It seems that this support was establish at 7787 with Fib level .618 using hourly data over the last 24 hours. Analytic charts are included so this is not just hunches. This is actual charts data from a real crypto exchange!
Note that a live event will take place this Monday at 12 noon EDT (same as NYC) to discuss the latest results of both these new Kraken and Forex bots. I will send out the log in info with notices in the next few emails. You can also view it on my blog or at the Facebook.com/quantlabsnet page under the Events tab.
It seems that this support was establish at 7787 with Fib level .618 using hourly data over the last 24 hours. Analytic charts are included so this is not just hunches. This is actual data from a real crypto exchange!
Remember I use Kraken data where this is Bitcoin against the US Dollar. The charts are in the post. Let me know what you think of this analysis.
All these charts will be updated as part of my Analytics service listed here. Also, note that this is the lower monthly price you will get right now. Signals will be included so price will go up soon as well. The Word document highlights over 18 potential other big alt coins.
The new pricing action of both Bitcoin and Ethereum is establishing new support levels as both coins do well against the US Dollar. I use USDT (also known as Tether) according to Binance. This shows it might time to jump back in.
This will be part of my Analytics service while it is prices very low. I will be raising the price soon so take advantage while you can!
To run IQFeed with Java on Mac OS is a dream come true. You can also use an IDE like Javabeans or Eclipse to the coding with this data. Here I demo using option chain data, tick data streaming, and news items. You can also get Level 2 for all data.
Hint: Interactive Brokers can be used for orders only but using the IQFeed if you want. All access classes can be covered here with futures and options. Oanda is supported as well.
As for Coinogy which appears to support big exchanges including Binance.
Instead of trying to use low volume cyrpto currency pairs, it made sense to focus on higher liquid pairs with a potential future. This would include the fast growing Ripple XRP. These are used as selected by Coinbase to support on their exchange or custodial service. Some of these have a great or even questionable future but I think following what Coinbase will support is a better.
Let me know what you think of either of these coins or the future of them?
I find none of these 3rd party options are very good. They are not intuitive with weak tutorials. Also remember that these Python packages can be abandoned like ibPy. That is not a good future. Also I found the current native Interactive Brokers native API Python support is low level which means a lot of work. I recorded this for my Facebook Live:
The includes a comment of the API still too slow.
Note that there is $20US/month fee for accounts <$2000. Also, there is access to historical or real time data under this amount so IQFeed may be one of the options you have. Once your account >$2k, you will have access to all market data for free. This is for individual accounts so there are different fees for advisor accounts.
I find my course in the Elite is most predictable since I can use Redis as the message queue between my Python scripts with a Java listeners for the orders. This seems to works ok as described in my course of
Python C++ Algo Indie Trading Business Course Futures Options Algos
I find these solutions and platforms can be useless compared to coding your own. If you roll your own, you will be able to define and control your own trading techniques. You will understand them better so don’t be lazy. This does support Python though.
I am still hearing about those use this QuantRocket or something similar?
As described in the video, I called the last few number of days one big CLUTER-F. This video highlighted the meaning in a non profanity way. One goal of this process to find a new support and resistance line. Do understand that this process of building trend-lines using an automated method to calculate peaks and troughs (or pivot points) is not easy. I refer you to this as it will explain the process better than I can here. I could easily get bogged down in this quagmire. As a result, I am calling it a day so I can move onto other important phases based on my Nictrades learning.
Not perfect science
This is not meant to be perfect but the general of a 3rd touch on a trend line can confirm an entry or exit. One may be able to use these to make that point a support or resistance line. You could also swap out when price cross these lines to be used as a new support or resistance line. There is not perfect science but you try your best with simple indicators that can be used in combination of other indicators to find new support and resistance line. You could also use other rules to confirm market positions. As well, one could combine these with other indicators mentioned which would include moving averages or harmonic patterns.
As indicated in the video, I have ways to calculate the expected third touch if two have already happened on a trend line. If price moves across that expected point, we could use that as way to do a market position or confirm something else.
Note that this process can be used at a universal level of all asset classes hopefully