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Bitcoin technical analysis

  • #4,221
  • Jul 2, 2014 9:16am Jul 2, 2014 9:16am
Do you still hope 525 and less ?
http://en.itar-tass.com/economy/738692
Quote
Russian regulator to launch national payment system in mid-2015

“We advocate a cautious approach to the bitcoin. We are monitoring the situation together with the Bank for International Settlements. We cannot reject this tool. It may as well have a big future,” he said.
  • #4,222
  • Jul 2, 2014 8:26pm Jul 2, 2014 8:26pm
Hello everyone,
Long time no see Chonchy, I'm glad you doing well.
Venzen, KO, sorry I haven't been much around lately, I've just "relocated" to a new country.
But it doesn't look like much has been happening with BTC. If i remember well, the last time we talked, we were both expecting to see 630.
On the other hand LTC flashcrash to $2 that was something ! May be it's already getting obsolete since better alt are coming out.
Good luck to y'all

edit : Gjgjg you had a really good take on the auction and some really interesting perspective.
  • #4,223
  • Jul 3, 2014 2:56am Jul 3, 2014 2:56am
Quoting lady_luck
Hello everyone, Long time no see Chonchy, I'm glad you doing well. Venzen, KO, sorry I haven't been much around lately, I've just "relocated" to a new country. But it doesn't look like much has been happening with BTC. If i remember well, the last time we talked, we were both expecting to see 630. On the other hand LTC flashcrash to $2 that was something ! May be it's already getting obsolete since better alt are coming out. Good luck to y'all edit : Gjgjg you had a really good take on the auction and some really interesting perspective.
Thanks LL

Incidentally, the single winning bidder of the auction is far from a pump and dump guy, the 30k coins are safe in his hands:
http://new.livestream.com/draperuniv...itcoin-auction
and i hope the losing bidders will now head to the exchanges and use their unspent $ and buy up some coins

from the last estimation/information, he spent ~18$mil on the 30k coins, which would mean around $600 per coin (which was about 10% more than exchange price on the same day).

Sad to see LTC (and others) tail off on this, but the rate of decline of LTCUSD is not as bad as LTCBTC so Im going to hold some LTC for now for a future bounce up, but Im going to put most of my eggs into the BTC basket going forward.
  • #4,224
  • Jul 3, 2014 9:04am Jul 3, 2014 9:04am
Quoting lady_luck
Hello everyone, Long time no see Chonchy, I'm glad you doing well. Venzen, KO, sorry I haven't been much around lately, I've just "relocated" to a new country. But it doesn't look like much has been happening with BTC. If i remember well, the last time we talked, we were both expecting to see 630. On the other hand LTC flashcrash to $2 that was something ! May be it's already getting obsolete since better alt are coming out. Good luck to y'all edit : Gjgjg you had a really good take on the auction and some really interesting perspective.
hi lady_luck!

Glad to hear you're well and good luck with the relocation.

Seems like the BTC rally is slowly gathering buyers into the market.
cryptocurrency everytime
  • #4,225
  • Jul 3, 2014 11:34am Jul 3, 2014 11:34am
Quoting gjgjg
{quote} from the last estimation/information, he spent ~18$mil on the 30k coins
It's not an estimation, it was the current price on Bitstamp ...
Do you mean he was the only one to bid more than the market ?
  • #4,226
  • Jul 3, 2014 9:36pm Jul 3, 2014 9:36pm
Where to now for Ltc/Btc.???????
Attached Image (click to enlarge)
Click to Enlarge Name: ltcbtcweekly.png Size: 34 KB
Money Makes Money
  • #4,227
  • Jul 4, 2014 7:16am Jul 4, 2014 7:16am
Hello Everyone,

Not trading this pair, but like to watch it from time to time...

On the weekly price bounced off Apr-May UTL @ 557.00...almost a no-brainer
both Nov-Jan and Jan-May DTLs broken also.
Next resistances 668.42, 789.00 ...
Attached Image (click to enlarge)
Click to Enlarge Name: 1WeeklyBTC-e.png Size: 27 KB
Hear the music before the song is over ...
  • #4,228
  • Jul 5, 2014 3:43am Jul 5, 2014 3:43am
no cheap bitcoin from the European warning (perhaps those who missed the U.S. auction), so let's go
  • #4,229
  • Jul 6, 2014 11:24pm Jul 6, 2014 11:24pm
Quoting lady_luck
Hello everyone, Long time no see Chonchy, I'm glad you doing well. Venzen, KO, sorry I haven't been much around lately, I've just "relocated" to a new country. But it doesn't look like much has been happening with BTC. If i remember well, the last time we talked, we were both expecting to see 630. On the other hand LTC flashcrash to $2 that was something ! May be it's already getting obsolete since better alt are coming out. Good luck to y'all edit : Gjgjg you had a really good take on the auction and some really interesting perspective.

yep lady_Luck, long time, not doing much in the markets, just buying some physical gold and silver, and working hard in the bathrooms, good luck to you in the relocation.....hope all goes well....
The Chonchy
  • #4,230
  • Jul 6, 2014 11:47pm Jul 6, 2014 11:47pm
Quoting venzen
{quote} Hi chonchy, thanks for dropping by. Good to see you and good luck with w*rk. Earn some dollars and come join us trading the BTC. (they say this thing is going to the M***n but we're still waiting!)
Well I think in anticipation of the Obama law july 1, some people have being buying gold silver and BTC but slowly, let see, maybe it doesn't go to the moon just yet but I'm sure before Obama leave office, it will go up some more, if they keep pumping dollars into the markets by way of their usual suspects, stocks and the dow will keep going up but as soon as they pull out of the market there is where all this instruments are going to go to the moon, but then maybe then is too late to get in the bus that is why I'm scaling in all of them, little by little, but no trading, too little money to make a profit, I still do more with the bathrooms and the bikes, when and "if" I get strong enough to make a dent here, I will surely comeback, thanks for the always welcome home here, good luck and trade well, love ya all......
The Chonchy
  • #4,231
  • Jul 6, 2014 11:48pm Jul 6, 2014 11:48pm
Quoting KiwiOz
Where to now for Ltc/Btc.??????? {image}
how are you KO, hope fine, love your reply on the other thread, "gold is heavy", lol
The Chonchy
  • #4,232
  • Jul 7, 2014 1:44am Jul 7, 2014 1:44am
Quoting chonchy
{quote} how are you KO, hope fine, love your reply on the other thread, "gold is heavy", lol
Cheers chonchy. Don't be a stranger. Keep in touch.
Money Makes Money
  • #4,233
  • Jul 7, 2014 8:14am Jul 7, 2014 8:14am
Heading back down again..
Attached Image (click to enlarge)
Click to Enlarge Name: btcusdh4.png Size: 41 KB
Money Makes Money
  • #4,234
  • Jul 7, 2014 10:47am Jul 7, 2014 10:47am
Quoting KiwiOz
Heading back down again.. {image}
Seems to be, but plenty of buyers lurking (compared to sellers) in this price range. Would be surprised to see it get much below 600...
Attached Image


LTC/BTC edging up too...
  • #4,235
  • Jul 7, 2014 1:51pm Jul 7, 2014 1:51pm
Maybe cause of the magic ingredient ...

U.S. sanctioned us BNP , so we will accelerate the dedolarisation ...

what a bunch of idiot ...
  • #4,236
  • Jul 7, 2014 8:45pm Jul 7, 2014 8:45pm
Until all the merchants that accept bitcoin stop converting straight back to Fiat, I can't see any move North. Question is, how do you convince the merchants to hold on to & trade with Bitcoins.??
Money Makes Money
  • #4,237
  • Jul 7, 2014 11:56pm Jul 7, 2014 11:56pm
Quoting KiwiOz
Until all the merchants that accept bitcoin stop converting straight back to Fiat, I can't see any move North. Question is, how do you convince the merchants to hold on to & trade with Bitcoins.??
Hello KO,

Not that much, as a merchant you'd need to be able to resupply and access your profit at anytime to pay your dues (salary, rent etc..)

So all that it requires is :
First, more company accepting bitcoin to ease the resupply without fiat, and more individual accepting bitcoin (so it can be spent at every level)
Second, a steady or slowly increasing price, so you'd have a benefit for going through the trouble of using this alternative ecosystem plus the security of not loosing money and getting bankrupt.

The following question. being how to manage those two things, I guess, it's a challenge for the traders, us who keep the market alive.
  • #4,238
  • Jul 8, 2014 1:29am Jul 8, 2014 1:29am
Quoting KiwiOz
Until all the merchants that accept bitcoin stop converting straight back to Fiat, I can't see any move North. Question is, how do you convince the merchants to hold on to & trade with Bitcoins.??
Hey KO,
not sure this is necessarily true as the more merchants accepting BTC the more BTC is bought and accumulated that werent before: if a person wants to spend btc, they buy the equivalent btc to what they will spend or more (never less). If they spend 99% of that btc, it's likely they'd keep 1% sitting in their btc wallet and not cash it out into fiat. If 99% of merchants keep 99% of the btc they receive, then thats 1% kept in btc in the customer's wallet + 1% of the merchants keeping 1% of their coins in btc that was never happening before. so there is a new hoarding system going on without really realizing it, probably because its quite small factor - but its one that didt exist before and the more ppl doing it the more is accumulated of course .
Maybe I'm wrong and many of the 'old' coins that were being mined and hoarded up until now are being spent and merchants are converting into fiat (which would out weigh my 1% thing above by a long shot), but ofc theres no way to tell right now without scouring the blockchain for weeks.

Having said that, there are companies that are paying wages in btc, and many more people making an effort to use btc so they all add up to new buyers hoarding 1% here and there. But youre right, until a large scale adoption comes along enticing merchants and others to hold BTC for new reasons, theres probably a larger scale cash out going on than ever that will keep the price stable for now... I'm still keeping my fingers crossed for the july cyclical rally however! we have a few weeks left
  • #4,239
  • Jul 8, 2014 2:15am Jul 8, 2014 2:15am
Quoting gjgjg
{quote} Hey KO, not sure this is necessarily true as the more merchants accepting BTC the more BTC is bought and accumulated that werent before: if a person wants to spend btc, they buy the equivalent btc to what they will spend or more (never less). If they spend 99% of that btc, it's likely they'd keep 1% sitting in their btc wallet and not cash it out into fiat. If 99% of merchants keep 99% of the btc they receive, then thats 1% kept in btc in the customer's wallet + 1% of the merchants keeping 1% of their coins in btc that was never happening...
Money Makes Money
  • #4,240
  • Jul 8, 2014 9:17pm Jul 8, 2014 9:17pm
Hey venzen Great article mate....cheers
http://www.cryptocoinsnews.com/news/...ure/2014/07/07
Money Makes Money
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