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Bitcoin technical analysis

  • #821
  • Dec 26, 2013 4:18pm Dec 26, 2013 4:18pm
Quoting Cowboy11
Just stay away.....................
stay away from bitcoin? that is why stops where invented.....but I'm short anyways, why should I stay out? is easier to trade than a lot other instruments, it follow the technical much better than any other pair.........the choco ema 30 in my entry....
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The Chonchy
  • #822
  • Dec 26, 2013 7:31pm Dec 26, 2013 7:31pm
Chonchy, do you seriously trade bitcoins ?? with real money ??
  • #823
  • Dec 26, 2013 8:26pm Dec 26, 2013 8:26pm
Quoting chonchy
{quote} stay away from bitcoin? that is why stops where invented.....but I'm short anyways, why should I stay out? is easier to trade than a lot other instruments, it follow the technical much better than any other pair.........the choco ema 30 in my entry.... {image}

morning chonchy!

I've just entered short as well - strong reversal back below the channel TL
cryptocurrency everytime
  • #824
  • Dec 26, 2013 8:45pm Dec 26, 2013 8:45pm
Quoting venzen
{quote} morning chonchy! I've just entered short as well - strong reversal back below the channel TL
Hello venzen how are things on that beautiful island of yours? my partial short is until we hit the choco ema 30, where I will add some more, I was afraid that the train was going to be leaving sooner, but it looks like it wants to hit that yellow line wish is good resistance me think........good luck to us in this short I'm not to happy with RSI in the middle like this but I think the choco ema will stop it for now.......

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The Chonchy
  • #825
  • Dec 26, 2013 10:54pm Dec 26, 2013 10:54pm
Quoting chonchy
........I think some people love this....... http://www.youtube.com/watch?v=toMRV...ature=youtu.be

love it
cryptocurrency everytime
  • #826
  • Dec 26, 2013 10:59pm Dec 26, 2013 10:59pm
Quoting chonchy
{quote} Hello venzen how are things on that beautiful island of yours? my partial short is until we hit the choco ema 30, where I will add some more, I was afraid that the train was going to be leaving sooner, but it looks like it wants to hit that yellow line wish is good resistance me think........good luck to us in this short I'm not to happy with RSI in the middle like this but I think the choco ema will stop it for now....... {image}

hi chonchy,

all is well, thank you.

I may have gotten in short too early... not sure what this PA is doing - on the M15 chart it does look like another push up must happen. The PA is not dropping as one would expect after a wave top... let's see, RSI at various TFs says this must go down soon... the only catch being if we are already in the new uptrend but that just doesn't seem likely right now...
cryptocurrency everytime
  • #827
  • Dec 26, 2013 11:12pm Dec 26, 2013 11:12pm
Where two well-respected TLs make an intersection (yellow circle) there is often a reaction in PA - e.g. a change in trend.

If the top of wave 5 is extrapolated at the red zone in the top righthand corner then we can expect a turn down sometime tomorrow and now could be a long opportunity. If PA bounces off the upper red TL and remains in the blue channel, I'm going to reverse position to long. But a break below 780 now and I'm staying short.

http://ubuntuone.com/0PjFd49DE0iPIU1IntZUGy
cryptocurrency everytime
  • #828
  • Dec 26, 2013 11:22pm Dec 26, 2013 11:22pm
Quoting chonchy
........I think some people love this....... http://www.youtube.com/watch?v=toMRV...ature=youtu.be

the Fed : " This place is as federal as the FederalExpress" lol, that video was awesome
  • #829
  • Dec 26, 2013 11:30pm Dec 26, 2013 11:30pm
Quoting Capelli
{quote} the Fed : " This place is as federal as the FederalExpress" lol, that video was awesome

Capelli, i LOLed at the same thing!
cryptocurrency everytime
  • #830
  • Edited 1:03am Dec 27, 2013 12:21am | Edited 1:03am
Quoting Cowboy11
Just stay away.....................
cowboy, you mean stay away when it is going up or when it's going down?
don't let the media think for you - think for yourself and you'll see this instrument
has been outperforming most currencies and commodities in terms of long and short
opportunities for many months. in this game, if you don't think with an independent
mind and analyse clear objective reality, you'll end up spending a lot of time at
the thread "5 reasons why traders lose"

Think twice before coming here and displaying your ignorance to a group of experienced traders who obviously see what you cannot. You don't know what you don't know, so feel free to ask questions.

is that you talking bad-mind in the picture or are you the one listening to some crack-pot journalists out there?

http://ubuntuone.com/3Zr1TWcYKkuCRHNXXZaT3A
cryptocurrency everytime
  • #831
  • Dec 27, 2013 11:05am Dec 27, 2013 11:05am
Quoting Yuri57
Sorry, but I don't understand your optimism. After an instrument rips off 80% of the investors only the fanatic still believe it would go up again. If it's a textbooks play, sell at 50% backtest and don't look back.

Yuri, do you understand better now? or you still don't get it? Its not about instruments ripping off "investors" - it's about traders taking long and short positions. you are a trader aren't you?
cryptocurrency everytime
  • #832
  • Dec 27, 2013 11:07am Dec 27, 2013 11:07am
Quoting Tsar
If This Doesn’t Kill Bitcoin, What Will? By Mark Gimein | Oct. 2, 2013 3:28 PM EDT | {image} The alleged operator of the Bitcoin-based online marketplace Silk Road was arrested in San Francisco yesterday on money-laundering and narcotics-trafficking charges.
Indeed, what will...
cryptocurrency everytime
  • #833
  • Dec 27, 2013 11:11am Dec 27, 2013 11:11am
Quoting Bruce Flea
Bitcoins = 21st century tulips...

twice in a row (long and short side of the trade) - you reckon there's a 3rd tulip-run in the Coin?
cryptocurrency everytime
  • #834
  • Dec 27, 2013 11:27am Dec 27, 2013 11:27am
btc/usd
btc/gbp
btc/eur
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Trading is Methodical - Markets are Emotional
  • #835
  • Dec 27, 2013 11:41am Dec 27, 2013 11:41am
In case you are interested.....

http://www.elliottwave.com/freeupdat...-Currency.aspx
  • #836
  • Dec 27, 2013 11:50am Dec 27, 2013 11:50am
h8 / d1 outlook

btc/usd
btc/gbp
btc/eur
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Trading is Methodical - Markets are Emotional
  • #837
  • Dec 27, 2013 11:56am Dec 27, 2013 11:56am
http://www.zerohedge.com/contributed...its-not-bubble


Bitcoin for Big Dummies: Why The Digital Currency Is Spiking & Why It's Not A Bubble
  • #838
  • Dec 27, 2013 9:53pm Dec 27, 2013 9:53pm
Quoting venzen
{quote} hi chonchy, all is well, thank you. I may have gotten in short too early... not sure what this PA is doing - on the M15 chart it does look like another push up must happen. The PA is not dropping as one would expect after a wave top... let's see, RSI at various TFs says this must go down soon... the only catch being if we are already in the new uptrend but that just doesn't seem likely right now...
....Agree 100% with your analogy venzen, it should make another wave up in the smaller time frames, and I believe people is too susceptible to the news and the may heart the technical but not change what you are seeing on the charts, upper trend line is there, choco ema 30 is there, yellow horizontal line is there, and very important horizontal trend line, if it take it, then all bets are off and it means up, but if it bounce there, your short is ok, also there may be stop hunting remember who is on the other side of the thread
want also to win, and is playing against you with more money than you, so follow the money and also remember we are in the middle of no where, is time to hit and run only, not to hold on to any trade, hit an run, hit and run........good luck, and don't pay attention to the nay Sayers, this is a scalping thread not an investing thread or a buy and hold thread, we just hit an run here, up and down, and we love it, for us bitcoin is not a discussion is a way of living, is an instrument for trading that respect all laws, until now, I don't drought they mess it up also in the future, but as of now, I see the price stuck bet wing the blue ema 5 and the choco ema 30, watch when it breaks out of there and follow the money with proper money management and proper stop, that is all........is bet wing a rock and a hard place.......good luck to all, and always remember to buy when is blood on the streets and sale at the sound of the trumpets.......

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The Chonchy
  • #839
  • Dec 27, 2013 10:10pm Dec 27, 2013 10:10pm
the choco ema 30 is my short trade and I'm long here with a tight stop.....hit and run......a spike to the yellow horizontal line is not out of the question me think.......so 700 to 825 is not a bad trade......

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The Chonchy
  • #840
  • Dec 28, 2013 6:13am Dec 28, 2013 6:13am
Quoting chonchy
the choco ema 30 is my short trade and I'm long here with a tight stop.....hit and run......a spike to the yellow horizontal line is not out of the question me think.......so 700 to 825 is not a bad trade...... {image}

Sure, this looks like the target near 800-825.

BTW - with BTC-e i accidentally opened a long position (while holding a short) and it gave it to me with no additional margin requirement. Not sure if this is a glitch or not but I am happy to be able to hedge positions like this - exactly for the situation now: I'm in short from 700 (BTCe) but I know there's another $50-$100 upside, so I can take both.
cryptocurrency everytime
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