exchange the exchanges : exchangeception $amtdinterestingly, now I am looking at multiple exchange stocks.
Very clean chart and massive gap to be filled, in position, stop 37.51.
Exchanges
Bitcoin - WTF is going on?OK, call me paranoid, but anybody that has followed me for more than a minute knows I call the patterns early. I call the breaks early. I called the bottom early. I tend to panic early. Now, that being said, WTF is going on with the Bitcoin shorts the past few days or more? The Bitcoin price keeps plowing North but the short positions continue to climb. What? Nobody is going to cover? How much pain can these people take?
Or..... is there something more nefarious going on? We know, or at least I know, that the demand for BTC is HUGE worldwide. Do the exchanges have enough BTC to fill all of the orders or are they selling short to fill the buy orders hoping to cover later? I don't know. All I know is that if I was short a thousand dollars ago I would have covered so fast we would not even be talking about it.
I really am puzzled at to why the Bitcoin price continues to scream NORTH and yet there is no indication that anybody on the short side wants to cover. Are you that cock sure of your position that you will continue to take an ungodly amount of pain? I don't think so. I've been there and done that. Cut your loss and run is the order of the day.
But that does not appear to be what is happening. Bitcoin goes up, the open short positions go up. Bitcoin goes up, the open short positions go up. Rinse and repeat. This has been going on for quite some time.
My answer? I have removed ALL but about 10% of my long BTC position from the Exchange. If the shit is going to his the fan, I'll be dam if I'm going to stand in front of it.
I am STILL long, will remain long, and ALL but 10% of my Satoshi are safely tucked away under MY control.
If anybody has a good explanation of this situation I would love to hear it.
BBS Out!
Bitcoin - What is going on with the Exchanges?OK, call me paranoid, but anybody that has followed me for more than a minute knows I call the patterns early. I call the breaks early. I called the bottom early. I tend to panic early. Now, that being said, WTF is going on with the Bitcoin shorts the past few days or more? The Bitcoin price keeps raging North but the short positions continue to climb. What? Nobody is going to cover? How much pain can these people take?
Or..... is there something more nefarious going on? We know, or at least I know, that the demand for BTC is HUGE worldwide. Do the exchanges have enough BTC to fill all of the orders or are they selling short to fill the buy orders hoping to cover later? I don't know. All I know is that if I was short a thousand dollars ago I would have covered so fast we would not even be talking about it.
I really am puzzled at to why the Bitcoin price continues to scream NORTH and yet there is no indication that anybody on the short side wants to cover. Are you that cock sure of your position that you will continue to take an ungodly amount of pain? I don't think so. I've been there and done that. Cut your loss and run is the order of the day.
But that does not appear to be what is happening. Bitcoin goes up, the open short positions go up. Bitcoin goes up, the open short positions go up. Rinse and repeat. This has been going on for quite some time.
My answer? I have removed ALL but about 10% of my long BTC position from the Exchange. If the shit is going to his the fan, I'll be dam if I'm going to stand in front of it.
I am STILL long, will remain long, and ALL but 10% of my Satoshi are safely tucked away under MY control.
If anybody has a good explanation of this situation I would love to hear it.
BBS Out!
Dont be fulled into thinking this a bitcoin bull run!The yellow graph represents shorts being liquidated. Exchanges are pumping as much as they have to in order to liquidate these shorts that would clean them out if left checked. They know a dump is coming soon so they have to push price up before of that drop can happen. This is not organic growth as we have broke though major resistance like a knife through butter. With Binance suspending withdrawals and FOMO increasing profits for these exchanges manipulating price it is a win win for them. There a bubble expanding and its on the verge of popping! shorts are dropping but they are still stacked, so while there is room to more further to the upside.. I suggest you all grab a parachute because when start to drop it will be a free fall!
Exitpump in progress at important resistance, blowoff phaseThe grand exchanges exit pump is upon us. Talked about this in nov-dec '17 on tg and discord that this possibility was very present of how they did this in the past (especially with tethers at almost instantaneous access) and that sentiment can switch on a dime's notice, got the same feeling after the mysterious 100m buyer (i.e. exchanges in cahoot) as years gox and china fud manipulation, then tether/finex investigations went public memories and feelings of mtgox are reliving well now for exit pump in making. Big sells already happened at coinbase with almost no vol +40% up since (same other fiat exchanges, pumping on EMPTY books). No bid liquidity once this monster comes back down. Greedy people means they will be last to exit and we all know how that will look like. Stairs up, elevator down can be related to this human greed emotion. But in the end, not much retail is in anyway, paint tapers do w/e they want, I don't care about illusions and interpretations of fakenews telling you why this and that, always after the fact without any disclosure of personal positions.
Tbh, I would love to have seen finex to 33k while others at 3.3k, but it seems they still are "the market", like gox was "the market" back then.
Yeah, looks legit tether trading at $1.05 while at another place below a $1. Tether should be <= $0.74 by any common sense for the 26% unbacked reserves... All natural, right? The only natural thing coming is the selloff. Manipulation always happens first upwards and is always preferably over going down, because % exceeds the same price delta, that's why most of those exchanges employ the retarded "hodl" meme. If hodl, then please close your exchanges, we don't need you for hodl, I can buy p2p or from some website as well and hodl in my own wallet, thank you very much.
imgur.com
With this idea, I wanna see how this plays out in the months that follow this with all the recent events, the > 99% of bulls (including permabears that flipped to bulls at important resistance), since I'm used to clear all drawings after a while to start from scratch. The previous idea is active and this is a supplement to that and a chart from last year with the wyckoff distribution schematic 2.
Btw, for all bulltards thinking I'm a permabear, you're dead wrong. I bought the entire lower TR back in nov-dec (scalped 4.8k, 4.2k; held 3.2-3.3k), lots of people can confirm on tg and discord as I was one of the only ones insisting to buy and if goes lower buy more, despite everyone calling for lower lows. Nice try though, I'm getting used to this that people flip the script and the worst thing to do is lying to yourself. I will be a bull when the time is there. I don't wanna end up as bullsteak for what's coming.
Can it go higher? Absolutely, can even go to 8k or 13k, sure. Am I prepared for that? Yes, read previous idea how I'm playing this. Can -3k candle come? Absolutely, happened before a lot of times as well. Just use common sense and don't buy when it's pumped 100% with no retrace at a major confluence of resistance, that doesn't make any sense.
Imho, now is the time to #exitallcrypto and enjoy the spring/summer of the money you made. Imagine not taking profits at 100%, talking about greed.
What does USD mean in Crypto World? Is BITFINEX Heaven or Hell?Why do Crypto World still rely on USD as a value measurement?
1 Bitcoin == 1 Bitcoin is what we are looking forward, isn't it?
As human being, members of the society, we need to pay rent, food, all kinds of products and services and love, which are essential to make a living. However, Bitcoin and Crypto are not accepted by the traditional society for universal payment yet.
That is why, FIAT (USD) is still the rule to measure Bitcoin's value. You may not like it, the reality.
There are two popular methods to measure USD value in Crypto Exchanges: "USD" or "Stable Coin backed by USD".
Many exchanges use "BTCUSD", or "XBTUSD" for their Bitcoin - USD pairs, however, do those "USD" really equal to a US Dollar? Why do the price of Bitcoin value measured by "USD" differ from each other so much? The market is smarter than any algorithm.
The inflation of Bitcoin price based on "USD" normally means:
Hidden Cost: Much longer time and endless efforts to withdraw your "USD" balance to your bank account. (You don't even need to try - probably you will see many negative complains on Reddit) Or else, all transactions of Bitcoin -> USD will move to this exchange for the "highest" price, which is not the case.
As to "Stablecoin backed by USD", if a Stablecoin has credit problem, esp. the possible abuse of credit. The price of Bitcoin - Stablecoin of that exchange should be avoided being used for Technical Analysis, because the rule itself is wrong.
What a mess. BITFINEX could have been a perfect solution, if a Thether (USDT) were backed by a real USD. Many other exchanges provide only Stop order, which causes long wick. Do the exchanges benefit the long wicks ? I have no idea, really.
Where on earth is the "Dream Exchange" for Bitcoin and Crypto? Leave your comment, Buddy. PM me for Free Trial of "9 Seasons Rainbow MTF Indicator".
MURK is the favorite altcoin of the decoupling concept.In use, there are a lot of good reasons to want altcoins to maintain very separate valuations from Bitcoin. During the latest upswing from the 5,200-5,300 range to 5,500 LTC showed persistent fiat price stability, shedding BTC value in concert with that coin’s increase, hovering at around 77-80USD.
But this lever of price stability seems more a pairing with murk than it does with reality. The only way to know for sure is if LTC and others will retain their fiat values while the price of BTC decreases while LTC and others increase in BTC value, maintaining fiat stability. Yet BTC price volatility and those surges which characterize the market seem to be an essential part of the dynamic which has attracted investors and increased the market cap, imparting the well-known capacity for wealth creation to all crypto assets.
And, that’s why this mechanism is murky, because decoupling itself isn’t so much a mechanism as it is a concept, one around which trading behavior might rally while FUD manifests speculation as to the direction BTC will take if we are indeed at the end of the bearish tail resulting from the 2017 plunge, or too soon in estimates of a market moving on to BTC trending.
But are you willing to take that risk; to watch BTC plunge while holding on to altcoins which have demonstrated fiat stickiness on BTC’s upswing in the hope of seeing the same, in reverse, should BTC do what many believe it will and implode, either bouncing back from a retest of supports or altogether finding a new floor beneath them?
So, where does altcoin stickiness to fiat currencies come from other than the growth in number and robust trading of pairings? Is it a good thing, or a bad thing; a necessary thing, or something we can ignore? And however ‘stickiness’ is accomplished, if it can or should be, will maintaining altcoin valuation stability during BTC swings serve a purpose which runs contrary to the expectations believers have for cryptocurrency, in general, or is the ability to spend with some modicum of stability anytime and the implied market stability this represents more important to the continued health of exchanges overall?
As questions go, these are the tip of the iceberg, and it’s doubtful the iceberg will melt all too soon. If market cap growth is to keep pace as the market matures, a new class of investors will likely look to spending stability in at least several assets before taking the plunge. It’s that, or crypto players who collate real world assets with crypto assets, like real estate, will change the market and take their creation into a retirement where they don’t have to look at the screen coaching along a menagerie of trading bots. If it really were about redistribution of and access to wealth, however, that may be the very kind of decoupling we’ve been looking for crypto to create all along.
0x/Bitcoin (ZRXBTC) Broker Burns up?0x/Bitcoin (ZRXBTC) 4-Hour Bars, Normal Scaling, 06/24/18, Written 12:35 a.m. EST, by Mike Mansfield
Hi trader friends, we have 0x Protocol under an Andrews 0.618 support line & the Fibonacci 0.618 retracement, with only 3 of 5 waves completed on the downside, so there should be a bit more to come. After the expected low, larger bounce is due, preferably from a bit lower at 0.000008585 area, where I show a green arrow turning up. But, this broker/exchange technology is not catching fire lately, while Bianance has been killing it (see past recos).
ELLIOTT WAVES: CORRECTION or IMPULSE?:
This looks more like a giant correction down. Here’s why:
Angular momentum down on Wave (A) is steeper than the angular momentum down on Wave (C), at least thus far.
Even Wave 3 of (A) is steeper than Wave 3 of Wave (C).
Therefore, Wave (C) is LESS likely to be an Impulse wave. Instead, we are likely in a Wave (C) correction.
CYCLES:
Red cycle in trough phase, with actual trough on 06/20/18. Blue cycle is still heading down.
This often means a big bounce is due, but maybe not a new uptrend yet. Price is more important than time.
Red cycle tops again on 08/08/19, so you'll likely want to be out of any longs before that.
Blue cycle bottoms in early October, 2018, along with some other large cycles in BTC.
DIVERGENCE:
Both RSI(9) and MACD have bullish divergence suggesting the low is getting near.
TARGET UP:
Upside bounce target is the prior Wave IV area, likely launch from the next Andrews Pitchfork and FIBO intersect line, both shown by the green arrows.
BOTTOM LINE:
Possible short-term tradeable low coming. There should be another short sale opportunity, at the prior Wave 4 horizontal black line area, after the expected big bounce.
Have a great week!
DISCLOSURE:
This analysis is meant for educational purposes only. You trade at your own risk!
Cheers!
Michael Mansfield CIO
Second Layer Solutions: Good or Bad for Crypto?We all hear about segwit and what coins have activated it recently, but what is it, and is it really helpful? Does it add value to bitcoin or other coins? What can you do with it? Is it secure? Does it lead to centralization? These are the main points of contention with second layer projects and we will discuss, in short, the reason for these solutions and the myths surrounding them.
When we hear segwit a lot of people instantly think of the lightning network when in fact lightning network is just one solution using segwit to create a second layer solution. These second layers can be thought of as running along side bitcoin and checking in with the main blockchain every once in a while to make sure they don't have any discrepancies. This actually helps blockchains like bitcoin not get too bogged down with every tiny transaction and allows wallets to trade many transactions before bringing them to the blockchain as one big transaction. There are claims that anything not run on the blockchain is not as secure. This may be slightly true but I am of the opinion that blockchain is too secure. Is there a such thing? I believe so. If you are buying a coffee and you have 50$ tied up in your lightning network wallet it is still almost impossible for anyone to steal those funds without signing the transactions as you and then cashing out to the main blockchain. Do you really need the full power of the mining network to verify every time you paid 5$ for a cup of coffee? Or is it more convenient to store up many coffee purchases with the risk that maybe 1 or 2 did not go in your favor and have the option to cash out when you want? Perhaps the coffee was too cold or you don't want to deal with a particular shop anymore. You just cash out the coins in your open channel and the blockchain records them as being in your wallet. Anything both parties signed for is transacted and you are free to part ways. This is analogous to what we do in our everyday lives. We transact and make agreements everyday. If there is a dispute or someone doesn't hold up their end of the bargain, we go to court. The court represents the blockchain. It is costly to go to court but it is super secure and absolute. The transactions we do everyday represent second layer solutions. Many transactions can be made and then taken to court to make them official when we want to solidify them or if we have a dispute. This costs us a lot less in lawyers (miners) fees. This is the most popular and widely talked about example of a second layer solution.
Smart contracts are another. I'm not going to go in depth on smart contracts except to say that they are pieces of code that can be recorded and executed when certain requirements are fulfilled. These pieces of code can reside on the blockchain so that you know your agreement is secure and that the code will successfully execute the way it was agreed upon at the time of signing. This is very useful for allowing two parties to agree on terms of payment without needing a third party to hold the funds for them.
Atomic swaps are another second layer solution. Atomic swaps allow one coin to be directly transacted for another based on an agreed upon exchange rate. That means I could pay someone in bitcoin and they could choose to receive it as litecoin. This has huge implications when it comes to the roll of exchanges and how people currently trade.
Now that you have a general idea of what second layer solutions can do, can you see how helpful they are?
BINANCE COIN / BNBBTC / Ichimoku / Heikin AshiBNB is looking very bullish . I feel the fundamentals behind this token are strong. The long term decentralized vision of Binance makes a lot of sense to me, and they have the capital and liquidity to pull it off. The move to Malta, ability to bring fiat pairs, and a coin that actually has a use (exchange fees), all in all i like this coin a lot.
We have reached the all time high for a double top.
RSI is showing bullish divergence on the 4 hour & the 1 Day chart.
We are well above Kumo, Tenkan and Kijun, showing a very strong trend.
A retracement back to the trend line is likely , but the bullish RSI indicates we may break out and make a new all time high vs BTC.
I am waiting for a strong bounce off of the Tenkan, a white candle with no bottom wick, and a close above the 1 to enter.
I think this is worth keeping an eye on. it's nice to see an all time high in this market. go binance!
Gold to hit $1340 by March (Feb 21 2018)It has been a roller coaster for gold prices soaring after being dormant for a few months in 2017. This year, the main effect I think on Gold is Indian legislation regarding the regulation of Gold and Gold exchanges. This will have the effect of people hoarding their gold, therefore, not selling. These measures being discussed by the finance minister are being watched closely as the Indian market is fond of gold as a product and a technology. I see the price @ $1340 or above possible in the beginning of March.
Iota new exchanges very soon! + Pennant paternIota will be listed on new exchanges in the very beginning of 2018. If there will be Bittrex, we're home. Pennant formation is also on our site. One of biggest project in crypto world, added to my portfolio at 0,8$. Confirmation of new exchanges:
www.facebook.com
$CSSI - Costas: Looking to disrupt the Fin-Tech marketplaceCostas ($CSSI) has released intriguing news lately, covering gambling, cryptocurrency and more. The chart has cooled off enough since the recent move in December that it should be back on radar, especially with the news released late yesterday.
Are Bitcoin Exchanges Up to the TaskWith the very recent spikes up and subsequent cliffs downward, it would be interesting to understand what underlying technologies the exchanges themselves are using because they don't seem to handle the volumes related to Cryptocurrency trading. I've read posts and heard stories where funds were either locked into a trade and serious funds were lost due to the exchange completely blowing up. Are the exchanges themselves running on a bitcoin blockchain, and could they use an upgrade to a better blockchain tech that allows for faster processing. I believe we'll start to see an evolution in exchange offerings...a war if you will, that will separately old tech with new that doesn't have the same hiccups as the current system. In the end, people just want to make a trade...whether it be for profit or a stop loss execution to save the portfolio, and don't want their money tied up. Hopefully the existing exchanges will step up and provide competitive solutions or fall by the wayside to newer, more competent operations.
Possible corretion before going up towards Oct 25thPosibble corrección de precio en nuestro camino de subida hacia el hardfork del 25 de Octubre
