ibankbitcoins
Long

BTC/LTC analysis, market update 9/11/2014

HUOBI:BTCCNY   Bitcoin / Chinese Yuan
Market since earlier this week is still in chop phase, no clear indication of trend or direction. Bitcoin             price is bouncing between the two blue support/resistance line. As you know, I've went long yesterday at a sub-optimal price from today's hindsight; not too concerning since my trade's time frame is much greater.

Covered my BTC short from 3 weeks ago, went long at 480.6


There is nothing much to talk about in terms of price for BTC             , but lets take a step back and look at LTC. LTC has long been considered the silver             of cyptocurrency, and their correlation mathematically is R>0.8. If you are not familiar with correlation coefficient , here is a wiki below. My point about LTC and BTC             is that they should move in tandem, one should compliment the other. LTC has been strong lately, making 10 day high. LTC has been leading this trend down, making new lows before or together with BTC            

http://en.wikipedia.org/wiki/Pearson_product-moment_correlation_coefficient

I do bitcoin             market updates and live trades daily . Follow me on my bitcoin             trading blog and twitter: ibankbitcoins.com, http://www.twitter.com/ibankbitcoins
http://www.reuters.com/article/2014/09/12/us-usa-bitcoin-cftc-idUSKBN0H71FU20140912?feedType=RSS&feedName=technologyNews
Reply
u should have waited imo. there is currently no demand unless whales jump in to the rescue. 440 and 420 are next
+1 Reply
IvanLabrie PRO BitcoinGuru
+1, monitor vol spikes on downmoves...currently doing nothing and moving down slowly.
Reply
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out