The Litepresence Report on Cryptocurrency

Set my spread orders to sell on the way up from 225 to 240. Hit some of those crawling up to 230. Bought back in @ 220.

First there was this...

MY29XqC4


Then this played out and followed...

J9DSy0fO



Probability for 260 is still high.
 
Well that was interesting, someone got fed up w/ boredom and lit up the scene w/ some green.
 
I missed out because I got greedy wanting 214. I should've stayed in. This is one volatile mother right now.
 
muh_roads said:
I missed out because I got greedy wanting 214. I should've stayed in. This is one volatile mother right now.
Click to expand...

been swinging on 216-220 for about 2 weeks now. Targeting 250ish on the daily. 25% long, 75% dry powder. Starting to feel like a big momentum shift.

Hoping to hit a trailing stop at 240 and lock in. We'll see. 240 is gonna be tough cause we are at LOOOONNGG term down side trend resist, but again, looks like momentum to break it finally.

Also, notice the H&S I called a while back did make an appearance, just totally not with the metrics I described. It failed. Also nice counter trend rally on the daily, support building solidly in the 210-220 range. Nice long term pivot I nailed that call, what years ago now :p
 
Last edited:
newbitech said:
been swinging on 216-220 for about 2 weeks now. Targeting 250ish on the daily. 25% long, 75% dry powder. Starting to feel like a big momentum shift.

Hoping to hit a trailing stop at 240 and lock in. We'll see. 240 is gonna be tough cause we are at LOOOONNGG term down side trend resist, but again, looks like momentum to break it finally.

Also, notice the H&S I called a while back did make an appearance, just totally not with the metrics I described. It failed. Also nice counter trend rally on the daily, support building solidly in the 210-220 range. Nice long term pivot I nailed that call, what years ago now :p
Click to expand...

On the 1H I see 1 week, not 2.

Anywho, glad to see you are back. I still think we're going to go sideways for a while...if you can call 100-300 swings "sideways".
 
muh_roads said:
On the 1H I see 1 week, not 2.

Anywho, glad to see you are back. I still think we're going to go sideways for a while...if you can call 100-300 swings "sideways".
Click to expand...

Well I started rolling over my position on the 9th. I was trying to roll my shorts to accumulate at the bottom of H&S confirm, I started getting squeezed on the 10th and 11th, then it started looking like the H&S was gonna not confirm, so I liquidated and took my profit, but I kept the buy on to hedge at 50% from 230 down to 200. It only made it halfway there so Im 25% long rest liquid.

So it was a nice hedge bet, not as nice if I could have rolled my shorts and the H$S would have confirmed down to 160 target. Oh well, Now I have 75% of trade liquidity sidelined in USD and looking for a good entry to leverage my hedge.
 
What I've been hearing/reading is that some bearwhale of sorts got lynched earlier on a short margin call of 31k contracts @ roughly $100 a piece in the process of this mean green. After this recent sideways of boredom and massive short buildups, a bull(s) just sent a message to the bear community in a strong way so we'll see what happens. Luckily, yesterday I randomly bought w/ my play money and was pleasantly surprised that today payed off and continues to do so. Swap interest, in other news, is still weak as of late. I won't lend anymore at this peanut rate after getting double prior. Xapo had some news today but this market move could be congruent or independent of that news.
 
FSP-Rebel said:
What I've been hearing/reading is that some bearwhale of sorts got lynched earlier on a short margin call of 31k contracts
Click to expand...

Bitcoin Spikes $8 in Minutes on Margin Call

By Petar Kotevski on Apr 21, 2015 11:59:29 GMT


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Want to Trade Bitcoin? ForexNews Recommmends. ​
After several days of uneventful price action, bitcoin spiked close to $8 dollars in 8 minutes today. The surge higher started right at 22:00 CET (16:00 EST) as BTC/USD moved from $222.74 to a high of $230.35. This large 3.4 percent move took just 8 minutes to complete. An extension to the gains followed in the hour with bitcoin rallying to the daily high of $232.85. We are currently quoted at $231.25 on BTC-E. As usual, BTC is trading at a slight premium on other exchanges with OKCoin quoting $234.71 and BitStamp quoting $234.70. The 1 minute chart below shows today’s spike from $222 to $230.

The reason for the spike is likely a margin call on OKCoin futures platform. The holder of a large short position totaling around 31,000 contracts (approximately $3 million dollars) got margin called at $232.85. On this pic (found on Reddit) we can see the margin call occurring at 4.04 AM China Standard Time. This corresponds to 22:04 Central European Time. As the call started to get executed, prices surged to a high of $237.80 in two minutes on the nearest futures contract expiring April 24th. By 22:05, the entire stash of 31,000 contracts was cleared, an impressive feet for such a large amount.


The spike higher changes little in the grand scheme of things however. Since the move was most likely the result of a large margin call and not caused by an unexpected news event, today’s gains could prove tentative. In addition, no major resistance levels have been broken to warrant a change in our assessment. The key number to watch remains to be $258.52 per coin. A rally above this important swing high may end the current downtrend. On the lower end, the first weak support is at last week’s low of $213.98. However, a stronger support level can be found in the area between $200 and $208 per coin. Bitcoin will need to clear this area to head lower and continue the losses.

- See more at: http://www.forexnews.com/blog/2015/...-minutes-on-margin-call/#sthash.p7ezwD7R.dpuf
Click to expand...
http://www.forexnews.com/blog/2015/04/21/bitcoin-spikes-8-in-minutes-on-margin-call/
 
Grayscale (GBTC) has all the share paperwork in shareholders hands so go ahead and say your piece about what will happen on monday w/ this contraption.
 
Still bearish guys? I think the market wants to fill in to at least to the 78.6 fib level, which is just below $200.
 
It would be interesting to know what happened on BTC-e. Someone with a million bucks or so pushing the market around for fun? It's pretty sad that such a small amount of money can cause the entire market to react, we need moar mkt cap!!
 
zeMan said:
It would be interesting to know what happened on BTC-e. Someone with a million bucks or so pushing the market around for fun? It's pretty sad that such a small amount of money can cause the entire market to react, we need moar mkt cap!!
Click to expand...
My guess is it's some whale trying to put the short squeeze on and get a reversal going on or someone w/ lotsa cash that is using BTC-e as a means to convert to bitcoin and move his money out of a certain area and fast. Otherwise, he wouldn't be gobbling up orders in such a progressive way and scooping coins all the way up to 260.
 
XBT Provider Launches World's First Bitcoin Exchange Traded Note on Nasdaq Stockholm

Stockholm, SWEDEN (April 28, 2014) - XBT Provider AB (publ) announced today the authorization of Bitcoin Tracker One, the first bitcoin-based security available on a regulated exchange. XBT Provider is launching this financial instrument to meet the needs of investors' growing appetite for exposure to Bitcoin prices.

Alexander Marsh, Chief Executive Officer of XBT Provider, says: "We are proud to offer the world's first "Bitcoin tracker" to be traded on a regulated exchange. By enabling this easy and secure way to invest in Bitcoin we hope to have eliminated the boundaries that earlier prevented individuals and companies from being able to actively invest in what we believe to be the future of money."

Bitcoin Tracker One is designed to provide investors with convenient access to the returns of the underlying asset, U.S. dollar (USD) per bitcoin, less investor fees. Bitcoin Tracker One is authorized by Sweden's financial supervisory authority, Finansinspektionen, and will be admitted to trading on Nasdaq Stockholm. The first day of trading is expected to be May 18th, 2015.
Click to expand...

http://www.bloomberg.com/research/markets/news/article.asp?docKey=600-201504290300HUGIN___EUPRX____HUG1916185-1
 
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