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Bitcoin technical analysis

  • #1,101
  • Jan 7, 2014 2:43am Jan 7, 2014 2:43am
Quoting Ozes
{quote} Chonchy, sorry to hear about your wife . Stones are not fun. We are with you bro Great vid Venzen
...Thanks a lot Ozes, when I get back home I will show you a simple but powerful system that you are going to love, meanwhile read here and make notes so I can answer them over the weekend......

http://www.forexfactory.com/showthread.php?t=106165

also this is good and simple http://www.forexfactory.com/showthread.php?t=14753
The Chonchy
  • #1,102
  • Jan 7, 2014 3:47am Jan 7, 2014 3:47am
Quoting chonchy
{quote} ...Thanks a lot Ozes, when I get back home I will show you a simple but powerful system that you are going to love, meanwhile read here and make notes so I can answer them over the weekend...... http://www.forexfactory.com/showthread.php?t=106165 also this is good and simple http://www.forexfactory.com/showthread.php?t=14753

hey! Ozes is fortunate to get some veteran guidance!

but, teacher, make sure he passes all his tests at babypips.com. We don't want this glorious thread to produce intern traders who don't know the business inside out!
cryptocurrency everytime
  • #1,103
  • Edited 5:39am Jan 7, 2014 4:50am | Edited 5:39am
Alternate Coins and services

People, I just want point out some alternative coins and services out there:

The first is Coins-e which seems related to BTC-e but I'm not sure. The site offers you the ability to send, receive and exchange a variety of cryptocurrencies to and from your Coins-e account. So you can for instance send Bitcoin to your Coins-e account and trade them for Litecoin. Somebody on the Bitcoin Forums offered me some free Dogecoins, so, not having a Dogecoin wallet, I gave them my Coins-e address and they sent me some free Doges. Much cool! So it's like a multicoin wallet in a way. Everything can be exchanged and arbitrated from Americancoin to Zetacoin. https://www.coins-e.com

Ripple. https://ripple.com Ripple aims to provide a means of sending and receiving fiat and cryptocurrency between different parties via a trust-line agreement. Their currency XRP is worthless but is the means of exchange. And they have Ripple Gateway partners that allow you to get fiat into and out of the cryptocurrency network. I have not used their service or partners and it seems a little confusing with this third medium of exchange XRP in the mix. And you have to have so much XRP to activate your account and so much to transact, etc etc. But there may be some brilliant purpose to it that I cannot see. There had been a "scam" warning about Ripple which has by now been disproved: http://bitcoin.stackexchange.com/que...-ripple-a-scam

Of all the alt coins, I think Zerocoin and Datacoin (thanks lady_luck) have the most going for them. Basically Zerocoin is a proposed add-on to the Bitcoin network that makes it truly anonymous. The coins have no value but represent an anonymous swarm that prevent smooping of a Bitcoin's origin and destination. I myself am not really interested in making anonymous payment because my only vice is smoking good quality tobacco and if I need intoxication, Mother Earth allows me to grow herbs free of charge and above the laws of government men. But there are cases where absolute privacy is required and I think Zerocoin will have a role to play in the future. http://zerocoin.org/index

http://datacoin.info/theme/Simplebee...ges/rocket.png
Datacoin is a proposed carrier of information whereby data is stored in the blockchain. This is a great idea and akin to cloud storage since whatever data is committed to the blockchain is distributed throughout the P2P network. This seems like something the Resistance (from Terminator) and the Zion Alliance (from the Matrix) or the Rebellion in Star Wars would use for instantaneous data distribution that cannot be erased. Erm, not that I work for them or know where they are based, Your Honour. http://datacoin.info

warning: strong language!
Inserted Video

Namecoin, is another contender and those of you dealing with BTC-e would have seen it being actively traded there. I do not like to pass judgement or use strong language, but excuse for a second: Namecoin is a piece of crap. The idea is a typical do-good sentiment: "Help the poor oppressed Chinese to get anonymous messages out via a dynamic DNS cloud that prevents their evil Commie government from tracking them." Okaaay... so Namecoin is the anonymous DNS cloud... and Namecoin is being floated on the exchanges by its creators, which means those poor abused Celestials must buy Namecoin at market price before they can call Team America. Good idea! For the dustbin of history...

cryptocurrency everytime
  • #1,104
  • Jan 7, 2014 4:52am Jan 7, 2014 4:52am
Quoting chonchy
{quote} ...Thanks a lot Ozes, when I get back home I will show you a simple but powerful system that you are going to love, meanwhile read here and make notes so I can answer them over the weekend...... http://www.forexfactory.com/showthread.php?t=106165 also this is good and simple http://www.forexfactory.com/showthread.php?t=14753
Awesome! I cant wait! Now back to babypips!
  • #1,105
  • Jan 7, 2014 5:02am Jan 7, 2014 5:02am
BTCUSD (BTC-e) 5min

I'm not sure what's going on here but it doesn't give me a warm fuzzy feeling...

http://ubuntuone.com/19w54VynNJgvuaycVl3aAo
cryptocurrency everytime
  • #1,106
  • Jan 7, 2014 5:07am Jan 7, 2014 5:07am
Quoting venzen
BTCUSD (BTC-e) 5min I'm not sure what's going on here but it doesn't give me a warm fuzzy feeling... {image}
hey bro where is this chart from which site?
  • #1,107
  • Edited 5:34am Jan 7, 2014 5:10am | Edited 5:34am
Good morning,

First, a warm welcome to the newcomers and some well-wishes to Chonchy and his wife.

Hmm with morning eyes, I confused your M5 with a daily chart, yeah, if 890 breaks, there is nothing to stop it before 790. (btc e price). But it looks a bit better on gox.
EDIT : after a second look on H1 and H4 mtgox definitely look like it could only go up, macd looking ok and stock RSI looking good, potential sma 20/50 crossing on H1, and 4h sma 20 seems to still support the price, i dont see how i could retrace from here and touch the down-channel in a wave 4 of 5, so I'll stick with it being a wave iv of 3, but all the other exchanges contradict that

edit 2 : actually china doesn't look so bad either, and correction 880 seems like a more significant support to watch on btc-e, more than 890
  • #1,108
  • Jan 7, 2014 5:51am Jan 7, 2014 5:51am
Quoting lady_luck
Good morning, First, a warm welcome to the newcomers and some well-wishes to Chonchy and his wife. Hmm with morning eyes, I confused your M5 with a daily chart, yeah, if 890 breaks, there is nothing to stop it before 790. (btc e price). But it looks a bit better on gox. EDIT : after a second look on H1 and H4 mtgox definitely look like it could only go up, macd looking ok and stock RSI looking good, potential sma 20/50 crossing on H1, and 4h sma 20 seems to still support the price, i dont see how i could retrace from here and touch the down-channel...

hi lady_luck,

well good morning. i am also anticipating upside from here - strange wave 4 - to me it's uncountable... but the indicators from Daily to M5 point up and MACD demands a divergence for the current wave to end. I've cut some hedges down here at 900 so i hope to take profit at the wave top and then fall into profit on the way down...
cryptocurrency everytime
  • #1,109
  • Jan 7, 2014 6:12am Jan 7, 2014 6:12am
Quoting venzen
{quote} hi lady_luck, well good morning. i am also anticipating upside from here - strange wave 4 - to me it's uncountable... but the indicators from Daily to M5 point up and MACD demands a divergence for the current wave to end. I've cut some hedges down here at 900 so i hope to take profit at the wave top and then fall into profit on the way down...
Strange, can't manage to get btc-e charts on trading view today... Oh well...
Slightly different picture on gox and china tho : B could be (2) of C on those, which would a slightly bigger retracement (magnitude similar to what Kiwioz mentioned).
A bit strange, EW says up on every exchange but mtgox when opposite, all other indicators says down everywhere except on mtgox.

http://i.imgur.com/Hgp4NwQ.png
  • #1,110
  • Jan 7, 2014 6:14am Jan 7, 2014 6:14am
Datacoin currrently acknowledge that they can only fit 128KB worth of data (lenght of a short email) in the blockchain per coin transaction so i asked them why that limitation? and if it will be increased. Here's the response from https://github.com/foo1inge/datacoin-browser/issues/1

http://ubuntuone.com/4CFVYGv4ZLY7yESvWIB4ef
cryptocurrency everytime
  • #1,111
  • Jan 7, 2014 6:22am Jan 7, 2014 6:22am
Quoting venzen
Datacoin currrently acknowledge that they can only fit 128KB worth of data (lenght of a short email) in the blockchain per coin transaction so i asked them why that limitation? and if it will be increased. Here's the response from https://github.com/foo1inge/datacoin-browser/issues/1 {image}
I think it make sens to me, since you can always break a bigger file into multiple .rar files, then you have to buy/send more coins to store your bigger file.
So, what I see there is ; small data limit, so bigger data has to be divided in order to force more transaction and consequently drive the value higher.
  • #1,112
  • Jan 7, 2014 6:22am Jan 7, 2014 6:22am
Quoting lady_luck
{quote} Strange, can't manage to get btc-e charts on trading view today... Oh well... Slightly different picture on gox and china tho : B could be (2) of C on those, which would a slightly bigger retracement (magnitude similar to what Kiwioz mentioned). A bit strange, EW says up on every exchange but mtgox when opposite, all other indicators says down everywhere except on mtgox. {image}

that count looks good - no other way to label it that i can see...

I'm surprised at the sudden loss of appetite for upside... maybe these levels are parity for now - 1000 on MtGox and 900 for BTC-e and Bitstamp, 5500 for BTC China. I mean, that was a formidable wave up - very impressive - I guess everyone needs a rest!
cryptocurrency everytime
  • #1,113
  • Jan 7, 2014 6:28am Jan 7, 2014 6:28am
Quoting lady_luck
{quote} I think it make sens to me, since you can always break a bigger file into multiple .rar files, then you have to buy/send more coins to store your bigger file. So, what I see there is ; small data limit, so bigger data has to be divided in order to force more transaction and consequently drive the value higher.

Could be... clever plan... i see DTC is currently priced at 0.0005BTC on Coins-e and LTC = 0.03

I've considered buying some alt coins for speculation but there is just nothing to go by... which one? how much is fair value given that BTC is going to rise on actual market demand? buy now or later? .... when it comes to the moment i always end up just putting my BTC in my BTC-e account to trade with!
cryptocurrency everytime
  • #1,114
  • Jan 7, 2014 6:45am Jan 7, 2014 6:45am
Quoting venzen
{quote} Could be... clever plan... i see DTC is currently priced at 0.0005BTC on Coins-e and LTC = 0.03 I've considered buying some alt coins for speculation but there is just nothing to go by... which one? how much is fair value given that BTC is going to rise on actual market demand? buy now or later? .... when it comes to the moment i always end up just putting my BTC in my BTC-e account to trade with!
I usually don't like sharing when or what I actually buy or sell, mostly because I kinda try to limit my number of trade to a minimum, and also because it always leaves the impression of trying to influence the price.
But, if I can share that one without falling in those category, i usually get into Ltc when I missed a wave on BTC.
As for when to buy other alt coin I usually wait for them to have a steady rise to at least 50c. But i don't like to split my focus, that's how I make the more mistakes and start to expect contradicting outcome.
But, now that I think back, in the last year I ironically made way more profit with LTC than I did with btc...
And, if we are only talking potential profit, Ltc looks better than btc right now. Even a potential way to increase your btc stock. To me Ltc/btc chart still look like it should reach 0.037 before any significant downside of each pair against usd.
  • #1,115
  • Jan 7, 2014 8:33am Jan 7, 2014 8:33am
Quoting lady_luck
{quote} I usually don't like sharing when or what I actually buy or sell, mostly because I kinda try to limit my number of trade to a minimum, and also because it always leaves the impression of trying to influence the price. But, if I can share that one without falling in those category, i usually get into Ltc when I missed a wave on BTC. As for when to buy other alt coin I usually wait for them to have a steady rise to at least 50c. But i don't like to split my focus, that's how I make the more mistakes and start to expect contradicting outcome....

thanks for sharing that despite your reluctance, lady_luck.

I actually wish you said something before because it's just something that never crossed my mind: to tarde BTC and LTC (or whatever) in tandem. But maybe it's best I didn't do anything until now because since July my BTC trading has been very much like watching a Mr Bean movie. I've not lost on trades but I have missed out on a lot of profit by expecting too much retracement and not letting trades run with the trend (which mostly extends)

I'm going to have a look at LTC right now...
cryptocurrency everytime
  • #1,116
  • Jan 7, 2014 9:04am Jan 7, 2014 9:04am
One important thing to keep in mind about Ltc is that it's still highly easy to manipulate, for exemple, most of the time 100btc is enough to pin it down. '
The great thing is that all together it follows btc moves, with lag or anticipation but it always does, for example at the moment it's behind.
  • #1,117
  • Jan 7, 2014 9:11am Jan 7, 2014 9:11am
Quoting lady_luck
One important thing to keep in mind about Ltc is that it's still highly easy to manipulate, for exemple, most of the time 100btc is enough to pin it down. ' The great thing is that all together it follows btc moves, with lag or anticipation but it always does, for example at the moment it's behind.

i see.
where do you get charts for LTC? BTC-e charts are not helpful and tradingview doesn't show me a feed.
cryptocurrency everytime
  • #1,118
  • Jan 7, 2014 9:17am Jan 7, 2014 9:17am
Quoting venzen
{quote} i see. where do you get charts for LTC? BTC-e charts are not helpful and tradingview doesn't show me a feed.
Tradingview should work, just open a new chart, use the box at the top left hand corner, and instead of btcusd write down ltcusd or ltcbtc and press enter
  • #1,119
  • Jan 7, 2014 9:27am Jan 7, 2014 9:27am
Quoting venzen
{quote} i see. where do you get charts for LTC? BTC-e charts are not helpful and tradingview doesn't show me a feed.
Btc-e MT4 have all the Ltc & Btc pairs.
I think I have solved the MT4 with Btc problems. I was trying out some EAs & they were not compatible with Btc. Probably because of the ever changing spreads. Seems ok now I have removed them.
Money Makes Money
  • #1,120
  • Jan 7, 2014 9:58am Jan 7, 2014 9:58am
Quoting lady_luck
{quote} Tradingview should work, just open a new chart, use the box at the top left hand corner, and instead of btcusd write down ltcusd or ltcbtc and press enter
yip, it worked! thank you
cryptocurrency everytime
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