TODAY EXIT Long BTC Position / COMPARISON 24hr VOLUME BTC / CRYPTO CURRENCY BITTREX - POLONIEXsteemCreated with Sketch.

in #bitcoin7 years ago

🐒 24hr VOLUME BTC / CRYPTO CURRENCY ( ALT COINS ) and BTC price comparison

I feel like a lot of Bitcoin when purchased goes to Bittrex or Poloniex in order to trade other Alt coins.
So I decided to start watching the 24hr volume of BTC traded on Bittrex and Poloniex to see how it correlates with the Bitcoin price.

🐒 The 24hr volume BTC is the number of Bitcoins used to trade AltCoins on Bittrex and Poloniex .

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CHART # 1:
BLUE COLUMN = 24hr volume Bittrex / Poloniex combined
RED LINE = BTC PRICE from CoinBase trading platform GDAX

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🐒 I may have isolated a possible chart pattern showing the possibility of Bitcoin rising in price . The pattern works like this when the first 2 consecutive days in a row the volume blue column falls ( they are marked with a YELLOW #1 ) When this occurred it is a signal to Buy Bitcoin and then Sell it approximately 48hrs later. Below are the results of using this Buy pattern.

BITCOIN BUY PATTERN

DATEBUY PRICESELL AFTER 48HRPROFIT / ( LOSS)
5/27/2017$ 2040$ 2268$ 228
6/02/2017$ 2428$ 2560$ 132
6/08/2017$ 2781$ 2877$ 96
6/15/2017$ 2320$ 2564$ 244
6/22/2017$ 2668$ 2714$ 46
7/01/2017$ 2503$ 2485( $ -18 )
7/07/2017$ 2582$ 2557( $ -25 )
7/10/2017$ 25122338( $ -174 )

🐒 Now for a completely different Sell pattern it works like this I have circled two volume highs and the btc price also made intermediate highs then as well . Now I'm thinking that if Bitcoin runs up again in price in new highs I should be watching the volume on this chart and if the volume makes a high above the last high of 400,398 I will be selling some of my Bitcoin.

I will be posting this daily in hopes to help trade Bitcoin .

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DISCLAIMER : This content is for informational, educational and research purposes only.
Please get the advice of a competent financial advisor before investing your money in any financial instrument.

It is strongly recommend that you consult with a licensed financial professional before using any information provided here . Any market data or news commentary used here is for illustrative and informational purposes only.

Please voice your opinions in the comments below.

SUMMARY

🐒 EXIT Long BTC Position using this system

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🐒 EXIT Long BTC Position using this system this trade was entered on July 10 , 2017 at $ 2512.00 on GDAX and exited today at $ 2338 for a loss of $ 174 per Bitcoin .

DISCLAIMER : This content is for informational, educational and research purposes only.
Please get the advice of a competent financial advisor before investing your money in any financial instrument.

It is strongly recommend that you consult with a licensed financial professional before using any information provided here . Any market data or news commentary used here is for illustrative and informational purposes only.

Have you tried to automate this yet with something like Metatrader 4 or 5...?

The Bitcoin course falls. We hope for its take-off in a short time.

Nice info :)

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