Daily Discussion Bitcoin Markets |
- Daily Discussion
- I trained a neural network to predict BTC price (and build a dashboard around it)
- I made a tool to calculate leveraged long bets on bitcoin
- Rough Pullback Predictions Based off of RSI
- Profit-taking strategies
- iOS / Apple Watch widget that shows BTC/USD without color?
- Coinbase verification
| Posted: 03 Jan 2021 09:00 AM 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:** * [Get an invite](https://reddit-bitcoinmarkets.slack.com/join/shared_invite/enQtNjM1NTg3ODgwODUzLWRhOGI3MGFlZDVjMzBlYWYwYzIzZWNlOThjZDQ3ZjhlZGU2MDY2ZGY5ZDZjYzY5MzQyYWJiZWE5YzRiNmY0NmM) to live chat on [our Slack group](https://reddit-bitcoinmarkets.slack.com/) [link] [comments]  |
| I trained a neural network to predict BTC price (and build a dashboard around it) Posted: 03 Jan 2021 04:28 AM PST Ive been working for a few years on AI/Machine learning algos in combination with equity markets. Some while back I though it would be interesting to train it also on BTC price. The dashboard show the AI prediction for BTC return for the coming week. You can find a screenshot of the output here https://imgur.com/GsW5Ljt . The complete dashboard is html based (interactive) but im not sure if its allowed to share the link. Anyhow interested to hear feedback and if anyone else is using AI to watch markets? [link] [comments]  |
| I made a tool to calculate leveraged long bets on bitcoin Posted: 02 Jan 2021 01:41 PM PST tl;dr you can use LeverageYourCoins.com to calculate profit/loss potential of leveraged long bets on bitcoin. I know that the standard advice for bitcoin is to buy and hodl for many years, and this is great advice, but it's still useful to know about and consider the potential of leverage. Leverage has a different risk/reward profile than buy/hodl, and that may appeal to you. What is leverage for bitcoin? Making a leveraged bet increases your risk/reward profile. With leverage, you can gain (or lose!) additional BTC. This is different than buy & hodl, where your USD value changes, but you can never gain/lose BTC. What's an example of a leveraged long bet on bitcoin? Suppose you have 1 BTC in assets. You think the price will increase to $100k within 2 years, and you're willing to bet 20% of your BTC on this. You can purchase perpetual on BitMex, and if you're right, you'll have a gain of 10% (+.1 BTC), on top of your USD gains. I hear you should never use leverage Many people will tell you to never use leverage, and that only professional traders should do so. While it's true that leverage can be complicated, I view this a "abstinence only" advice. I think safe and informed use of leverage can be valuable. What's complicated about leverage? Different leverage contracts have different risk/reward behavior. Options can expire worthless if your target price doesn't hit fast enough, and futures can result in liquidation if the price drops too low. The tool I made, LeverageYourCoins.com, computes all these risks based on your price target and risk tolerance. Then, it pulls live data from different exchanges like BitMex and Deribit, and figures out the best way to leverage based on your price target/risk. It also tells you how many contracts to purchase, which is important for avoiding liquidation. It takes into account your time horizon, and uses that the compute interest. As an example, suppose you think the price will increase to $100k or more within 2 years, and you want to risk 25% of your assets. As I write this, the best leverage for this target/risk is to buy 0.2 worth of BitMex perpetual contracts (see example 1). However, if you think $100k will hit within 1 year, then it's better to buy a Deribit Call priced at $48k, expiring Dec 2021. (see example 2). How much can I gain/lose with leverage? For each scenario, the tool will tell you your potential profit/loss, and show a table with different risk and price levels. Make sure to read this table, and see if it matches your comfort level with risk. Leverage is a powerful, and I'm hoping this tool will demystify it a bit for people. Let me know what you think! [link] [comments]  |
| Rough Pullback Predictions Based off of RSI Posted: 02 Jan 2021 09:46 PM PST I was messing around a bit on TradingView and I noticed a slight pattern between RSI and pullbacks that we have seen in previous cycles. I know it's rough work and very speculative but I just thought it was interesting enough to share and get some of your thoughts on. Here's also a bit of a pullback projection for what we might be able to expect if this pattern continues to stay true: (Please note for this pullback projection, the RSI is currently between the 90.48 and 96.14 trendlines marked so I estimated about a 50% pullback for now (seems a bit much imo but you never know!)) I just though this was kind of interesting so let me know what y'all think! [link] [comments]  |
| Posted: 03 Jan 2021 09:43 AM PST Not sure if I am thinking about this the right way so would appreciate any insight! But basically, say you buy $10k worth of BTC. It rises to $15k, and you sell $5k of it. You still have $10k worth of BTC, you wait for it to rise to $15k and sell another $5k of it. Rinse and repeat. The only caveat being it may be a good idea to wait for a year between the initial purchase to avoid the short-term capital gain tax? [link] [comments]  |
| iOS / Apple Watch widget that shows BTC/USD without color? Posted: 03 Jan 2021 06:07 AM PST Hello everyone. I love being able to have the BTC price available at a glance, both on my iPhone and my watch. However, I don't like the red/green colors at all. My brain sees that first and makes me happy or sad before I have been able to process the price. I mean, I look at my watch right now: $33,815. Red. I see the red and get immediately worried, before having time to think and decide that $33k is awesome. I've tried several apps (Stocks, Tradingview, Bitcoin Ticker) but I haven't been able to disable de color in any of them. Anybody has any sugestions? Thanks in advance. [link] [comments]  |
| Posted: 03 Jan 2021 02:10 AM PST Hello all. I have a coinbase account that I used for a couple of years now to trade and purchase stuff online with. It's very easy and fast. Now after first of January they require me to verify my identification as of 2021. The thing is, they think I come from Spain 🇪🇸 when In fact I'm from Scandinavia. I can't change country settings so instead of having to deal with that, I thought about using another site to buy bitcoin and buy stuff from since I probably need to verify there also. Do any of you have some alternative to coinbase? [link] [comments]  |
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