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Bitcoin technical analysis

  • #881
  • Jan 1, 2014 3:30pm Jan 1, 2014 3:30pm
Quoting smartypants
http://www.reddit.com/r/Bitcoin/comm...troyed_and_10/ Could it be the trend shift? -s-

could be the trend continuation, I think BTC is catching a lot of attention out there and is going to pup up soon but a low will be mark in this few hours.......perhaps one of this levels or that 373 we all look for....nah too low....

Attached Image (click to enlarge)
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The Chonchy
  • #882
  • Jan 1, 2014 4:18pm Jan 1, 2014 4:18pm
Quoting chonchy
{quote} BTC-e is one platform, Mt.Gox is another one, there are many, but they are all new so is hard to recommend anyone, I do it with BTC-e, the money to start, depends on you ability to trade, I trade little, 40 or 50 buck, but if you can spend 100 without losing an arm and a leg, then go ahead and have some fun...... My choco line is almost there, so I will get out here and see what is happening after the bounce or break......happy new year to all....
How much are commissions?
hiw does it work you put bitcoins on the exchange in your account and use that to trade with?

you mentioned 5o Bucks per trade. Trying to get an idea how it works.
  • #883
  • Jan 1, 2014 9:05pm Jan 1, 2014 9:05pm
Quoting Ozes
{quote} How much are commissions? hiw does it work you put bitcoins on the exchange in your account and use that to trade with? you mentioned 5o Bucks per trade. Trying to get an idea how it works.
I don't know how BTC-e MT4 works yet because I can't get that to work without help and the help tickets are difficult for me, but on their regular platform you buy BTC's low and sale them high, when you buy BTC's your money goes into BTC's and when you sale them your money goes into fiat, and vice versa, the minimum buy or sale is 0.01 BTC, wish is around 7 dollars or less, depending on the exchange at the moment.....just open a demo, don't trade real yet, please.....
The Chonchy
  • #884
  • Jan 2, 2014 3:31pm Jan 2, 2014 3:31pm
Quoting chonchy
On BTC I'm looking at the same thing here, stuck bet wing a hard place and a rock, the choco ema and the blue ema are holding it and the blue line of the equestrian channel maybe a retest and bounce up, I still see the yellow line as resistance, if it takes it, then 900 and a thousand is a doable target like KiwiOz say.......there is two possible targets here, the yellow line at 825 and the blue line at 650.....after that I will reconsider my plan.... {image}
If I knew this, I wonder why I got out...... I anticipate a bounce here......at the yellow line.....if is a full blown then new heights will be shown later.......if it allow me, I will get in long again.......

Attached Image (click to enlarge)
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The Chonchy
  • #885
  • Edited 4:22pm Jan 2, 2014 4:03pm | Edited 4:22pm
Quoting chonchy
{quote} If I knew this, I wonder why I got out...... I anticipate a bounce here......at the yellow line.....if is a full blown then new heights will be shown later.......if it allow me, I will get in long again.......
Yeah, the 2 potential target on btc-e/bitstamp seem to be either 816 (previous support) or 864 (previous resistance) of the previous corrective wave, 864 is my choice at the moment works better with other MA and fib. Plus the triangle just broke, so 864 for me.

i'll try to edit with a chart soon edit : here, sorry it has been done in a bit of a hurry, so i hope you'll still get the idea...
http://i.imgur.com/jLa9ZyN.png
  • #886
  • Jan 2, 2014 8:31pm Jan 2, 2014 8:31pm
Anyone tried exchange arb with BTC yet?
  • #887
  • Jan 2, 2014 9:26pm Jan 2, 2014 9:26pm
Quoting lady_luck
{quote} Yeah, the 2 potential target on btc-e/bitstamp seem to be either 816 (previous support) or 864 (previous resistance) of the previous corrective wave, 864 is my choice at the moment works better with other MA and fib. Plus the triangle just broke, so 864 for me. i'll try to edit with a chart soon edit : here, sorry it has been done in a bit of a hurry, so i hope you'll still get the idea... {image}
thanks for the chart lady . Yeah I saw a pendant uoward triangle then it broke out upwards. Was I correct? Where did it break out? What charting software are you using? Which time frame?

thanks
  • #888
  • Jan 2, 2014 10:19pm Jan 2, 2014 10:19pm
Happy New Year All!

This is going to be a very exciting year for the cryptocurrencies. The landscape is changing fast and there is a lot of hype and noise being generated. The big companies are muscling in and with it comes complications in the charts. The FBI holds a Silk Road wallet (which is also the largest known wallet in the blockchain) which they have declared they want to liquidate. More and more platforms are popping up and more traders are piling in now that the mainstream are telling them this is a serious instrument. Memecoins like Dogecoin and now Coinye West are being floated on the exchanges and people excitedly pile in on the buy side. All I can say is "wow"...

I keep reminding myself where this came from and the core of what Bitcoin IS - not what it is being hyped as - we are going to have huge opportunities in the coming months and good luck to everyone trading the cryptocurrencies and have been showing their support and cameraderie here!

I have been quiet for a few days due to unexpected events in my community that required my attention. All is well and I am also happy to report that I had built an experimental cryptocurrency (from Bitcoin sourcecode) over the New Year! I will share more here and give away piles of free coins when I've finished mining the genesisblock

Traders, the chart triangle formation looks like it's coming to a conclusion so be ready to take positions. We all seem to be unsure what stage of trend we're in: is this the end of the decline? or the beginning of the advance? I don't know but the depth of the next wave down will reveal more.
cryptocurrency everytime
  • #889
  • Jan 2, 2014 10:20pm Jan 2, 2014 10:20pm
Quoting lady_luck
{quote} Yeah, the 2 potential target on btc-e/bitstamp seem to be either 816 (previous support) or 864 (previous resistance) of the previous corrective wave, 864 is my choice at the moment works better with other MA and fib. Plus the triangle just broke, so 864 for me. i'll try to edit with a chart soon edit : here, sorry it has been done in a bit of a hurry, so i hope you'll still get the idea... {image}
I do get the idea lady luck, thanks Happy New Year.......let see what will happens......It looks like a bit of a range on the 4H...

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The Chonchy
  • #890
  • Jan 2, 2014 10:30pm Jan 2, 2014 10:30pm
Quoting Ozes
{quote} How much are commissions? hiw does it work you put bitcoins on the exchange in your account and use that to trade with? you mentioned 5o Bucks per trade. Trying to get an idea how it works.

hi Ozes and welcome,

The platforms out there are many but there are only a few exchanges. The main exchanges are MtGox, Bitstamp and BTC-e. MtGox does not offer short selling but their quote price for Bitcoin is generally higher, so it's a good exchange to convert BTC to fiat. You can move BTC around between exchanges and your own wallet without any hassle. However, getting fiat into your exchange account is complicated by the banks and my advice to you is to use Bank Wire Transfer to fund your exchange account. Like chonchy suggested, it would be best to open an account with BTC-e to start with and trade on demo for a few days or weeks to get a sense of BTC and the process of flipping in and out of BTC/fiat.

Commissions are generally a Bitcoin blockchain commission if you want speedy transfer of BTC from one wallet/exchange to another. It's a small fee of around 0.003 Bitcoin. There is also generally a 0.01 Bitcoin transaction minimum when buying/selling Bitcoin on the exchanges and the minimum trade size is mostly 0.01 BTC.

Good Luck
cryptocurrency everytime
  • #891
  • Jan 2, 2014 10:30pm Jan 2, 2014 10:30pm
Quoting mfoste1
Anyone tried exchange arb with BTC yet?

hi mfoste1,

please explain what's 'arb'...
cryptocurrency everytime
  • #892
  • Jan 2, 2014 10:33pm Jan 2, 2014 10:33pm
Quoting lady_luck
{quote} Yeah, the 2 potential target on btc-e/bitstamp seem to be either 816 (previous support) or 864 (previous resistance) of the previous corrective wave, 864 is my choice at the moment works better with other MA and fib. Plus the triangle just broke, so 864 for me. i'll try to edit with a chart soon edit : here, sorry it has been done in a bit of a hurry, so i hope you'll still get the idea... {image}

hi lady_luck,

I'm eyeing 816 as the BTCe high today, but there is a lot of exuberance in the market so it might just overshoot to your next target 864 - not impossible. Let's see. I'm starting to sell portions of long positions and placing short orders below price
cryptocurrency everytime
  • #893
  • Jan 2, 2014 10:42pm Jan 2, 2014 10:42pm
Quoting smartypants
http://www.reddit.com/r/Bitcoin/comm...troyed_and_10/ Could it be the trend shift? -s-

Well spotted! This will probably happen more and more as large players make early adopters offers that are hard to refuse... there are only so many Bitcoins and the only way someone can acquire a large number is to buy in bulk from a willing seller. If a large buyer were to go through an exchange there would not be enough liquidity and their order would get filled in stages - mostly at a worse price than when the order filling started.

Whether a transaction goes through an exchange or through a prvate wallet - it shows up in the blockchain anyway, so the article you linked shows how the public ledger (blockchain) is useful and prevents manipulation through transparency.
cryptocurrency everytime
  • #894
  • Jan 2, 2014 10:45pm Jan 2, 2014 10:45pm
Quoting venzen
Happy New Year All! This is going to be a very exciting year for the cryptocurrencies. The landscape is changing fast and there is a lot of hype and noise being generated. The big companies are muscling in and with it comes complications in the charts. The FBI holds a Silk Road wallet (which is also the largest known wallet in the blockchain) which they have declared they want to liquidate. More and more platforms are popping up and more traders are piling in now that the mainstream are telling them this is a serious instrument. Memecoins like Dogecoin...
venzen, thanks for everything, Happy New Year to you too, my friend, I manage to put money into MT4 but it looks like the minimum requirement here is more than on the regular BTC-e platform, so I need to deposit more in my wallet but for me here in US is a mess, any ideas?
The Chonchy
  • #895
  • Jan 2, 2014 10:47pm Jan 2, 2014 10:47pm
Quoting mfoste1
Anyone tried exchange arb with BTC yet?
Hello mfoste1, Happy New Year, long time no see you, hope all is well with you and your family, welcome to the thread but no I don't know anything about Arb.....sorry..
The Chonchy
  • #896
  • Jan 2, 2014 10:53pm Jan 2, 2014 10:53pm
Quoting venzen
{quote} Well spotted! This will probably happen more and more as large players make early adopters offers that are hard to refuse... there are only so many Bitcoins and the only way someone can acquire a large number is to buy in bulk from a willing seller. If a large buyer were to go through an exchange there would not be enough liquidity and their order would get filled in stages - mostly at a worse price than when the order filling started. Whether a transaction goes through an exchange or through a prvate wallet - it shows up in the blockchain...

Good point about the manipulation venzen, is true is harder, if they want it they have to buy it, like anybody else, no more easy printing ah......let see if another traitor won't mess it up, like in 1913.....that mofo should have died before doing that sale off to the American people at Jeckel island........
The Chonchy
  • #897
  • Jan 2, 2014 11:04pm Jan 2, 2014 11:04pm
Quoting venzen
{quote} hi mfoste1, please explain what's 'arb'...
arbitrage
  • #898
  • Jan 2, 2014 11:21pm Jan 2, 2014 11:21pm
Quoting venzen
{quote} hi Ozes and welcome, The platforms out there are many but there are only a few exchanges. The main exchanges are MtGox, Bitstamp and BTC-e. MtGox does not offer short selling but their quote price for Bitcoin is generally higher, so it's a good exchange to convert BTC to fiat. You can move BTC around between exchanges and your own wallet without any hassle. However, getting fiat into your exchange account is complicated by the banks and my advice to you is to use Bank Wire Transfer to fund your exchange account. Like chonchy suggested, it...
I managed to fund the MT4 platform and the commission is 0.04 cents on a dollar, so is very little, the spreads are the ones you have to be very careful, they go from one place to another in a blink of an eye, so careful on that, I insist on opening a demo first to get familiar with the spreads, I put more money in it, the leverage is 1.1, 1.2, and 1.3, I got 40 dollars and the minimum to trade is 0.01, good luck.......
The Chonchy
  • #899
  • Edited 11:39pm Jan 2, 2014 11:23pm | Edited 11:39pm
Quoting mfoste1
{quote} arbitrage
Oh sorry mfoste1 I thought arb was a platform, arbitrage is confusing now, the exchanges grow daily so is hard for me to establish a base for it, so no I don't do it.......
The Chonchy
  • #900
  • Jan 2, 2014 11:44pm Jan 2, 2014 11:44pm
.......So who is ready to rock and roll this BTC? I'm ready........
The Chonchy
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