Bitcoin - Crypto investing and trading discussion

Discussion in 'Crypto Forum' started by heyimsnuffles, Dec 22, 2016.

  1. Stockaholic

    Stockaholic Content Manager

    Joined:
    Mar 29, 2016
    Messages:
    13,767
    Likes Received:
    7,050
    nice call @StockJock-e i believe you were calling for that 6k level a little while back ... can't find your post where you made that call here but i do recall it ... i think it was on reddit.
     
  2. StockJock-e

    StockJock-e Brew Master
    Staff Member

    Joined:
    Apr 3, 2016
    Messages:
    9,524
    Likes Received:
    3,526
    With no fundamentals, bitcoin is a pure chart play, so draw some lines and make a call :p
     
  3. rando

    rando Active Member

    Joined:
    Apr 3, 2016
    Messages:
    47
    Likes Received:
    111
    There is this guy over on Trading View that has posted some good crypto charts. Pardon his handle. https://www.tradingview.com/u/MagicPoopCannon/

    He posted a great chart a few weeks ago talking about 5,650 as a big line in the sand, target of a H&S breakdown off the ATH. Converged with several other solid patterns/objectives. Anyway, his charts keep popping up in my news readers/random places. Worth checking out if you're deep in the crypto scene.

    I'm inclined to think we have a pretty good bottom in. One thing to watch is if big money is being distracted by the volatility in the conventional equity markets, will then get more involved again messing with crypto again once volatility dies out, which I'm confident most here think will happen. Hmmm.
     
  4. T0rm3nted

    T0rm3nted Moderator
    Staff Member

    Joined:
    Apr 2, 2016
    Messages:
    8,448
    Likes Received:
    3,268
    Since that low on the 6th, bitcoin is up almost 50% to almost $9K (currently at $8727 as I type this).
     
    Stockaholic likes this.
  5. Stockaholic

    Stockaholic Content Manager

    Joined:
    Mar 29, 2016
    Messages:
    13,767
    Likes Received:
    7,050
    back over 10,000 today

    [​IMG]
     
  6. Steven_Burt

    Steven_Burt 2019 Stockaholics Contest Winner

    Joined:
    Apr 3, 2016
    Messages:
    449
    Likes Received:
    488
    I don't trade it but it looks short here to me:

    btc19.png
     
    T0rm3nted and Onepoint272 like this.
  7. David Smith

    David Smith Member

    Joined:
    Jan 18, 2017
    Messages:
    35
    Likes Received:
    3
    Bitcoin Looks to Test $12K After Overnight Sell-Off
     
  8. StockJock-e

    StockJock-e Brew Master
    Staff Member

    Joined:
    Apr 3, 2016
    Messages:
    9,524
    Likes Received:
    3,526
    I think you meant 9k :D
     
  9. Noyal Brasfield

    Noyal Brasfield New Member

    Joined:
    Dec 13, 2017
    Messages:
    24
    Likes Received:
    5

    Has anyone invested in POTN? What are your thoughts?
     
  10. Noyal Brasfield

    Noyal Brasfield New Member

    Joined:
    Dec 13, 2017
    Messages:
    24
    Likes Received:
    5
    What is your take on $POTN and $GBLX?
     
  11. dsmoney

    dsmoney New Member

    Joined:
    Nov 18, 2016
    Messages:
    12
    Likes Received:
    3
    I think you're asking in the wrong place. Aren't those OTC, not cryptos?

    looks like Bitcoin continuing its recent downtrend
     
  12. StockJock-e

    StockJock-e Brew Master
    Staff Member

    Joined:
    Apr 3, 2016
    Messages:
    9,524
    Likes Received:
    3,526
    9k level again, but still impressive that this level gets so much churn
     
  13. Rock Sexton

    Rock Sexton Meat Popsicle

    Joined:
    Apr 6, 2016
    Messages:
    582
    Likes Received:
    618
    9k is the VAH (Value Area High) established after the breakout from the 950's in 2013. It's tap dancing on it right now, but based on regular volume bars - supply is currently outpacing demand. For continued upward trajectory longs would've needed to see a big increase in demand/buy volume at that level, which is not currently the case.

    A breakdown from the VAL (Value Area Low) would lead further down to re-test the LVN (low volume node) @ the 5k level, if that doesn't hold then complete reversion back to the POC (Point of Control or "most active price"). Bitcoin is no stranger to that kind of pullback. Look at drop from the 950's down to 200.

    Quite honestly when it comes to shapes of a volume profile (the bars on the left), the move up was not favorable to longs with the POC much lower towards the VAL (they ideally would want to see it higher up on that curve). It's considered a "b" shape and the breakout above the VAH (Value Area High) was just excess.



    BTCupdate3-13.JPG
     
    #333 Rock Sexton, Mar 13, 2018
    Last edited: Mar 13, 2018
    Stockaholic and T0rm3nted like this.
  14. Rock Sexton

    Rock Sexton Meat Popsicle

    Joined:
    Apr 6, 2016
    Messages:
    582
    Likes Received:
    618
    To take it a step further - the following is a chart showing the volume profile curve of the fall from 19800 to 6000 overlayed on top of the previous chart I provided. I turned off the log scale to get a better look.

    As you can see it has tested/rejected the POC twice and the second time was on higher volume. This would seem to indicate sellers/shorts in control of the auction. The range should be considered 8,722 to that 11,187 level until it breaks one way or the other.

    BTCupdate3-13(2).JPG
     
    #334 Rock Sexton, Mar 13, 2018
    Last edited: Mar 14, 2018
    Stockaholic and T0rm3nted like this.
  15. StockJock-e

    StockJock-e Brew Master
    Staff Member

    Joined:
    Apr 3, 2016
    Messages:
    9,524
    Likes Received:
    3,526
    So you saying $2000 is coming?

    Nice! ;)
     
  16. Rock Sexton

    Rock Sexton Meat Popsicle

    Joined:
    Apr 6, 2016
    Messages:
    582
    Likes Received:
    618
    Not necessarily.

    There's a large enough volume-by-price bar at the 4k level that could quickly morph into a new POC if enough buyers showed up. Personally I think it's likely there'll be secondary testing of that 6k it bounced from before any lower levels could even be explored.
     
    #336 Rock Sexton, Mar 13, 2018
    Last edited: Mar 13, 2018
  17. Rock Sexton

    Rock Sexton Meat Popsicle

    Joined:
    Apr 6, 2016
    Messages:
    582
    Likes Received:
    618
    Also ..........

    It would behoove Bitcoin to consolidate along the 9000 level for a prolonged period of time like it did back in the 200's and build a new POC. It would add more legitimacy to it as an asset class and remove the speculative dangers.
     
  18. StockJock-e

    StockJock-e Brew Master
    Staff Member

    Joined:
    Apr 3, 2016
    Messages:
    9,524
    Likes Received:
    3,526
    8400 support lost, 8200 being tested here.

    Nothing too exciting, but these are new lows for March.

    I still say its not an official bottom until I see people giving up their GPU miners, that is my signal.
     
  19. Steven_Burt

    Steven_Burt 2019 Stockaholics Contest Winner

    Joined:
    Apr 3, 2016
    Messages:
    449
    Likes Received:
    488
    Can you imagine if you bought the $20k level?? Think I would rather own Tulips right now.
     
  20. Steven_Burt

    Steven_Burt 2019 Stockaholics Contest Winner

    Joined:
    Apr 3, 2016
    Messages:
    449
    Likes Received:
    488
    6900 inevitable at this point imo
     
    Stockaholic likes this.

Share This Page