masterluc (OP)
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October 31, 2015, 03:16:51 PM |
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I was  crazy stuff. |
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rebuilder
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October 31, 2015, 05:09:45 PM |
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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?
Given no fees, the only limits to trade volume are set by the rate an exchange can process orders at. How much volume do you think could be generated with just one BTC deposited at such an exchange? I'm guessing quite a lot. |
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wpalczynski
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October 31, 2015, 05:12:27 PM
Last edit: October 31, 2015, 05:23:28 PM by wpalczynski |
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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?
Given no fees, the only limits to trade volume are set by the rate an exchange can process orders at. How much volume do you think could be generated with just one BTC deposited at such an exchange? I'm guessing quite a lot. Isn't it more likely that people are trading for minuscule amounts of profit each trade due to no fees on Chinese exchanges as opposed to "fake" trading between themselves to generate volume as is often speculated? |
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ssmc2
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October 31, 2015, 06:16:52 PM |
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The Master calls it, yet again.  |
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masterluc (OP)
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October 31, 2015, 06:35:27 PM |
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Forgot to say, closed another 30% longs @331. Summary close at 321. Was Opened @240.
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pontikis13
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October 31, 2015, 06:51:08 PM |
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so what do you think comes next masterluc? How far down?
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klee
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October 31, 2015, 06:57:24 PM |
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Very cool stuff as always!
I agree with 270s and I also see a top (if really bullish) around 330 as you depict in the main near-horizontal trend line.
After that, no clue from me...
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masterluc (OP)
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October 31, 2015, 08:27:47 PM |
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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.
Found answer. Volume obviously includes "bitcoin futures". |
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masterluc (OP)
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October 31, 2015, 08:28:57 PM |
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so what do you think comes next masterluc? How far down?
Following this trend imho. However I need to see next couple of days for reaction for last rally. 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.  |
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masterluc (OP)
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October 31, 2015, 08:53:01 PM |
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Gold on daily draws same shit, but with outrunning 1-2 weeks. Same near horizontal escape trend. Bitcoin just reached top trend line, but gold already collapsed to bottom one.
Who is expirenced may provide pics? I'm tired and went sleep.
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zby
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November 01, 2015, 08:34:31 AM |
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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. What would break this channel for you? 350? I have the feeling that this is again China that is leading. There with that crazy wick of previous rally we have not yet reached the trend channel and China can continue with these slow price pushing after corrections. In fact look at the correction right now - China did not go as deep as Bitfinex or Bitstamp and the price premium there only increased. |
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masterluc (OP)
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November 01, 2015, 01:31:55 PM |
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China seems doesn't give a fuck and has a triangle on hourly so far  |
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masterluc (OP)
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November 01, 2015, 01:39:50 PM |
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Need to say that china didn't outperformed previous higher high while others did  |
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Dilla
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November 01, 2015, 04:13:12 PM |
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Yea but can you really count that flash peak? China's been higher than the rest of the other currency exchanges this go around by $30
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Kramerc
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November 01, 2015, 07:52:37 PM |
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Forgot to say, closed another 30% longs @331. Summary close at 321. Was Opened @240.
Master, I have two questions, out of pure curiosity. As far as I remember, you don't use margin. Closing then means that you sold your coins, right? Also, did you sell all, or around 80% of the total? Thank you for your analysis and answers. |
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masterluc (OP)
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November 02, 2015, 03:45:26 PM |
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oda.krell
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November 02, 2015, 03:58:14 PM |
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If I'm allowed to add my 2 cents:
There are now wide divergences on daily and below on the (MACD derived) indicators I use, plus on most scales it's overbought. I'd normally say that's the end of the run.
Problem is, I haven't found any 'hard' line of resistance yet, and most importantly: the (averaged) bid/ask totals on stamp+finex+btc-e are still looking very impressive, quite different than in July '15. In that sense, I suspect there's some fuel left.
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8up
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November 02, 2015, 04:06:57 PM |
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Great to see you openly talking about your confusion. It took me quite a while, to refresh my picture, too. I came to the conclusion, that we see gravity at work. (If not, it's orchestrated as such very well) @gold - I remember some talks about the (anti-)correlating behaviour of BTC and gold. It stated there was either good correlation or anti-correlation - but nothing in between.  |
Always wrong until not.
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