Bitcoin....who's gotten into it?

[Bromontana]

13 support then lower. Btc hasn't spent much time above 4k. Maybe it needs to consolidate above there. /end wistful tinking

[Bunion 2020]

The move by S. Korea worry you?

[ICantLogIn]

The move by S. Korea worry you?

Nope nor does N. Korea.

[Kinnikinnick]

Id say we are in the phase of "media attention".

Yeah, Comparing your graph it looks like we are SOMEWHERE in there. Notice any similarities?




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[4matic]

Fib numbers have provided some guidance off the top. I’m clueless with regard to shorter term Wave measurements. Although, the previous support levels are weak.

[ICantLogIn]

What is everyone using for indicators? I use dmac, rsi, vpci-lb, BB and MFI. Do you use Tradingview?

[ICantLogIn]

Tradingview is strong to quite strong as far as basic analysis goes.

Do you use the paid version of Tradingview?

[4matic]

Active trade going into GMT and futures close. Another long weekend without derivative coming up.

[whitekingsalmon]

Wow what a day.... day trade paradise and still goin

[4matic]

A close near $15k today is short term bullish. A run to $17.5 is still bearish long term.

[whitekingsalmon]

Must be falling this evening from people transferring their shares n trading them for xrp.... woweww... I got in xrp last week for just over a buck wowew

[4matic]

Must be falling this evening from people transferring their shares n trading them for xrp.... woweww... I got in xrp last week for just over a buck wowew

Have you ever lost money trading?

[4matic]

Exchange prices starting to diverge again. Same as last weekend.

[whitekingsalmon]

I have lost....but most kicking my as about trades years ago like where I bought siri for 50cents.. sold at 1.50 and what it at now like 4 something... ya I lose...just lost 300 on ltc trying to play this fkn drop trying to play a dip.

[4matic]

Losses are good. They build character and discipline. I've had plenty and plenty of very bad ones. I always ask people to tell me about their losses when they talk about trading. Good luck.

[Lindahl]

Gambling. Gee... shucks. Good entertainment, but play the long game if you’re using real money. Gambling is a waste of energy and lifespan. Poker is cheaper and more funnerer.

[swissiphic]

Exchange prices starting to diverge again. Same as last weekend.

Sooo, for someone with more technical knowledge than me... at what price spread does it become profitable to cycle BTC between accounts on exchanges with different prices (after fees)? ...buying low selling high, rinse and repeat?

I'm guessing that's a 'whale's' game, if such a strategy is employed?

[4matic]

Sooo, for someone with more technical knowledge than me... at what price spread does it become profitable to cycle BTC between accounts on exchanges with different prices (after fees)? ...buying low selling high, rinse and repeat?

I'm guessing that's a 'whale's' game, if such a strategy is employed?

Here's a small article I read on the practice earlier this year. It's not easy technically.

https://www.bloomberg.com/news/artic...-money-beckons

I suspect the next disconnected market will be intercrypto swaps.

[Bobby Stainless]

My attention span for this is waning.

[splat]

Around 2010 I was having a good year, all bulled up on a BAC call position, when they sent out a release acknowledging $3bln in goodwill impairments on their retail credit business due to legislative changes. That took precisely everything I had gained over the prior 6 months trading small caps. So I stopped trading for a few years.

Another time I had a good sized account, trading crude, gas & bond futures with a small hf manager in Canada. Waking up to a few thousand in overnight gains is intoxicating. He encouraged me to load the boat on risk given his fund's rigorous backtesting. But I didn't have my own risk controls & got hammered for about 60% losses as natgas gyrated & crude cycled into its major cycle low in early 2016. I bought a few front crude contracts within a dollar of the $26 WTI low, but recent losses had stripped me of conviction, and I sold two days later. Listless & deeply discouraged, I quit futures & stopped trading altogether for 6 months. Even waited 18 months to claim the losses with the IRS.

Family confirmed what I had already ruled out: I had a gambling addiction, without question. A genuine aversion to negative EV casino games, alonside 15 years of consistently profitable poker play in underground games, Atlantic City and online rooms were ignored at the feet of the emotion associated with such a big loss in financial markets. Thousands of hours of disciplined risk/reward play was being erased in favor of the unwarranted certitude that goes along with bringing a son down to size. The well-intentioned but platitudinous advice didn't take.

Nowadays when I hear about brutal losses, my eyelids sink. I know the feeling too well. Disgust with blind ambition, inability to see future opportunity past the inherent risk (no matter the proportion to potential reward), indecision about what to do next. The other day a coworker told me that my repeated warnings about a gold-bug 'analyst' whose views he was promoting just betrayed the fact that I had been burned in the markets. My first thought was to smile & realize he was a risk virgin, just deceiving himself, or a moron altogether. Ignorant to the challenges that invariably target the most talented among us. Content to dismiss the well-intentioned warnings of a colleage. Certain about future market changes. I'd say 'must be nice' but I know where that road leads.

So I toil and scratch & claw each week to capture what's likely a pittance for many on this board, much less among professional 'peers'. Why? Because I love the process. And besides, what else in this world offers a more skewed upside than learning how to run money? Nearly all that begrudge the profession do so out of an intense frustration with their own inability to partake.

A damn insightful look into your own inclinations.

[Kinnikinnick]

Here we go?
Below $13k


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[mecc69]

The underlying blockchain tech here makes sense to validate transactions, but as a currency Bitcoin doesn't make sense to me. Used it to buy some pharmaceuticals from overseas once via Coinbase, but the process was a pain in the ass. Also, who wants to wait hours to make a transaction with a currency that appears to be cornered by Chinese miners? What is stopping everyone from just moving to the next cryptocurrency that processes faster?

Ripple (XRP) makes more sense to me as a tool to move state backed currency around in place of SWIFT. They already have banks on board.

All that said, I'm absolutely kicking myself for not mining this shit when it first came out. I even went so far as to have a wallet set up and some mining software in 2009 but never actually ran it. Doh.

[Bobby Stainless]

[Skidog]

My attention span for this is waning.

That's cause you think it's a card game. Short money. The real players know this is a long. Very long.

My close friend big players (could probably cash in now and retire at 30yrs old even with cap gains taxes) are thinking 10+ years minimum.

Big money is in the tech. Supply chain, real estate transactions, etc. Think bigger than it simply being a new form of currency. I don't know that currency part will ever really come to fruition .

Good luck gamblers.

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[splat]

I don't understand the conviction moves as charted above, drobro. They look arbitrarily designated.
But I am ignorant in your level of insightful expertise.