Topic: A break-out? - page 4. (Read 4588 times)

You're right for once: this isn't even up for debate.



The spikes, in chronological order:

14:17 Bitfinex 111 xbt (local spike, but not a huge order exactly. I'd call it "the rally starter, part 1")

14:18 Bitstamp 693 xbt  ("the rally starter, part 2")

14:18 Huobi 42 xbt (how things got started in Matland)


EDIT: and if this is about the first impulse of the breakout, then:

11:30 Huobi 286 xbt
11:31 Huobi 594 xbt
11:32 Bitstamp 943 xbt / Huobi 842 xbt


Summary:

Huobi indeed began the first impulse of this local rally 2 minutes earlier than stamp, but within 2 minutes higher volume order(s) came in on Bitstamp.

That's not what it looks like if "one exchange leads the other". That's "exchanges getting each other in a buying frenzy".

Arb bots are most likely keeping the exchange rates in line.

2000 BTC took Bitfinex up to $599. Just further couple of hundred BTC took it up to $630, and then a few hundred more caused it to correct to $583. All within one minute. Who in their right mind (human mind or bot coding) is going to be so chomping at the bit to get in on Bitcoins that they are happy to pay up $30 above the USD market standard rate (Bitstamp price)?

Why do these things never happen on Bitstamp?

Why is it only ever on shady exchanges like BTC-e and Bitfinex that we get these wild anomalous trading spikes?

Did you know that Bitfinex routes trades through Bitstamp to increase liquidity? Seems to have circumvented Bitstamp on this occasion hasn't it not?

Have you actually traded on Bitfinex? Have you first hand experience of all it's little 'quirks'? Especially with regards to farming Stop Loss orders!

These exchanges will one day prove to be a blight on the Bitcoin market just like Gox did.

Bitfinex shows ~14K BTC volume on this latest move, if the wall were fake why did the move up cause more volume then the order book was showing at the time.

Yeah....that is why I hate Bitfinex.

Fake Walls R Us.

Some poor cunt obviously made a panic 'market order' buy on Bitfines, only to discover that the thousands of BTC making up the Ask wall above him were but a 'mirage'.

I fucking hate Bitfinex. Crooks operating a fractional reserve Bitcoin exchange, with fake volume and insider trading for sure!

And still, Bitfinex was also 2 minutes behind Huobi.

Sometimes a bull breakout does not end nicely 

Have a look at finex charts.

Doppelpost

I bought in at $460, and out very prematurely at $520. I was asleep when Bitcoin broke through $540 which would have been my buy-in confirmation target had it not been 4am where I am, when the break out happened. I was in and out near top (at small profit) just before the correction to $550. I never held my $571 position because I had a dream of Bitcoin correcting to $500. A couple of days later we got to $550, which seems to be as low as it goes, for now.....I hope. But looking at the charts and the all the indicators I like/use, suggested to me that there was likely a bit more correcting to come. But when a 2K worth of orders hit Stamp out of knowhere, it kind of turns all those indicators on their heads.



This is what I am/was betting on. If we are in a wave B, then it would be a Wave B correction from the $1160 - $340 crash. That would imply a typical $750 price target being met as a 50% Fib retracement.

However, for that to be the case, then the huge descending triangle from $1160 down to roughly $380-$400, would have to constitute a Wave A contrary to my previous EW attempt posted in oda.krell's thread, where my wave count breaches an EW rule. Are there many examples of a corrective Wave A, playing out as a triangle formation? If the triangle formation theory were to be dismissed, then Wave A would have to constitute a 3-3-3 zig-zag combination?

If this is in fact a rising wedge and breaks down, it would set the stage for this being a B wave of an ABC.   (I am not betting on this though)

well,that`s not the way MatTheCat is going to do.
Gambler

Yep, already missed the 520->570 gap + exchange fees + nerves and time = not worth it.

 

Why are you even attempting to trade during a bull market? This is your opportunity to just move your coins into cold storage and avoid mistakes and exchange risk alltogether.

why the fuck did you wait for it to hit $600 before buying, while it was sitting on $420~$570 for weeks.

So too was I. But the whales seem determined that Bitcoin will be pumped and who is to argue with them?

Could be we top out at $650 for this leg up before 'the correction' hits, could be $617 was the top. But 4 Hour MACD looking good, as is 4hr stochastic, KDJ, OBV. The one too watch is the RSI....showing positive divergence up 1hr period, still looking to prove itself on 2hr and 4hr charts.

I'm not sure that buying at 600$ is the best move, after 30+% in few days I'm expecting a correction in these days,
but who knows, with bitcoins all can happen...

The volume surge on Huobi was 2 minutes ahead of Stamp. This isn't up for debate, it is there in black and white (or red and green).

Sorry, but this happens almost 9 times out of 10 and it cannot be ignored.

That was one breakout. Thee major breakout.

I caught that one and jumped off at $520. I rebought in at $571, but got cold feet at $585. That was before the rise to $595 and the subsequent drop to $550. Since then we have had a triangle/flag formation, from which we have broken out, and now have also broken out from the trendline connecting the previous two significant highs ($547, $595).

 I am now in again since $601.

Glad you bought back in time.

Disagreed on the "led by China" statement. I made my case against that often enough now, so I'm not repeating it here. China is a large factor still though, so if it's just hyperbolic phrasing to say that, I'm okay with it.