Forum on trading, automated trading systems and testing trading strategies
Sergey Golubev, 2017.11.07 05:34
Bitcoin's 'bubble' is unlike anything we've seen recently (based on the article)
Financial bubbles are often fully recognizable only after they burst — when it's too late. But the speed of bitcoin's rise has already convinced many that its price is well disconnected from its underlying value.
Bitcoin's price has rocketed 646% in very volatile trading this year as its demand and popularity has grown. As the chart above from Bespoke Investment Group illustrates, the rally has been faster than most other severe bubbles in recent history, including tech and homebuilder stocks.
But there's a key difference between bitcoin's rally now and home prices, for example: The fallout from a potential bitcoin price crash is unlikely to damage the broader economy.
Chart was made on MT5 with BrainTrading system (MT5) from this thread (free to download) as well as the following indicators from CodeBase:
All about BrainTrading system for MT5:
Bitcoin/USD daily price was bounced from resistance level at 7,887 to below for the bullish ranging to be started. If the price breaks 6,030 support level so we may see the secondary correction, otherwise - ranging within the levels.
Chart was made on MT5 with Brainwashing system/AscTrend system (MT5) from this thread (free to download) together with following indicators:
Same systems for MT4/MT5:
As we can see Bitcoin is falling, while Bitcoin Cash and Bitcoin Gold both have gained well over 50% in value earlier today.
There is an unusual shift in market cap going on.
The new Bitcoin Gold Mainnet should go live in about a few hours.
The developers of the Bitcoin GOLD team have successfully launched the mainnet.
Sergey Golubev, 2017.11.14 07:51
Bitcoin Gold had recovered modestly (based on the article)
Sergey Golubev, 2017.11.22 11:51
Top 5 Tips For New Bitcoin Investors (based on the article)
Sergey Golubev, 2017.11.27 07:44
$10K Bitcoin by 2018 (based on the article)
Intra-day price on H8 chart is on bullish breakout for 9,714 resistance level to be breaking for the bullish breakout to be continuing with 10,000 psy level as a next bullish target.
The chart was made on MT5 with BrainTrading system (MT5) from this thread (free to download) as well as the following indicators from CodeBase:
Sergey Golubev, 2017.11.29 19:03
Bitcoin/USD - bullish breakout; 11,522 is the next key target (adapted from the article)
Daily price broke trendline together with 9,988 resistance level to above for the bullish breakout. The price is breaking 10,798 resistance for the bullish breakout to be continuing with 11,522 as a next target to re-enter.
I think the crash is evident.
Now we only have to wait until the fear set's in.