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    Tuesday, October 2, 2018

    [Daily Discussion] Tuesday, October 02, 2018 Bitcoin Markets

    [Daily Discussion] Tuesday, October 02, 2018 Bitcoin Markets


    [Daily Discussion] Tuesday, October 02, 2018

    Posted: 01 Oct 2018 09:06 PM PDT

    Thread topics include, but are not limited to:

    • General discussion related to the day's events
    • Technical analysis, trading ideas & strategies
    • Quick questions that do not warrant a separate post

    Thread guidelines:

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    • Do not make posts outside of the daily thread for the topics mentioned above.

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    submitted by /u/AutoModerator
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    [Altcoin Discussion] Tuesday, October 02, 2018

    Posted: 01 Oct 2018 09:06 PM PDT

    Thread topics include, but are not limited to:

    • Discussion related to recent events
    • Technical analysis, trading ideas & strategies
    • General questions about altcoins

    Thread guidelines:

    • Be excellent to each other.
    • All regular rules for this subreddit apply, except for number 2. This, and only this, thread is exempt from the requirement that all discussion must relate to bitcoin trading.
    • This is for high quality discussion of altcoins. All shilling or obvious pumping/dumping behavior will result in an immediate one day ban. This is your only warning.
    • No discussion about specific ICOs. Established coins only.

    If you're not sure what kind of discussion belongs in this thread, here are some example posts. News, TA, and sentiment analysis are great, too.

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    submitted by /u/AutoModerator
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    Seven months of Bitcoin price converging to todays level?

    Posted: 01 Oct 2018 09:26 PM PDT

    With untrained eye it seems that since the last crash the price has been drawing a saw, each tooth smaller, each period shorter, always converging towards present price (around 6400-6600). And now it is not willing to move up or down.

    Can someone with a trained eye comment? Is this a prelude to stability, crashing or strengthening? I feel like now is the exact moment to get in before expansion or get out before the fall.

    submitted by /u/Apicit
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    #Bitcoin Price Analysis - 10/02/2018

    Posted: 02 Oct 2018 06:02 AM PDT

    On September 29, the #BTCUSD pair had been range bound. The price is consolidating for a possible breakout in the days ahead. However, the BTC price has failed to break the $6,800 price level in the last month.

    *Bullish scenario: Bulls are interested to overcome the low volume level of $6680. Today, they will try to break it through and gain a foothold in the $6750 area. The global target for bulls are the highs ($6840).

    *Bearish scenario: Bears will try to break through the trend and test Monday lows. This scenario involves a return to the center of the high volume ($6450) and a possible attack on the September 25 lows ($6300).

    *Neutral scenario: Fluctuations in the $6500−6650 range are expected. However, after three days of consolidation, a neutral scenario is not likely today.

    submitted by /u/FXm00n
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    Cryptocurrency Indices as a Synergy of cryptoassets

    Posted: 01 Oct 2018 03:26 PM PDT

    The Crypto Titans Technical Analysis Wrap Up #1 – BTC, ETH and XRP

    Posted: 01 Oct 2018 12:08 PM PDT

    From the article; https://www.coinlearningclub.com/the-crypto-titans-technical-analysis-wrap-up-1-btc-eth-and-xrp

    Bitcoin continues to trade within the confines of the descending wedge formation that has been established over the trading year. In our last BTC analysis, Bitcoin was trading underneath the $6400 area. Price action has since rallied higher slightly and is now trading at the long term resistance level at the long term .786 Fibonacci Retracement level priced at $6622. This price level has been a pivotal market for price action to break above before continuing onto rally higher.

    If the bulls can regather momentum from this area, we expect immediate resistance to be located at the upper boundary of the triangle pattern. If price action can break above the upper boundary, we can expect further resistance higher to be located at the short term .618 Fibonacci Retracement level (drawn in red) priced at $6845. This area of resistance also contains the 100 day moving average further bolstering the expected resistance in this area. Further resistance above this level can be expected at the psychological $7000 round number handle followed by the .5 and .382 short term Fibonacci Retracement levels priced at $7165 and $7481, respectively.

    Alternatively, if the bears regain control of the market and push price action lower, we can expect immediate support to be located at the short term .786 Fibonacci Retracement level priced at $6398. Further support located below this can be expected at the .886 Fibonacci Retracement level priced at $6129 followed by the psychological round number handle of $6000.

    The RSI is currently trading at the 50 handle indicating that the market is still unsure as to which direction it would like to head toward next. If the RSI can break above the 50 handle this would indicate that the momentum has shifted toward the bulls favour and we could then expect BTC to make some further gains.

    submitted by /u/HarmonicOG
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    Bitcoin Market: Why Most People Sell at the Bottom.

    Posted: 02 Oct 2018 12:24 AM PDT

    Hi traders,

    Bitcoin is continuing to trade sideways on diminishing volume.

    While the rest of the market is locked in a standstill, waiting for Bitcoin's blessing to make a move.

    Given the structure of the market, we believe now could be the time of maximum financial opportunity for investing in Bitcoin.

    However, many will not seize this opportunity.

    Why is it that most people capitulate at the bottom of a market?

    Find out: https://www.f0x.tips/bd58b3d0

    submitted by /u/DanJaay
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