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Bitcoin technical analysis

  • #1,641
  • Jan 19, 2014 6:22am Jan 19, 2014 6:22am
Quoting KiwiOz
{quote} Be careful following other people. Make sure your own analysis confers first.
like I say, I don't see it but you are always rite, so I'm following you on this one, is not in sync anyways, is not going far, up or down, me think, I could be wrong and it takes off north like a missile, but I don't think is in sync yet.......we will see....
The Chonchy
  • #1,642
  • Jan 19, 2014 6:29am Jan 19, 2014 6:29am
.........It should definitely bounce on the red ema 100 wish is that 819 resistance........

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The Chonchy
  • #1,643
  • Jan 19, 2014 6:33am Jan 19, 2014 6:33am
......But if it cross that ema 100 red, is looking for his sync and then definitely is going up if it syncs ......because 5M, 15M and 30M are up now, all over red ema 100......

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The Chonchy
  • #1,644
  • Jan 19, 2014 6:51am Jan 19, 2014 6:51am
.....And here we are at the famous red ema 100 again, if it cross with force and get in sync for the up, we are going up, if it bounces, I'm hedge already ...........if you ask me, is going to cross.....

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The Chonchy
  • #1,645
  • Jan 19, 2014 7:00am Jan 19, 2014 7:00am
.........Coincidently 819 became the red ema 100 here so is a crucial point for him, break or bounce and is being a few intents already so my guess is that is going for the 23.6 fibo of the grand rally.......I could be wrong.......but I think is break or bounce situation.....

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The Chonchy
  • #1,646
  • Jan 19, 2014 7:02am Jan 19, 2014 7:02am
Quoting chonchy
.........Coincidently 819 became the red ema 100 here so is a crucial point for him, break or bounce and is being a few intents already so my guess is that is going for the 23.6 fibo of the grand rally.......I could be wrong.......but I think is break or bounce situation..... {image}
Your right. anyway it's been fun. time to hit the sack.........
Money Makes Money
  • #1,647
  • Edited 10:09am Jan 19, 2014 7:30am | Edited 10:09am
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  • #1,648
  • Jan 19, 2014 7:31am Jan 19, 2014 7:31am
Quoting KiwiOz
{quote} Your right. anyway it's been fun. time to hit the sack.........
you were also rite KO, is bouncing here so is going down, get a good rest....
The Chonchy
  • #1,649
  • Edited 7:50am Jan 19, 2014 7:33am | Edited 7:50am
Now you put a rectangle on your chart, chonchy, I notice there has been a purple box containing price since the beginning of January. A deep purple colour box - how could we miss it ?

So price went above it and got sucked back in - and overcompensated on the way down. It tried going out the top again but got pulled back in again. Every attempt at the bottom led to a strong bounce. PA looks happiest inside the box! If nothing changed, I imagine PA would just keep bouncing around inside the rectangle. Although that red dotted line running diagonally from top left to bottom right seems to force some kind of downward bias - but very slight and I doubt PA would dip below the lower perimeter of the box for long before being kicked back inside...

So how would it ever escape such a strong purple box? Looking at that rectangle it seems the bottom is the new support floor and that PA may not dip below 777 again (ever?)

http://ubuntuone.com/4tBLPzc1XHJ9qfV0DFYGwr
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  • #1,650
  • Jan 19, 2014 7:46am Jan 19, 2014 7:46am
Quoting venzen
Now you put a rectangle on your chart, chonchy, I notice there has been a purple box containing price since the beginning of January. A deep purple colour box - how could we miss it ? So price went above it and got sucked back in - and overcompensated on the way down. It tried going out the top again but got pulled back in again. Every attempt at the bottom led to a strong bounce. PA looks happiest inside the box! If nothing changed, I imagine PA would just keep bouncing around inside the rectangle. Although that red dotted line running diagonally...
interesting box you got there venzen and I have two lots outside that box, not nice, not nice at all........

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The Chonchy
  • #1,651
  • Jan 19, 2014 8:58am Jan 19, 2014 8:58am
Quoting chonchy
{quote} interesting box you got there venzen and I have two lots outside that box, not nice, not nice at all........ {image}

Not nice. I have a lot long from 980. Am I proud of it? No. Is PA going above 980 anytime soon and making good that order? For sure!
cryptocurrency everytime
  • #1,652
  • Jan 19, 2014 9:58am Jan 19, 2014 9:58am
ending diagonal c wave
end of wave e
end of wave B
start of wave C
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  • #1,653
  • Jan 19, 2014 10:06am Jan 19, 2014 10:06am
Quoting chonchy
.........Good support at 802 and good resistance at 819 now.......the spike to 823 is significant dough.... {image}

that spike... I also think it's significant. Something tells me we're going to see this pattern again:

http://ubuntuone.com/4PwL8DzetI4RT33XahoMaA
cryptocurrency everytime
  • #1,654
  • Jan 19, 2014 10:09am Jan 19, 2014 10:09am
Quoting emptymind
ending diagonal c wave end of wave e end of wave B start of wave C {image}

very amazing price action!

so down to 800/810 from here... what target you got emptymind?
cryptocurrency everytime
  • #1,655
  • Jan 19, 2014 10:12am Jan 19, 2014 10:12am
around 700 ...the usual 61.8% retracement for wave 2
  • #1,656
  • Jan 19, 2014 10:25am Jan 19, 2014 10:25am
Quoting chonchy
is technology allow in this thread? {image} http://inhabitat.com/large-3d-printe...n-under-a-day/

chonchy, this 3D printer is amazing, man... so i just design my dream house and it prints it on the hill overlooking the sea?
cryptocurrency everytime
  • #1,657
  • Jan 19, 2014 10:31am Jan 19, 2014 10:31am
Quoting emptymind
around 700 ...the usual 61.8% retracement for wave 2

i see your count now: wave A down from the high, this is a triangle wave B and then a 5w wave C down to 700. That's feasible and I'd be happy with wave development like that!
cryptocurrency everytime
  • #1,658
  • Edited 12:21pm Jan 19, 2014 11:48am | Edited 12:21pm
doesn't look like diagonal... normal 5 waves

wave 4 behhaving normally.. 38.2% retracement
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wave 5 target = 948.60
(936.95 - 902.01) * .618 +927.01

edit----------- market touched 941;;; good enough for wave 5
recalc using .382
(936.95 - 902.01) * .382 +927.01 = 940.36 ............very close to actual high


wave 3 is 161.8% of wave 1

Quoting venzen
{quote} i see your count now: wave A down from the high, this is a triangle wave B and then a 5w wave C down to 700. That's feasible and I'd be happy with wave development like that!
yes, that's my count
  • #1,659
  • Jan 19, 2014 12:30pm Jan 19, 2014 12:30pm
Quoting emptymind
doesn't look like diagonal... normal 5 waves wave 4 behhaving normally.. 38.2% retracement {image} wave 5 target = 948.60 (936.95 - 902.01) * .618 +927.01 edit----------- market touched 941;;; good enough for wave 5 recalc using .382 (936.95 - 902.01) * .382 +927.01 = 940.36 ............very close to actual high wave 3 is 161.8% of wave 1 {quote} yes, that's my count
solid Fib relationships - good work!

So we'd expect a reversal here and then see what prints to the downside - and how - reversal should be swift but sluggish reversal could be a sign the triangle has more meanderings to do.
cryptocurrency everytime
  • #1,660
  • Jan 19, 2014 12:48pm Jan 19, 2014 12:48pm
emptymind, the question is whether this wave C up has completed... PA has not struck a satisfactory Fib ratio of wave A yet. The Fib ruler drawn over wave C is exactly 1.0 of wave A... your initial target for the end of subwave 5 (of C) may be correct afterall.

edit: I'm done for the day - Good Luck and see you next session.

MtGox H1

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