then sell their investments causing large price corrections.

 

Also I reckon banks might even start using the blockchain technology. Will we even need bitcoin then??

 

Would be interested to hear some views.

Posted


Situation wrote:

What do you think will happen after all the bitcoin are mined?

 

I agree with you that it will be in demand until then but I wonder if the original investors will then sell their investments causing large price corrections.

 

Also I reckon banks might even start using the blockchain technology. Will we even need bitcoin then??

 

Would be interested to hear some views.

 

 

Don't forget that we all (probably) won't see the last bitcoin mined in 2140, however the supply curve shows we'll hopefully all see the time when supply is significantly diminished. Check out the charts below ...

 

2018-01-08 16_04_28-Controlled_supply-supply_over_block_height.png (1525×779).png

 

2018-01-08 16_04_46-Controlled supply - Bitcoin Wiki.png

Posted

Still seeing HODL posts on twitter though where they bought who knows. Price now 10420 and attacking the recent low at  99661. Next support level below there is  89676.

Posted

Recovery continues, yesterday sold off in London session, bought up in the US session then sold off again in the Asian to retest 10723 level (support turned resistance and now support again). Now being bought up in today's London session. A rollercoaster.

 

BTCUSD(£)H11801.png

 

 

 

 

Posted

I'd never know how to really trade them, presumably its all on chart and pricing. I trade shares where I can assess and analyse a comany's worth, its ability to generate sales and turn them into profits. On what basis is one making these decisions on bitcoin, purely if one's expectation is bullish or bearish on the current price and future prospects I presume?

 

Is there news events to trade?

Posted

Oh no, I don't ride rollercoasters. If you got in early great, but playing this market late is fraught with difficulties, high spreads, margin, wild swings. Happy to keep my capital tied up in more predictable markets, shame face but I even stopped playing gbpusd after brexit vote. 

Posted

Up move reversed at the confluence of the 200 MA, trendline and resistance level from the 4 hour chart and now looking at the 23.6% Fib level for support.

 

1 hour chart.

 

BTCUSD(£)H1.png

Posted

Yesterday I replaced my Fib retracement with an extension from the high and find a touch and reverse on the 1 hour today, doesn't look like it's going to hold though. I have pointed out previous examples of Fib being used repeatedly on this asset.

 

4 and 1 hour charts.

 

 

 

BTCUSD(£)H4.pngBTCUSD(£)H1.png 

Archived

This topic is now archived and is closed to further replies.

  • image.png

  • Posts

    • It’s been interesting watching $XION’s journey so far. Those who participated in the testnet absolutely crushed it, walking away with allocations that are now worth a nice chunk of change. For the rest of us, it’s been a game of watching and deciding when to jump in. The chart has been showing strong momentum after its initial surge, with $XION holding steady around key levels. The question now is whether this is the calm before another leg up or just a consolidation phase before it cools off. Honestly, I could see it going either way, but there’s no denying the project has solid fundamentals backing the hype. What makes $XION interesting isn’t just the price action. It’s the tech, features like meta accounts and abstracted interoperability aren’t just for show. They solve real problems in blockchain usability, which could be a big deal as more people start exploring crypto beyond just trading. I personally picked up a small bag on BingX after missing the testnet. It’s been my go-to platform lately for finding promising projects like $XION, and the experience has been seamless. Short term, I’m keeping an eye on how it reacts to current support levels. If it breaks higher, I wouldn’t be surprised to see it retest new highs. But as always, patience is key. For those who got in early, whether during the testnet or the initial dips. you’re probably sitting in a good spot right now. Where do you see $XION heading next? Are we gearing up for another leg up, or is this where it settles for a while? 
    • By the way @AshishIG I understood from one of the PCMs in SG that physical shares plus tasty trade products are coming to Singapore but wasn't given a timeline. Are you able to confirm?
    • Understood, thanks @AshishIG
×
×
  • Create New...
us