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Bitcoin technical analysis

  • #5,301
  • Oct 15, 2017 9:37am Oct 15, 2017 9:37am
Quoting stylinex
{quote} How much did you short?.....
I think Flat to Cash is the best way to to play it that late in the move. The guy trying to short at 35 would find no liquidity with me !!

Bitcoin however,..... hasn't ran it's course yet. It's sitting at around 20-25 per monkey
  • #5,302
  • Oct 15, 2017 9:39am Oct 15, 2017 9:39am
Quoting Price
{quote} I think Flat to Cash is the best way to to play it that late in the move. The guy trying to short at 35 would find no liquidity with me !!
If it clears 6000 it could literally run to 8000
  • #5,303
  • Oct 15, 2017 10:51am Oct 15, 2017 10:51am
After reading all comments after presenting the charts in posts #5291, 5294, i come to the conclusion that you all missed the Bitcoin party.

That`s why, here is the outlook which was shown some monthes ago. It seems that it is still valid.

Sixer
Attached Image
  • #5,304
  • Oct 15, 2017 5:09pm Oct 15, 2017 5:09pm
Quoting priceaction1
ok some questions for all high IQ >120. Bitcoin persons. 1.What is blockchain? 2. did bitcoin is only the blockchain exist or one can create same or more efficient blockchain system? 3 why big players use bitcoin blockchain when they have other options available to them? more to come.
Here's my answer - last you'll get
1. get a life
2. no, yes
3 get a life


Quoting Price
{quote} I saw it as a limited, finite supply of monkeys - exhaustion of supply - an artificial run up in prices - classic pump and dump
Why bother replying about ignorant m..... and his monkey dream?
We know who's the monkey!! They go around crying "bu-bu-bubulaaaa".

Guys, friends, bitcoiners, smart people - don't waste time arguing with whining folks.

Now serious bitcoin - today's users are not that many.
I estimated this at 20-30 millions .
Some other agree.
Great!!!

Now, the people owning anything over say $3000 are quite limited (that sounds sad but true) at about 1-2 billion .
So today cryptocurrency is at maximum 3% adoption . Well that's the smartest part of the world. We are!!!

Maybe that's 10% of the world by income ... Don't know.

Now, to reach 70% - we expect between 7 and 25 times more investors .
With bitcoin supply not elastic .....say price up 75000 - 3000000.
not bad.
Other crypto will dilute that , so 50000-500000 is my maximum target . Say 5-15 years.

Agree??

And ofcourse - diversity!! Buy alt coins.
Beware of robber banks (RB), bad advisors.
  • #5,305
  • Oct 15, 2017 5:45pm Oct 15, 2017 5:45pm
Quoting Not-KPMG
{quote} Here's my answer - last you'll get 1. get a life 2. no, yes 3 get a life {quote} Why bother replying about ignorant m..... and his monkey dream? We know who's the monkey!! They go around crying "bu-bu-bubulaaaa". Guys, friends, bitcoiners, smart people - don't waste time arguing with whining folks. Now serious bitcoin - today's users are not that many. I estimated this at 20-30 millions . Some other agree. Great!!! Now, the people owning anything over say $3000 are quite limited (that sounds sad but true)...
you are not allowed don't you read IQ level >120 required to get into the game.
don't predict direction, but dance with flow of water
  • #5,306
  • Oct 15, 2017 10:58pm Oct 15, 2017 10:58pm
Quoting priceaction1
{quote} you are not allowed don't you read IQ level >120 required to get into the game.
Actually @Nicholeson answered your first question.

2.>2. did bitcoin is only the blockchain exist or one can create same or more efficient blockchain system?
Blockchain is a mathematical object, while Bitcoin is a cryptocurrecny based on blockchain. They are different things.
There plenty of other blockchains besides original Satoshi's one. Some of them are used as basis for other cryptocoins, e. g. Etherum, other are used in such applications as ride sharing, communications and messaging.
I you will be so kind to provide your definition of "efficiency", I will try to answer the second part of this question.

3 why big players use bitcoin blockchain when they have other options available to them?
more to come.
Again, not clear what do you mean by "big boys". But such companies as IBM understand the value and quality of software that works securely and reliably for almost ten years.

And a single question to you.
Do you know about such websites as google.com and wikipedia.org?
  • #5,307
  • Oct 16, 2017 1:04am Oct 16, 2017 1:04am
Quoting yg10
{quote} Actually @Nicholeson answered your first question. 2.>2. did bitcoin is only the blockchain exist or one can create same or more efficient blockchain system? Blockchain is a mathematical object, while Bitcoin is a cryptocurrecny based on blockchain. They are different things. There plenty of other blockchains besides original Satoshi's one. Some of them are used as basis for other cryptocoins, e. g. Etherum, other are used in such applications as ride sharing,...
is it "currency".
don't predict direction, but dance with flow of water
  • #5,308
  • Oct 16, 2017 8:41am Oct 16, 2017 8:41am
Russia wants in on it as well

Russia Plans 'CryptoRuble' Cryptocurrency: 'If We Don't Do it, Europe Will' - Newsweek
https://apple.news/ACWMd7jX8Rhy_6auFqjGS5A
  • #5,309
  • Oct 16, 2017 9:39pm Oct 16, 2017 9:39pm
Quoting priceaction1
{quote} is it "currency".
Is this statement or question?
  • #5,310
  • Oct 16, 2017 11:43pm Oct 16, 2017 11:43pm
The Bitcoin chart since 2012 - the last days are missed.

Sixer
Attached Image (click to enlarge)
Click to Enlarge Name: Bitcoin-LT-13.10.17.gif Size: 39 KB
  • #5,311
  • Oct 17, 2017 2:32am Oct 17, 2017 2:32am
i see venzen around here, what is your analyse ?
  • #5,312
  • Edited 3:20am Oct 17, 2017 2:34am | Edited 3:20am
Quoting priceaction1
{quote} is it "currency".
My VPN provider accepts Bitcoin payment, as does my ISP here in South East Asia. 7eleven in Indonesia accepts bitcoin. So, to these parties it is currency. Is it "currency" to some other entities, e.g. central banks? They say it is not, even while they plan to deploy their own cryptocurrency - cryptoFiat - which they believe to be currency because unlike Bitcoin it can be manipulated around the clock and its money supply inflated at will. It depends on one's definition of currency.

But while it serves as a currency to some, Bitcoin is also "commodity". It trades in the high seas of the open market (note, not "free" market) and is subject to unregulated speculation 24/7. This commodity should, therefore, remain valuable and useful as long as it remains secure - and its security is based on some of the most advanced cryptography known to computer science. A Bitcoin private key is a random quindecillion - that's all - and it's proof of work mechanism renders its blockchain immutable - censorship resistant - against the state.

If it were not for the state (government/judiciary/cenbank) then Bitcoin would not be needed. But while it remains necessary, it will serve as currency and super commodity. I'm not saying humanity does not need the state, I'm agreeing with the Cypherpunks that the state should not control money, nor should they be able to intrude on citizens' privacy. The misguided and corruptible officials of state cannot be allowed to devalue currency at will. I must have privacy when I want it. The state and its officials must not have privacy so we may freely citizen police them. Bitcoin is a cleverly conceived portal to both outcomes. A bloodless coup de'tat.

The "scam" and "ponzi" scheme accusation is natural if one does a shallow analysis. However, once one understands Bitcoin's Consensus mechanism, its true nature of decentralized, independent money becomes apparent.
cryptocurrency everytime
  • #5,313
  • Oct 17, 2017 2:45am Oct 17, 2017 2:45am
Quoting tostaky06
i see venzen around here, what is your analyse ?
Hi tostaky06,

Technical analysis implies highs at $6400 and $7500 - just plain fib extensions of previous waves during the past 2 years. Technically we could also expect a retest of $5000 before then, right?

Fundamentally, there is a coin-doubling rally pending as we approach the mid-November "segwit2x" hardfork.

I guess a large sell-off should follow that date. After that I don't know... I have a $12,000 fib extension target and a long-term fib retracement (0.618) low nearer $3000. It depends on what the chart technicals show by the end of November. Higher is better but leveraged shorts are more profitable
cryptocurrency everytime
  • #5,314
  • Edited 5:02am Oct 17, 2017 2:51am | Edited 5:02am
Quoting RondaRousey
{quote} LOL. share the spoils with strangers and noobs on the internet? Unsubscribed
For sure, RondaRousey, sharing does not detriment anyone.

Bitcoin itself is Open Source - shared freely for anyone to change or fork - and sharing market opportunities can only strengthen the participation and the price move. Nevermind the good karma, of benefiting others, the spiritual masters speak of.

That's how I see it, anyway. There is no big secret to making money in the bitcoin price chart: technically, it signals every major move clearly, as @chonchy showed me with his moving average analysis during the first few months of this thread's existence. If you were there, at that time, he would have shared it with you too.
cryptocurrency everytime
  • #5,315
  • Oct 17, 2017 6:54am Oct 17, 2017 6:54am
Quoting venzen
{quote} For sure, RondaRousey, sharing does not detriment anyone. Bitcoin itself is Open Source - shared freely for anyone to change or fork - and sharing market opportunities can only strengthen the participation and the price move. Nevermind the good karma, of benefiting others, the spiritual masters speak of. That's how I see it, anyway. There is no big secret to making money in the bitcoin price chart: technically, it signals every major move clearly, as @chonchy showed me with his moving average analysis during the first few months of this...
Ok thanks, hope we will see you more with the further action.
  • #5,316
  • Oct 17, 2017 7:23am Oct 17, 2017 7:23am
I never short at BTC but save this chart for understanding to the market.

https://file.army/i/EXX8Oe
  • #5,317
  • Oct 17, 2017 9:01am Oct 17, 2017 9:01am
Quoting kimmerya
I never short at BTC but save this chart for understanding to the market. https://file.army/i/EXX8Oe
kimmerya, that's good and all but you quote a stock chart idealized diagram. Bitcoin is not a stock, nor is its market regulated to conform to previously observed patterns. Don't look to authority. Trade this thing as it is.
cryptocurrency everytime
  • #5,318
  • Oct 17, 2017 9:06am Oct 17, 2017 9:06am
Quoting kimmerya
I never short at BTC but save this chart for understanding to the market. https://file.army/i/EXX8Oe
There are times any rational trader will short BTC because it covers distances of $100 and more in minutes. Which is lucrative, but if you short at the wrong moment it will destroy your account. It depends on your method. But remember - and don't forget - every commodity returns to its 200MA, at every timeframe, eventually
cryptocurrency everytime
  • #5,319
  • Oct 17, 2017 1:16pm Oct 17, 2017 1:16pm
It looks like Bitcoin is in a range for now. On the 4 hour it looks like a tripple top so I'm cautious to take longs but look at the lower time frames when price has reached support or resistance on the bigger timeframes it helps to manage risk and find ok RRR trades
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  • #5,320
  • Oct 18, 2017 3:11am Oct 18, 2017 3:11am
Are you guys buying this dip?
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