Filtering by Tag: bitcoin

Risks of Trading Bitcoin

Added on by C. Maoxian.

This section of the risk disclosure made me laugh:

“The underlying ‘cash’ markets for Bitcoins (the product from which Bitcoin Futures and Options are derived) are largely unregulated, and many are offshore. Underlying Bitcoin markets may not be subject to registration, licensing, or fitness requirements, audit trail or trade reporting rules, market integrity rules, wash sale, spoofing, or other anti-fraud rules, disaster recovery or cybersecurity requirements, surveillance requirements, or anti-money laundering rules. Because of these factors, Bitcoin markets may be unusually susceptible to fraud and manipulation, which could adversely affect the price of Bitcoin Futures and Options.”

Bitcoin Sell Setup Finally Appears on 24-hour Chart

Added on by C. Maoxian.

The waves are very clear in the Bitcoin (as they are in most speculative manias) ... if Bitcoin breaks below the 16,000 level, then the targets that come into play are 10,900, 8,800, and 3,600. Since these targets are based on the 24-hour chart, it will take weeks [er, months] for them to play out, but that's my take on things.

Price could push above wave C without triggering below 16,000, possibly setting up a higher wave C, but unless the major wave 5 is "invalidated" (price moving above it), this looks very bearish to me.

2018-01-08_6-59-18 bitcoin.jpg