Jump to content
Sign in to follow this  

Bitcoin

Recommended Posts

11:55 am Saturday 17/02/2018

Looks like based on last years support and resistance arrows if the market now consolidates nicely over $10,600 it should go higher other wise next stop down will be the 20 MA and then failing that then it will be back below $10,000 and as low as $9,400. Enjoy !

Bitcoin heading up - just broke $11,000 up from nice consolidation over $10,600 as predicted

Bit Mega.png

Share this post


Link to post

Based on previous pattern market will hold at MA area or head back down towards lower Bollinger Band - Support area. No worries. Upward trend line still intact.

Share this post


Link to post

Have just added in a trend line from my 4 hour chart to the 2 hour chart just in case I need to switch because to a key Bollinger point for me just below $10,100 on the 2 hour chart is looking vulnerable. Otherwise no worries.bit mega x.png

Share this post


Link to post

 Swapping $400 million of real money for virtual money makes more sense when looking at the weekly chart, scroll to see the Feb 9th post.

 

real1.PNG

 

 

Share this post


Link to post

Bitcoin is back down in the 9300 region of past support and resistance, the daily chart also has the 200 MA at this level and the redrawn Fib (now from the high down to the low) at 23.6%. A clear break here could lead to a charge on down to retest that low at 5896.

 

BTCUSD(£)Daily.png

Share this post


Link to post

True enough, the market is always uncertain, only the future can look at today with certainty. No point in trying to predict, so forget the 'hook' and wait for the 'reveal', and then react. For all we know we are looking at the start of a giant inverse head and shoulders pattern.

Share this post


Link to post

What will be the big movers that gives crypto another much needed bump up. ETH futures would be good, and the technical aspects such as lightening on bitcoin or sharding. All time highs by June would nice nice but if I’m honest I don’t see it nearly as likely as I did I December.

 

However, this time last year BTC 20k was a ‘never in a million years’ concept. ETH 5k would be the dream ...

Share this post


Link to post

Bitcoin will need something major and fundamental to turn that chart around. Bitcoin is being dropped as a payment system soon after take up as users find high transaction fees and slow speed and there is also the high energy consumption. 

 

https://hackernoon.com/ten-years-in-nobody-has-come-up-with-a-use-case-for-blockchain-ee98c180100

 

visa1.PNG

Share this post


Link to post

- I have seen from your articles that you possibly have a more neutral to negative view on bitcoin. Would that be fair to say? If so can we maybe get who seems to be pro to have some sort of debate off? Start with a few statements and each has 100 words or less to formulate a reply. Like they have in city am on contrasting views (if you read it) ?

Share this post


Link to post

lol, I think   will say he has debated this topic for an age and will refer you to his previous posts. Personally I just look at it from a traders perspective and am not so concerned with the bigger picture. I thought that particular article was interesting as it was the first I had seen that was not just a critique of bitcoin but of blockchain as well. 

Share this post


Link to post

Here's a great video - the reason I link it is there's a tiny reference in it  to Quantum computing & what it might mean to Bitcoin 

Share this post


Link to post

That looks interesting  though at over an hour long I think I'll watch over the weekend, in the meantime bitcoin is making another run up to the down trendline.

 

BTCUSD(£)H4.pngBTCUSD(£)Daily.png

Share this post


Link to post

Low volume breakout past trendline stalls soon after at the 38.2 Fib level.

 

BTCUSD(£)H1.pngBTCUSD(£)Daily.png

Share this post


Link to post

Big drop on the 1 hour chart seems to indicate a second rejection at the 11700 level and a search lower for support.

 

BTCUSD(£)H1.pngBTCUSD(£)Daily.png

Share this post


Link to post

my current chart FWIW                           Capture bit.PNG

Share this post


Link to post

Odd, I wonder if that figure will stand on bitcoin? Dax only spiked 90 pip,  bitcoin 680 on the new platform. That is a lot of stops on shorts taken out.

Share this post


Link to post

Down nearly 10% on the day, the big slide was on the 4 pm bar, but can't find that big spike up at 12 noon on any of the exchanges nor is anyone on twitter reporting it from other brokers.

 

Ah, I see IG didn't let it stand, the spike up has been removed from the new platform chart.

 

spk1.PNGBitcoin (USD)_20180307_18.41.png

Share this post


Link to post

Bitcoin down through support and setting up for fourth straight down day as looks to the lower levels. Currently 8810.

 

 

BTCUSD(£)Daily.png

Share this post


Link to post

Join the conversation

You are posting as a guest. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
You are posting as a guest. If you have an account, please sign in.
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  

  • Member Statistics

    • Total Topics
      13,162
    • Total Posts
      66,787
    • Total Members
      89,596
    Newest Member
    Majawis1402
    Joined 01/12/20 14:39
  • Posts

    • Thanks for clarifying. The support person clearly did not understand this at all, and the website is very vague! The 0.5% is something I'm used to from other platforms, and much easier to absorb as a cost on small positions when making a good entry
    • There was another fork the other day - Bitcoin Latinum - the world's largest "insured" digital asset. One wonders if every time another variant is created it simply draws away potential investors from the original version. I bet committed Bitcoiners wish these variants would all just fork off 😉 I saw something the other day that happened to mention that a Bitcoin was worth about 10 ounces of Gold.......then it hit me - would I prefer to be offered one Bitcoin out there in the ether or ten ounces of physical Gold in my actual possession? 10 Bitcoin to buy a single ounce of Gold intuitively feels like the more sensible way around as I'm certain that Gold is safe but several times less certain that Bitcoin is - so we could be out by a factor of 100! But whilst fund managers all start allocating the odd fractional percent to get exposure to Alpha for minimal portfolio downside the price will probably hold or bubble up even more. It will be interesting though  if national regulators later turn round and ban funds from holding cryptos - then they will all have to rush for the exit at the same time. Maybe that's the ultimate expected outcome.  According to Wikipedia in March 2018 0.5% of bitcoin wallets owned 87% of all bitcoins ever mined. Imagine if  transferring that 87% to fund managers at peak prices is the intended end-game before it all collapses? It would make Bernie Madoff look like a mere pick-pocket.  
×
×