Zone of Turmoil & a BFXData observation shareBitcoin failed to close above $7200 during this most recent consolidation period. It has now fallen below $6900. If it was going to launch and make a bull comeback, then it would have happened already so those who claim it's going to launch now are just engaging in wishful thinking. Usually when there is a reversal in bitcoin it happens immediately, not drawn out over days.
I am not going to suggest a price target because we are now entering a zone of turmoil. There will be mass confusion, particularly by the overly bullish and those who are facing fear and despair over losing their initial investments. People will want to buy at any level between here and 6k because they want to believe this is the bottom. And maybe it is? But bitcoin is an entity unto itself that even the biggest whales can't control once the momentum gets going. All I know is that if we break below the dark green channel support, it's not going to be pleasant.
If you look at the weekly charts btc is still a fair way off returning to the "mean". I wouldn't be surprised if we do fall to 5k or less as some predict. However in terms of this "death cross" that occurred on 31 March 2018, I do believe it will be a temporary situation. The 50/200 Moving Averages will cross back after we plummet a bit further. Crypto is too new and too big now to enter a long term bear market. Even though governments and banks are against it, who do you think is buying up in droves? Ironically, crypto is bad but money is good and no power/control hungry entity is going to give up a chance to both make money and control the global population further.
So following on from yesterday's BFXData knowledge share (which are my personal observations), here is the one for today:
What do the BFX bots know:
They know that the idea is to accumulate everyone else's bitcoin/money.
They know how the main indicators work. They don't use them because they don't need to visualise them, but they know that everybody else uses them and so are calculated by the bot server to be taken into account with every trade strategy.
They know that candles are significant to humans and so the movement of price in each minute ultimately determines the direction of the trend.
They know that humans make decisions based on the closure of candles on certain time frames. For example 1 day, 4 hour, 2 hour, 1 hour, 30 min, 15 min, 5 min, 1 min. More weight is given to candles closing on bigger time frames.
They know that market psychology ultimately drive
MACD
Sometimes when the MACD is around the 20 (low trading volume) to 40 (high trading volume) mark in either direction, the bots will stabilise the price (buy and sell walls at 10 cent differences) to move the MACD to the neutral or opposite areas based on what the overall whale strategy is. The price will not move significantly, but the MACD will. This is calculated divergence (just coined). This usually only applies to 1/3/5 minute time frames. Larger time frames are often normal market trends. While the MACD is undergoing this normalisation process, if the price moves beyond what the bot wants the price range to be (usually +/- $20), the bot will buy or sell the price back to what it wants. You can see these small reversal candles on the one minute time frame. Sometimes it takes the bot a little while to react, maybe 30 seconds. This is also a method to prolong the closure of the current candle in order to make the next candle appear to be more green or red. Once the MACD lines start to overlap, large buying/selling movement in the preferred direction will begin again.
Bots
Ever seen the TV show LOST? Welcome to BitcoinIf it were possible to describe BTC movement like a tv show, I would use the whole series of "Lost" as the reference. What is happening? This makes no sense?? Are the characters in purgatory? That polar bear came out of nowhere. WTF?
I like to think of trading bitcoin as everybody in the world vs one major player (whale/exchange?). There may be some other whales joining in, but ultimately one person/entity is controlling the price on the shorter time frames. That's why you will do T/A and expect certain price movement, and then BAM! Out of nowhere an influx of volume for no apparent reason. Identifying the give away patterns/behaviour that this whale's bots are using is a good way to start making trades off their trades. On free accounts, BFXdata can provide MACD and a few other indicators, plus the order books/trades. It helps to use BFXdata in conjunction with Tradingview for short term trades.
If people are interested in knowing what patterns I have learned after watching BFXdata for pretty much the equivalent hours of the entire series of Lost, I can share. For example, what is commonly the immediate price action following a hidden order buying or selling copious amounts of btc?
More likes = more indication that knowledge is desired.
Lines galore, but colour coding works.
Bright green - current trend channel
Dark green - strong support
Pink - strongest resistance/support
Orange - strong resistance/support
Purple - previous support (now broken)
BCH - proof that bots rule over market.Go and chceck 5 minute chart... Every single movement was to perfect and I think that pure bulls*t. 3x ideally resistant situation, pentagram, perfect price movement....call me paranoic but people arent perfect...bots are
Futures automated. OkCoin BTCUSD3MResults September 1st.
s21.postimg.org
s21.postimg.org
Fellow crypto traders,
________________________
These are the last week results. We had a tough market to deal with, lots of flat periods.
________________________
I admit I have not been socially active on TradingView at all.
As a paid pro-member I've been using the platform to develop serious strategies, not to waste time on drawing lines, or do Social Media like stuff.
I'm not into that at all... I'm an actual nerd, social in a different way...
I've been very happy with the testing functionality of TradingView. There is a lot to improve on that but I found all the pitfalls.
Yes, it's tricky, but I found a way to produce real results. I've been monitoring my results for several months before I decided to publish and make my signals available to some of you.
Since there is no Signal Exchange on TradingView like on competitive platforms, I've created this YT workaround.
I'm aware this may appear scammy to some of you, but that is YOU, not me.
I'm just creating a business for myself and take a few of you onboard to make it happen. Fair enough?
You take up my offer, or you don't.
Yes, you got it right, I'm not sharing the indicator and/or strategy I'm using, it is highly customized.
Everybody staring at the same BS won't bring you ANY profits. I know from experience! Been there, done that.
You will not find the code in the Scripting section as used in the video.
Good strategies in thin markets WILL BREAK if too many people are making the same moves.
So it's limited. First come, first serve.
Please continue reading in the video description, all details there.
youtu.be
So what's in it for you and me?
This strategy is serious stuff and requires decent equity amount in your trading account to reduce risk and increase profits.
As always make money with money.
You guessed it, my account would be at to high risk right now. Disclosure enough?
If you prefer high risk, with high potential profits, I can set that up too.
Check out the video and the description.
Talk soon.
________________________
I'm happy to set you up.
No tire kickers and looky-looks. This will only work for large accounts.
I will only open 1 spot. 1 trader with at least 200 BTC to trade with.
I've tried to work with smaller accounts, but it's very frustrating very small positions with very little earnings.
I found it's to much work to deal with many small accounts. I'm sorry.
So don't ask if you have 10 BTC available.
This is what you need:
- You need to make yourself familiar with the OkCoin sub-accounts and convince yourself what I'm asking you to do is Safe and I can never touch your coins. You will always be able to regain access by a PW reset from the parent OkCoin main account.
This is how it works:
1) Create an OkCoin Sub-Account.
(click your name and click "profile" on the left.
2) Send me the log-in details.
3) I will finish setting up the sub-account with the OkCoin requirements, like 2FA and produce the trading API keys.
4) You fund the account.
5) I will start sending my Safest and small trade amount signals to your sub account. It won't trade much, but you're likely to see the proof of principle.
6) You sit back and relax.
7) After a few days, we discuss the results and discuss risk increments.
Earning potential: 0-20 BTC weekly. There are to many variables to give an exact number.
Disclaimer: I'm very convinced my strategy is great, however, there is risk involved...
OkCoin Futures automated. Fellow crypto traders,
I admit I have not been socially active on TradingView at all.
As a paid pro-member I've been using the platform to develop serious strategies, not to waste time on drawing lines, or do Social Media like stuff.
I'm not into that at all... I'm an actual nerd, social in a different way...
I've been very happy with the testing functionality of TradingView. There is a lot to improve on that but I found all the pitfalls.
Yes, it's tricky, but I found a way to produce real results. I've been monitoring my results for several months before I decided to publish and make my signals available to some of you.
Since there is no Signal Exchange on TradingView like on competitive platforms, I've created this YT workaround.
I'm aware this may appear scammy to some of you, but that is YOU , not me.
I'm just creating a business for myself and take a few of you onboard to make it happen. Fair enough?
You take up my offer, or you don't.
Yes, you got it right, I'm not sharing the indicator and/or strategy I'm using, it is highly customized.
Everybody staring at the same BS won't bring you ANY profits. I know from experience! Been there, done that.
You will not find the code in the Scripting section as used in the video.
Good strategies in thin markets WILL BREAK if too many people are making the same moves.
So it's limited. First come, first serve.
Please continue reading in the video description, all details there.
youtu.be
So what's in it for you and me?
This strategy is serious stuff and requires decent equity amount in your trading account to reduce risk and increase profits.
As always make money with money.
You guessed it, my account would be at to high risk right now. Disclosure enough?
If you prefer high risk, with high potential profits, I can set that up too.
Check out the video and the description.
Talk soon.
Now that BearWhale (Draper?) has exited — are we est new supportThe accumulation is actually up, which hopefully means people are buying at this level, establishing a new support.
I'm not jazzed about a $330-350 support level, but it's better than not knowing where the floor is at.
Still, my miners are shut down, until it's cool enough to use them for heating, or BTC goes above $400 again.
No more support, where does it land. I don't care, personally. I'm out. We pierced the only support that mattered.
Watch out for sharks... the whales have left the building.
And once again, they say, thank you for your buy support as they sold off their bags of holding.
Here that noise? It's the sound of an overinflated, no-intrinsic-value ponzi, deflating.
It's even dropping as I'm writing this {"amount":"333.18","currency":"USD"}
This is SPECIFICALLY what I mean, when I say, you cannot predictThis is SPECIFICALLY what I mean, when I say, you cannot predict bot action.
www.cryptocoinsnews.com
How much did you lose on this? Or were you prepared for the take?
There are SOOOOOO many bots out there.
quatloos.org
bitcointalk.org
www.coindesk.com
AND, soooo many more idiots that don't know how to use them.
Please don't go long on a fully manipulated market.
Granted, all markets, forex, stock, commodities, ALL of them, have bots... but they have volume too, to protect against aggressive bots. OBVIOUSLY, Bitcoin, and cryptocurrency/ALTcoins do NOT.
That's a rough 96 hoursI really don't have much to say ...
But I am happy that my remaining sells all triggered
at $605 while I was being evilly trolled by the $1000 bulls.
And except for a few morsels left that I trade altcoins
with, I'm 100% out, til the bottom, then maybe I'll
come back out and play.