The Litepresence Report on Cryptocurrency

[Crashland]

There is a clearly defined symmetric triangle pattern almost completed on the daily. It will be interesting to see which direction it breaks in the next 0-4 days. With the 50,000-coin auction on Dec. 4 too, I'm thinking we could see some decent movement this week.

 

[PaulConventionWV]

There is a clearly defined symmetric triangle pattern almost completed on the daily. It will be interesting to see which direction it breaks in the next 0-4 days. With the 50,000-coin auction on Dec. 4 too, I'm thinking we could see some decent movement this week.

Seconded. I think we're about to take off this week. The price is walking through that downtrend line as we speak. Just retested, but doesn't want to stay under.

 

[Dianne]

Seconded. I think we're about to take off this week. The price is walking through that downtrend line as we speak. Just retested, but doesn't want to stay under.

Let's hope so.

 

[PaulConventionWV]

Let's hope so.

People are waiting for the auction news tomorrow. Whatever happens, it'll probably happen tomorrow. I'm still leaning toward bullish.

 

[PaulConventionWV]

Let's hope so.

People are waiting for the auction news tomorrow. Whatever happens, it'll probably happen tomorrow. I'm still leaning toward bullish.

 

[Dianne]

People are waiting for the auction news tomorrow. Whatever happens, it'll probably happen tomorrow. I'm still leaning toward bullish.

Oh I forgot about that. I'm stuck in ppc atm, so I better swiftly switch back over.

 

[Crashland]

And...it's Friday and the price hasn't moved an inch since start of week lol.
I still think it will move pretty big soon though. On my chart it still hasn't broken either side of a symmetric triangle that began forming at the start of November. Look for if it breaks above or below range $360-$380

 

[PaulConventionWV]

Oh I forgot about that. I'm stuck in ppc atm, so I better swiftly switch back over.

I haven't traded altcoins in a long time.

 

[PaulConventionWV]

And...it's Friday and the price hasn't moved an inch since start of week lol.
I still think it will move pretty big soon though. On my chart it still hasn't broken either side of a symmetric triangle that began forming at the start of November. Look for if it breaks above or below range $360-$380

I have the same idea. Here's my chart:

https://www.tradingview.com/v/gT6K51x0/

This is a great opportunity to wait for a break of the triangle and just buy or sell depending on whether it breaks up or down.

 

[muh_roads]

I have the same idea. Here's my chart:

https://www.tradingview.com/v/gT6K51x0/

This is a great opportunity to wait for a break of the triangle and just buy or sell depending on whether it breaks up or down.

Glad to see you have been charting bitfinex now. Bitstamp has really been bleeding users...

https://twitter.com/btcdrak/status/541582848743211009

 

[Dianne]

Glad to see you have been charting bitfinex now. Bitstamp has really been bleeding users...

https://twitter.com/btcdrak/status/541582848743211009

Starting to wonder if all the exchanges are manipulating the prices.

 

[PaulConventionWV]

Glad to see you have been charting bitfinex now. Bitstamp has really been bleeding users...

https://twitter.com/btcdrak/status/541582848743211009

I hadn't been aware of that, but I still think they're both pretty good for charting. BTCe less so.

 

[PaulConventionWV]

Bitcoin just broke down out of the triangle it was in, as shown in my previous chart. It doesn't look good for bitcoin. I'm shorting.

 

[Dianne]

Bitcoin just broke down out of the triangle it was in, as shown in my previous chart. It doesn't look good for bitcoin. I'm shorting.

Thanks for the info !! Now I need a quick lesson in "shorting" lolol. Can you do that on BTC-e?

 

[muh_roads]

Thanks for the info !! Now I need a quick lesson in "shorting" lolol. Can you do that on BTC-e?

This definition confuses easily. Shorting just simply means selling. If I was buying Bitcoin, I'd say I'm shorting dollars.

If you want to profit from betting against BTC, then Bitfinex is what you want to use. This is probably the "definition" of shorting you have in your head

 

[muh_roads]

Starting to wonder if all the exchanges are manipulating the prices.

I'm only aware of Huobi and OKCoin doing a full audit. They were clean.

 

[Crashland]

This definition confuses easily. Shorting just simply means selling. If I was buying Bitcoin, I'd say I'm shorting dollars.

If you want to profit from betting against BTC, then Bitfinex is what you want to use. This is probably the "definition" of shorting you have in your head

Yes, there's a difference between selling something that you own, versus borrowing something, selling it, with the intent to buy it back later at a lower price to return to the lender. When I think of shorting I think of the latter.

 

[PaulConventionWV]

Thanks for the info !! Now I need a quick lesson in "shorting" lolol. Can you do that on BTC-e?

I think you can, but I use Bitfinex, and I find it rather easy. I haven't used BTCe in a long time. It's one of the smaller exchanges now. I wouldn't know what to tell you about BTCe.

 

[PaulConventionWV]

Yes, there's a difference between selling something that you own, versus borrowing something, selling it, with the intent to buy it back later at a lower price to return to the lender. When I think of shorting I think of the latter.

Yes, that's basically what it is. It's not a terribly hard concept, you just need to know which buttons to push on the platform.

 

[muh_roads]

Instead of shorting, margin trading, etc...has anyone tried offering up their own BTC as a liquidity swap on Bitfinex? I was wondering what the return was like?