Topic: Analysis - page 137. (Read 941582 times)
Price currently piercing upper end of the channel... and its being lead by the west this time.
Very nice graphic thanks. I wonder however what effect the latest "loosening" of capital controls will have
Luc, what do think the chances are of continuing divergence with gold, where BTC- on it's way up- passes gold on it's way down?
Will be surprised much.
Picture is "dangerously bullish".
Dangerously as dump threat and dangerously as rocket moon threat at same time.
Weekly is bullish, very bullish.
But divergence with gold and eur and convergence with LTCUSD makes me skeptic. Litecoin rises before big dump. Add new divergence with china here and I'd say "fuck it".
Hourly noticable divergence with china
Correlation is obvious, but underruns 1-2 weeks as I noticed. I.e. gold starts to drop/rise and bitcoin does the same after 1-2 weeks.
The correlation is stronger if there is eurusd does the same. It means dollar value rises (bitcoin's falling correspondendtly).
The correlation is stronger if there is eurusd does the same. It means dollar value rises (bitcoin's falling correspondendtly).
Luc, what do think the chances are of continuing divergence with gold, where BTC- on it's way up- passes gold on it's way down?
Correlation is obvious, but underruns 1-2 weeks as I noticed. I.e. gold starts a noticeable drop/rise and bitcoin does the same after 1-2 weeks.
The correlation is stronger if there is eurusd does the same. It means dollar value rises (bitcoin's falling correspondendtly).
The correlation is stronger if there is eurusd does the same. It means dollar value rises (bitcoin's falling correspondendtly).
Great to see you openly talking about your confusion. It took me quite a while, to refresh my picture, too. I came to the conclusion, that we see gravity at work. (If not, it's orchestrated as such very well)
@gold - I remember some talks about the (anti-)correlating behaviour of BTC and gold. It stated there was either good correlation or anti-correlation - but nothing in between.
@gold - I remember some talks about the (anti-)correlating behaviour of BTC and gold. It stated there was either good correlation or anti-correlation - but nothing in between.
If I'm allowed to add my 2 cents:
There are now wide divergences on daily and below on the (MACD derived) indicators I use, plus on most scales it's overbought. I'd normally say that's the end of the run.
Problem is, I haven't found any 'hard' line of resistance yet, and most importantly: the (averaged) bid/ask totals on stamp+finex+btc-e are still looking very impressive, quite different than in July '15. In that sense, I suspect there's some fuel left.
There are now wide divergences on daily and below on the (MACD derived) indicators I use, plus on most scales it's overbought. I'd normally say that's the end of the run.
Problem is, I haven't found any 'hard' line of resistance yet, and most importantly: the (averaged) bid/ask totals on stamp+finex+btc-e are still looking very impressive, quite different than in July '15. In that sense, I suspect there's some fuel left.
I am confused. From one side this weekly pic is obviously bullish.
From other side horror divergence with gold and eur
From other side horror divergence with gold and eur
Forgot to say, closed another 30% longs @331. Summary close at 321. Was Opened @240.
Master, I have two questions, out of pure curiosity. As far as I remember, you don't use margin. Closing then means that you sold your coins, right?
Also, did you sell all, or around 80% of the total?
Thank you for your analysis and answers.
Yea but can you really count that flash peak? China's been higher than the rest of the other currency exchanges this go around by $30
China seems doesn't give a fuck and has a triangle on hourly so far
I don't see fuel except volume to escape from this trend now with current daily overbought conditions. Even weekly are close to overbought.
If price will escape I'll be much surprised.
If price will escape I'll be much surprised.
What would break this channel for you? 350?
I have the feeling that this is again China that is leading. There with that crazy wick of previous rally we have not yet reached the trend channel and China can continue with these slow price pushing after corrections. In fact look at the correction right now - China did not go as deep as Bitfinex or Bitstamp and the price premium there only increased.
Does someone know what means that volume on huobi on bitcoinwisdom? It shows unreal data like trade 1000s btc per minute and millions per week.
Found answer. Volume obviously includes "bitcoin futures".
nope, that are only washtrades.
futures have other charts see it there
https://cryptowat.ch/okcoin/btcusd-quarterly-futures
https://cryptowat.ch/okcoin/btcusd-weekly-futures
Gold on daily draws same shit, but with outrunning 1-2 weeks. Same near horizontal escape trend. Bitcoin just reached top trend line, but gold already collapsed to bottom one.
Who is expirenced may provide pics? I'm tired and went sleep.
Who is expirenced may provide pics? I'm tired and went sleep.
so what do you think comes next masterluc? How far down?
Following this trend imho. However I need to see next couple of days for reaction for last rally.
I don't see fuel except volume to escape from this trend now with current daily overbought conditions. Even weekly are close to overbought.
If price will escape I'll be much surprised.
If price will escape I'll be much surprised.
Does someone know what means that volume on huobi on bitcoinwisdom? It shows unreal data like trade 1000s btc per minute and millions per week.
Found answer. Volume obviously includes "bitcoin futures".
Very cool stuff as always!
I agree with 270s and I also see a top (if really bullish) around 330 as you depict in the main near-horizontal trend line.
After that, no clue from me...
I agree with 270s and I also see a top (if really bullish) around 330 as you depict in the main near-horizontal trend line.
After that, no clue from me...
Jump to: