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Eric123

Epic Pennant on BTC Chart

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1 minute ago, baobeiiiii said:

That site won't load for me even with fibre internet... i'm in europe. 

Dang !

TIme for a VPN ?

Julian kindly pasted a screen cap in the other thread:

( At the end, like just a few minutes ago )

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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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25 minutes ago, Eric123 said:

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?

 

Great flippin’ questions! I have no idea. But I’d love to hear your opinion on this and other big thinkers opinions. @lucky @Truckdriver @pucksterpete @Molten @dr_ed @Tinyaccount @BruceWhale @Julian_Williams @Caracappa

Edited by Palerider

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14 hours ago, Eric123 said:

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

Very interesting points! Specially that last question. Makes me really wonder!

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16 hours ago, Palerider said:

Great flippin’ questions! I have no idea. But I’d love to hear your opinion on this and other big thinkers opinions. @lucky @Truckdriver @pucksterpete @Molten @dr_ed @Tinyaccount @BruceWhale @Julian_Williams @Caracappa

Thnx for the compliment, that puts pressure on the shoulders ;)

The first partial explanation I can come up with is that one of the variables is not correct. Did indeed 11,5mln BTC not move? And was 2mln BTC traded the correct figure or a washtraded figure.

The second is that, what's also happening on multiple exchanges is that large accounts (whales) keep on selling and buying BTC to themselves all day long. It helps them getting to certain price points without actually losing a lot of value. So for example it's only 100k BTC thats traded 20x a day to eachother adding to 2mln BTC traded. For bots that is peanuts to do, aside the waste of fees.

Left or right, I don't think it's 2mln unique BTC's traded but the same over and over.

Edited by Caracappa

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