Bitcoin Price Thread

[Evermore2017]

next support 8K, 6K?

 

[Pekelo]

One thing I can't explain is how the different prices at different exchanges work as support and resistance compared to each other. So let's say at Bitstamp 10K was support, but that price corresponds to 9.7K or 10.3K at other exchanges.

 

[schweiz]

One thing I can't explain is how the different prices at different exchanges work as support and resistance compared to each other. So let's say at Bitstamp 10K was support, but that price correspodents to 9.7K or 10.3K at other exchanges.

In forex these market inefficienties are immediatelly leveled as transactions go thru all markets at the same time; the whole world is connected which each other.

Crypto's have so many different markets that can not be connected in realtime. So it is difficult to compensate quickly the differences.
My 2 cents

 

[vanzandt]

I'm not playing it... but if it were a stock and I was trading off that chart... I'd go ahead and flip to the short side up here at 10.9
It will retest the lows.
Now its trading like stock......

Well, there ya go.
9.6
It needs new money or the weak hands will drive it lower.

 

[Pekelo]

On the weekly we still have about 400 bucks to reach the SMA line, where I expect a serious bounce. Vertical charts almost always correct 50% or more, so this 10K wasn't really a big surprise.

For the year I was expecting the 8K-18K range, not counting a huge negative news.

 

[schweiz]

Well, there ya go.
9.6
It needs new money or the weak hands will drive it lower.

That will be problematic as by now most (idiot) people who just bought because it could only go higher, experienced what it is to lose a lot of money. They will have no money anymore to buy again, and will not be eager to enter in a falling knife scenario.
The gamblers and wannebee traders left the market (or were forced to).

 

[vanzandt]

Someone asked for the 200 Day

 

[Pekelo]

What value is BTC's 200-day MA?

I don't know. What should be a concern for any crypto fan is that the sell off is all across the other cryptos too. Normally, we should see money flowing from the bad ones to the technically good ones.

When all sell off at once that means there is no fundamental backing from the masses, just greedy get rich quick investments, what is quickly dumped when losses increase.

As a counter example, Tesla. People keep buying into it and holding, because they care. They want it to succeed. Not so much with cryptos anymore...

 

[lovethetrade]

BTC @ 8450 Look for a bounce.

 

[NeoTrader]

I don't know. What should be a concern for any crypto fan is that the sell off is all across the other cryptos too.

Just like any stock index... Which happens to be composed of different companies from different segments... A much more diversified area than cryptos... Yet, behaves the same way...
Besides... For someone who allegedly trades based on MA, you seem to care too much about fundamentals...
It's pointless to try to interpret what the masses or anyone will do...