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Bitcoin technical analysis

  • #6,361
  • Feb 10, 2018 2:57pm Feb 10, 2018 2:57pm
The Number fact is that bitcoin has no monopoly on blockchain technology.
Blockchain technology is free
The bitcoin price is based on manipulation and the bigger fool. It has nothing to do with its utility.
Bitcoin's attraction is that the manipulators promises the fools that they can be rich without working hard, without being enterprising, without being smart or needing any education.

If you own bitcoin you have been manipulated.

You came here for the truth and let me unveil it for you
  • #6,362
  • Feb 10, 2018 4:15pm Feb 10, 2018 4:15pm
My brother has 4 bitcoins, but he lost their password... He mined them when bitcoin was around $200-250. At that time he proposed we buy like 100-150 bitcoins, but I refused... which was stunningly stupid decision at my end and now I really feel sorry about it. He always seem to know where the easy money is. "Work smart, not hard" is one of his favourite quotes...
Maadik Hugiis. IQ 69.
  • #6,363
  • Feb 10, 2018 6:01pm Feb 10, 2018 6:01pm
Quoting RondaRousey
The Number fact is that bitcoin has no monopoly on blockchain technology. Blockchain technology is free The bitcoin price is based on manipulation and the bigger fool. It has nothing to do with its utility. Bitcoin's attraction is that the manipulators promises the fools that they can be rich without working hard, without being enterprising, without being smart or needing any education. If you own bitcoin you have been manipulated.
I started to buy Bitcoins too late, spring 2016, at a price $4xx - $6xx and stopped early 2017 at $1100. Sold ~70% in 13500 - 18500 area. Keep and transferred to other cryptos the rest.
I like to be manipulated this way
  • #6,364
  • Feb 11, 2018 2:21am Feb 11, 2018 2:21am
Venzen tried to get me into Bitcoins back in 2013, i had no interest then, as now... how much were they back then again, remind me.... no actually, don't?!!!)
GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
  • #6,365
  • Feb 11, 2018 2:26am Feb 11, 2018 2:26am
Quoting The Cableguy
I love reading everyone trying to predict the bottom. This is why crashes do so much damage, people try to call it after a new high has been reached. Buy at $9k and see what happens. Guys, we haven't had the death plunge yet. The market wont recover until it scares the shit out of everyone...
Imagine the reverse , if you shorted from 18500 . The ones makIng the money are the sellers. what is the real value of a Bitcoin ?
  • #6,366
  • Feb 11, 2018 6:40am Feb 11, 2018 6:40am
"Little" resistence break up, omg, long. Every -5% daily, just start pyramiding long now...sh*t. :-)

Double max.First tg.

In o out.
  • #6,367
  • Feb 12, 2018 3:14am Feb 12, 2018 3:14am
Hourly = Bullish

Strong resistance = 8500
Stop lost = 8100



Attached Image (click to enlarge)
Click to Enlarge Name: _BTCUSDH1.png Size: 110 KB
KISS&V :Keep it simple safe & visual
  • #6,368
  • Feb 12, 2018 5:27am Feb 12, 2018 5:27am
Quoting The Cableguy
Venzen tried to get me into Bitcoins back in 2013, i had no interest then, as now... how much were they back then again, remind me.... no actually, don't?!!!)
Waiting for Venzen prediction here, he s the most accurate here
@Venzen, are you still here, or another trip caravane ?
  • #6,369
  • Edited 12:55am Feb 13, 2018 12:28am | Edited 12:55am
Hi to Cableguy, tostaky06 and all,

Thanks for the praises tostaky06! I must admit that without a hard-and-fast method in place my trading very much resembles "Mr Bean goes to Market".

Unfortunately I cannot show much technical justification in this 1day chart, but I indicate significant levels.

If you look at the 1week chart (the attached chart is 1day) you will notice MACD has crossed below its signal line. This is bearish for the long-term. Within this bearish scenario (for 2018, at least) we expect the market to test that upper TL near $12k. The coming days/weeks would be a good opportunity.

Another likely upside target is $18,600 where a long-term Fib extension line serves as an "attractor". If the bulls become delusional, as they are prone to do, then they could easily trade to near the ATH in a B-wave before the devastation of wave C takes this decline to its destined target at $2,000.

In my view, decline below $2k would be difficult to sustain. Too many true believers, including yours truly, have buy orders down there. Additionally, $2k represents a Fib 0.89 retracement of the entire price history since $5, so that is a structural limit to how low this can go.

If it goes lower, well, I have a buy order for all bitcoin in existence at $0.01, so I wouldn't shed a tear if this order gets triggered!

Bitstamp 1-day candle chart

Attached Image (click to enlarge)
Click to Enlarge Name: Selection_20180213_001.png Size: 184 KB
cryptocurrency everytime
  • #6,370
  • Feb 13, 2018 12:39am Feb 13, 2018 12:39am
Quoting RondaRousey
The Number fact is that bitcoin has no monopoly on blockchain technology. Blockchain technology is free The bitcoin price is based on manipulation and the bigger fool. It has nothing to do with its utility. Bitcoin's attraction is that the manipulators promises the fools that they can be rich without working hard, without being enterprising, without being smart or needing any education. If you own bitcoin you have been manipulated.
RondaRousey, Why pee in the drinking water? We are all traders trying our best to profit from the price swings, right? Now you choose to be the Moaning Minnie in the group and what for? This isn't a fanboy site, its a trading forum. Please don't make me use the ban button FF gave me for this forum. The FF moderators won't disagree with my decision. Contribute constructively won't ya?
cryptocurrency everytime
  • #6,371
  • Feb 13, 2018 12:52am Feb 13, 2018 12:52am
Quoting Pip-Miner
{quote} Imagine the reverse , if you shorted from 18500 . The ones makIng the money are the sellers. what is the real value of a Bitcoin ?
As the folk saying goes: "Don't confuse value with price"

The value of Bitcoin is censorship-resistance, permissionless transactions and a solution to the dilemma of digital double-spending. As long as governments practice KYC/AML and a war on cash, Bitcoin will remain useful and valuable. As more and more users purchase bitcoin and sustain its speculation market, the higher its price can be bid. Of course, over multiple cycles of advance and decline.

If governments and centralized authorities pervasively adopted Bitcoin, then it would imply they have abandoned anti-money laundering policies and the associated KYC/AML. At that moment, Bitcoin would lose all utility and value.
cryptocurrency everytime
  • #6,372
  • Feb 13, 2018 1:39am Feb 13, 2018 1:39am
The Bitcoin chart with the same time frame as in post #6269 from venzen.
I prefer the W%R indicator which made Larry Williams to a millionaire.

Sixer
Attached Image (click to enlarge)
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  • #6,373
  • Edited 4:07am Feb 13, 2018 3:55am | Edited 4:07am
Quoting Sixer
The Bitcoin chart with the same time frame as in post #6269 from venzen. I prefer the W%R indicator which made Larry Williams to a millionaire. Sixer {image}
Hi sixer,

Not sure what that millionaire city-slicker indicator is saying but judging by social mood and the growing resentment against Bitcoin, even a move back to $20k will soon return below $10k. The eventual bottom is below the cost of mining production and $2,000 in my view. As much as bitcoin speculators go too far to the upside - they tend to over-sell when social mood turns negative. The bear is an irritable and destructive animal spirit.

When the mainstream media has stopped talking about Bitcoin and your relatives have forgotten about it - that'll be the bottom!
cryptocurrency everytime
  • #6,374
  • Feb 13, 2018 6:07am Feb 13, 2018 6:07am
Quoting venzen
{quote} RondaRousey, Why pee in the drinking water? We are all traders...
You do not get it. Ronda is super funny. (S)he is one of my favourites here at FF!:-)

Try to see the funny part of RR's posts. There is a lot of it...:-)
Maadik Hugiis. IQ 69.
  • #6,375
  • Feb 13, 2018 6:12am Feb 13, 2018 6:12am
Quoting RondaRousey
The Number fact is that bitcoin has no monopoly on blockchain technology. Blockchain technology is free The bitcoin price is based on manipulation and the bigger fool. It has nothing to do with its utility. Bitcoin's attraction is that the manipulators promises the fools that they can be rich without working hard, without being enterprising, without being smart or needing any education. If you own bitcoin you have been manipulated.
yep they want become billionaire in a second, all they hope is LUCKY
  • #6,376
  • Feb 13, 2018 6:44am Feb 13, 2018 6:44am
The value is in the NETWORK people! Bitcoin is a network of trust. Sure you can create your own blockchain, but if nobody uses it, it has zero value... Bitcoin is still the largest public ledger in the world with the biggest and most secure transaction history. There are thousands of other crypto's out there, but catching up with Bitcoin is tough due to network effects and it's first mover advantage.
I think we may see Ethereum pass Bitcoin by 2020 due to network effects, as the ecosystem surrounding Ethereum is very large and it will be hard for any other coin to compete now.
There may be better tech out there, maybe EOS or Cardano, but Ethereum is already very far ahead...
Remember that the TCP IP protocol won out in the internet battle, despite not being the best protocol available at the time...There are more factors at play!
  • #6,377
  • Feb 13, 2018 7:28am Feb 13, 2018 7:28am
Quoting MoneyZilla
{quote} You do not get it. Ronda is super funny. (S)he is one of my favourites here at FF!:-) Try to see the funny part of RR's posts. There is a lot of it...:-)
Is Ronda just a troll then? I wouldn't mind, but personally, I just don't find the posts very funny. Also, I worry that people may think (S)he is serious and lose a lot of money as a result of following advice. I mean if I had listened to their posts over the years, I would definitely have sold all my crypto and lost out on some large sums of money. Though it makes more sense that her account is some kind of troll/parody account- I thought she was serious!
  • #6,378
  • Feb 13, 2018 7:53am Feb 13, 2018 7:53am
Quoting copyrat
{quote} Is Ronda just a troll then?... Though it makes more sense that her account is some kind of troll/parody account- I thought she was serious!
Ronda always plays it safe. Announcing a position AFTER the movement is ALREADY there. Something like future in the past? So, no worries here.

I think you should look at Life's funny side. It makes life more easy... It works for me. My iq is just 75. It can work for everybody then... RRR! (RondaRousyRocks!) :-)
Maadik Hugiis. IQ 69.
  • #6,379
  • Feb 13, 2018 8:45am Feb 13, 2018 8:45am
Watch out this level..
Attached Image (click to enlarge)
Click to Enlarge Name: Btceur_Long.png Size: 34 KB
  • #6,380
  • Feb 13, 2018 9:21am Feb 13, 2018 9:21am
Bubbles, i'm out with this S@@T.

+3% in 2 months, R/R it's not for me = finish. Too vola.

Happy green.
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