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    [Daily Discussion] Friday, May 10, 2019 Bitcoin Markets

    May 10, 2019

    [Daily Discussion] Friday, May 10, 2019 Bitcoin Markets

    [Daily Discussion] Friday, May 10, 2019

    Posted: 09 May 2019 09:05 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:

    • Be excellent to each other.
    • 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] Friday, May 10, 2019

    Posted: 09 May 2019 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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    Bitcoin enters another parabolic advance as Bitfinex premiums fall to 1.5%

    Posted: 10 May 2019 07:58 AM PDT

    ​

    Bitcoin has broken out again as it continues along its short-term parabolic advance to fully retrace the November 2018 capitulation event.

    One piece of news that is acting as fuel to propel the current trajectory is that non-Tether backed exchanges have now closed the Bitcoin price gap to under $100 between them and Bitfinex, which is currently in the midst of a legal challenge from US authorities.

    https://coinrivet.com/bitcoin-enters-another-parabolic-advance-as-bitfinex-premiums-fall-to-1-5/

    submitted by /u/Coinsmash
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    Bitcoin May Face Significant Retrace as It Nears Key Resistance Level at $6,400

    Posted: 09 May 2019 10:32 PM PDT

    The crypto community was pleased to find that Bitcoin was able to surge past $6,000 for the first time since the cryptocurrency plunged to its 2018 lows of $3,200 in December.

    Major collaboration between Bank & Bitcoin system

    Analysts are now closely watching the $6,400 level to see how the crypto responds to this price, as many analysts believe that there is a significant level of resistance at this price which may lead to a pull back that could offer a good entry point for fresh long positions.

    Bank & Bitcoin system Analysis

    At the time of writing, Bitcoin is trading up 2.6% at its current price of $6,080, up slightly from its daily lows of $5,900 which were set yesterday.

    Over a one-week period, BTC has been able to surge significantly, climbing from lows of $5,500 to highs around its current price levels, marking a major extension of the upwards momentum that the cryptocurrency incurred in early-April when Bitcoin swiftly surged from the low-$4,000 region and into the $5,000 region.

    Although the recent series of price surges have been undoubtedly bullish, analysts are still warning traders to express caution before "fomo-ing" into the crypto, as a retrace may be inevitable.

    Lucid TA, a popular crypto analyst on Twitter, expressed this sentiment in a recent tweet, noting that traders should closely watch for the next retrace, as it may mark a great entry opportunity for fresh long-positions.

    submitted by /u/Johans_wilgat
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