Baltic Oil Terminals Share Discussion Threads

[hpcg] 18/3/2018 14:31

ETH seems to have no discernible support in the market at all. If it keeps going down until BTC bounces from 6000(?) it might even have a 2 in front of it.

[random] 18/3/2018 12:43

Eth single support is 5000. Been writ in the charts for months.

I can't see the long thesis in a market so resolutely bearish, except for short term trading, where there are plenty of long setups and resulting short entries. A trader's dream tbh, just stick a bot on it imho.

[hpcg] 18/3/2018 09:10

I've just closed my Ether short again, for a very nice over night profit. As you say this is an area of support if the others at least hold.

[suffersnofools] 18/3/2018 03:40

Eth has support at 500,400 and then around 330. But as ever it really depends on btc. I've just bought eth at 507, stop at 475,I'd be a bigger buyer around 400 which would likely coincide with btc 7200 given how eth is getting hit relatively harder.

[hpcg] 17/3/2018 23:22

Actually I have reopened short ETH, I can't see why anyone would own it in comparison to the coins which are not in such jeopardy. That alone should see it keep falling IMO.

[hpcg] 17/3/2018 23:15

Agree, I've closed my shorts. What is interesting though is Ether went below its 6th Feb low but didn't collapse. The ETHBTC chart looks terrible so unless there is a concerted recovery across the board which supports Ether I can't see how it survives technically.

[mcbeanburger] 17/3/2018 22:28

i believe so - this is how you get longs out and at the same time frustrate shorts. its a signature setup.

if we are correct then we buy the rally and ignore the risk to the downside.

[suffersnofools] 17/3/2018 21:02

Smart money is already accumulating here. No chance of that low on this cycle.

[mcbeanburger] 17/3/2018 20:17

weekly not monthly 50

[mcbeanburger] 17/3/2018 20:12

won't surprise me that they produce some bullish news. might be just they won't or can't control it.

[mcbeanburger] 17/3/2018 20:07

market very difficult to read - vol is up of late but not translating into price increases.

a lot of bearishness abounds but price not dropping that fast - will there be buying off the monthly 50ma? not sure but staying out until i see a clear trend. for the moment looks like sideways market.

hear tell there is some news coming out next week? anyone know from who?

[odvod] 17/3/2018 19:09

how arrogant and wrong I was this morning. I am back at PC and got a wake up call heh heh

[euclid5] 17/3/2018 18:48

Bitcoin's ‘Death Cross’ Looms as Strategist Eyes $2,800 Level

There’s been a definitive shift over the past couple of months after the bubble activity at the end of 2017,” said Paul Day, a technical analyst and head of futures and options at Market Securities Dubai Ltd.

The strategist studied the virtual currency’s 2013 tumble for clues on how it may act this time round. His conclusion? Gear up for a 76 percent tumble from late February highs, which would take Bitcoin to a paltry $2,800, if the downtrend is repeated. Bitcoin fell 2.2 percent to $8,120 at 11:17 a.m. in London, according to Bitstamp prices.

[hpcg] 17/3/2018 18:14

No I don't, but I see that as a risk to bitcoin, not an opportunity. Isn't there a mechanism built in for transaction cost recovery? It necessarily kicks in when all the coins have been mined. Higher transaction costs always reduce liquidity, and in the case of bitcoin, also increase transaction times. A viscous circle ensues where costs increase causing the unit to be less valuable, and so on.

Though to be fair I don't much care, trading is more profitable than holding a position.

[suffersnofools] 17/3/2018 16:52

We shall see re ath, but I think the current level of fud driven shorts are a healthy source of future buyers before we even discuss the next round of fresh fomo cash. We can review in a couple of months :)https://blog.genesis-mining.com/the-11-myths-of-bitcoin-9-bitcoin-has-no-intrinsic-valueAdditionally the current cost of mining a btc is around the cost of buying one! You think it is sustainable for the price to trade below cost?

[hpcg] 17/3/2018 16:40

A video where someone is making a lot of money trading cryptos would also validate my opinion. The dollar price of cryptos are set entirely by money flow. If people lose money they stop buying. On the other side there successful traders taking money out. So the coins are a wealth transfer mechanism, not a store of value. Of course there are people trading to accumulate more coins, but they aren't adding money to the system either. As there is no intrinsic wealth creation coins will tend to lose value over time unless there is a mania going on. There will be future phases when there will be raging rallies and new money is attracted by the prospect of quick profits, but I am convinced we have seen the all time highs.

[hpcg] 17/3/2018 11:15

Interesting video The 20 minute mark is a great insight into human psychology when it pertains to trading, fear, greed, FOMO and loss aversion.

My short thesis, aside from there being no intrinsic value, and the eye watering transaction costs, is the the amateur money is being slowly but surely extracted from the system and it is never coming back.

[suffersnofools] 17/3/2018 09:49

Sounds very wise ;)Interesting how bch has been the leader for the last few sessions...

[suffersnofools] 17/3/2018 09:44

....and the stops are all triggered if we lose 7200!

[suffersnofools] 17/3/2018 09:43

Well everyone is waiting for 7600/7200 but the way I see it if it goes that low it will be very brief and I just scale in further. Given that my count has us completing a full minor 8 wave cycle then we should as a minimum look for a 100% retracement of that count in the major 3 wave up so my target is circa 11750

[odvod] 17/3/2018 09:36

I bought ltc this early morning on Bitstamp. There was only me and bots. I did literary move up or down candles on all computers around the word by buying/selling 1 LTC. strange feeling. There was NO liquidity.

I am going gardening and will start selling in about 8 hours (evening CET). then at around 143/145 LTC we will start hitting strong resistance to overcame. and I will sell all again.

[suffersnofools] 17/3/2018 09:18

Getting some bullish divergence on the 4hr. Think this could be a bottom. I'm going to add a few coins with tight stops.

[mcbeanburger] 16/3/2018 13:39

"boom" as they say.