[Daily Discussion] - Thursday, September 02, 2021 Bitcoin Markets |
- [Daily Discussion] - Thursday, September 02, 2021
- Bitcoin/USD analysis 1 day 9-2-2021
- Coinbase’s Bitcoin (BTC) Outflow Highest Since December 2017
- BTC Production Cost Estimate with CBECI currently at about $27K USD
- Crypto trading tool that allows sequence orders, similar to thinkorswim?
- Software that allows OTO or sequence orders?
| [Daily Discussion] - Thursday, September 02, 2021 Posted: 01 Sep 2021 09:00 PM PDT Thread topics include, but are not limited to:
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| Bitcoin/USD analysis 1 day 9-2-2021 Posted: 02 Sep 2021 04:24 AM PDT Hello again everyone. Today I decided to take a look at Bitcoin (daily) as ETH took center stage yesterday and did a number on those bears. Bitcoin decided it was going to follow last night and we approached resistance. 50k... This 50k resistance is sure a thorn in the side of the bulls. Speaking of resistance, ETH crushed the resistance at 3600 which is likely the most recent catalyst to the current bullish momentum. At least in my opinion. I see a possible ascending right triangle pattern, which is generally considered bullish. These patterns do not always break out as advertised so make sure you set a stop loss. There have been consistent higher lows (bullish) recently and that makes up the bottom of the ascending triangle. The top is marred by the resistance at 50k. Something's gotta give. RSI is still low enough for us to break the resistance at 50k. Time will tell if this comes to pass. I am going slightly off topic here to discuss stop losses on small cap coins. I understand that sometimes some of you set a stop loss on these low cap coins. Then complain about how the stop losses do not trip consistently. The likely reason for this is low liquidity is to blame. If you dont have buyers then your stop loss won't trip. That is why I prefer trading big cap coins like BTC or ETH. There is a reliable amount of liquidity to trade with confidence in your stop loss. Just something I wanted to discuss as I have noticed this pattern. People complain about their stop not tripping. Even trading Bitcoin can result in skipped stops. But it's much more rare due to the massive liquidity Bitcoin possesses. WTFDIK?? TLDR: Bitcoin decided it wanted to join the bulls. But 50k is strong resistance. Come on bulls!!! [link] [comments]  |
| Coinbase’s Bitcoin (BTC) Outflow Highest Since December 2017 Posted: 01 Sep 2021 05:34 PM PDT Bitcoin has started off the new month of September, with new lows not seen over the week. BTC formed a peak of about $48,245, and the price began to fall. It shattered the support levels of $47,500 and $47,000. Coinbase BTC Outflow Data fom TBEN Markets Pro and TradingView shows that BTC/USD has hit lows of $46,530on Bitstamp in one day. It is the lowest the coin has experienced since August 27. It traded around the support area of $46,500 and formed a low area of about $46,540. It is now consolidating the losses near the 23.6% Fib retracement level of the recent decrease from the $48,245 swing high to $46,540. Bitcoin is currently gaining again and trading at $47,686.71. For Willy Woo, an analyst, who echoed this week's findings, Bitcoin is likely to maintain a large pool of support in the current ranges. BTC has a pricing base ranging from $45,000 to $50,000 for over 1.65 million of them. He said on Twitter that Bitcoin is approaching a price stability region. The zone around $51,000 is set to crumble at the mid-level. It is a final obstacle level to Bitcoin. The timing for this is quite a mystery. Investors See the Light In turn, investors seemed to go on the day with reserves on Coinbase recording the lowest since December 2017. There are only 700,000 BTC and about $20 billion in stablecoins in centralized trading platforms ready for exchange. During the May sell-off, there was quite some BTC inflow. Coinbase is currently experiencing a large outflow of coins, according to Glassnode. Cointelegraph contributor Michael van de Poppe however, sees nothing much in the news. He insists that it is just business as usual for BTC as it goes through consolidation. Ethereum is Rallying Ethereum formed a base for a sustained gain at $3,250 and began. The price of the ETH cleared the resistance levels of $3,350 and $3,380. It even rose above the $3,400 zone and was significantly above the 100-hour average. Nearly $3,477 was established before a downside reversal took place. The price was lower than 3,400 dollars, but the bulls were active at around $3,350. Overnight ETH/USD exceeded $ 3,500, the highest over the US Dollar and the BTC in three months. Its cryptocurrency market cap dominance climbed to 20.4 percent, with bitcoin holding steady at 44 percent. Successful bulls could lead to larger gains than $3,480. The next biggest resistance is close to $3,500. Once crossed, it may lead to another break above the $3,500 resistance. Ether may rise to the level of $3,600 in the given instance. **** [link] [comments]  |
| BTC Production Cost Estimate with CBECI currently at about $27K USD Posted: 01 Sep 2021 10:54 PM PDT Hoping to get some feedback here. I'm looking for better estimates of electricity vs. total production cost ratios of different regions if anyone has any relevant data that'd be much appreciated. I'm currently assuming that all Chinese production has stopped, and that the flared gas guys are lowering cost significantly. Also, if I'm wrong about something please do let me know. Graph, details of the estimate will be updated here, https://bastion.substack.com/p/btc-production-cost-estimate [link] [comments]  |
| Crypto trading tool that allows sequence orders, similar to thinkorswim? Posted: 01 Sep 2021 02:21 PM PDT For those who have traded stocks and maybe used thinkorswim you may know what I'm referring to, in these types of trading programs you can input a "sequence order" where, when the first order fills it triggers the next one and so on, for example I could input a sequence like:
I'm hoping to find a crypto trading tool that allows doing this as I don't always have time to check much during the day so this is the only way I can effectively trade sometimes. Thanks for any info. [link] [comments]  |
| Software that allows OTO or sequence orders? Posted: 01 Sep 2021 06:21 PM PDT I would ideally like to find a trading software that allows me to enter sequence orders, where one order triggers another order and so on. I would settle for just having OTO orders, where one order then triggers the other, for example a stop buy entry would trigger a stop loss to be set. Any info is appreciated as I have been searching but so far most seem to just have very basic order types. [link] [comments]  |
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