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Bitcoin technical analysis

  • #841
  • Dec 28, 2013 3:04pm Dec 28, 2013 3:04pm
Quoting venzen
{quote} 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.

I think with this low moving market anything you do from 700 to 800 is good venzen...

it bounce here at the 690 back up, I'm long still since yesterday, looking for 800 or 825, let see......

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The Chonchy
  • #842
  • Edited 4:26pm Dec 28, 2013 3:18pm | Edited 4:26pm
Quoting Capelli
Chonchy, do you seriously trade bitcoins ?? with real money ??
No, I don't trade bitcoins with real money......I trade bitcoins with fiat money (dollars ) what are you trading them with? who cares? oh yeah maybe you.....

capelli from Canada, you must be Italian from the mafia people, capelliny family......
The Chonchy
  • #843
  • Edited 4:23pm Dec 28, 2013 3:33pm | Edited 4:23pm
think twice is just another day for you and me in paradise.......
The Chonchy
  • #844
  • Dec 28, 2013 4:30pm Dec 28, 2013 4:30pm
Happy new year to all........especialy for you venzen, lady luck, smartypants, catcher777, infinitus, xtrade, kiwiOz and all who frequent this thread, aristotel,even you capelliny, yeah you, have a good 2014........
The Chonchy
  • #845
  • Dec 28, 2013 4:38pm Dec 28, 2013 4:38pm
.....Venzen this is for you......

http://upload.wikimedia.org/wikipedi.../Port_wine.jpg
The Chonchy
  • #846
  • Dec 28, 2013 7:53pm Dec 28, 2013 7:53pm
Quoting chonchy
.....Venzen this is for you...... {image}

for me?! Why... it looks like Habana Club Reserva Especial! thank you chonchy!! How did you know it's my favourite?!

Wow, this thread is the best...
cryptocurrency everytime
  • #847
  • Dec 28, 2013 9:33pm Dec 28, 2013 9:33pm
Quoting chonchy
{quote} oh I see what you mean by the spread, the spread bet wing the buy and ask, yes you have to be careful don't buy or sale with those spreads, that is why limit orders on BTC-e are good and I don't have my MT4 platform tradable yet......at the time of the drop some news must to come out and cause the panic, so many orders come in at the same time and then the spread increase but yes is too much.......
Hi all. Screen from my demo account.
Because he was very variable spread, my 13 trades from 32 trades open beyond realistic prices. I use limit or stop pending orders.
If it happened also on a real account, it would not be good.
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If you think you can do a thing or think you can't do a thing, you're right
  • #848
  • Dec 28, 2013 9:50pm Dec 28, 2013 9:50pm
Well, recent news is sure showing a great dislocation of opinion about Bitcoin. A few months ago most people outside the tech community would just laugh about Bitcoin and say "Tulips". The mainstream media was framing it as an enabler of money laundering, child pornography and the drugs and Darkweb currency. Now Bitcoin is the mainstream media darling with Barons, Forbes, Time, CNN, CNBC, Fox, The Economist, Google even Mastercard(!) singing its praises. Startups to consolidate Bitcoin as a viable payment option (by addressing price fluctuation and ease of payment) are being venture funded (Coinbase, Bitpay, etc) and the latest, Circle Internet Financial (http://www.zerohedge.com/news/2013-1...director-joins) has board members coming over from Goldman Sachs, Cisco and Walmart.

On the other side of the fence are more and more vocal opponents (the whining and calls for "Tulips" is fading). The obvious strategy whereby the banks and large corporates (and therefore the US govt) are seeking to co-opt Bitcoin, is causing some distress amongst the Doomsayers and Gold Bugs who are interpreting developments around Bitcoin as the next phase of a NWO plan to impose a global currency that is Energy reliant and monitored (and controlled) centrally. Well, there are some Bitcoin historical and technical facts being overlooked by such arguments but it is in the realm of possibility for someone who has 51% control of the blockchain to usurp control over the cryptocurrency. And so the battle lines will be drawn!
http://www.globalresearch.ca/will-di...rrency/5361021
cryptocurrency everytime
  • #849
  • Dec 29, 2013 12:08pm Dec 29, 2013 12:08pm
Hello
Thank you Chonchy, Best wishes for you too and Venzen and everybody else

Have been away and busy the last couple of days, and I'm a bit surprise by the PA.
Looks like some triangle within a larger diagonal, so may be wave iv of c of 4 of II (this is getting longer and longer) ?
  • #850
  • Dec 29, 2013 6:19pm Dec 29, 2013 6:19pm
Quoting venzen
Well, recent news is sure showing a great dislocation of opinion about Bitcoin. A few months ago most people outside the tech community would just laugh about Bitcoin and say "Tulips". The mainstream media was framing it as an enabler of money laundering, child pornography and the drugs and Darkweb currency. Now Bitcoin is the mainstream media darling with Barons, Forbes, Time, CNN, CNBC, Fox, The Economist, Google even Mastercard(!) singing its praises. Startups to consolidate Bitcoin as a viable payment option (by addressing price fluctuation...
I think like this guy...
Bitcoin is a phenomenom that needs urgent study.

My best understanding of it (and, again, I am an outsider and a beginner) leads me to think that the apparently open-source nature of the software and the network may mean it is sturdy and can be thoroughly studied by those who are very adept.

My knowledge of the math and encryption behind BTC is superficial. But, there are almost surely many more smarter brains available to thoroughly examine BTC's architecture and any likely weaknesses.
The Chonchy
  • #851
  • Dec 29, 2013 6:24pm Dec 29, 2013 6:24pm
Quoting lady_luck
Hello Thank you Chonchy, Best wishes for you too and Venzen and everybody else Have been away and busy the last couple of days, and I'm a bit surprise by the PA. Looks like some triangle within a larger diagonal, so may be wave iv of c of 4 of II (this is getting longer and longer) ?

Thanks lady_luck, good analysis, I'm long to the choco line, lol it sounds like an icecream......with a stop below the blue line 10 points where I should go long...if I see a good set up on the lower time frames
The Chonchy
  • #852
  • Edited 6:58am Dec 30, 2013 2:58am | Edited 6:58am
BTCUSD (BTC-e) H1

hi all, so we got a triangle afterall! only it's for a D wave and not a wave 4 - i think its too big compared to the preceding wave to be a 4th wave - whether i'm right or wrong - the target seems obvious - that's chonchy's chocolate cash-in up there.

The decline is going to be interesting by the look of things... it seems everyone is waiting for Bitcoin to start it's big rally but no-one is prepared to start buying yet. So i think we're going to get a truncated wave down because the buying excitement is just not going to allow it to drop too far - for now i'd put a downside target still at 373.

edit: $373 would not be "truncation" so i'd say $450 could see a reaction to the upside - it's all about how many waves manifest on the way down: whether we get three or five will reveal further intentions.

http://ubuntuone.com/5T8x8VLjrQ2f2CWuHBbEwI
cryptocurrency everytime
  • #853
  • Dec 30, 2013 7:58am Dec 30, 2013 7:58am
i remember KiwiOz predicted the current target near 900 (MtGox) a few weeks ago:
http://www.forexfactory.com/showthre...98#post7171398
cryptocurrency everytime
  • #854
  • Dec 30, 2013 3:11pm Dec 30, 2013 3:11pm
Nice analysis venzen, we are stuck here betwing the ema's still, a break out of this two moving averages will go places, 900 maybe to the ouside or 373 to the down side, so make your bets.......

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The Chonchy
  • #855
  • Dec 30, 2013 6:26pm Dec 30, 2013 6:26pm
Quoting venzen
i remember KiwiOz predicted the current target near 900 (MtGox) a few weeks ago: http://www.forexfactory.com/showthre...98#post7171398
Indeed I did. Profit so far very good.
I'm still looking at 887 as a good target. parity has also come into the picture as a target..........
We are in a nice little triangle or wedge which has to be about to break out in one direction or the other.
If Bitcoin is to live up to the hype surrounding it at present with all the BIG names climbing on board, I would be surprised to see much down movement.
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Money Makes Money
  • #856
  • Dec 30, 2013 7:38pm Dec 30, 2013 7:38pm
Quoting KiwiOz
{quote} Indeed I did. Profit so far very good. I'm still looking at 887 as a good target. parity has also come into the picture as a target.......... We are in a nice little triangle or wedge which has to be about to break out in one direction or the other. If Bitcoin is to live up to the hype surrounding it at present with all the BIG names climbing on board, I would be surprised to see much down movement. {image}
Good analysis KiwiOz, good in deed.....Happy Holidays to you and to your family.....
The Chonchy
  • #857
  • Dec 30, 2013 7:40pm Dec 30, 2013 7:40pm
....! $ 10 dollars to who ever guess if is a break or bounce......!

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The Chonchy
  • #858
  • Dec 30, 2013 7:41pm Dec 30, 2013 7:41pm
..Same bet.......

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The Chonchy
  • #859
  • Dec 30, 2013 7:54pm Dec 30, 2013 7:54pm
morning chonchy and KiwiOz,

This quiet narrowing in the chart is definitely leading up to some fireworks. I'm expecting a break to the downside first, followed by a fast rise to new highs.

The current wedge-shaped structure can be either a triangle (whcih is always the 2nd last move of a trend) or a leading diagonal - the latter meaning we're already in the ealry stages (wave 1) of the advance. In the case of a triangle we should see a final wave to the downside - although - as remarked by KO and others - it's depth will be limited due to the strong buying zone below $500. If we're in a leading diagonal then we can expect a retracement (in 3 waves) to 50% or 80% and then a moon rocket. PA resembles Silver in June of this year.

Either way, triangle or diagonal, we're getting a moon rocket and the important clues for how high it will push are going to be in the depth of the next wave down and the size of the initial wave up. Very exciting.

I'm changing my strategy from holding most of my capital as actual coins, to a strategy of putting most of my capital in a trade account. Using leverage and the ability to short means trading will be more profitable than buy-and-hold over the longer term.
cryptocurrency everytime
  • #860
  • Dec 30, 2013 7:55pm Dec 30, 2013 7:55pm
Quoting chonchy
..Same bet....... {image}

hey, i just mentioned XAG in my post and then noticed you posted a chart...
cryptocurrency everytime
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