@k00b: I'm not too sure if this topic is 'off topic' or not, but if so, just say, and I'll not post such a topic again :)
I'd like to connect with other traders on here and maybe share some ideas or insight.
So, for the coming week: if the $ price fails to hold the $45,000 to $46,000 I can see very little support above $42,000
Where do we need to hit to restart the rally? Is it anything below 52k, we've printed another lower high and bear time?
We've had quite a good rally today (Sep 14th), pushing a 5 day high @ 47K
The 182 day SMA could be a show stopper: while we've jumped SMA line @ 46K, we've still to have an OCC (open close cross) on that SMA
53K would be the Sep ATH, with 43K the ATL (so far), so that seems to me to be a viable trading range.
There's the 28 day SMA sitting @ 48K which has seen a OCC to the upside, so all in all, things don't look too gloomy. I'll like to see the $ price stay above 46K to be sure of any continuation of NGU, and the next day or two will be key for that.
... to add
Right now we're fighting the 39 day SMA. It's OCC has not crossed to the downside in the recent past, so that's another positive, but it could yet be a resistance line, albeit a rising resistance.
Price predictions based on pattern recognition assume that there is no new discovery or information through creative means. If you could predict the price, you would discover the price (eg. if you discovered how to break SHA256, then you have discovered a price). You can't predict when a new discovery will be made or exactly how it will impact the price. This is why, especially leveraged, trading is dangerous. That said, it's also fun, so I do it a little bit.
RE: your chart, I have a feeling new energy FOMO (not FUD that we are currently getting) is going to drop in October. Like the Cambridge number change, the narrative changes, the "mining council" or whatever drops some info, Elon tweets something positive, and bam, the whole thing changes. Something along those lines: control the memes control the world. I bet, anything around the current price can be doubled by December after the FOMO starts in October/November. But, I only buy (and very very occasionally sell) spot, I don't leverage trade. So I'm ready for a bear market if I'm wrong, but we shall see.
I'm also in uranium right now for macro reasons (see also: #2083 and https://www.youtube.com/watch?v=qp80SfObROE )
Yes; although the 'green energy' debate is somewhat of a moot point with those in the know, as it's already been established that Bitcoin is one of the greenest technologies on the planet, the MSN will (as is its modus operandi) continue to ignore the data and spread the FUD. Any kind of a $ price hike for BTC always induces FOMO, but at the same time, will also over inflate the $ price far too quickly, thus creating a local bubble, which will pop.
As a trader, it's never easy to judge where the tops (or the bottoms) will be, but applying some mathematics (I find that the normal distribution function helps with this) can give one a 'head-up' with such things.
it's looking pretty hairy! 👀
Not really :)
As one of my charts shows...
https://i.postimg.cc/CKSGSFyN/CPS.jpg
... that 'blip' has done little to the underlying trend.
Not a trader but love following this stuff... Would love to see more TA threads on here personally. Maybe if not a seperate forum but maybe we can get a weekly TA thread going?
Yeah, I'm happy enough to share my analytics.
Right now (as my chart shows) not much has changed since the 'flash crash' of Sep 6th.
My main concern is the lack of positive volume: in fact there's comparatively little volume of any kind, which is why a relatively small volume trade can move to $ price, so it'll only take a few weak hands to bail, and we'll see quite a dip, but as always, that'll simply create a buying opportunity for those with strong hands.
ughh trading view UI is so difficult to figure out how to follow people.. do you have a twitter handle I can follow? Always good to know the real traders on twitter from the click-baiters.
I know some users are interested in trading analysis like @gmd
I don't mind any Bitcoin-ish related topics (e.g. privacy, security, applied crypto, monetary policy) being posted personally.
Hopefully, we'll get substackers (ie subreddits) before too long and we can have an /s/trading or something.
Cool man.
Yeah, I like the subs' idea; I used to use a .onion site that was based a that - nice.