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Bitcoin technical analysis

  • #2,361
  • Feb 20, 2014 4:15pm Feb 20, 2014 4:15pm
Quoting lady_luck
{quote} The thing with the masses is they follow the mass. I was thinking more about what we were saying before, the random Joe is more likely to buy btc going up from 100 to 1000 when everyone else seems to do so around him, than when this weird new electronic get rich paper bill is loosing value from 1000-100. It's about wanting to be part of something big, about doing the same as everyone, getting in at a good opportunity doesn't really motivate the masses. Because they don't have the time or the tool to understand what's wad. That's the reason...
Cheers L_L. Bitcoin now looking seriously at 480/430........
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Money Makes Money
  • #2,362
  • Feb 21, 2014 6:16am Feb 21, 2014 6:16am
hi friends,

I'm not able to post here as often as i would like, but for the time being here is a link to where i'm posting about MtGox today.

http://www.cryptocoinsnews.com/2014/...ading-100-now/
cryptocurrency everytime
  • #2,363
  • Feb 21, 2014 6:35am Feb 21, 2014 6:35am
Quoting venzen
hi friends, I'm not able to post here as often as i would like, but for the time being here is a link to where i'm posting about MtGox today. http://www.cryptocoinsnews.com/2014/...ading-100-now/
Good morning Venzen,
I hope all is well This is a very good article, I'm afraid of what's gonna when MtGox will attempt to reopen, probably an "arbitrage rush".
  • #2,364
  • Feb 21, 2014 6:56am Feb 21, 2014 6:56am
Quoting KiwiOz
{quote} Cheers L_L. Bitcoin now looking seriously at 480/430........ {image}
Hi,
Are you still looking at those target below 530 ? Or do you think it could go toward 670 first ?
  • #2,365
  • Feb 21, 2014 7:09am Feb 21, 2014 7:09am
Quoting lady_luck
{quote} Hi, Are you still looking at those target below 530 ? Or do you think it could go toward 670 first ?
Could be wrong but I think 600 will stop this retrace, then on down to the next speed bump at around 480/430.
Cryptocoins are gunna have to start from the ground again I'm afraid. Makes for good trading though.
Money Makes Money
  • #2,366
  • Feb 21, 2014 7:46am Feb 21, 2014 7:46am
Quoting KiwiOz
{quote} Could be wrong but I think 600 will stop this retrace, then on down to the next speed bump at around 480/430. Cryptocoins are gunna have to start from the ground again I'm afraid. Makes for good trading though.
I answered, but I didn't ask you, what's the absolute minimum for you ?
  • #2,367
  • Feb 21, 2014 1:09pm Feb 21, 2014 1:09pm
Quoting KiwiOz
{quote} Could be wrong but I think 600 will stop this retrace, then on down to the next speed bump at around 480/430. Cryptocoins are gunna have to start from the ground again I'm afraid. Makes for good trading though.
I have to be honest here. I have finally lost my nerve. My $3900 investment is now worth $2200,
as of today I am $1700 in the red. I had another $1400 budgeted to buy more coins today, but have decided not to buy "cheap" coins and instead I will put it in my regular savings account instead. I've been watching the drop for 2 months now and I just can't stomach the idea of dropping more money into coins until I start to see some positive signs that we are going to go back up again!

Edit: Feel free to call me a chicken! LOL
  • #2,368
  • Feb 21, 2014 1:19pm Feb 21, 2014 1:19pm
Is anyone here going to play a gox come back? Gox btc are just so cheap I think we are going to have some kind of squeeze higher
  • #2,369
  • Feb 21, 2014 3:52pm Feb 21, 2014 3:52pm
Quoting Yolandi
Is anyone here going to play a gox come back? Gox btc are just so cheap I think we are going to have some kind of squeeze higher
Yeah gox love their comeback, peeps stay pissed for a while then they forget. But they starting to accumulate, and as much as their issue could be acceptable what's isn't is their nonexistent communication and their habit to pick an escape goat.
So seems like they will keep on doing business, at the opening we will see an april classic, rush to buy on gox, rush to sell on stamp, followed by a general leveling.

dcramer16, I think it totally make sens, you have the chance to both hold coin and have cash on the side, when the market are going the opposite direction you expected, it's a safe and wise decision.

Kiwioz, i ran some more fib and count, i'm not gonna post them all, but I ended up a few time with 496 on stamp.
I've scratched my head to find some lower result, but from my point of view it really wouldn't make sens. Specifically if PA were to go below 496 it would imply a whole larger cycle down to 371 and then an overlap thing similar to what we had on gox/btce at 259.
  • #2,370
  • Feb 21, 2014 4:47pm Feb 21, 2014 4:47pm
Quoting dcramer16
{quote} I have to be honest here. I have finally lost my nerve. My $3900 investment is now worth $2200, as of today I am $1700 in the red. I had another $1400 budgeted to buy more coins today, but have decided not to buy "cheap" coins and instead I will put it in my regular savings account instead. I've been watching the drop for 2 months now and I just can't stomach the idea of dropping more money into coins until I start to see some positive signs that we are going to go back up again! Edit: Feel free to call me a chicken! LOL
I don't know what is your entry point, but I feel you are making a big mistake. I hope you didn't sell yet, maybe I could convice you to hold it.
  • #2,371
  • Feb 21, 2014 5:32pm Feb 21, 2014 5:32pm
Quoting Yolandi
{quote} I don't know what is your entry point, but I feel you are making a big mistake. I hope you didn't sell yet, maybe I could convice you to hold it.
Hello Yolandi. My entry point is $21.75 for LTC. It was $24 but each time I buy ltc my average entry point goes lower and lower. I won't sell, I'll hold it until at least $22 but I'm beginning to wonder how far down the road that's going to be. Each time I think it's as low as it's going to get, it just sinks lower. To explain what my strategy is here, I am saving about $1000 per month to put into a vacation fund for a vacation in June 2015, instead of using a bank account for my fund, I am using my BTC-e account. So I'm in no hurry to see the price skyrocket. However, I am going to have to build a fence around my yard in May, so for the time being I am suspending all savings for vacation and putting that money into a "fence" fund. Since I will need this money by middle of April, I don't think it's wise to put this money into coins in case it drops lower or doesn't rise by April when I need it. Hope that makes sense. If not for the fence, I would probably keep putting the money towards coins because I don't need the price to come up until at least next February. Over all I think right now is a great time to buy, except the next $4000 I save I will need in April. Thanks for your reply!
  • #2,372
  • Feb 21, 2014 5:48pm Feb 21, 2014 5:48pm
Quoting dcramer16
{quote} Hello Yolandi. My entry point is $21.75 for LTC. It was $24 but each time I buy ltc my average entry point goes lower and lower. I won't sell, I'll hold it until at least $22 but I'm beginning to wonder how far down the road that's going to be. Each time I think it's as low as it's going to get, it just sinks lower. To explain what my strategy is here, I am saving about $1000 per month to put into a vacation fund for a vacation in June 2015, instead of using a bank account for my fund, I am using my BTC-e account. So I'm in no hurry to see...
Ah okay I thought you were talking about bitcoin but its LTC.Because I don't trade LTC I haven't been monitoring it during this whole mess. So wait a sec while I check it
  • #2,373
  • Feb 21, 2014 5:51pm Feb 21, 2014 5:51pm
Quoting Yolandi
{quote} Ah okay I thought you were talking about bitcoin but its LTC.Because I don't trade LTC I haven't been monitoring it during this whole mess. So wait a sec while I check it
Since I got into the ltc game, it seems like it follows along almost exactly with btc. Anytime btc rises, ltc rises, anytime btc drops, ltc drops etc.
  • #2,374
  • Feb 21, 2014 6:04pm Feb 21, 2014 6:04pm
Quoting dcramer16
{quote} Since I got into the ltc game, it seems like it follows along almost exactly with btc. Anytime btc rises, ltc rises, anytime btc drops, ltc drops etc.
You are right, although because its BTC-E it is not following with the same strenght as it was.Anyway It will go to 21.75 almost for sure before April. But don't try to make a profit on it, I would sell it as soon as it hits 21.75 or close to it, although I think its still possible it will go even higher.There are some risks on this play but this is name of the game, don't be scared. We are going to have a relief rally, hard to time it, but it wont take long.
  • #2,375
  • Feb 21, 2014 6:05pm Feb 21, 2014 6:05pm
And don't get me wrong, I think right now is an excellent time to buy in, if you're holding for the long term. Short term though is a very bad time to buy. I would even go so far as to say now is a great time to buy at Gox, only assuming they get their shit together and fix their problems.
  • #2,376
  • Feb 21, 2014 6:09pm Feb 21, 2014 6:09pm
Quoting Yolandi
{quote} It will go to 21.75 almost for sure before April..........We are going to have a relief rally, hard to time it, but it wont take long.
That's why I like to keep an eye on this thread. Everyone here is so optimistic. Anytime I get to feeling bad about the price dropping, I just come on here and read the last couple pages and my melancholy is cured!!
  • #2,377
  • Feb 21, 2014 6:10pm Feb 21, 2014 6:10pm
https://www.tradingview.com/x/wdleK9W8/

Look like an impulse
  • #2,378
  • Feb 21, 2014 6:16pm Feb 21, 2014 6:16pm
If anyone here has coins on Gox, this might be a good article to read. http://www.coindesk.com/has-company-...x-withdrawals/
  • #2,379
  • Feb 21, 2014 6:24pm Feb 21, 2014 6:24pm
Quoting lady_luck
{quote} I answered, but I didn't ask you, what's the absolute minimum for you ?
280.............Sorry, but that's the way it looks unless something drastically "GOOD" happens soon.
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  • #2,380
  • Feb 21, 2014 6:26pm Feb 21, 2014 6:26pm
Quoting dcramer16
{quote} That's why I like to keep an eye on this thread. Everyone here is so optimistic. Anytime I get to feeling bad about the price dropping, I just come on here and read the last couple pages and my melancholy is cured!!
Yes, I want to help, I know a lot of people right now are going to make things they are going to regret in the future.
Sometimes they only need to some prespective on what is going to happen. Gox has more issues in communication than anything else right now.
People are confuding and intrepreting gox lack of communication skills with stalling for the inevitable insolvency. The chances right now is that they are wrong on that, even if they are proven right in the end, a more transparent communition is enough to result in a big surpise as market expectations are really low. So the chances are is that its going to happen EVEN if they at the end of it all they end up closing their business. We are heading for a squeeze higher a big volatility
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