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Epic Pennant on BTC Chart


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39 minutes ago, JASCoder said:

If you factor in the US holiday abatement of the usual ODL activity, it would make sense that the MM's would throttle back their loading of the Bitso ASK bookings.  

BTW - today's (02DEC) volume was 15.2m - another new record - but the previous two days were both under 4m.

Here's what the opposing DoM looked like yesterday:

 

Screen Shot 2019-12-02 at 4.13.11 PM.png

am I right in thinking that is very good narrow spread for odl trading?

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Well guys for those of you that got in late 2017, this is what the beginning of a Bull Market feels like.  There will be ups and downs of course, but it will get much crazier with much higher valuatio

Just taking the time to say a huge thank you to you @Eric123. I have been reading this thread daily for a long time now. I don't often sign in to post something so this thank you and acknowledgment of

I was a bit bored, so I decided to analyse the reactions in the first 404(!) pages of this thread. In those 404 pages, 3938 comments received a reaction, and in total there were 11515 reactions g

30 minutes ago, Julian_Williams said:

am I right in thinking that is very good narrow spread for odl trading?

This is an important question you pose - what is the threshold at which the spread is too high for ODL to opt for making the transfer ? For the snapshot of the two order books at that time, was 1.8% slippage for "high volume" 500k XRP events. And how quickly does the pair re-balance ?

I am suspecting that it's fairly quick - but I will try to figure this out. I'm working on a new script to capture and chart out this dynamics. (RL keeps interrupting my hobby coding fun, heh).

Edited by JASCoder
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Just now, JASCoder said:

This is an important question you pose - what is the threshold at which the spread is too high for ODL to opt out of making the transfer ? For the snapshot of the two order books at that time, was 1.8% slippage for "high volume" 500k XRP events. And how quickly does the pair re-balance ?

I am suspecting that it's fairly quick - but I will try to figure this out. I'm working on a new script to capture and chart out this dynamics. (RL keeps interrupting my hobby coding fun, heh).

Appreciate your work.  I am so non tech I need explanations from people like you.

A five hundred K transaction is pretty big.  What is the usual commission on a cross border transaction - a lot more than 1.8% I think, and this is safer, faster and requires no nostro funds tied up.

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10 minutes ago, Julian_Williams said:

Appreciate your work.  I am so non tech I need explanations from people like you.

A five hundred K transaction is pretty big.  What is the usual commission on a cross border transaction - a lot more than 1.8% I think, and this is safer, faster and requires no nostro funds tied up.

Well thank ya kindly Julian :)

Oddly enuf, I know zero people out of our bubble of the xrp community which find this interesting - although I keep trying hahaha

I will re-post this below in the Bitso thread we have.
But check this out...

https://remittanceprices.worldbank.org/en/corridor/United-States/Mexico

I have some comments on this, I'll meet you over there :)

 

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I for one, enjoy the info within the graphics. The links at the bottom of the page show similar info for multiple other corridors as well,  and it's an interesting thing to look at. A lot is currently going on and I expect that the momentum is going to continue increasing at even a faster pace. 

11 minutes ago, JASCoder said:

Well thank ya kindly Julian :)

Oddly enuf, I know zero people out of our bubble of the xrp community which find this interesting - although I keep trying hahaha

I will re-post this below in the Bitso thread we have.
But check this out...

https://remittanceprices.worldbank.org/en/corridor/United-States/Mexico

I have some comments on this, I'll meet you over there :)

 

 

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7 minutes ago, WuWei said:

I for one, enjoy the info within the graphics. The links at the bottom of the page show similar info for multiple other corridors as well,  and it's an interesting thing to look at. A lot is currently going on and I expect that the momentum is going to continue increasing at even a faster pace. 

 

I totally agree !

I think we can see it being prepped for ramping up (the other corridors).

What I've been noticing since watching this, is the deepening of the order books. There also must be on-going efforts to provision the arbitrage capacity - that we can only guess at based on how fast things get rebalanced after ODL events occur (something I'm working on capturing and charting).

Unfortunately not all the exchanges offer any exposed APIs for us rabble to query :-/ 

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At the moment we are getting a pause in the bleed on low volume.  A lot of people were making a big deal of the Monthly MACD bearish cross which just happened, weekly MACD has been bearish since Aug 19, 19 and daily MACD as can be seen below just turned bullish.  We've been bumping up on the underside of the trend line since November 4. Looks like tomorrow or next day could be interesting.

12 3 19.png

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21 minutes ago, Eric123 said:

At the moment we are getting a pause in the bleed on low volume.  A lot of people were making a big deal of the Monthly MACD bearish cross which just happened, weekly MACD has been bearish since Aug 19, 19 and daily MACD as can be seen below just turned bullish.  We've been bumping up on the underside of the trend line since November 4. Looks like tomorrow or next day could be interesting.

12 3 19.png

That is a triangle much like the one I posted for XRP on the other thread.  Looks like we are in for a big move one way or another in the next day or two.  Bring it on!

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1 hour ago, Molten said:

That is a triangle much like the one I posted for XRP on the other thread.  Looks like we are in for a big move one way or another in the next day or two.  Bring it on!

My only concern with this triangle, same with XRPs, is the bottom line having only two touches.  I would prefer 3 or more to feel really confidant in the bullish trend line but we shall see.  The pattern makes sense otherwise, including the falling volume as we near the apex.  Exciting stuff in an otherwise boring market. 

Will update the XRP triangle tonight.

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On 12/2/2019 at 10:15 AM, Eric123 said:

Well the MACD looks good but the price keeps going down.  Some people are calling for $6k BTC one that I follow on youtube ChicoCrypto (his video helped with my nano set up) who does have interesting content thinks it is going to fall to $6k this week, but bouncing hard.  Chico seems to be following Bravenewcoin's chart but not following the updated chart.  Now I'm not sure why he picked this chart or if any of Bravenewcoin's thoughts will turn out to be valid, as he writes there will be growth in bitcoin's price  but it has to be "realistic".  Now  is "realistic" to brave new coin too bullish? bearish?  who knows.  

Chico's video

https://www.youtube.com/watch?v=Tk4LbUL3QwA

Anyway it's always good to look at a wide array of opinions.  Chico does do his homework on different coins although as one of the comments on a video noted, he does blame all pumps on Tether and all dumps on futures contracts - though he may be right.

I have stopped shaving my beard for about 6 weeks now based on the fact that the last time I grew my beard was November 2017 and kept it going into December.  I have become superstitious and hope my hairy face will help the price, but so far no dice.  Also Chico has stopped cutting his hair and shaving and won't cut/shave until bitcoin retakes it's ATH, (he started this before me though I did not get the idea from him).  

As for me I don't think  Bravenewcoin's charts are gospel (links below)

 

https://www.tradingview.com/chart/BLX/uYKn9Nrx-Bitcoin-longterm-chart/

https://www.tradingview.com/chart/BLX/NSwKGFGh-Updated-longterm-BTC-chart-The-road-to-1-million/

 

and as those of you that read my posts know I thought we would have already retaken the ATH and think it will at least happen before the halving in May.  But I am going to hold off making any purchases till Thursday/Friday in case Chico is right.  

If the bears are right about this drop XRP will certainly drop into the teens in sympathy to this move.

Guys might want to ready some dry powder to take advantage of the sale.

 

 

12 2 19.png

Amigo, you should buy a winter grade tent next (for Central Park 5-star hotel experience) - that will change the market sentiment ,iight,  // for sure!!! :clapping:

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Well this move was right on time. Hopefully we can make some progress here and at least turn this trend line into support. 

@baobeiiiii I'm not sure that miner profitability is the bottom of the market.  Since derivatives are now so prevalent - and you no longer need to own bitcoin to sell bitcoin there really is no price floor. Besides when mining becomes unprofitable and miners shut down, difficulty is adjusted and the remaining miners become profitable again.   

The futures market has overcome the scarcity of bitcoin by essentially creating an infinite supply of bitcoin.  Eventually if bitcoin does become the new system I expect that a lot of this fake (fraudulent) trading - ie CME - Bakkt - will become less popular as institutions and individuals will want to hold their own coins and the inflation and hypothecation and re-hypothication of the same coins will not happen as frequently.

 

18 million bitcoin have been mined.

4-6 million have been lost

11.5 million bitcoin haven't moved in over a year.  https://www.ibtimes.com/bitcoin-holders-havent-moved-over-11-million-btc-2018-2877915 (this would include the lost ones)

1,800 are mined a day

Yesterday - Over 2 million bitcoin traded!!!!!

How does mining even fit into the trading if 1,000X the daily amount mined is traded???

where are 2 million bitcoin a day coming from when there are only 6.5 million tradeable bitcoin in existence?? Is the entire supply turning over every 3 days?

  

12 4 19.png

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