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Bitcoin technical analysis

  • #1,181
  • Edited 7:51am Jan 9, 2014 7:15am | Edited 7:51am
Yes, also that was inspired by Emptymind comment about fractal. Comparing this November timeframe to a daily chart for nov,dec,jan is interesting.
The second diagonal after the III peak, did redrew it self in a larger diagonal three times. Back then it wasn't as obvious as now because of the price euphoria and it only lasted a few days, not a few weeks.

Kinda hard to draw without making it a maze of overlaping line, but something like that


http://i.imgur.com/vJMRzfx.jpg
  • #1,182
  • Jan 9, 2014 7:53am Jan 9, 2014 7:53am
Quoting lady_luck
Yes, also that was inspired by Emptymind comment about fractal. Comparing this November timeframe to a daily chart for nov,dec,jan is interesting. The second diagonal after the III peak, did redrew it self in a larger diagonal three times. Back then it wasn't as obvious as now because of the price euphoria and it only lasted a few days, not a few weeks. Kinda hard to draw without making it a maze of overlaping line, but something like that {image}

Well spotted - and it means we'll spend a few more days in consolidation (a triangle perhaps?) before moving on in wave 5.
cryptocurrency everytime
  • #1,183
  • Jan 9, 2014 8:01am Jan 9, 2014 8:01am
Quoting venzen
{quote} Well spotted - and it means we'll spend a few more days in consolidation (a triangle perhaps?) before moving on in wave 5.
That's what i think, but been wrong a lot so... (if by very much luck It was true, we would be at the equivalent of the candle somewhere above the "M" and "B" of november)
As a general thing tho, it's been often that the 4th retrace 50%, when the 3d end up breaking the diagonal up, and then to break bellow in the 4th, lacking larger triangle before starting a new larger diagonal with the 5th.
  • #1,184
  • Jan 9, 2014 8:41am Jan 9, 2014 8:41am
Quoting lady_luck
{quote} That's what i think, but been wrong a lot so... (if by very much luck It was true, we would be at the equivalent of the candle somewhere above the "M" and "B" of november) As a general thing tho, it's been often that the 4th retrace 50%, when the 3d end up breaking the diagonal up, and then to break bellow in the 4th, lacking larger triangle before starting a new larger diagonal with the 5th.

i agree on all points - we're starting to see some patterns - we hope!

In a great accident of mobile MT4 order placement I just went long - instead of BTCUSD i got BTCRUB !
cryptocurrency everytime
  • #1,185
  • Jan 9, 2014 8:45am Jan 9, 2014 8:45am
Quoting venzen
{quote} i agree on all points - we're starting to see some patterns - we hope! In a great accident of mobile MT4 order placement I just went long - instead of BTCUSD i got BTCRUB !
Planing on becoming a Russian millionaire ?
  • #1,186
  • Jan 9, 2014 8:48am Jan 9, 2014 8:48am
Allright! Bitcoin Russian Ruble

I think it's going to the Moon and I don't want to miss the Sputnik launch! ... that's if I'll be able to see the green candles...

http://ubuntuone.com/0pLrSyqRacJ06yjZohfc00
cryptocurrency everytime
  • #1,187
  • Jan 9, 2014 8:50am Jan 9, 2014 8:50am
Quoting lady_luck
{quote} Planing on becoming a Russian millionaire ?



Nyet, nyet, just to make a little bit on the side...
cryptocurrency everytime
  • #1,188
  • Jan 9, 2014 8:54am Jan 9, 2014 8:54am
Try to write BTCRUR instead, and actually the chart looks pretty good. The ATH is 35800 and we reach 33500 few days ago.
  • #1,189
  • Jan 9, 2014 9:03am Jan 9, 2014 9:03am
Quoting lady_luck
Try to write BTCRUR instead, and actually the chart looks pretty good. The ATH is 35800 and we reach 33500 few days ago.

You're right. The RSI Buy signals (red dots) are very accurate during the uptrend...

http://ubuntuone.com/6mCdpkvudmn3hvQxDrlZqq
cryptocurrency everytime
  • #1,190
  • Jan 9, 2014 9:09am Jan 9, 2014 9:09am
http://www.zerohedge.com/sites/defau.../picture-5.jpg
Bitcoins And Unicorns: The Digital Currency Lands On The Cover Of BusinessWeek

Zerohedge
  • #1,191
  • Jan 9, 2014 9:58am Jan 9, 2014 9:58am
Quoting infinitus
{image} Bitcoins And Unicorns: The Digital Currency Lands On The Cover Of BusinessWeek Zerohedge

Thanks for the link, infinitus!

You got a BTCUSD count to share? - we're having trouble figuring it out...
cryptocurrency everytime
  • #1,192
  • Jan 9, 2014 10:22am Jan 9, 2014 10:22am
Ha ha, that's great : http://www.coindesk.com/bitcoin-expl...five-year-old/

And the best comment possible :
"Spotted Marley :
I showed the article to a 5-year old and he had trouble reading it. Meanwhile he installed a Bitcoin miner trojan on my system and encrypted my hard drive so I can't turn it off. Kids these days"

And the adult version : http://www.coindesk.com/bitcoin-futu...ges-evolution/
  • #1,193
  • Jan 9, 2014 10:30am Jan 9, 2014 10:30am
Is the sideways action over? From the black count I have here it would appear wave 3 to the upside is starting. The red count tries to show continuing sideways action, but to be honest it doesn't really make sense to count it that way - the degree from the low to red label a is followed by red wave b which is just too small a degree to fit the "right look". abcde must all be of the same degree and this cannot be said for the red count.

The BTCRUR in the meantime, is cooking on gas!

BTCUSD (BTC-e) M15

http://ubuntuone.com/4wJzokPjsYTMikowsT4dDA
cryptocurrency everytime
  • #1,194
  • Jan 9, 2014 10:41am Jan 9, 2014 10:41am
Quoting lady_luck
Ha ha, that's great : http://www.coindesk.com/bitcoin-expl...five-year-old/ And the best comment possible : "Spotted Marley : I showed the article to a 5-year old and he had trouble reading it. Meanwhile he installed a Bitcoin miner trojan on my system and encrypted my hard drive so I can't turn it off. Kids these days" And the adult version : http://www.coindesk.com/bitcoin-futu...ges-evolution/

Both good articles, but i especially like the second one - I noticed it today when I was collating articles and meant to read it but it got lost in the happenings of the day. That article is well written and addresses some core issues that no one else had articulated as well or explored to the same extent. Thanks for reposting it!
cryptocurrency everytime
  • #1,195
  • Jan 9, 2014 10:47am Jan 9, 2014 10:47am
Attached Image
  • #1,196
  • Jan 9, 2014 10:55am Jan 9, 2014 10:55am
Quoting emptymind
{image}

hi emptymind,

in your previous post you mentioned "four bagger" - what's that mean?
cryptocurrency everytime
  • #1,197
  • Jan 9, 2014 11:16am Jan 9, 2014 11:16am
6% away from 51% control of the blockchain: http://www.coindesk.com/bitcoin-mine...ool-51-attack/
cryptocurrency everytime
  • #1,198
  • Jan 9, 2014 11:59am Jan 9, 2014 11:59am
Quoting venzen
{quote} hi emptymind, in your previous post you mentioned "four bagger" - what's that mean?
It's a baseball thing, it's like a winning hand
  • #1,199
  • Jan 9, 2014 12:10pm Jan 9, 2014 12:10pm
Quoting venzen
{quote} Thanks for the link, infinitus! You got a BTCUSD count to share? - we're having trouble figuring it out...

Hi Venzen,

very hard to say. Momentum and volume distribution points to the conclusion, that we are in the wave 5 or wave 4 of 5.

If the top is really not in yet, I see two variants for wave 4 of 5

A) we have seen a zigzag down and are now up in wave 5 of 5

B) we have seen a zigzag down, which is the A wave of an ABC-flat down. Now up in wave B (which may be already finished)


Looking at volume (the volume of the traded Bitcoins, not the USD), people placed value in the 10-100 (spike 200) USD area. From a market profile perspective, this area should get tested again.
  • #1,200
  • Jan 9, 2014 12:12pm Jan 9, 2014 12:12pm
Quoting venzen
{quote} hi emptymind, in your previous post you mentioned "four bagger" - what's that mean?

bagger = +100%

2 bagger = +200%

4 bagger = +400%
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