Jump to content
Sign in to follow this  

Bitcoin Breakout

Recommended Posts

A quick smack down as well. Doesn't look like a pump and dump either where you would expect to see a sudden huge single candle then a steady controlled sell off as the pumpers exit exchanging contracts with the FOMO'ers.

This was a steady growing ramp up then sudden huge selling like someone took the opportunity to get out big.

15 min chart.

image.thumb.png.c33cfbee6c274ea061a3bf1e2fd6da9b.png

 

  • Thanks 1

Share this post


Link to post

Thanks for this. It seems Cryptos are mainly blue at the moment but that long term downward bias is still there. It will be interesting to see how they react later on in the day and evening. 

Share this post


Link to post

That was certainly short-lived. Which market(s) does IG use to set the price for BitCoin? The move here all the way up to 7340.80 was much higher than at say eToro which only got up to 6751.

Share this post


Link to post
34 minutes ago, anders said:

That was certainly short-lived. Which market(s) does IG use to set the price for BitCoin? The move here all the way up to 7340.80 was much higher than at say eToro which only got up to 6751.

There is also a large difference in BTC price between IG and Plus500. Historically they were $40 apart, from this morning it’s more like $400-500 apart. Anyone know why?

Share this post


Link to post

Seeing the usual wide range on the different exchanges,  the day high is between 6810 and 7788 for Bitfinex, GDAX and Kraken ...

bit2.thumb.PNG.65e844d8b0859796825eab532fcdf25d.PNG

Share this post


Link to post
7 minutes ago, Caseynotes said:

Seeing the usual wide range on the different exchanges,  the day high is between 6810 and 7788 for Bitfinex, GDAX and Kraken ...

bit2.thumb.PNG.65e844d8b0859796825eab532fcdf25d.PNG

 

So is the explanation that IG, eToro and Plus 500 use a different set of exchanges to determine the price? I've not noticed such a wide divergence before.

(Helps me to understand the SEC's reluctance to allow ETFs when even respected players have such a variance on price.)

Share this post


Link to post

Your content will need to be approved by a moderator

Guest
You are commenting 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
      6,079
    • Total Posts
      26,693
    • Total Members
      33,889
    Newest Member
    galina2809
    Joined 23/01/19 05:15
  • Our picks

    • The pull-back is here - APAC brief 23 Jan
      The pull-back is here: The pull-back markets were waiting for – the one we inevitably had to have – has arrived. It’s risk-off across financial markets and the optimism that drove global stocks off their December lows has subsided. Relatively speaking, it’s been a day of significant downside, but nothing yet to warrant tremendous fear. It should be common knowledge, but it bears repeating: proper validation that global equities have truly established a recovery ought to be judged not by the latest high, but by where markets form their next low. The retracement which is apparently upon market participants now hands a golden opportunity to judge this market for what it truly is – have the bulls reclaimed their dominance, or have the bears lulled them into a trap, and now stand poised to assert further downside?


      The market’s rationale: A greater look at this subject and Wall Street’s price action later. In relation to the overnight sell-off, the rationale was as feeble as the one that got stocks to their recent peaks in the first place. It’s been chalked up to reduced positivity towards the trade-war, and renewed concerns about global growth. To begin with, very little data throughout the past week has provided a clear and substantial picture on economic growth. The boost in sentiment has come from geopolitical or monetary policy developments that was assumed to be supportive of the growth outlook – at some point in the future.  Some nice-noises made between the US and China in trade negotiations here, and a few dovish comments from a handful of US Fed speaker there, is what ignited the latest part of the risk-on rally.
      • 0 replies
×