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    [Daily Discussion] Saturday, December 26, 2020 Bitcoin Markets

    December 26, 2020

    [Daily Discussion] Saturday, December 26, 2020 Bitcoin Markets

    [Daily Discussion] Saturday, December 26, 2020

    Posted: 25 Dec 2020 08:05 PM PST

    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.

    Other ways to interact:

    submitted by /u/AutoModerator
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    [Altcoin Discussion] Saturday, December 26, 2020

    Posted: 25 Dec 2020 08:05 PM PST

    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.

    Other ways to interact:

    submitted by /u/AutoModerator
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    Feels different this time, someone give me a reality check

    Posted: 26 Dec 2020 02:33 AM PST

    I know we're still going to see dips and volatility, but with a new ATH and institutional investment coming in, it just seems inevitable that BTC will continue upwards. I don't see a way that it doesn't continue up over the next few years.

    However. It's not a sure thing and I know that too, but I don't see the counter argument.

    TLDR: I feel like I've drank way too much hopium laced wine. Someone bring me down a notch or two.

    submitted by /u/That_guy1902
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    2021 Elliott Wave

    Posted: 26 Dec 2020 03:41 AM PST

    Speculatively forecasting the price of Bitcoin via subjectively using the Elliott Wave principle:

    https://12345abcdewxyz.files.wordpress.com/2020/12/20201225-bncblx.png

    The Elliott Wave principle is a method of technical analysis used to track and forecast the nature of financial markets. The theory suggests markets move in waves based on investor psychology: three impulsive waves to progress the overall trend, intercorrelated with two corrective waves of regress. Thereby, a set of five waves complete an overall waveset or cycle. Upon completion, the five wave structure is regressed by three waves to complete an overall opposing waveset or cycle. The pattern of waves emerge repeating on multiple timeframes denoted by degrees, producing a fractal. Fibonacci-based relationships often exist between the waves.

    A potential Elliott Wave model of Bitcoin proposes a structure of five Primary degree waves underway since 2010 —consisting of three advancing bull market waves, interwoven with two declining bear market waves, as follows:

    Wave 1: The first bull market wave 2010-2013 (1219 days) Wave 2: The first bear market wave 2013-2015 (426 days) Wave 3: The second bull market wave 2015-2018 (1065 days) Wave 4: The second bear market wave 2018-2019 (363 days) Wave 5: The third and final bull market wave 2019-?

    Using BLX:BNC pricing, here are Fibonacci-based projection target zones for Wave 5...

    $34,575 : Wave 5 = Wave 3 * 0.500% $60,864 : Wave 5 = Wave 3 * 0.618% $136,152 : Wave 5 = Wave 3 * 0.786% $219,866 : Wave 5 = Wave 3 * 0.886% $379,693 : Wave 5 = Wave 3 * 1.000%

    The magnitude of the bull market impulsive waves which progress the trend, are as follows...

    Wave 1 = 1178 points, 3666017% Wave 3 = 19601 points, 11961% Wave 5 = 21900 points, 700% (thus far as of Christmas Day 2020)

    Since Wave 3 cannot be the smallest in magnitude as defined by Elliott Wave theory, therefore the maximum upside potential for Wave 5 is...

    $379,693 : Wave 5 = Wave 3 * 1.000%

    Upon completion of Wave 5, i.e. completion of a waveset or cycle, the entire advance from 2010 is expected to be regressed by three waves to complete an overall opposing waveset or cycle —a bear market declining around 95% in value, representing the largest decline since inception.

    https://bitcointalk.org/index.php?topic=5300627.0

    submitted by /u/12345abcde00001
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    Bitcoin Opening Range

    Posted: 26 Dec 2020 09:30 AM PST

    I am aware that bitcoin trades 24/7 but can anyone indicate when the opening hour range would be most applicable. I ask because when you are actively trading you can see when there is a certain time frame that you see active trading. I haven't studied it enough but looking for a direction in which to look. Any color would be great. Thank you!

    submitted by /u/xosemanolo
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    Cryptocurrencies - Android cryptocurrency tracker app

    Posted: 26 Dec 2020 07:12 AM PST

    Hello everybody,

    I made an app to help me track my favorite cryptocurrencies and compare their prices in any selected currency and see how they change over time and get notifications on my favorite cryptocurrencies. It's free on Google Play, go ahead and check it!

    Check out on Google Play: https://play.google.com/store/apps/details?id=com.doubleupsilon.crypto

    submitted by /u/visiblepinkunicorn
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