Bitcoin (BTC) Evening Update: One more dip lower for the correction?

in #bitcoin4 years ago

SUMMARY

It's odd. I had been using the Coinbase BTC price feed like below. And yet, it's chart is markedly different from the BitStamp and BitFinex exchanges.

If the below Coibase chart is correct, then the a,b,c,d,e pattern should hold and price can start impulsing.

The channel below is from BitFinex. Price has actually made a lower low. Hmm, this is very different from Coinbase. Perhaps they had site exchange issues. Regardless, the below chart shows a one more lower low probable as a different shaped a,b,c,d,e triangle.

The Bitfinex exchange chart jives with the BitFinex. However, I've labeled a varying correction count. This would however make the correction too quick so doubtful to be a primary count.

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We can thank the horrible slippage when it comes to all the exchanges...to me this would scare the CME watching these exchanges go down. I have read in many articles that the Futures market or the CME will help with this, but i wouldn't be surprised that after that showing, they may delay the launch. This is what the Ceo of Interactive Brokers was worried about. I think he sees that these exchanges are not ready for the movement this is going to bring to these exchanges. This is why Bitshares is so awesome. I placed orders just fine during this dip...did any one have any problems?? It was smooth as a 50 year old scotch

I had terrible latency issues on bitshares during the dip. Still love them though.

Sorry to hear that Dan....i was wondering if anyone else had issues...i was surprised at the fact that Bitfinex, Bittrex, Coinbase and Gemini all went down at the same time...i have some friends that are commenting that this was a joint effort to act as a curcuit breaker like the stock market since it dipped over 20% fast...don't know, but it's possible...they are far from being as prepared as the NYSE and NASDQ for these types of volume spikes...i swear...2018 is going to be an interesting time...i've got the popcorn ready

I had small latency issues on bitshares during the dip..no problem for me. BitShares will help and do no harm!!

Nice one. Lol

It is possible that my internet connection was playing a part in it. It often slows way down in the evenings.

Can you do a monero update?

Hi... I think it is the Japan market that is ultra bullish.

(

Notice how Mona coin did not drop during this correction. I think JPY is pull BTC up. Here is a graph of JPY vs BTC. My 2 cents. Hope it helps. Thanks.

They lead in terms of volume so does the exchange with the most volume steer the ship?

GDAX will undergo a scheduled maintenance at 1:45am tonight so maybe that has something to do with it? Either way, doesn't the exchange with the most volume lead the way?

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different exchanges provide multiple vantage points for discernment . can you do bts plz

Eventually we'll have MtGox 2.0

I noticed earlier and mentioned it to someone when talking that the Coinbase price for Ethereum was steadly higher than all other markets.

On Bittrex the first low is still lowest...E not complete, but this shows a low of ~$9150 to come: BTC 30.11.17.png

Hi Haejin, could you please review STRAT? many thanks

Whats interesting is when the prices was bullish 48 hours ago, there was about $1k difference in BTC between 2 exchanges I use in Australia! Not sure why, but huge difference, then yesterday I noticed that the higher priced exchange was the lower price exchange only 24 hours later....

Could you please review OmiseGo the Chalice of Wealth / Jaws of Wealth?

I think Eth chart is a better indicator. It has very similar downtrend channel like the BTC one you see. When I saw your first update with the triangle was confused and though the correction couldn't possibly last a few days. Then since btc moves all tides I saw on bittrex and eth made a downward channel with Apex at round 330 ish. So it actually makes sense if BTC went down to 8300 eth will in the 300s. I think the Bitfinex chart is more accurate, coinbase and gdax are fast exchanges but horrible charts.

What’s up haejin I’m looking at Cardano (ADA) graph and it looks like a text book pan handle on its last dip, what do you think?

Update BitShares?

Thank You, @haejin, your analyze are always very close to what's happening. Keep it on. Thanks.

$14K is the next price target IMO psychologically.

is this a cup and handle???

@haejin, Coinbase was down and had some maintenance going on. Probably that was the reason for incorrect data.

https://status.coinbase.com/incidents/srtcd6sh4l8g

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