Analysis - page 139. | Bitcointalksearch.org

bri912678

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Quote from: sinner on October 31, 2015, 09:24:19 AM

Quote from: masterluc on October 31, 2015, 08:47:59 AM

Huobi and okcoin summary traded 6kk coins this week. This is almost half of all issued bitcoins. Can that be true?

its been posted on here or reddit that those are fake numbers cuz no commission trading so people buy/sell to themselves to create fake volume/pump

There were reddit threads about fake Huobi and okcoin trades since 2014. I quoted one comment that compares them to mtgox. There was a reddit thread by an ex-okcoin employee who said they run their own bots to manipulate both volume and price. Those exchanges deny it but I don't believe them, they fake their volume.

https://www.reddit.com/r/BitcoinMarkets/comments/1ub0f0/convince_me_why_huobicom_stats_are_not_fake

https://www.reddit.com/r/BitcoinMarkets/comments/2alcze/imo_okcoin_and_huobi_are_not_100_legit/

Quote

For me it is pretty obvious and easy to spot that at least in OKcoin and btc-e there are malicious bots doing tiny trades to manipulate the price, it either creates a fake pump or a fake dump, exactly like mtgox used to do.

Pierre 2

legendary

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So you think this will end as small bubble to return around $270s in mid-week?
I actually think same (if you think like that) there is still no big reason for huge trend.

sinner

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Quote from: masterluc on October 31, 2015, 08:47:59 AM

Huobi and okcoin summary traded 6kk coins this week. This is almost half of all issued bitcoins. Can that be true?

its been posted on here or reddit that those are fake numbers cuz no commission trading so people buy/sell to themselves to create fake volume/pump

nioc

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Quote from: sinner on October 31, 2015, 09:17:55 AM

master, do you trade things other than bitcoin? does your system of analysis (primarily elliott wave?) work for other assets? how did you educate yourself on trading?

Quote from: masterluc on October 28, 2015, 10:04:47 AM

I am dedicated to bitcoin. Bitcoin changed my life. No other assets.

wpalczynski

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Quote from: masterluc on October 31, 2015, 08:47:59 AM

Huobi and okcoin summary traded 6kk coins this week. This is almost half of all issued bitcoins. Can that be true?

Seems to be true. The question is what does that mean? MOON?

sinner

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master, do you trade things other than bitcoin? does your system of analysis (primarily elliott wave?) work for other assets? how did you educate yourself on trading?

brg444

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Bitcoin replaces central, not commercial, banks

Quote from: hdbuck on October 31, 2015, 08:42:40 AM

Quote from: masterluc on October 31, 2015, 08:37:15 AM

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.

fake '0-fees' volume?

gee, it completely outperform the volume from the 2013 bubble, i got 3,7+ million spike on the weekly chart

or do they have some sorta HFT going on there maybe?

To be fair I don't believe they were much of a thing back then.

Volume over there certainly rises an eyebrow. We're used to say the volume on Chinese exchanges is fake but what could generate so much "fake" volume is a good question...

masterluc

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Huobi and okcoin summary traded 6kk coins this week. This is almost half of all issued bitcoins. Can that be true?

hdbuck

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Quote from: masterluc on October 31, 2015, 08:37:15 AM

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.

fake '0-fees' volume?

gee, it completely outperform the volume from the 2013 bubble, i got 3,7+ million spike on the weekly chart Shocked

or do they have some sorta HFT going on there maybe?

masterluc

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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.

hdbuck

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Quote from: zimmah on October 31, 2015, 08:08:30 AM

Quote from: Dilla on October 30, 2015, 09:47:21 PM

Can you explain the whole overbought calculations? I'm still new to trading, so I'm learning.
Does the overbought situation account for the downwards selling pressure for over a year?

in my opinion bitcoin shits on overbought signals, there's not such thing as overbuying bitcoin.

ahahah true story Grin

zimmah

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Quote from: masterluc on October 30, 2015, 10:10:47 PM

Quote from: Dilla on October 30, 2015, 09:47:21 PM

Can you explain the whole overbought calculations? I'm still new to trading, so I'm learning.
Does the overbought situation account for the downwards selling pressure for over a year?

Overbought conditions usually detected using oscillators. The most known oscillator is Relative Strength Index (RSI). It is overbought >70 and oversold <30.

Daily RSI is at 2 years high, almost at 2013 bubble value.

Next one is Slow Stohastic (SS). Same as RSI (70/30).

Next ADX. Overbought or oversold >40 depending on what greater +Dl or -Dl.

All of those are close to 2013 top values.

how can all of them be so high after all this sideways trading? That doesnt make any sense at all.

If those signals are reliable we will never break out of $350, which is obviously going to happen pretty soon anyway (before next year at least).

zimmah

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Quote from: Dilla on October 30, 2015, 09:47:21 PM

Can you explain the whole overbought calculations? I'm still new to trading, so I'm learning.
Does the overbought situation account for the downwards selling pressure for over a year?

in my opinion bitcoin shits on overbought signals, there's not such thing as overbuying bitcoin.

Livermore

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Quote from: masterluc on October 30, 2015, 10:10:47 PM

Quote from: Dilla on October 30, 2015, 09:47:21 PM

Can you explain the whole overbought calculations? I'm still new to trading, so I'm learning.
Does the overbought situation account for the downwards selling pressure for over a year?

Overbought conditions usually detected using oscillators. The most known oscillator is Relative Strength Index (RSI). It is overbought >70 and oversold <30.

Daily RSI is at 2 years high, almost at 2013 bubble value.

Next one is Slow Stohastic (SS). Same as RSI (70/30).

Next ADX. Overbought or oversold >40 depending on what greater +Dl or -Dl.

All of those are close to 2013 top values.

The question now is if BTC is going to continue to range at a price 70% below the all time high 2 years ago, or if the bear market is finally over, 2 years of coiled spring price compression is going to explode, and we are entering a new trend.

If new trend, need to switch to trend/momentum indicators. Because Oscillators, as we saw in 2011 and 2013, can stay MaxOverbought for months and are not useful in that case.

"Wyckoff discovered during this observation period was that when the market began to flatten out after a long decline this would usually lead to an
upward trend for the market." - How Legendary Traders Made Millions

Wekkel

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yes

Overbought means nothing when bubble. That is the trouble with oscillators when trending. The question is whether Bitcoin is still oscillating or starting a new trend. When in doubt, wait and see.

Dilla

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Thanks

masterluc

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Quote from: Dilla on October 30, 2015, 09:47:21 PM

Can you explain the whole overbought calculations? I'm still new to trading, so I'm learning.
Does the overbought situation account for the downwards selling pressure for over a year?

Overbought conditions usually detected using oscillators. The most known oscillator is Relative Strength Index (RSI). It is overbought >70 and oversold <30.

Daily RSI is at 2 years high, almost at 2013 bubble value.

Next one is Slow Stohastic (SS). Same as RSI (70/30).

Next ADX. Overbought or oversold >40 depending on what greater +Dl or -Dl.

All of those are close to 2013 top values.

jehst

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21 million. I want them all.

Nov 1 is decision day for me.

If we're going sideways or stalling on November 1, I will take profits and watch closely.

If we're still going up strongly on November 1, blasting through 350 on Bitstamp, then I'm staying in to see what happens.

Dilla

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Can you explain the whole overbought calculations? I'm still new to trading, so I'm learning.
Does the overbought situation account for the downwards selling pressure for over a year?

masterluc

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Merit: 1013

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.

Topic: Analysis - page 139. (Read 941567 times)