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Bitcoin technical analysis

  • #241
  • Nov 29, 2013 6:42pm Nov 29, 2013 6:42pm
......Wow bitcoinchina $1209........

http://bitcoinwisdom.com/markets/btcchina/btccny

....Gold......

.....Trap in bet wing a hard place and a rock, those two ema's are hard to break sometimes on higer time frames not this 5M.......

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but on this daily is very clear that gold want to keep going south, my question remain the same, will bitcoin reach gold by the end of the year?

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....... Well, $ 1222 the low for gold and $ 1209 the high of BTC are not that far apart, isn't ?
The Chonchy
  • #242
  • Nov 29, 2013 7:01pm Nov 29, 2013 7:01pm
........Mt.gox reach $ 1242 already, I didn't see it before, sorry, so in deed BTC is as good as gold.........

http://bitcoinwisdom.com/markets/mtgox/btcusd
The Chonchy
  • #243
  • Nov 29, 2013 7:04pm Nov 29, 2013 7:04pm
..........Mt.Gox is at $ 1222 now, wow we are leaving in historic times, the day the BTC when over the gold ounce.............

.......careful with the fall guys this war ain't going to be easy with the fiat money lords, so they are going to do what ever to bring the BTC down.......carefull don't bet the house......
The Chonchy
  • #244
  • Nov 29, 2013 9:10pm Nov 29, 2013 9:10pm
............I see gold on the monthly ready to go further down........

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on the weekly I see it reaching that double bottom, or latest low.......

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on the daily I see a retrace to the 1300.......hitting the green ema 30 first.......

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on the 4 hours is retracing back to the red ema 100 then bounce to meet the trend down on the monthly and weekly.......

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The Chonchy
  • #245
  • Nov 29, 2013 11:26pm Nov 29, 2013 11:26pm
Morning all,

Seems the moment has arrived. BTCUSD is forming an ending diagonal and simultaneous double top:

The target looks to be around 1240 and the subsequent correction may be swift. I am not sure what the downside target is, because there is no indication that this is the end of the broader advance. The level to which BTCUSD corrects will help us assess if more upside is due or if (once correction is over) a new wave up will begin.

My analysis suggests we visit $500 in case of a large correction and then PA will find parity around $1000

http://ubuntuone.com/4UgYIm4RfIjGxWtXKFPhde
cryptocurrency everytime
  • #246
  • Edited 2:29am Nov 30, 2013 1:47am | Edited 2:29am
http://ubuntuone.com/6sqPwyuxRl5DuTHGK8Q8DY
cryptocurrency everytime
  • #247
  • Nov 30, 2013 2:28am Nov 30, 2013 2:28am
Quoting venzen
{image}
lol. very good venzen, very good........
The Chonchy
  • #248
  • Nov 30, 2013 2:32am Nov 30, 2013 2:32am
Quoting venzen
Morning all, Seems the moment has arrived. BTCUSD is forming an ending diagonal and simultaneous double top: The target looks to be around 1240 and the subsequent correction may be swift. I am not sure what the downside target is, because there is no indication that this is the end of the broader advance. The level to which BTCUSD corrects will help us assess if more upside is due or if (once correction is over) a new wave up will begin. My analysis suggests we visit $500 in case of a large correction and then PA will find parity around $1000 {image}...
I agree 1240 is a good resistance level, let see when it will bounce or break, because is could also break north and keep going, so lets wait and see but I agree 1240 is god resistance level, wow what a nice instrument to trade if I had some bitcoins........


http://bitcoinwisdom.com/
The Chonchy
  • #249
  • Nov 30, 2013 2:38am Nov 30, 2013 2:38am
Quoting chonchy
{quote} lol. very good venzen, very good........

Saturday morning fun

I see the market is pushing PA above 1200 again but it's unlikely to hold. An ending diagonal is final - it may be acting only for this wave up which could then see another push up to 1300/1400 but the double top formation implies much deeper correction - possibly $900 - which is not enough because there is an obvious 4th wave bottom near $500... so let's see... i don't want to have exaggerated downside expectations and miss the ride like last time! Similarly, get in too soon (before correction is over) and have the whole anti-Bitcoin establishment laugh at us
cryptocurrency everytime
  • #250
  • Nov 30, 2013 5:28pm Nov 30, 2013 5:28pm
1200 holding, cashing out some now.
BTC FTW
  • #251
  • Dec 1, 2013 12:56am Dec 1, 2013 12:56am
Quoting venzen
{quote} Saturday morning fun I see the market is pushing PA above 1200 again but it's unlikely to hold. An ending diagonal is final - it may be acting only for this wave up which could then see another push up to 1300/1400 but the double top formation implies much deeper correction - possibly $900 - which is not enough because there is an obvious 4th wave bottom near $500... so let's see... i don't want to have exaggerated downside expectations and miss the ride like last time! Similarly, get in too soon (before correction is over) [b][i]and...
The Chonchy
  • #252
  • Dec 1, 2013 12:58am Dec 1, 2013 12:58am
Quoting smartypants
1200 holding, cashing out some now.
Hello smartypants long time no see you, hope all is good with you......

....We are going down me think, Houston we have a problem.....hit a moving average and bounce up but like venzen say, there is more to come.......

http://bitcoinwisdom.com/

how can I post the chart I want from bitcoinwisdom? anybody?
The Chonchy
  • #253
  • Dec 1, 2013 1:09am Dec 1, 2013 1:09am
.........I believe 1063 is the low or now on Mt.Gox......smart people are cashing in but the market is up so they have to buy back to get in and not miss the bus, lol, I will be surprise if it goes lower.......but it could, of course, that will be my chance on yours......
The Chonchy
  • #254
  • Dec 1, 2013 1:32am Dec 1, 2013 1:32am
venzen I found this old post but like it so much that couldn't resist.....if you have seeing it disregard.......

There are other advantages to bitcoin too, besides being more convenient. The fact that no central party controls the supply means no central party can inflate it to redistribute wealth in their favor. No one can debase bitcoin to pay for a war. Also, since it is deflationary (in the sense that prices reliably go down), it encourages savings, because everyone gets richer that way.

http://astrohacker.com/ahc/bitcoin-i...c-singularity/

those this means BTC could be the next world reserve currency?
The Chonchy
  • #255
  • Dec 1, 2013 1:51am Dec 1, 2013 1:51am
wow this people were so rite......I envy them.....

what a vision.....

https://bitcointalk.org/index.php?topic=12156.0
The Chonchy
  • #256
  • Dec 1, 2013 2:10am Dec 1, 2013 2:10am
To those learning a thing or two from this poster send donations to...... 16HFaBXxWcT9QCG3ZZYPo9Dt6gnFuuZuWA .......lol
The Chonchy
  • #257
  • Dec 1, 2013 2:41am Dec 1, 2013 2:41am
https://images.weserv.nl/?url=i.imgu...b3aF0F.png&fnr
The Chonchy
  • #258
  • Dec 1, 2013 3:01am Dec 1, 2013 3:01am
http://money.msn.com/saving-money-ti...ollar1-million

in the comments, this guy said that he doesn't see the value in bitcoin, that is because he don't know what it cost to mine a bitcoin, or he just don't know what is the risk of having all your money into it and then get one of those crashes with you in it, people that have hold on to bitcoin from the beginning are braves and I congratulate them and If they are the next elite of the world I sure hope they know where they come from......I'm sure he haven't seeing the cost of the machines to mine bitcoins and how absolute they become from one day to the other.......pioniers of BTC, I salute you.....



http://media-social.s-msn.com/s/images/bluemann.png
Write a reply...


http://media-social.s-msn.com/s/images/bluemannxl.png
Other than the element of supply, I fail to see how these coins are any different than fiat currency? Highly subjective values are everywhere, including the stock market as well as currency.

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The Chonchy
  • #259
  • Dec 1, 2013 5:26am Dec 1, 2013 5:26am
Chonchy,

Thanks for the posts. I'm not fully online today due to internet problems in Thailand.

I just read the Bitcoin Forum post where the guy says: "I believe Bitcoin can go to $70-$100..." and another guy's saying: "One day when it goes to $1000..." oh to dream, hey?

Thing is most people are walking dead. The lights are on but nobody's home. They're batteries for somebody else's dream engine and when they saw The Matrix they thought: "SciFi is so cool, imagine that could really happen...". For such automatons the Bitcoin is hard to place into their known-possibilities reference framework because it comes from a place and a culture they just don't know about. Open Source ideology has been going on in a parallel universe since the 70s without mainstream knowledge. So when this "thing" that is conceptually and technologically out of scope from consensus reality shows up and starts it's unimpeded growth the "sensible" and "intelligent" conclusion to draw is that "Oh, it's one of those whacky bubble phenomena". Tulips, Tamagochi. If that's your frame of reference then that's what you're going to think.

Is that what Bitcoin looks like to the average Joe? Scary.
cryptocurrency everytime
  • #260
  • Dec 1, 2013 5:34am Dec 1, 2013 5:34am
Quoting chonchy
.........I believe 1063 is the low or now on Mt.Gox......smart people are cashing in but the market is up so they have to buy back to get in and not miss the bus, lol, I will be surprise if it goes lower.......but it could, of course, that will be my chance on yours......

PA is fragmenting... trend is undergoing the first stages of breakdown into decline. You can see how people are thinking: "This is a correction, I have to get in here so i don't miss the rocket to 1400!" And others are seeing the vascillation and selling. I would not be surprised to see another rally up but what shows in this chart is serious instability... there's that chart pattern - what's it called again? Oh , yes, "the Sputtering Bi-Plane"

Attached Image
cryptocurrency everytime
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