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We're Going Down To A Market Cap of ~$420bn (Volumetric Observations)

This is a very basic take from a volumetric analysis of Bitcoin. Data dates back from yesterday, but today's confirms this prediction.
DISCLAIMER: THIS IS NOT FINANCIAL ADVICE. DO YOUR OWN RESEARCH. THIS IS JUST ME SHARING MY OWN. Hopefully to kill some of the unnecessary FUD out here.
I'll go briefly over the following points:
  1. How we call this prediction for BTC.
  2. Extrapolation to global market cap and other cryptos.
  3. What it means for the crypto space.
  4. Why this information should help you.
Note: I'm not a native english speaker so please forgive in advance any approximation in terminology. Hopefully you can correct my words rather than criticize (assume it's logically correct but using the wrong words, before bashing. I'll humbly accept any criticism too, the point is to discuss.)

1. Volumetric Analysis

Observe this chart, especially the horizontal volume bars on the right, relating to pricing: https://i.imgur.com/ePOS4Ag.png
(Source: Trader of Futures, Published on Jan 29, 2018 on YouTube, link at the bottom. You can watch the video if you want more details about volumetric charts).
Most people look at Technical Analysis from a price standpoint (candles, etc), but this is more backward-looking than forward. In essence it shows what has happened, not what is about to happen.
From a volume standpoint though, you can effectively characterize two very important aspects of a given value:
You can see very clearly that BTC is dull right now over January (horizontally), there's not much incentive to upset the current (downward) trend. Down moves are strong, comparatively to consolidations (horizontal/up moves).
You can also identify the following support levels:
Notice how the volume is much bigger below 8.4k than it is above: this is strong sign that many people are comfortable buying below 8.4k, indicating that there are little chances we go below (everything will be bought). This is currently the strongest next support level for BTC.
Notice also how it's much, much bigger below $5k: reasonably we can assume that BTC cannot move lower. If we break the 5k barrier, it will be bought almost instantly in the $4k-$5k range.
It's all intuition and sentiment, but given the current situation of cryptos (see 3. below), it is very likely that we will go down to 8.4k. It is also very likely that we'll pick back up after that.
Currently, there is resistance around $12k. To break above that level, we'd need volume (horizontally, a push up with enough weight). We'll see how it goes once this bear phase becomes bull again. It's hard to know when the shift back up will happen, but I'd expect in February, and breaking past $12k in March or so.

2. Extrapolation to global market cap and other cryptos (top 25)

Based on prices from yesterday, a dip to $8.44k for BTC would be about 0.85 its price when I took the values (9913 at the time).
It seems that the market is vastly correlated to BTC globally, so if we simply assume a linear move for the market globally, here's what we can expect:
https://i.imgur.com/nJb5Uiw.png
In blue, a 0.85 dip. In pink, a 0.51 dip down to $5k-ish.
Again, it's very likely we will hit the blue values. It's possible, although rather unlikely we'll hit the pink ones.
For any value that's not in this chart, just multiply your coin's current value ×0.85 to get a feel of how much lower it will likely go.
For a more thorough price prediction, we should look at volumes (in pricing, Y-axis) of each cryptocurrency. I don't have time to do that, but you can and would therefore identify the proper support levels for each coin. I assumed here that it's overall "about good enough" to get a feel.

3. The crypto space right now

This is the most subjective part of this post so I'll just echo general sentiment.

Some people have a clear interest for cryptos to go down temporarily

Now that the crypto market has been somewhat legitimized, more and more people want in. They're not willing to buy at ATH obviously, so many are waiting. Others already in are taking profits as they see/saw this bear coming. It's all normal and a factual expectation of any market soaring high, then pausing a bit before going much higher if the underlying fundamentals are good.
The crypto scene right now is a bit of both, good and bad fundamentals (from the tech which is good but mostly beta/alpha, to the use-cases and general legal environment which is uncertain for now and therefore more on the bad sides of things, until such time we clear these unknowns).
Basically, whales are now waiting for the right time to enter. This is our $8.4k support level, as long as there's no major event to upset it (war, stock market crash, basically any macroeconomic bomb).

The somewhat official Bitcoin (BTC) is currently falling out of favor

Versus other cryptos, BTC dominance over the market went from 66% to 33% in a month. It's a huge loss of dominance that it's very unlikely to recover. Many people are already predicting that Ethereum (ETH) will soon take it over.
People also realized that BTC was no more viable as a "peer-to-peer electronic cash system" (words taken from Satoshi Nakamoto in the white paper) and that many other cryptos could be valid candidate. The space is in tremendous innovation, it's a really before-early-adopter phase right now.
Internally regarding Bitcoin itself, there is also much controversy due to forks over fundamental disagreements (namely Bitcoin Cash BHC) and a questionable new direction taken by self-proclaimed official caretakers of BTC (namely "Blockstream").
This is the reason for the feud between Bitcoin (BTC) and btc (BCH). I won't go into it here, but let's just say that overall it's a bit of shitshow that doesn't reflect good upon any bitcoin fork right now, and that appearances can be very, very deceiving, willingly or not from their respective promoters. Personally, I've been flabbergasted at what I've discovered, and I'm pretty sure it will be a big bomb if it ever reaches the attention of major media (it probably won't though).
Basically, BTC is falling out of favor fast from the general public, and this is causing the general crypto market as a whole to pause, reflect, and probably evolve, but that's never as smooth as it seems.
My personal prediction is that the top 3 coins a year from now may possibly not include any bitcoin(s).

Tether, Bitgrail, Bitconnect: time to do some cleaning

These are just examples of FUD-inducing events (some would say with good reasons!) that keep nagging this space with pains that keep it volatile and uncertain.
It's not clear at all when the crypto market will become suitable enough for the real mainstream to enter, not even questioning its use cases for now. But there are thresholds in security, trust, compliance that we have yet to pass with flying colors.
Again, this is causing more uncertainty. Since it's very hard to pinpoint the exact reasons for a surge up or a fall down in value of crypto-values, market actors are taking a stance back before making their bigger moves. Ergo, wait, see what's what.

South Korea, China and the USA are to make big legal moves

We don't know yet what will the legal situation be 6 months from now. What's sure is that official authorities have taken a big deep look at cryptos now, and Asia is by far the biggest investor especially in the mainstream. We're nowhere near that level in the west, although the importance of the USA in the global economy amplifies its decisions from a media standpoint.
Europe is also making moves, although as usually these days, it's a bit of an old dwarf versus Asia and America; its rather conservative population is unlikely to make massive moves (a notable exception is Switzerland for its relative independence from the EU).
This is again more general uncertainty, especially in Korea and China, that begs investors to wait a bit before they move. Hence, the bear is making its run. Big money, the kind that has a clear interest for a lower price, isn't doing anything to stop that trend (see first point).

Big, real, good projects take time

If you look at the development roadmaps and expectations from big projects team members (ETH, NEO...), you'll see that they expect to meet certain very important milestones (notably in scaling) by 2019 or even 2020. We're not there yet for general mainstream VISA-threatening adoption, guys. We still have A LOT of work to do.
Did I already mention that this market needs time?

4. What this information all means for you, how does this help?

Obviously the most important parts were 1. and 2. regarding your investments.
You now have a clearer picture of where we're going, most likely. You can anticipate how much your values will drop if they keep going down. So you can now arm yourself with patience, knowing that it is to be expected.
A bear market sometimes makes casualties, in the form of values (coins, companies, entire sectors...) that had no solid-enough grounds. There are bankruptcies, some teams/projects get bought. Others earn their legitimacy, too.
Don't panic. Just rationalize your investments:
  • Are the projects you support solid? It's not about being big (top 25) or small (in the high hundreds on CMC...), it's about being good, realistic, solving problems. It's about having people that can deliver on their objectives (track record, experience, behavior with other actors and on social media). I have more confidence in some rank 1,000-ish cryptos in my portfolio than some top 25.
  • How deep are their pockets? Dedicated their team? Can they withstand a month or even year-long bear market? Can they keep the payroll going until there's money coming in, i.e. a valid product? How timely is their product versus the chances of adoption? (this is why I insisted on making part 3. above).
You can't necessarily know the real answer to all these questions unless you're an insider, but some projects are better than others at making these unknowns known. Trust your intuition. If something feels off to you, it probably is to some degree. Question is, how comfortable are you supporting them with your own money?

Final words

Expect the dip to continue.

Until you see a market cap of ~420 billions, it's just the natural continuation of current volumes. It's OK, you already know (now...) what it means in terms of numbers in your portfolio. You wouldn't be here in the first place if you weren't ready for dips in-between highs.
If we break below that, sub-$400bn, then chances are we'll be heading for a 50%-ish dip, down to ~250bn. It's OK, too. Don't panic sell. Just be brutally honest with yourself before that, to let go of projects that you don't really believe in (moonshots ICOs and over-hyped coins), remain confident as ever in the ones you trust to see the light eventually.
This is a long term game, we're before early adoption in terms of tech.
There will be many such dips before we get there.
But we'll get there, eventually. That's what we all believe. And we have solid grounds for that belief, it's not faith, it's an educated guess based on how this world and business works.

If you want to double in (buy more), look at volumes to get a general bearing on your favorites.

Look at volumes on your coins. On the general market. Look how big people are moving, not just how high/low a given value is moving (it could be very low volumes and mean not much, if anything at all).
Don't be the sucker that only looks at candles. Spoiler: good traders don't really care for candles. Price analysis. TA. This is all just a reflection of the past. Volume is where it's at to anticipate moves, and you can only mix that with experience and intuition for the market. That's what investing on markets means.
You should never invest in something you don't understand, in a company or project you can't judge for yourself. For instance I understand tech, so I'm comfortable investing in Silicon Valley tech companies. But I know shit about retail even though I read Sam Walton's and Jeff Bezos biography. So I don't invest in those. If you invest in crypto, you should at least know a bit about crypto-tech itself, and you should know about the industry your particular projects are targeting.
None of this post is financial advice (I'm not qualified for that). But this is my only investing advice for you: know what these guys you're giving money to are doing. Be able to have an opinion about their goals, how it fits in the real world.
That's it, peeps. Already long enough I guess.
I'm hoping some nice fellow redditor can make a guide to volumetric analysis on tradingview.com or something.
Have a great day.
Link to the video that inspired me to make this post: https://youtu.be/DMFK6_gA_H4

EDIT: QUICK UPDATE 2018-02-02 10:44 UTC

We're now standing right above the support level for [email protected]$8.4K-ish (Y-axis volume profile). So far this estimation seems to be about right. [disclaimer: it's not just me, several people called this a month ago, I'm actually late to this party.]
  • Answering comments about graph analysis of any kind:
Remember, it's not only graph analysis: a good part of guesstimating markets is just that, guessing, based on intuition/sentiment/experience, whatever you call it. The news do matter, so do the fundamentals (the tech, the target market/sector's readiness for adoption of products (aka S-curve), the legal environment, etc.). Part 3 in this post is mostly why I drew such conclusions from the volume profile, and why I ultimately felt we were going down (and could still go lower). This doesn't change my general feeling that cryptos are here to stay and will be a major part of the economy in the 2020's. Nonetheless, volume profile is a strong indicator of future performance, unless major event —extrinsic (e.g. global crash/war etc.) or intrinsic (e.g. bad fork, legal issues, etc.), for a period about as long as the retracing (here, 4 months, so whatever you infer from these charts above could only go as far as April or so). I feel the market is too new and volatile to infer much further from graphs, after that it's only sentiment.
  • Back to our chart:
We broke below the average growth line from early October (white line + "!" on this graph). I don't think it's very significant, but some people would, so I included it. Notice we only have 2 strong lows to draw this, one (middle) is weak-ish.
There's a big buy wall underneath our current $8.4K support level, so chances are we'll rebound. If we do break below however, we're headed towards the yellow arrow/line ($5K, $250bn market cap or lower if other cryptos keep falling below BTC, and they very well might in average if this is a sanitizing event —which is very much needed for the sanity of this space, imho). Looking at the overall ordered volumes (horizontally), the current fall isn't very much sustained however, about average, indicating a dull movement upset only by previous volume profiles as we speak. An influx of good news could reverse it. Otherwise... brace yourselves.
Edit 2018-02-02 23:30 UTC: the market seems to have stabilized around $410 bn.
Edit 2018-02-07 13:05 UTC: We've hit a low of $270~280 bn, BTC tried the $6K level but bounced. News from the USA seems to have a positive effect, possible recovery ongoing (it's an integral part of the way we read these charts today). Volumes are stronger than ever on this rising trend. We may still see a bigger dip or two but general trend imho looks to be upwards.
We are currently testing a resistance level around $8500 for BTC. (Next one above is 12K-ish and then there's no foreseeable bound. Below we sit above a direct fall to $5.5K).
Edit 2018-02-09 01:50 UTC: We're not in the clear yet, imho. The sentiment is still bearish. There are signs of bulls waiting to come in but we're testing a rather strong resistance level kicking off around $8,400. Below the current $8K price, we do have to confirm or find a floor before we bull back up (last support on Feb 6th was at $6K, history shows a support level around 5,400 (from Nov 12) but volume profile suggests we could test slightly below, $5K support from mid Oct).
I am still observing this market before making another post. I'm about half confident that we're seeing the last bears.
Right now I don't have anything else to say to you other than what I'm personally doing: I'm holding, not buying this dip just yet; waiting to see a second confirmation of the support level in the $5K~6.5K range (i.e. support level). I want to make a most educated decision in the aftermath of this crash. I plan to buy in just after the bull market resumes, once I've had several (at least two) possible confirmations (might be RSI, might be volumes, might be some news/sentiment, might be just a textbook 'W' too).
On the way up, regardless of when it happens, we still have to retest several resistance levels: $12.2K, 13K, 14.6K. BTC is very uncomfortable for some reason around $12K, so I expect turmoil in these areas.
Here's my non-professional advice for crucial times: don't be too hasty. Don't panic over 20% when your end game is 200% or ten times that. Don't fear of missing out by a day or even a week when you're in for years... Many (educated) people still believe $30K~40K for BTC by year's end to be a rather conservative estimate. I concur. So who gives a f--k about $2K more or less now? ; )
Edit 2018-02-12 20:20 UTC:
This time, the volume profile I outlined 11 days ago was rather spot on.
I'm still observing the market honestly, we're in a bit of a horizontal move right now. We did stretch almost to $250bn in the dip, but it seems $420bn really is/was the consolidation average box. It's hard to predict which way it's gonna break out in the short term. (for more info, see "Bitraged" videos on YouTube, they really nail it in their current videos, lots of educational value too; I really like their channel).
What's sure is that, everyday we spend at this market cap is all the more ground to "validate" this $420bn value; in other words as we accumulate historical volume at this level, it means that the crypto market really is worth it (increasingly certainly not less). That's a reassuring sign imho.
I think the real consolidation will happen later this year, probably at a higher market cap, when "good" coins/projects start siphoning the "bad" ones. Big finance involvement (and their many audits, reports, evaluations, etc. destined to their major customers) will sort out the market hopefully more rationally than it is today. I expect this to slowly be reflected on rankings like CMC.
Regarding Q2-Q3, there are increasingly many more signs that the future looks bright overall. However I'm thinking that the involvement of big financial institutions (FI) will likely result in much more regulation and therefore the death of many not-so-fantastic projects/coins, and some exchanges as well. I hope this will truly be the year of decentralized exchanges, so that we have an alternative to big FI's exchanges (I personally would use both, for different purposes).
Personally I'm regrouping my assets around projects I really really trust, those with a promising basis and already established demand (e.g. fiat-to-crypto gates, or crypto management solutions for the mainstream), while planning on investing in some hot-shot ICOs during Q1.
Thanks again for all your comments and pms, I very much appreciate the discussion.
submitted by ikkei to CryptoCurrency [link] [comments]

Bitcoin and Crypto Technical Analysis For beginners

Bitcoin and Crypto Technical Analysis For beginners
Bitcoin and Crypto Technical Analysis For beginners
Crypto traders have several tools to assess the cryptocurrency market. One of them is an approach known as Technical Analysis. Using this method, traders can get a better understanding of the market sentiment and isolate significant trends in the market. This data can be used to make more educated predictions and wiser trades.
Tech analysis considers the history of a coin with price charts and trading volumes, no matter what the coin or project does. As opposed to technical analysis, fundamental analysis is more focused on establishing if a coin is over or under valued.
To get a better idea of technical analysis, it is crucial to understand the fundamental ideas of Dow Theory that tech analysis is based on:
  1. The market considers everything in its pricing. All existing, prior, and upcoming details have already been integrated into current asset prices. With regards to Bitcoin and crypto, this would be comprised of multiple variables like current, past, and future demand, and any regulations that impact the crypto market. The existing price is a response to all the current details, which includes the expectations and knowledge of each coin traded in the market. Technicians interpret what the price is suggesting about market sentiment to make calculated wise predictions about future pricing.
  2. Prices movement aren’t random. Rather, they often follow trends, which may either be long or short-term. After a trend is formed by a coin, it’s probably going to follow that trend to oppose it. Technicians try to isolate and profit from trends using technical analysis.
  3. ‘What’ is more important than ‘Why’. Technicians are more focused on the price of a coin than each variable that produces a movement in its price. Although multiple aspects could have influenced the price of a coin to move in a specific direction, Technicians assertively review supply and demand.
  4. History tends to get repeated. It is possible to predict market psychology. Traders sometimes react the same way when presented with similar stimuli.

Trend Lines

Trend lines, or the typical direction that a coin is moving towards, can be most beneficial for traders of crypto. That said, isolating these trends can be easier said than done. Crypto assets might be substantially volatile, and watching a Bitcoin or crypto price movement chart will probably reveal a selection of highs and lows that form a linear pattern. With that in mind, Technicians understand that they can overlook the volatility and find an upward trend upon seeing a series of higher highs, and vice versa – they can identify a downtrend when they see a series of lower lows.
Additionally, there are trends that move sideways, and in these cases, a coin doesn’t move significantly in either direction. Traders should be mindful that trends come in many forms, including intermediate, long and short term trend lines.

https://preview.redd.it/da6vjht70ze31.jpg?width=1180&format=pjpg&auto=webp&s=dbe876e70fdec10ef644fb95c189d63c5a3bd250
Important tip: you must be accurate when drawing these trend lines! How to do it perfectly? As you hover each candle you will notice the lowest price of it marked as “L” in the top bar (or the highest price, “H”, if line’s direction is down). Now place your line exactly there. Next, extend the line roughly, as it touches the next candle in the trend line, do the same – check exactly the “L” for that candle. Now correct your line. Final step is to auto-extend the line using line’s Settings – Line extend to the desired side (probably right). This explain was for Coinigy charts, but should work well with other chart applications.

Resistance and support levels

As there are trend lines, there are also horizontal lines that express levels of support and resistance. By identifying the values of these levels, we can draw conclusions about the current supply and demand of the coin. At a support level, there seems to be a considerable amount of traders who are willing to buy the coin (a large demand), i.e., those traders believe that the currency is priced low at this level and therefore will seek to buy it at that price. Once the coin reaches close to that level, a “floor” of buyers is created. The large demand usually stops the decline and sometimes even changes the momentum to an upward trend. A level of resistance is exactly the opposite – an area where many sellers wait patiently with their orders, forming a large supply zone. Every time the coin approaches that “ceiling”, it encounters the supply stacks and goes back.
There is often a situation in which trade-offs can be between support and resistance levels: gathering close to support lines and selling around the resistance level. This opportunity usually takes place when lateral movement is identified.
So what happens during breakout of resistance or support level? There is high probability that this is an indicator which is strengthening the existing trend. Further reinforcement of the trend is obtained when the resistance level becomes support level, and being tested from above shortly after the breakout.
Note: False breakouts occur when a breakout happens, but the trend doesn’t change. Hence, we must use some more indicators, such as trading volume, to identify the trend.

https://preview.redd.it/8f1vqc3b0ze31.jpg?width=1180&format=pjpg&auto=webp&s=54fbb7fec419c0371d98cf3ddcbbb9e4658ef083

Moving averages

Another technical analysis tool for crypto currencies and technical analysis in general, in order to simplify trend recognition, is called moving averages. A moving average is based on the average price of the coin over a certain period of time. For example, a moving average of a given day will be calculated according to the price of the coin for each of the 20 trading days prior to that day. Connecting all moving averages forms a line.
It is also important to recognize the exponential moving average (EMA), a moving average that gives more weight in its calculation to the price values of the last few days than the previous days. An example is the calculation coefficient of the last five trading days of EMA 15 days will be twice that of the previous ten days.
In the following graph we can see a practical example: If a 10-day moving average crosses above a 30-day moving average it might tell us a positive trend is coming.

https://preview.redd.it/xax0ncne0ze31.jpg?width=1180&format=pjpg&auto=webp&s=4b62a779e38f404be2a514a9ef24d70ceb7594e9

Trading Volume

Trading volume plays an important role in identifying trends. Significant trends are accompanied by a high trading volume, while weak trends are accompanied by a low trading volume. When a coin goes down it is advisable to check the volume which accompanied the decline. A long-term trend of healthy growth is accompanied by a high volume of increases and a low volume of declines. It is also important to see that volume is rising over time. If the volume is decreasing during increases, the upward trend is likely to come to an end, and vice versa during a down trend.

https://preview.redd.it/7f0jtpdf0ze31.jpg?width=1180&format=pjpg&auto=webp&s=158faecaa903156e949dc6d3e6c11f054bbba9fc

Not on the technical analysis alone

Using technical analysis, traders can identify trends and market sentiment and they also have the ability to make wiser investment decisions. However, there are a number of key points to consider:
Technical analysis is a practical method that weighs past prices of certain coins and their trading volume. When considering entering a trade, it is not recommended that you only rely on technical analysis. Especially in the field of crypto, a field that often generates news, there are fundamental factors that have a significant impact on the market (such as regulations, ETF certificates, mining hash, etc.). Technical analysis only ignores and can’t predict these factors, so the recommendation is to mix together the technical analysis and the fundamentals analysis to make wise investment decisions.
An analyst who makes a decision to buy a particular coin due to fundamental reasons can get technical support or find a good technical entry point and thus strengthen the trade’s ROI.

From Theory to Implementation: How to start and identify trends?

In order to get started, we need an analytics tool that draws graphs quickly and easily. You can use the existing graphs of the crypto exchanges, but they don’t provide trend lines and they only provide partial indicators.
TradingView: The well-known graph and charting service, with wide variety of options. Mostly free, except from premium paid features.
Coinigy provides a comprehensive charting service among all trading coins and crypto exchanges. You can register following this link and get 30 days free trial.
This guide had presented the basic concepts in technical analysis among crypto. It is recommended that you deepen your knowledge in the field if you wish to implement tech analysis: indicators, Fibonacci levels, patterns (triangles, for example), and more. In our following featured article you will read about 8 tips for trading crypto. Some touch the technical aspect.
December 2017 update: We recently published an advanced guide for crypto technical analysis.
Original Link to Article: https://cryptopotato.com/bitcoin-crypto-technical-analysis-beginners/
submitted by Tokenberry to NewbieZone [link] [comments]

[uncensored-r/CryptoCurrency] We're Going Down To A Market Cap of ~$420bn (Volumetric Observations)

The following post by ikkei is being replicated because some comments within the post(but not the post itself) have been openly removed.
The original post can be found(in censored form) at this link:
np.reddit.com/ CryptoCurrency/comments/7uj9ss
The original post's content was as follows:
This is a very basic take from a volumetric analysis of Bitcoin. Data dates back from yesterday, but today's confirms this prediction.
DISCLAIMER: THIS IS NOT FINANCIAL ADVICE. DO YOUR OWN RESEARCH. THIS IS JUST ME SHARING MY OWN. Hopefully to kill some of the unnecessary FUD out here.
I'll go briefly over the following points:
  1. How we call this prediction for BTC.
  2. Extrapolation to global market cap and other cryptos.
  3. What it means for the crypto space.
  4. Why this information should help you.
Note: I'm not a native english speaker so please forgive in advance any approximation in terminology. Hopefully you can correct my words rather than criticize (assume it's logically correct but using the wrong words, before bashing. I'll humbly accept any criticism too, the point is to discuss.)

1. Volumetric Analysis

Observe this chart, especially the horizontal volume bars on the right, relating to pricing: https://i.imgur.com/ePOS4Ag.png
(Source: Trader of Futures, Published on Jan 29, 2018 on YouTube, link at the bottom. You can watch the video if you want more details about volumetric charts).
Most people look at Technical Analysis from a price standpoint (candles, etc), but this is more backward-looking than forward. In essence it shows what has happened, not what is about to happen.
From a volume standpoint though, you can effectively characterize two very important aspects of a given value:
  • horizontally (time axis), you can retrace the actual weight, so to speak, of a move. How much global pressure there is/was in moving (the actual move is based on the average of ups and downs in a given time-frame, but how much volume overall tells you if the market is dull/weak or jacked/strong).
  • vertically (price axis), you can effectively characterize the actual levels at which traders are comfortable. When you see a low in volume on the Y-axis, it means that people are avoiding this price point, hence the valuation will usually either stop there ("support" or "resistance" level) or move past it. Which way depends on fundamentals (internal/external), which we'll discuss in 3. below.
You can see very clearly that BTC is dull right now over January (horizontally), there's not much incentive to upset the current (downward) trend. Down moves are strong, comparatively to consolidations (horizontal/up moves).
You can also identify the following support levels:
  • ~$8.44k
  • ~$5k
  • ~$3k
Notice how the volume is much bigger below 8.4k than it is above: this is strong sign that many people are comfortable buying below 8.4k, indicating that there are little chances we go below (everything will be bought). This is currently the strongest next support level for BTC.
Notice also how it's much, much bigger below $5k: reasonably we can assume that BTC cannot move lower. If we break the 5k barrier, it will be bought almost instantly in the $4k-$5k range.
It's all intuition and sentiment, but given the current situation of cryptos (see 3. below), it is very likely that we will go down to 8.4k. It is also very likely that we'll pick back up after that.
Currently, there is resistance around $12k. To break above that level, we'd need volume (horizontally, a push up with enough weight). We'll see how it goes once this bear phase becomes bull again. It's hard to know when the shift back up will happen, but I'd expect in February, and breaking past $12k in March or so.

2. Extrapolation to global market cap and other cryptos (top 25)

Based on prices from yesterday, a dip to $8.44k for BTC would be about 0.85 its price when I took the values (9913 at the time).
It seems that the market is vastly correlated to BTC globally, so if we simply assume a linear move for the market globally, here's what we can expect:
https://i.imgur.com/nJb5Uiw.png
In blue, a 0.85 dip. In pink, a 0.51 dip down to $5k-ish.
Again, it's very likely we will hit the blue values. It's possible, although rather unlikely we'll hit the pink ones.
For any value that's not in this chart, just multiply your coin's current value ×0.85 to get a feel of how much lower it will likely go.
For a more thorough price prediction, we should look at volumes (in pricing, Y-axis) of each cryptocurrency. I don't have time to do that, but you can and would therefore identify the proper support levels for each coin. I assumed here that it's overall "about good enough" to get a feel.

3. The crypto space right now

This is the most subjective part of this post so I'll just echo general sentiment.

Some people have a clear interest for cryptos to go down temporarily

Now that the crypto market has been somewhat legitimized, more and more people want in. They're not willing to buy at ATH obviously, so many are waiting. Others already in are taking profits as they see/saw this bear coming. It's all normal and a factual expectation of any market soaring high, then pausing a bit before going much higher if the underlying fundamentals are good.
The crypto scene right now is a bit of both, good and bad fundamentals (from the tech which is good but mostly beta/alpha, to the use-cases and general legal environment which is uncertain for now and therefore more on the bad sides of things, until such time we clear these unknowns).
Basically, whales are now waiting for the right time to enter. This is our $8.4k support level, as long as there's no major event to upset it (war, stock market crash, basically any macroeconomic bomb).

The somewhat official Bitcoin (BTC) is currently falling out of favor

Versus other cryptos, BTC dominance over the market went from 66% to 33% in a month. It's a huge loss of dominance that it's very unlikely to recover. Many people are already predicting that Ethereum (ETH) will soon take it over.
People also realized that BTC was no more viable as a "peer-to-peer electronic cash system" (words taken from Satoshi Nakamoto in the white paper) and that many other cryptos could be valid candidate. The space is in tremendous innovation, it's a really before-early-adopter phase right now.
Internally regarding Bitcoin itself, there is also much controversy due to forks over fundamental disagreements (namely Bitcoin Cash BHC) and a questionable new direction taken by self-proclaimed official caretakers of BTC (namely "Blockstream").
This is the reason for the feud between Bitcoin (BTC) and btc (BCH). I won't go into it here, but let's just say that overall it's a bit of shitshow that doesn't reflect good upon any bitcoin fork right now, and that appearances can be very, very deceiving, willingly or not from their respective promoters. Personally, I've been flabbergasted at what I've discovered, and I'm pretty sure it will be a big bomb if it ever reaches the attention of major media (it probably won't though).
Basically, BTC is falling out of favor fast from the general public, and this is causing the general crypto market as a whole to pause, reflect, and probably evolve, but that's never as smooth as it seems.
My personal prediction is that the top 3 coins a year from now may possibly not include any bitcoin(s).

Tether, Bitgrail, Bitconnect: time to do some cleaning

These are just examples of FUD-inducing events (some would say with good reasons!) that keep nagging this space with pains that keep it volatile and uncertain.
It's not clear at all when the crypto market will become suitable enough for the real mainstream to enter, not even questioning its use cases for now. But there are thresholds in security, trust, compliance that we have yet to pass with flying colors.
Again, this is causing more uncertainty. Since it's very hard to pinpoint the exact reasons for a surge up or a fall down in value of crypto-values, market actors are taking a stance back before making their bigger moves. Ergo, wait, see what's what.

South Korea, China and the USA are to make big legal moves

We don't know yet what will the legal situation be 6 months from now. What's sure is that official authorities have taken a big deep look at cryptos now, and Asia is by far the biggest investor especially in the mainstream. We're nowhere near that level in the west, although the importance of the USA in the global economy amplifies its decisions from a media standpoint.
Europe is also making moves, although as usually these days, it's a bit of an old dwarf versus Asia and America; its rather conservative population is unlikely to make massive moves (a notable exception is Switzerland for its relative independence from the EU).
This is again more general uncertainty, especially in Korea and China, that begs investors to wait a bit before they move. Hence, the bear is making its run. Big money, the kind that has a clear interest for a lower price, isn't doing anything to stop that trend (see first point).

Big, real, good projects take time

If you look at the development roadmaps and expectations from big projects team members (ETH, NEO...), you'll see that they expect to meet certain very important milestones (notably in scaling) by 2019 or even 2020. We're not there yet for general mainstream VISA-threatening adoption, guys. We still have A LOT of work to do.
Did I already mention that this market needs time?

4. What this information all means for you, how does this help?

...
submitted by censorship_notifier to noncensored_bitcoin [link] [comments]

5 Tips for Successful Bitcoin Trading

Our last post had a warm reception among the advanced traders here.
We felt like we should produce some help for the new traders too. At BTC.sx we see a lot of traders lose money from simple mistakes that can be avoided. Armed with this insight and over 60 years of collective experience in finance, we have produced 5 tips that should be a big help to new traders.
5 Tips for Successful Bitcoin Trading Essential information you should know before placing your first trade
This post is aimed at those with very little knowledge of financial markets.
Bitcoin has encouraged many to take an interest in finance and allows easy access to financial exchanges. Consequently a large number of people are attempting to trade Bitcoin, without any prior trading experience.
At BTC.sx we sometimes see traders make simple mistakes that could be avoided with a basic understanding about trading and investing.
Let’s take a look at the five most common mistakes new traders make and how to avoid them:
1. Do not invest more than you can afford to lose
https://d262ilb51hltx0.cloudfront.net/max/800/1*dP87BcY7IMn9aIrwTT1ykg.jpeg
Any financial investment can produce losses, rather than returns. With a highly speculative investment, such as Bitcoin, there is a high chance that you can see very large gains or losses. By trading Bitcoin, there is also further scope to lose money from poor decision-making.
One should invest such an amount that they feel comfortable with losing completely — be prepared for the worst eventuality. There are two reasons for this.
Firstly, successful investors diversify their portfolio. Allocating too many funds to an asset class increases risk exposure. This makes it harder for gains in other assets to cover losses in another asset.
You cannot lose more than you put in, so don’t put in more than you can afford to lose and you’ll be all right, even in the most negative case. - Rpietila
Secondly, investing more than one can afford to lose reduces an investor’s ability to make good decisions. In particular, there is a risk of ‘panic selling’ when the market declines slightly. Instead of holding throughout a market dip, one who is over-invested may panic and sell-off their holdings for a low price — attempting to cut their losses. This tends to lead to losing more money when the market recovers and the trader buys back at a higher price.
2. Set goals for each trade
Setting goals helps traders remain level-headed during periods of extreme volatility. This is highly important for Bitcoin trading. When placing a trade, determine what price to take profits or cut losses in advance.
The benefit of this is that it is easier to prevent trading decisions based purely on emotions. For example, a trader with no target price may make a profitable trade, become greedy, and then fail to realize their profits while the market is still on their side.
This chart shows the typical emotions an investor may go through and how they make it harder to ‘buy low and sell high’.
https://d262ilb51hltx0.cloudfront.net/max/800/1*0tpcgBQ51awHWDhdPy2qUw.jpeg
The use of goals / price targets can prevent traders becoming greedy when experiencing euphoria and despondent after a market crash.
3. Learn how to read charts
Although technical analysis is a difficult skill to develop, new traders at a minimum should know the basics of chart reading to identify market trends.
The most widely used Bitcoin charting tool is Bitcoin Wisdom. Despite looking overwhelming at first, it is actually very intuitive. Here are the basics a new trader should understand:
Candlesticks - these are the rectangles and lines that resemble a candlestick shape. They are used to show what the price has done within a chosen time interval, which in this example will be one day.
https://d262ilb51hltx0.cloudfront.net/max/800/1*G7g3tvOz4XRcxFX9eZ4icg.png
Take a look at the candlestick highlighted by the blue box. There are several pieces of information we can gather from this single candlestick:
Opening price — this is the part of the rectangle that is horizontal to the candlestick to the left. On this day, the price opened at approximately $400 (which was the closing price of the day before).
Closing price — this is the part of the rectangle that is horizontal to the candlestick to the right. On this day, the price closed at approximately $378 (which was the opening price of the day after).
Price direction — as the closing price is less than the opening price, the price of Bitcoin fell, therefore the candlestick is red.
Highest price — the highest point of the stick shows that, during this day, the price reached approximately $407.
Lowest price — the lowest point of the stick shows that, during this day, the price fell to approximately $368.
Trading range — the difference between the highest price and the lowest price shows the range that the price was trading in.
Order book — this is a list of the prices and quantities traders are willing to buy and sell Bitcoin.
https://d262ilb51hltx0.cloudfront.net/max/391/1*GmjoL5vhYY834J4w7vu7jg.png
The ‘asks’ (sell orders) are listed in the top half, and the ‘bids’ (buy orders) are the listed in bottom half. The difference between the lowest ask ($361.95) and highest bid ($360.95) is known as the ‘spread’.
The second section with the scroll bar shows live trades, which can be used to see what is happening in the market right now.
Lastly, Bitcoin Wisdom projects how the price may move based on the order book. This can be indicated by the green and red lines at the end of the chart.
How can a trader use this information? It allows short-term support and resistance levels to be identified quickly.
For example, if there is an order to sell 5,000 Bitcoin at $362, the price will have a lot of resistance at this level. This is because buyers will fullfil the cheapest sell order available to them and, given 5,000 Bitcoin is a huge quantity, this will be sufficient to satisfy buyers for a few days. It is only when this order has been fulfilled, there is potential for the price to move above $362.
It is worth watching the live trades and bids / asks being fulfilled to get a feel for how an exchange works. Keep in mind that a buyer will want to buy at the cheapest price for their desired quantity. So they will buy as much Bitcoin as possible at the cheapest price, and then the next cheapest price if the original ask contains an insufficient quantity of Bitcoin. It is this scenario that increases Bitcoin’s price — or decreases Bitcoin’s price in an opposite scenario.
Logarithmic scales — using just linear scales makes it difficult to track Bitcoin’s price over a longtime span. This is because linear scales have with Y Axis values of equidistant. This linear Y Axis is easily distorted by extreme values, which Bitcoin’s price is famous for recording.
In contrast, logarithmic scales have a Y Axis that changes values according orders of magnitude. This prevents chart distortion and can reveal hidden trends in Bitcoin’s price. Observe the difference below:
Linear Bitcoin chart:
https://d262ilb51hltx0.cloudfront.net/max/1186/1*uU1WEvsAchNcdK8iGI2XJg.png
Logarithmic Bitcoin chart:
https://d262ilb51hltx0.cloudfront.net/max/1177/1*t6JwI7xM_BBcZasWvGgmWg.png
The logarithmic chart has revealed another rally that was completely hidden on the linear chart. This is useful to assess the long-term trend of Bitcoin.
4. Do not set stop losses too low
A stop loss is an automatic trigger to liquidate your position if your losses reach a certain value — essentially stopping you from losing any more. They are a good tool to take advantage of.
However, at BTC.sx we recommend that traders do not use a stop loss that is too small. Choosing 10:1 leverage means that your deposit is 1/10th of the position size. This deposit determines the stop price, the price at which a position can drop to until the deposit can no longer cover the position’s loss. At $200, the default stop will be $20 away (or 10% of $200). Anything less than the position’s default stop will increase the risk of a position closing out very quickly because of minor fluctuations in the price of Bitcoin.
Here as an example from the rally of Winter 2013 to demonstrate this:
https://d262ilb51hltx0.cloudfront.net/max/1192/1*-T0MDCOxwXaUgf_XcvlOZA.png
In this hypothetical case, a trader with a default stop at 10:1 would have lost out on a huge rally. They bought-in at the right time, but because their stop loss was set too low, their Bitcoin were automatically sold at a loss during a minor fluctuation.
It is important to note that lower leverage options result in a larger stop and as a result is considered a much safer way of exploring the basics of trading.
5. Close unprofitable & leveraged positions within 24 hours
Leverage is borrowing or lending an asset in hope that it appreciates or depreciates, respectively. At BTC.sx, we give traders the ability to enter long (buy) or short (sell) positions with 2:1, 5:1 or 10:1 leverage.
If a trader shorted 1 Bitcoin at 5:1 leverage, for example, the total investment is 6 Bitcoin. To make a profit the price must fall, allowing the owner to reclaim ownership at a lower price.
However, the price of a Bitcoin must fall sufficiently to cover the trading fee and the interest fee charged on borrowing the 5 Bitcoin. Do not fear if this sounds complicated! We have integrated a breakeven calculator into our trading interface to automatically show what price movement is required to return a profit.
Our daily interest charge is applicable up-front for every 24 hour period with the first 24 hours being free. Thereafter a trader must ensure that there is sufficient balance in their account to cover the cost and ensure the position remains open for each subsequent 24 hour period. In the foreign exchange trading markets, this is referred to as Rolling Spot FX. As the Bitcoin market is volatile, it can be hard to make a daily profit when the price is prone to change direction quickly.
Put simply, we recommend that inexperienced traders close unprofitable positions within 24 hours to avoid paying re-occurring interest.
Summary
We hope this post has been informative. The key takeaways from this post are:
Do not invest more than you can afford to lose
Set goals and target prices for each trade
Learn how to read charts
Do not set stop losses under $20
Do not keep unprofitable positions open for longer than 24 hours
If you feel ready to trade your first Bitcoin, click here to use our trading platform
submitted by BTC_sx to BitcoinMarkets [link] [comments]

How to Trade Bitcoin Part 2: Making Your First Trade

The second post in our bitcoin trading series covers the basics of making a successful trade. From identifying a trend, to timing positions, this post will show you the tactics used by top bitcoin traders.
This post is divided into three sections:
How to read charts
Identifying market trends
Opening and closing positions
Section 1: How to Read Charts
http://i.imgur.com/iSg3qgd.png
At first charting websites, like BitcoinWisdom, appear to offer an overwhelming amount of information. However, they are easy to learn when you break it down section by section.
http://i.imgur.com/dS85Et8.png
Candlesticks / price chart
http://i.imgur.com/cxjao6l.png
Candlesticks are the most widely used method of tracking prices. This because they convey a lot of information in little space.
A candlestick is the rectangles and lines that resemble a candlestick shape. They are used to show what the price has done within a chosen time interval, which in this example will be one hour.
http://i.imgur.com/k196Sx5.png
Price direction
As the closing price is less than the opening price, the price of bitcoin fell. Therefore the candlestick is red. If the price rose the candlestick would be green.
Highest price
The highest point of the stick shows that, during this hour, the price reached approximately $238.
Lowest price
The lowest point of the stick shows that, during this day, the price fell to approximately $233.
Opening price
This is the part of the rectangle that is horizontal to the candlestick to the left. In this hour, the price opened at approximately $237 (which was the closing price of the hour before).
Closing price
This is the part of the rectangle that is horizontal to the candlestick to the right. In this hour, the price closed at approximately $234 (which was the opening price of the next hour).
Sometimes the highest and lowest price can occur at the same time the hour begins or closes. The first candlestick on the left is an example of this.
Volume
http://i.imgur.com/PKs7IfB.png
This is perhaps the most simple part of a charting interface. Volume measures the amount of trading that has taken price in a certain time period. By default, most bitcoin charting websites measure volume in terms of bitcoin.
Order Book
http://i.imgur.com/X1zWdjI.png
An order book is an integral part of a bitcoin exchange. The order book is a record of market makers wanting to buy/sell at specific prices and quantities. A full explanation of an order book is covered in part 1 of our bitcoin trading guide.
At BTC.sx, we offer direct market access, which means that the trades you make on our platform include the exchanges’ order books.
Trades
http://i.imgur.com/kpELf6k.png
The trades list is a record of recent trades. In this case, the most recent trades was a the sale of 10 bitcoins at $234.80 per bitcoin. This can be used to see at a glance what is happening in a high amount of detail.
MACD
MACD stands for moving average crossover divergence. Do not worry if this sounds complicated — all will become clear in the next section. For now, just think of the MACD as a rough guide of the momentum price changes have.
http://i.imgur.com/0RVSbhN.png
The MACD is an important tool for many traders for identifying market trends, which is our next section.
Section 2: Identifying Market Trends
A trend is a general direction that the price is moving towards - either upwards, flat or downwards. An upward trend is often called a bull market, while a downward trend is called a bear market.
Looking back at bitcoin’s price history, we can see numerous bullish and bearish trends. The price of bitcoin is rarely stable!
http://i.imgur.com/Ar4B5Z7.png
Generally, beginner traders should attempt to trade according the broader market trend. Although it is possible to profit from a long / buy position in a bear market, this requires traders to time their entry and exit points very carefully. This is covered towards the end of this post.
How can I spot a trend?
It is quite easy to look back a plot the bull and bear markets on a chart. However it is more difficult to identify the current market trend .
To help traders identify the current trend, there are three common tools that are used.
1. Moving Averages
A moving average is the average price of bitcoin over a rolling time period. Moving averages are particularly useful for bitcoin because they smooth out random price fluctuations — which are common in bitcoin markets.
There are two types of moving averages. Firstly, simple moving averages (SMA) average prices equally and is calculated by:
(price+price+price…) / number of price intervals = SMA
Secondly, exponential moving averages (EMA) average prices unequally. Instead, EMA places greater importance to more recent prices. A formula for EMA looks something like:
((price * large weight)+(price * medium weight)+(price * small weight…)) / number of price intervals = EMA
If you hear the phrase 30 day moving average, this means that 30 price intervals have been used in the formula, with each interval being 1 day long.
Below is comparison of how different the SMA and the EMA looks on a chart. The blue line represents a short-term average, which uses shorter price intervals. The orange line represents a long-term average, which uses longer intervals.
SMA
http://i.imgur.com/ODmJ29P.png
EMA
http://i.imgur.com/t71KpSr.png
Although there does not appear to be too much difference. The points at which the short-term and long-term averages crossover are very different. For beginners, using a SMA is generally sufficient to identify trends.
Identifying trends with moving averages is simple. When the short-term average (blue line) is above the long-term average (orange) line, the price is rallying. When the short-term average (blue line) is below the long-term average (orange) line, the price is falling.
Moving averages also provide data for the MACD, which is our next recommended tool to spot trends.
2. MACD
The MACD, as mentioned earlier, shows both price momentum and direction. It is calculated by subtracting a long-term EMA from the short-term EMA.
http://i.imgur.com/BKSWw19.png
Moving averages simply show the price direction. The MACD also shows the price momentum. If there is a large difference between the two moving averages used in the calculations, then this indicates strong momentum. Or a small difference indicates weak momentum.
Momentum is shown in two formats on the MACD, but represent the exact same calculation. These formats are the histogram and the lines, which look similar to moving average lines.
Worked explanation
Using the right hand-side of the above MACD, we can see that the price has upward momentum. This because the histogram is green and pointing upwards. We can also see this because the short-term moving average (blue line) is above the long-term moving average (orange line).
This must mean that when the MACD was calculated, a positive number was obtained.
http://i.imgur.com/jCqdZ4T.png
Top trading tip: the MACD is more useful as a long-term indicator. In particular, the three day MACD chart is popular among traders at /bitcoinmarkets. It has historically been a good predictor of incoming price movements for bitcoin (shown above). The third tool are crossovers, which can apply to both moving averages and the MACD.
3. Crossovers
Moving averages and the MACD are great for identifying trends. But as a trader you want to be buying low and selling high. To do this you need to know when a trend begins and ends. This is what crossovers show.
Crossovers can apply to both moving averages and the MACD. Let’s first look at moving average crossovers.
Moving average crossovers
A moving average crossover is when the short-term moving average crosses over the long-term moving average. These have been identified on the below chart with yellow circles.
http://i.imgur.com/mWHZEA9.png
As you can see, each crossover signals the end of the previous trend and the start of the next trend.
As a trader you should aim to buy when a bull trend starts — the short-term moving average (blue line) moves above the long-term moving average (orange line).
Conversely, you should aim to sell when a bear trend starts — the short-term moving average (blue line) moves below the long-term moving average (orange line).
BTC.sx CEO, Joe Lee, used moving average crossovers to turn $100 into $200k in trading bitcoin. Read our interview with him here.
MACD crossovers
MACD crossovers are very similar to moving average crossovers. A crossover occurs in two circumstances:
When the MACD calculation stops producing a negative number and starts producing a positive number. This is a bullish crossover.
When the MACD calculation stops producing a positive number and starts producing a negative number. This is a bearish crossover.
Don’t worry if this sounds complicated! Remember that this can be easily seen from the histogram or lines. The below chart has highlighted MACD crossovers with yellow circles.
http://i.imgur.com/9f1Kulx.png
These circles have been drawn on the histogram, but could have been drawn on the lines. You can use whatever you prefer in your own trading.
You should aim to buy when a bull trend starts — the histogram becomes green.
Conversely, you should aim to sell when a bear trend starts — the histogram becomes red.
Armed with this knowledge, you can now start thinking about what your next trade should be.
Section 3: Opening and Closing Positions
You may recall from our the first part of our bitcoin trading guide, that a position has an open and a close. We will now walkthrough how this is done.
By this point you should have a few ideas on where the price of bitcoin might be headed, signed up on BTC.sx and have made a deposit. These are also explained explained in the first part of the trading guide.
First let’s look at opening positions.
Opening Positions
1. Ensure there is a sufficient Balance to Open the Trade. Cross-check your Account Balance, and ensure their are enough funds to cover the following -
Trade Deposit, Open Fee and Close Fee.
http://i.imgur.com/hPbxIAs.png
http://i.imgur.com/tKhfv39.png
2. Choose Position Size (trade size out to market)
This can be adjusted by moving the slider, or selecting the over-type icon to manually input the value. Similarly, you can use the up/down and left/right arrows on your keyboard.
http://i.imgur.com/VNkSELC.png
3. Choose Trade Leverage Option
http://i.imgur.com/P40gmZA.png
4. To Execute a Trade position
Click the Buy or Sell Button — depending on the market trend.
http://i.imgur.com/ntWKSo1.png
Trade execution ‘in progress’ is indicated with spinning arrows.
http://i.imgur.com/tl1XsR7.png
Trade confirmation is indicated by pop-up timestamp
http://i.imgur.com/W4SpM2e.png
5. Position is now open
Initially all positions open with a negative profit. This is because the price has not moved enough to cover trade fees. It is important to be patient and allow the price sufficient time to change in order to become profitable.
http://i.imgur.com/wA0PDEN.png
Closing a position
1. Timing the close
The exact time that you close a position is very important because it is the final action that determines your profitability.
As mentioned above, one strategy is to close your position when the market trend changes against you. For example, if you opened a long during a bullish crossover, you may want to close that long if a bearish crossover happens afterwards.
Another strategy is to close your position at the peak of a price rally or the bottom of a price crash. Although this is much harder to spot, it can be more profitable if you time your close well.
Worked example
http://i.imgur.com/qmW8mmj.png
In this example we have spotted a bearish crossover on the MACD and have decided to enter a sell position at $230.
Initially the trade screen tells us that our position is not profitable. However, we are patient and the price continues to fall. The trade screen is now telling us that we are profitable and we are now looking for an exit price.
If we wait for the next crossover we close our position at $220 — not a bad profit. However if we close near $213 we make an even larger profit.
Top trading tip: to spot the bottom of the price crash, we should continue to watch the MACD. When the histogram bars start becoming smaller, this indicates that trend may be starting to reverse.
Although this signal is not as reliable as a crossover, it is the point of maximum financial opportunity:
http://i.imgur.com/Pv7BqB3.png
2. Closing the position
Simply click the trade Liquidate button to execute the Close Order with the exchange.
http://i.imgur.com/fPthjEj.png
Trade Engine executes a Market Close Order at the Exchange.
http://i.imgur.com/gZglexY.png
Trade Liquidation — Profit/Loss calculations take place.
3. Position is Reconciled
The account balance has now increased as a result of the profitable trade
http://i.imgur.com/Lp6u3ob.png
Conclusion
You should now be in a position where you can make basic trades on BTC.sx that are based on a simple analysis on the market direction.
In part 3 we will be covering the basics of technical analysis, including support and resistance patterns. Like us on Facebook or follow us on Twitter for future updates.
If you have not yet signed up for an account on BTC.sx click here. The registration process takes just two minutes and does not require any identity verification documents.
submitted by BTC_sx to BitcoinMarkets [link] [comments]

Hangout w/ TradingView Co-founder & CTO Constantine -- Tuesday 10AM (NEW features and functionalities)

We will be having a hangout w/ TradingView Co-founder & CTO Constantine at Tuesday 10AM Central Chicago Time -- TradingView has become one of the standard charting platforms for Bitcoin Traders and we are going to hear about some of the new feature rollouts and functionalities they are working on -- as well as feedback from the traders on the panel
Event page: https://plus.google.com/events/crdrpmtqqjeq5og23i9up70kdr4
Youtube link: http://www.youtube.com/watch?v=lsyXjTmdy1I
RAW Google Doc questions & outline:
Intro
what is the 40,000 foot view of what TV wants to be in the trading industry
I noticed we’ve had a lot of issues with the site recently. indicators not loading properly. the side bar becoming invisible… do you want to explain what happened here ?
what has tradingview been working on since we last spoke I know you (Constantine) have mentioned being able to trade from the TradingView interface… is this for brokers, bitcoin.. who is doing the implementing and how it is all going to work… There’s a lot of work there.. orders need to be placed.. viewed.. and so on… can you tell us about this and how you see it working. Eventually we could see where the alerts we have set up can be buy or sell generated orders -- ton of work here -- I believe this is a function of ninjatrader currently ?
Whats Changed
Good new changes have happened since last time -- mobile actually works alright, but did notice that when viewing ‘multi view / multi chart’ charts which have been ‘expanded’ to only show the one main chart.. there is no button to switch to the other charts… ie: back to the split view
Bad changes have happened since last time -- People can no longer log in to tradingview via multiple devices.. everyone wants to use multiple devices.. we all have pc’s.. multiple.. tablets.. phones.. the current ‘only login per device’ is just annoying not worth pissing off customer to get some extra dollars
Things we want. Now.
Alerts are getting better -- Although alarms are implemented for many crossover and individual functions such as ‘candle conditions’ are difficult to isolate within pinescript. Are there any plans to make the alert system more robust? It still needs a lot of work
Market Scanning Searching the entire market for a set of detected parameters Ie ‘hot zones’, etc. using our custom scripts is highly desired and provided by some of your competition. Are there any plans to implement some type of market scanning feature?
Minimizing indicators Some of my charts with multiple ema’s, SCMR, RSI, MACD..etc the indicators list on the left hand side ends up taking up a lot of charting real estate.. can we now ‘minimize’ these to hide them out the way ?
on the top of the toolbar is a “chart properties” icon. click that and select the ‘background’ tab and deselect ‘indicator titles’ to have them not shown on your chart.
Feed Submission… There has been criticism by bitcoin users constantly.. and exchange operators etc with regards to speed in which feeds get added to TradingView. We need to the ability or tools on your platform to add our own feeds. Like anything we care about we want it on TradingView.. and we won’t want to have to wait for you to add it… we want to just add it ourselves… how this works.. with regards to users adding the feeds. or you have premium accounts.. by exchange operators that pay a yearly fee to submit and provide a feed etc I don’t know.. but we need a way to get the feeds we are about on there and faster.
More Traditional Vector Distortion Tools For example, if the ‘bars copy’ pattern has been used… we want to be able to distort the tools vertically not just horizontally… and rotate it.. same for shapes that get drawn as well… want to be able to ‘squish’ the shapes that get drawn.
submitted by BTCVIX to BitcoinMarkets [link] [comments]

Bitcoin at ALL TIME HIGH  Power Ledger Skyrocketing!  IOTA Approaching ATHs Bitcoin Price Technical Analysis - TAKE OFF TIME? (October 20th 2017) Bitcoin Price Technical Analysis - $5000 $7000 $10000! (August 18th 2017) Bitcoin Price Technical Analysis - THE BIG 5000! (August 25th 2017) Bitcoin Price Technical Analysis - TO $10,000 AND BEYOND! (November 17th 2017)

The difference between linear and logarithmic price scales is significant. Below, you’ll see two charts of bitcoin’s all-time price history. The first chart uses a linear price scale, while the second charts uses a logarithmic price scale: The two charts show the exact same thing: bitcoin’s price from 2011 to the present day. Price intervals according to that time frame will appear on the bottom horizontal bar. On the right-hand vertical axis, you will see a number highlighted in red at $3,477. This is the current price of a single Bitcoin in US dollars. The left-hand vertical axis shows the price variation. You will notice that the chart is made up of red and green ... Bitcoincharts is the world's leading provider for financial and technical data related to the Bitcoin network. It provides news, markets, price charts and more. Bitcoin Price and Volatility . In a short period of time, Bitcoin has become a household name. With the added media attention and institutional interest, the Bitcoin price has risen by over 700%. Bitcoin trading never stops, exchanges run 7 days a week, 24 hours a day and it has been doing so continuously for the last 8 years. Bitcoin uses peer-to-peer technology to operate with no central authority or banks; managing transactions and the issuing of bitcoins is carried out collectively by the network. Although other cryptocurrencies have come before, Bitcoin is the first decentralized cryptocurrency - Its reputation has spawned copies and evolution in the space.

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Bitcoin at ALL TIME HIGH Power Ledger Skyrocketing! IOTA Approaching ATHs

The Bitcoin price hit a new all time high of $1760. Is it on to $2300? I do some technical analysis to see what the next bitcoin price targets are. Will Clif High's webbot prediction of $2300 come ... Bitcoin price made a NEW ALL TIME HIGH of $7888! Is it back to $5000 from here? I do some basic technical analysis to see what the next Bitcoin price targets might be. Recorded on November 11th ... The Bitcoin price hit a new all time high of $4480! It is soon onto $5000, $7000 and even $10000? I do some basic technical analysis to see what the next Bitcoin price targets are. Intro 0:00 ... The Bitcoin price dipped BIGLY from its all time high of $4480 down to $3600 and back up again! Will $5000 be a level of resistance? I do some basic technical analysis to see what the next Bitcoin ... Bitcoin price is knocking on the door of its all time high. Is it about to take off? I do some basic technical analysis to see what the next Bitcoin price targets might be.

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