Not sure what this Bitcoin price wave is doing... It had reverse diverged strongly to the downside and may be complete. But what exactly it is that had completed is not clear... This analysis is provided by xbt.social with a 3 hour delay. Read the…
Not sure what this Bitcoin price wave is doing… It had reverse diverged strongly to the downside and may be complete. But what exactly it is that had completed is not clear…
From the analysis pages of xbt.social, earlier today:
An evident wave count is contradicted by the MACD indicator. As often pointed out, we find the highest MACD reading on wave iii of any impulsive move. Here we have a higher reading on wave v. Possibly, the entire structure is an ABC structure and not i-ii-iii-iv-v, but that wave immediately following the low earlier in the weak has the reactivity and volume of a first wave…
The wave labeled ‘b’, has a typical ending diagonal look about it which may mean that is actually wave v of the sequence, and we have only just completed wave a to the downside. Lots of questions about this last advancing wave and no answers from the chart. We have to sit and wait.
Coinarch solved their technical challenges and the leaderboard shows vigorous trade activity by Neolystic1, Diabolicus and Outlander – the smell of brain cells frying hangs in the air. Boem and Redrob1551 could be the consensus winners by generating most profits by fewest trades.
The action of frenetically hitting buy and sell on each subwave may make the trader look like a “hard worker” and a hard worker s/he may be, but s/he needn’t do that to generate a lot of profit. It’s not the smart way of getting ahead. Smart trade, in the end, is more patience and less sweating. It would not be a surprize if the competition winner ends up having fewer trades than the runner-up.
xbt.social member sways consensus:
Join CoinCompetition and win 5 bitcoins.
Bitcoin price is undulating around the $242.50 and 1500 CNY price level. As had happened so often in the past, the reactions strongly outweigh the induction factors, and we’re left wondering about the eventual outcome. Sometimes the chart technicals say nothing about what is happening and today is one of those days.
Bitfinex Orderbook and Buy/Sell Volume:
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Last modified: January 25, 2020 11:06 PM UTC