BitOoda_LLC

BitOoda_LLC

Happy Hump Day! This morning we erase the board and take a fresh look at the BTC chart. Over the past three months we have been watching two technical formations take place, a longer-term rally, colliding with a shorter-term descending triangle formation. In terms of the old descending triangle formation, we placed the horizontal line of the triangle at ~$10,800....

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Today we will close out the topic of the LTC Halving. On Aug 5th, the LTC halving took place. We had written two pieces on this topic, originally on June 11th, and the LTC Having Update on July 18th. Back in June we believed that “this event can also be compared to a “buy the rumor, sells the news” type scenario, where weeks leading up to the event LTC price...

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Two weeks ago we wrote the morning report BTC Crossroads. In this piece we studied the BTC chart noting two technical trends, a longer-term bull trend, and a short-term bear trend. BTC has seen a nice rally over the last 7-days, due in part to several geopolitical and economic headlines hitting the tape. We will be coming out with a more fundamental piece on...

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At the beginning of the month we wrote the piece The Trend WAS Your Friend. As we discussed, we had seen a very strong rally for a 2-month period without much of a pullback at all. BTC peaked around $14,000 on June 26th and has been trading in a very volatile but downward trend ever since. In the chart below will describe what we are seeing. Starting in early...

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About a month ago we wrote about the impending LTC halving, which should occur on August 4th. We have watched LTC closely as the deadline closes in, and quite frankly have not seen as much of a push higher as we would have expected. The last month or so has been dominated by the strength in BTC, which we wrote about a week ago in a piece titled “Bitcoin...

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The retracement lower we have been looking for has arrived. This parabolic rally higher in BTC was certainly unsustainable, and needed to come to an end. Where can we look for support? Because of the velocity of the move higher, and the ease at which BTC sliced through resistance, it is hard to get a sense of where support will form. $10,000, because it’s a...

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At BitOoda we have followed the silver analog to analyze BTC price trajectory in the bear market. On February 11, 2019 we wrote: “The current market is rather late in the selloff stage. We are more than 80% off the highs. While we are still in the bear market, any price correction can be significant. Our downside target is in the $2400-$2800 range. A short...

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A week ago, we examined the LTC chart and the downward falling wedge pattern we observed (medium.com). As of last night, LTC has broken through that $75 level and is trading a few dollars south of $75 this morning. All we see is ‘air’ down to $60, meaning that if a selloff precipitates throughout the crypto space, we do not see much support until the $60 level. ...

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Since the beginning of February, we have been watching the outperformance of LTC versus the remainder of the top cryptocurrencies. We have been eyeing some spreads and think this recent rally of LTC presents an opportunity to employ a mean reversion trading strategy. This kind of strategy involves making a bet that prices will return back to the historical...

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Looking for clues in BTC over the last few weeks has been extremely tough. Trends that we have noticed are falling volumes, tighter ranges, weakening implied volatility in the options market, and simmering realized volatility as well. What exchanges can we trust when it comes to volumes? How much of trading is just arbitrage across exchanges, and how much OTC...

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How can you make money in this environment? When you step back and look at trading on a quarterly basis, how has one faired in 1Q19? From January 1st to present, BTC has been stuck in a range of $3,350 - $4,200. Yes, you could have day traded masterly and had a good quarter for top line profits, but as many of you know, fees can add up with an active trading...

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As you may be aware, the Constantinople Hard Fork on the Ethereum blockchain has been implemented. So, lets see how traders reacted to this implementation…*crickets*. This could be one of those ‘buy the rumor sell the news’ type scenarios. What you can see in equities markets, is when a positive catalyst event emerges on the horizon, there is some anticipatory...

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In most mature markets, options can be a major indication on price direction, or at least the markets expectations of future market direction. One way of looking at this could be through the Call/Put Ratio. The ratio is a simple measure of how many call options are being traded relative to put options. As you can see from the chart above (www.sk3w.co) the...

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Two weeks ago, we wrote in our morning piece (medium.com) how thinly traded markets can act in regards to large volume and price moves, like the one roughly 24 hours ago. “The market at present appears to be very illiquid. As a result, prices stay in a tight range for days, only to gap 200-300 points in either direction. That’s exactly what one would expect when...

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On January 4th, we wrote a speculative trade piece for the January 16th Constantinople Fork. Today we will aim to replicate those trade ideas for the second attempt of the Constantinople Fork Implementation. According to the core developers, the fork will become effective on block number 7,280,000, which should occur on Feb 27th. When looking for opportunities...

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Today we follow-up with our ‘BTC Contraction/Expansion Report’ from Monday 2/4. In that piece we wrote “The second strategy that you could deploy would be to place a BUY-STOP order just above the tip of the last 1-day candle, and SELL-STOP order just below the bottom tip of the last 1-day candle. The idea here is that when the move is made, you can have a good...

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Happy Superbowl Monday. The New England Patriots long-term success is truly a remarkable feat, whereas even if you don’t like them, you must respect them! Unfortunately, the game yesterday was a bit of a snooze fest, similar to what is going on in BTC. The volumes over the last 72 hours have been some of the lowest we have seen in months. The downward trend...

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Good morning and welcome back from the long weekend. This morning (1/22) we saw a brief selloff followed by a quick reversal here in BTC. We like to look for patterns and trends, and what this price action reminds us of was the quick REJECTION of the pop up to ~$4,200 on January 8th. Seeing no follow-through, BTC went sideways for roughly 48 hours then...