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Bitcoin technical analysis

  • #1,441
  • Jan 13, 2014 12:38pm Jan 13, 2014 12:38pm
Hey venzen and all, thought you might find this newly added info useful.

http://www.kitco.com/finance/bitcoin/

Kitco (NO AFFILIATION) but I do like to use them for third party / non skewed pricing and fixes for Gold / Silver,
has added bitcoins.

Here's a screen of the info and the link is above.
Attached Image (click to enlarge)
Click to Enlarge Name: Picture 24.png Size: 250 KB
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #1,442
  • Jan 13, 2014 12:40pm Jan 13, 2014 12:40pm
Quoting lady_luck
Unfortunately, that's the part where I got suckered, the trade wasn't canceled just "postpone" with a "sorry i have no more credit for the day". I could have scream like a siren but cheeky me started the trade on the week-end high, so it's still at my advantage. Yeah i think the guy on plus500 was doing LTC. Dcramer16, I was saying not long ago, 100btc is nothing, even 1000btc isn't much. To manipulate the market in the way you mention you need 100time that amount and a high volume of trade, as strange as it sounds it's actually harder to manipulate...

good for you LL! so hopefully tomorrow price is a bit higher and they will "have more credit" after seeing no risk of additional lows
cryptocurrency everytime
  • #1,443
  • Jan 13, 2014 12:42pm Jan 13, 2014 12:42pm
Quoting XTrade
Hey venzen and all, thought you might find this newly added info useful. http://www.kitco.com/finance/bitcoin/ Kitco (NO AFFILIATION) but I do like to use them for third party / non skewed pricing and fixes for Gold / Silver, has added bitcoins. Here's a screen of the info and the link is above. {image}

hey XTrade,

This is great, man!

I will follow the link and check it out - BTC priced in Gold - who would have thought!?
cryptocurrency everytime
  • #1,444
  • Jan 13, 2014 12:51pm Jan 13, 2014 12:51pm
Makes sense folks.
  • #1,445
  • Jan 13, 2014 12:51pm Jan 13, 2014 12:51pm
people,

great conversation here today and the targets forecasted by chonchy and KiwiOz were hit. Great to have some visitors, thodie and Xtrade (bringing gifts, thank you). Welcome dcramer16 and amol.

PA is back above psych levels 900 and 800 for the 3 main exchanges, so I am going to get some sleep.

Good bye and see you all later!

oh, and if anyone asks you, tell them: "cryptocurrency is the shizniz!"
cryptocurrency everytime
  • #1,446
  • Jan 13, 2014 1:20pm Jan 13, 2014 1:20pm
Good night Venzen, thanks for your help today. And thanks to everyone else too. I'll get this figured out eventually, if nothing else I'll just hold on for the long term. It was quite funny, I started a month ago, bought, didn't trade at all, I just let it get bigger over the long term. As soon as I started messing around with it and trading I started loosing it all! With some practice I hope to change that, but if nothing else I'll just hold onto it and not keep messing with it.
  • #1,447
  • Jan 13, 2014 1:30pm Jan 13, 2014 1:30pm
Thanks Dear
one more question- how can i get chart on MT4 ?
  • #1,448
  • Jan 13, 2014 3:53pm Jan 13, 2014 3:53pm
Quoting venzen
{quote} hey XTrade, This is great, man! I will follow the link and check it out - BTC priced in Gold - who would have thought!?
Slight correction here mate, it is not offering quotes of BTC in AU just BTC/USD.

Perhaps you are on to a NOVEL idea though!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #1,449
  • Jan 13, 2014 7:29pm Jan 13, 2014 7:29pm
Quoting lady_luck
I had a strange encounter today. I tried to sell quiet a few btc today, met the buyer from localbitcoins, and ended up in a financial agency with a dozen traders, more than a few of them having MT4 and plus500 BTC open on their screen. For the anecdote, the sell didn't happen, I guess those guys thought they can make me wait until tomorrow for may be a new low and cancel the trade, or hedge it if it goes up. Anyway, that was an interesting thing to see
Yay. I'm awake & rich. Ok ok just not so poor..
L L I think maybe you should go back & sell those Bitcoins & buy again at a lower price.????

My charts are showing this down move may not be over...... I have 780 still showing on my charts as a potential target. This would be a double bottom on the 1H chart. The move down to 780 would be a short 5th wave.
I have 719 as a potential target on the 4H chart. This on the 4H chart would be a 5th wave with a double bottom also.
Double bottoms are good launching pads.
Then again. the present pattern shows a simple ABC retrace. So we could now be North bound.....??

Time for extreme caution.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: btcusdh1.png Size: 47 KB
Click to Enlarge Name: btcusdh4.png Size: 38 KB
Money Makes Money
  • #1,450
  • Jan 13, 2014 8:33pm Jan 13, 2014 8:33pm
Quoting KiwiOz
{quote} Yay. I'm awake & rich. Ok ok just not so poor.. L L I think maybe you should go back & sell those Bitcoins & buy again at a lower price.???? My charts are showing this down move may not be over...... I have 780 still showing on my charts as a potential target. This would be a double bottom on the 1H chart. The move down to 780 would be a short 5th wave. I have 719 as a potential target on the 4H chart. This on the 4H chart would be a 5th wave with a double bottom also. Double bottoms are good launching pads. Then again. the present...



morning KO and chonchy,

if we go to 720 again and reverse that would be great because it would confirm the BTC double tap of that level as longterm support. The next wave up would then be steeper and go further until we repeat the same corrective combination, double tap and continue once again.
cryptocurrency everytime
  • #1,451
  • Jan 13, 2014 8:51pm Jan 13, 2014 8:51pm
Quoting venzen
{quote} morning KO and chonchy, if we go to 720 again and reverse that would be great because it would confirm the BTC double tap of that level as longterm support. The next wave up would then be steeper and go further until we repeat the same corrective combination, double tap and continue once again.
thanks venzen for showing me how to increase the leverage, I close all he shorts and went long at the magenta line and wake up with 20 pips wish I took and erased the loss of my book, thanks again venzen.......and good morning.....
The Chonchy
  • #1,452
  • Jan 13, 2014 9:15pm Jan 13, 2014 9:15pm
Kitco aggregate the various exchanges' prices into a single weighted average price and provide a chart. This is useful.

What's also interesting is that Bitstamp is shifting more volume than the other exchanges... is that because they're based in the US? And King of the Hill, MtGox is no longer the volume leader - which I didn't know - bu then why is their price ~$100 higher than the rest?

Attached Image (click to enlarge)
Click to Enlarge Name: Gold_Selection_14Jan14_10:11.png Size: 94 KB
cryptocurrency everytime
  • #1,453
  • Jan 13, 2014 9:22pm Jan 13, 2014 9:22pm
Quoting amol123
Thanks Dear one more question- how can i get chart on MT4 ?
.......On MT4 click on file, save as picture, then click on active chart, save as PNG file and then on forex factory, click on upload from computer and then double click on the file that you saved and then click on insert on forex factory, hope it helps......
Attached Image (click to enlarge)
Click to Enlarge Name: btcusdh1.png Size: 39 KB
The Chonchy
  • #1,454
  • Jan 13, 2014 9:27pm Jan 13, 2014 9:27pm
Quoting KiwiOz
{quote} Yay. I'm awake & rich. Ok ok just not so poor.. L L I think maybe you should go back & sell those Bitcoins & buy again at a lower price.???? My charts are showing this down move may not be over...... I have 780 still showing on my charts as a potential target. This would be a double bottom on the 1H chart. The move down to 780 would be a short 5th wave. I have 719 as a potential target on the 4H chart. This on the 4H chart would be a 5th wave with a double bottom also. Double bottoms are good launching pads. Then again. the present...
nice charts and nice analysis KiwiOz.....
The Chonchy
  • #1,455
  • Jan 13, 2014 10:17pm Jan 13, 2014 10:17pm
I was also expecting more downside action because this wave down looks incomplete. However, rapid reversal from 780 implies the fear of new highs is back

Attached Image (click to enlarge)
Click to Enlarge Name: Gold_Selection_14Jan14_11:15.png Size: 148 KB
cryptocurrency everytime
  • #1,456
  • Jan 13, 2014 10:30pm Jan 13, 2014 10:30pm
https://read.amazon.com/?asin=B00HMQS4XK good read for the new ones and fun for the old ones....
The Chonchy
  • #1,457
  • Jan 13, 2014 10:32pm Jan 13, 2014 10:32pm
Quoting venzen
I was also expecting more downside action because this wave down looks incomplete. However, rapid reversal from 780 implies the fear of new highs is back {image}
I think is the fear of being left out, lol, people don't want to lose the imminent train going north, me think......
The Chonchy
  • #1,458
  • Jan 13, 2014 11:17pm Jan 13, 2014 11:17pm
Quoting chonchy
{quote} .......On MT4 click on file, save as picture, then click on active chart, save as PNG file and then on forex factory, click on upload from computer and then double click on the file that you saved and then click on insert on forex factory, hope it helps...... {image}
Dear ,
i have seen chart on bitcoinwisdom, but same chart i would like to see on MT4.
my question which Forex Broker provide Trading in BTCUSD? so i can see chart there on MT4 Platform.

Thanks
  • #1,459
  • Jan 13, 2014 11:23pm Jan 13, 2014 11:23pm
Quoting amol123
{quote} Dear , i have seen chart on bitcoinwisdom, but same chart i would like to see on MT4. my question which Forex Broker provide Trading in BTCUSD? so i can see chart there on MT4 Platform. Thanks
oh sorry miss understood you, the only platform I use and know is BTC-e, sorry.....
The Chonchy
  • #1,460
  • Jan 13, 2014 11:56pm Jan 13, 2014 11:56pm
Good morning all Tulip Heads!

Excuse me, I woke up to an email discussion with a friend about Gold, Bitcoin and Incredibly Grand SuperDuper Cycle degree in Elliott Wave Principle! Jokes all morning and we were laughing about the fact that in the New Normal, Elliotticians are now the herd instead of being the contrarians. Hell, even Bloomberg now do Elliott Wave analysis! So, as these things go - as soon as the majority cotton on to an idea, it will change it's DNA specifically to fool that new herd mentality! I propose that Gold and Bitcoin will show us in the coming months a new dynamic in the markets and rewrite the rule book for commodity waves and "intrinsic value": Bitcoin up, Gold down. Bitcoin down, Gold up!

http://ubuntuone.com/0FQMCWDaEVrODqbs5ywcOThttp://ubuntuone.com/4s0zjKhtGP5KQg4uNCVToOhttp://ubuntuone.com/2DroUCJfVj8dF9BQWt7hU8http://ubuntuone.com/1JuuaIn23KZxkqroaHPeB3
cryptocurrency everytime
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