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I dont share your interest in ETH, arent like 70% of ethereum tokens still held in presale wallets? You can't even really run a full node without a specialized set up at this point, as dapps and icos are flooding the chain.. It's giving XRP a run for it's money in terms of least realistic valuation, Eth is a perma short.
Hi Dan, Could you comment about this tweet of Peter Brandt in your next video ? https://twitter.com/PeterLBrandt/status/1026983873144442880 ) I am a holder (and I watch your video daily don't ask me why) and it's really interesting for me to hear what would you think ?
Goodmorning Dan, my analysis for bitcoin for this morning 9/8/18. I am seeing the trade going to resistance and then short to support and then wait for it to go long. I am not sure it will break resistance, but the bulls are still weak.
I'm to the point now where as soon as I see your video post, I open up trading view, grab a pencil and paper and analyze the btc chart....looking at the exponential resistances...volume...RSI...lower or higher highs...lower or higher lows...writing down my findings, then watching your videos to see how well I did. It's fantastic!
Thank you for your content, Dan. By far the best info on youtube. Seriously addicted fan here :))
TheChartGuys Sorry, actually yes you're right, I agree the original reaction was ETF news, but at a point the rumor of the lows took over. If this was all about ETF news only, I don't think many would've exited their position and probably would be adding to it. Either way it's crazy, I thought most who knew about the ETF most likely knew the high possibility of the date being extended...
Thank you for the Videos/Updates
I'm comfortable shorting. My whole life has been a bearish move. I'm just not comfortable shorting on kraken, bitmex, or the futures market.
It occurred to me again that there's a decreasing amount of people who have a reason to buy these things. I mean, people used to have to buy bitcoin to buy other coins. That's not really the case anymore. The only reason anybody has to buy ETH is to get into ERC20 ICO's. That has been fading because of the prevalence of scams and rise in regulatory scrutiny.
But, miners must sell coins to pay the electric bill, data center, staff, etc. Companies that received ETH for their ICO must sell their coins to pay salaries, development costs, lambos, Puerto Rico moving bills, coin life tattoos, etc. Miners with a big investment in equipment must hedge short in the futures or spot market to protect their investment, but nobody really has to buy this shit. At the very least there's a systemic asymmetry in supply and demand. The bulk of the supply was either given to them for nothing(ICO's, founders), or they manufactured it. The fact it had been going up and doesn't cost anything to store makes it an anomaly for a manufactured product. Otherwise they would have been dumping every day since day 1.
Kraken has liquidity problems and server problems. There's a term people use, something like, 'I got Krakened.' This either refers to getting stopped out due to wide price swings(long wicks) or the inability to manage trades when there's a lot of trading activity due to slow or dropped connections. Crypto exchanges really are a shit show, and that's why people want to be able to trade with brokers that at least have reliable technology.
Bitmex is no better although they have been constantly improving. Bitmex doesn't serve US customers either, but a lot of people trade there anyway using a VPN or proxy. I don't know how that will work out if an issue comes up. They don't have any legal protection because they aren't supposed to be trading there. I've considered it myself, but how much money do you put with a company who says you can't trade with them and is located in the Republic of Seychelles?
Bitfinex is unavailable to US customers, but that's the place to go if you aren't in the US.
8 months into this. Lower high. Lower high. Lower high. Unlike 2014 there is no real reason today. If there is anything that is making me consider a long-term pessimistic Viewpoint it is that. Low flows of new Fiat and lots of money exiting
There doesnt have to be a fundamental reason for this bear market, its purely technical. Markets move in cycles, unfortunately most people entered crypto at the peak of a bull cycle late 2017 that began back in late 2015.. What we are in is simply an inverted cycle of what we witnessed back in 2017. This year IS the catalyst that crypto needs to build enough steam to push much further past previous all time highs. Without extreme lows we cannot keep pushing forward to extreme highs.
The daily volume doesn't stand out as much as you emphasize - at least on Binance, Bitfinex and even Coinbase - there were many days like that not just April.... and if you look at Binance or Bitfinex, the volume of the last 4 hour leg down is comparable to the previous legs in the August dropdown... it only stands out on Coinbase, but not @ Binance and Bitfinex...
great vid again & thanks for the recording time! Was always looking for it but f* youtube does not report it. Question: 9:14 what do you mean by shorting - just selling BTC or do some of those contracts/options/selling-what-is-not-yours kinda advanced things? (I am new to this terminology, I just normally buy and sell crypto)
I still believe the market is being manipulated Downward, the question is how far will it go? It never does what we think it will and it feels as though it will continue to fall, which is why I’m HODLing. Every time I follow TA, news comes out. Every time btc shorts reach these higher levels, BAM! Squeezed out bitches. These exchanges are making a killing snuffing margin traders. Only the professionals and whales are killing it because they know how and when to turn around. My belief is that this recent bloodbath is because insiders know that the ETF will be approved and are flushing it down to load up. Good luck
andrew munz Not a good idea if u don’t know what you’re doing. No offense, I’ve been at it over a year and still won’t touch it. Shorts will be crushed. Bitmex is where u can do it. But I will warn u, margin trading and shorting is dangerous especially when we’ve already moved 20% down.
Is there a way to auto scan markets for current equilibrium patterns in various assets? Or must we search the various charts manually... just curious since you mentioned that if we had patience to play only equilibrium pattern then we would be profitable. Thanks for your work!
When I first started on thinkorswim I was thinking, 'What's all this? Where did they hide the buy button?' If you hit the help button at the top there's a link on the screen to the learning center which can tell you about using the platform and thinkscript. I wish I could point to a good resource, but I think I just muddled around and searched the learning center and google when I needed something. Like tradingview you can look at the existing scripts to see something similar to what you want to do in action.
bang your head oh interesting. I just started thinkorswim platform super complex coming from trading view. I wish I understood a bit more of what you were saying... any video recommendations for a noob?
With little crypto hopium left, i honestly see a $BTC 5k test coming within a month, with us hovering around that range untill the 30th Sep ETF decision. If denied(which i believe it will be), 3k BTC support to be tested. Love you Dan, good video as always!
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