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Bitcoin technical analysis

  • #1,881
  • Jan 26, 2014 7:31am Jan 26, 2014 7:31am
MtGox just hit above 1000 and the first few Google news links from the last 45mins reflect the mood:

http://www.bubblews.com/news/flag/2156050
More and more retailers accept Bitcoin - News - Bubblews
36 mins ago - Category: News. According to you , burgers , weddings and Beatles albums have in common ? All these products can be purchased with virtual currency Bitcoin ...


http://www.bubblews.com/news/flag/2155953
Singapore accepts taxpayer with Bitcoin - News - Bubblews
36 mins ago - While some countries are warning people not to use the virtual currency Bitcoin for fear of breaking legitimate value for money , some other government ...


http://virtualmining.com/bitcoin-app...dn-businesses/
Virtual Mining Bitcoin News » Bitcoin appealing to Cdn businesses
17 mins ago - MONTREAL – Will that be cash, credit card or Bitcoin? A small number of Canadian businesses now accept Bitcoin, the digital currency that made its debut five ...


http://www.coindesk.com/companies-ch...itcoin-africa/
Companies and Charities Unite to Promote Bitcoin in Africa
23 mins ago - ... and individuals are teaming up to present a good first impression for bitcoin in ... on January 26, 2014 at 12:29 GMT | Companies, Exchanges, Lifestyle, News.


http://www.coinboards.org/thread-new...coin-in-africa
[News]Companies and Charities Unite to Promote Bitcoin in Africa
Companies and Charities Unite to Promote Bitcoin in Africa Private companies, charities and individuals are teaming up to present a good first impression for ...


http://beforeitsnews.com/economy/201...n-2589614.html
Six people will fly into space for Bitcoin | Economy - Before It's News
44 mins ago - (Before It's News). Entrepreneur Richard Branson has announced a handful of people have paid in Bitcoin for their place on board the Virgin Galactic spaceship.


http://beforeitsnews.com/economy/201...s-2589620.html
TigerDirect accepts Bitcoin for online purchases ... - Before It's News
11 mins ago - (Before It's News). TigerDirect, a largest US retailer of electronics products, announced it will accept payments made in the Bitcoin. Steven Leeds, director of ...


http://www.globalpost.com/dispatch/n...currency-des-0
More Cdn businesses accepting Bitcoin digital currency, despite ...
4 mins ago - A small number of Canadian businesses now accept Bitcoin, the digital ... http://www.globalpost.com/dispatch/n...0126/more-cdn- ...
cryptocurrency everytime
  • #1,882
  • Jan 26, 2014 7:39am Jan 26, 2014 7:39am
Good morning and Good sunday

Waow 200 difference between gox and the other ? Haven't seen that in a while.
Most large move started that way in the past...
  • #1,883
  • Jan 26, 2014 8:12am Jan 26, 2014 8:12am
Quoting lady_luck
Good morning and Good sunday Waow 200 difference between gox and the other ? Haven't seen that in a while. Most large move started that way in the past...

hi lady_luck,

great price action today! Good Sunday to you too.

I'm out to fetch a water delivery, will be back later after about 2 hours to assess what's going on.
cryptocurrency everytime
  • #1,884
  • Jan 26, 2014 9:13am Jan 26, 2014 9:13am
such sunday, much little to do.

Need to get some hardware to get the 2x radeon 6970 going. Make a nice heater for the winter. Much warmth, such profit wow
BTC FTW
  • #1,885
  • Jan 26, 2014 9:18am Jan 26, 2014 9:18am
.........Good Sunday Morning to all.......sorry for not being here, too much work at the house and now baby seater......

https://scontent-a-mia.xx.fbcdn.net/...46264225_n.jpg
The Chonchy
  • #1,886
  • Jan 26, 2014 9:25am Jan 26, 2014 9:25am
.......Notice how the move and the sync of the charts...........

daily was up, when one hour and 30 minutes align, then 5m show the entrie at the cross of the blue to the up after the fake or slide of the blue down to the border of the chart, that was a perfect entrie, looking at the other charts, but more saver was at the cross of the tree MA at 804, that was a safe entrie with a stop at the start of all those green candles......

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The Chonchy
  • #1,887
  • Jan 26, 2014 9:28am Jan 26, 2014 9:28am
.......if you wanted to get in with the 30M being more conservative, the touch of the red ema 100 with all the other higher TF's in sync, would of have being the entrie........It was a nice 30 pips move to scalp the inactivity of last night........

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The Chonchy
  • #1,888
  • Jan 26, 2014 9:30am Jan 26, 2014 9:30am
Quoting venzen
MtGox just hit above 1000 and the first few Google news links from the last 45mins reflect the mood: http://www.bubblews.com/news/flag/2156050 More and more retailers accept Bitcoin - News - Bubblews 36 mins ago - Category: News. According to you , burgers , weddings and Beatles albums have in common ? All these products can be purchased with virtual currency Bitcoin ... http://www.bubblews.com/news/flag/2155953 Singapore accepts taxpayer with Bitcoin - News - Bubblews 36 mins ago - While some countries are warning people not...
......Nice links venzen, thanks for them.........
The Chonchy
  • #1,889
  • Jan 26, 2014 11:18am Jan 26, 2014 11:18am
Quoting chonchy
{quote} ......Nice links venzen, thanks for them.........

hi chochy, yes, just a links dump to show the general news... i see now that there is large bank approval in the news:

Head of Russia's Largest Bank Backs Bitcoin, Again Speaking at the World Economic Forum in Davos, Sberbank CEO German Gref voiced his support for digital
http://www.coinboards.org/thread-new...-bitcoin-again

so with this flood of positive news and an advance underway things are looking good fo more upside.

Right now Gox is consolidating above 1000 and BTCe has not made the same massive advance (yet) - like lady_luck said earlier, Gox tends to lead. I am considering opening a safety hedge right here (because of strong advance and overbought indicators) but I'm not sure... we've waited a long time to get in at the start of an uptrend and here it is, but i keep suspecting a deep correction... nerves!

BTW - hanging out in the tradingview.com chat for a few days has been interesting - a lot of greenhorn traders there and most of them bearish. Even now (with this strong advance underway) there are people posting things like "adding to my short position here, a sell wall is coming up" well, i watched with amazement how the bulls just ran straight through a 1000+ group of sell orders at 1000 on Gox earler...

any views on a possible correction? I cannot see PA continue without some consolidation - if not down, then most likely sideways.
cryptocurrency everytime
  • #1,890
  • Jan 26, 2014 11:22am Jan 26, 2014 11:22am
the angle of this uptrend is quite steep - i guess that means it has high momentum and we can expect it to run far without significant correction?

https://www.tradingview.com/x/6IpkMMb0/
cryptocurrency everytime
  • #1,891
  • Jan 26, 2014 11:33am Jan 26, 2014 11:33am
When I first got into BTC, I remember that BTC-e chat was actually pretty decent, lots of honest people and you could actually read "buy" "sell" and take that seriously as a meaningful trading advice !
A few month before april it changed, then same thing happened to bitcointalk and now to tradingview. Feels like it's propagating, mostly good trader giving charts a few pips off, or this kind of thing, but this mentality is getting everywhere in the BTC community.

So I guess my point is to believe in your analysis Venzen.
(just don't get drunk, home, internet and wake with some NXTcoins tabs all over your laptop, unable to recollect the events that might have lead you there... )
But to me the last few downside have been pretty effective, I' won't see any reversal sign before those gaps between exchange narrows down. Like in april an november lead crossing between them is always a good sign of something...
  • #1,892
  • Jan 27, 2014 6:22am Jan 27, 2014 6:22am
G'day Y'all.
I see the weekend trading was interesting as usual. Looks we are heading down again. How far is hard to tell but I still see no Northerly targets of note.
I will be interested to see where the first pullback on the 4H chart shows up. If it doesn't happen about now I expect it will around 790.
This would be a good setup for a move down to 750 & then 715 comes in to play........
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Money Makes Money
  • #1,893
  • Jan 27, 2014 7:27am Jan 27, 2014 7:27am
Quoting KiwiOz
G'day Y'all. I see the weekend trading was interesting as usual. Looks we are heading down again. How far is hard to tell but I still see no Northerly targets of note. I will be interested to see where the first pullback on the 4H chart shows up. If it doesn't happen about now I expect it will around 790. This would be a good setup for a move down to 750 & then 715 comes in to play........ {image}
thanks for update KiwiOz. I'm still bullish but the current wave down may well be the decline you forecast.
cryptocurrency everytime
  • #1,894
  • Jan 27, 2014 7:41am Jan 27, 2014 7:41am
Quoting venzen
{quote} thanks for update KiwiOz. I'm still bullish but the current wave down may well be the decline you forecast.
Hi venzen. Been catching up on your posts & what you've been doing. Interesting stuff. Way over my head but interesting all the same.
Money Makes Money
  • #1,895
  • Jan 27, 2014 8:33am Jan 27, 2014 8:33am
Quoting KiwiOz
G'day Y'all. I see the weekend trading was interesting as usual. Looks we are heading down again. How far is hard to tell but I still see no Northerly targets of note. I will be interested to see where the first pullback on the 4H chart shows up. If it doesn't happen about now I expect it will around 790. This would be a good setup for a move down to 750 & then 715 comes in to play........ {image}

I can see your target near 750 get hit like this KiwiOz:

edit: i see the chart is not displaying so clearly, the two likely targets I mean to show are indicated by the blue dots - the lower target near 0.89 retracement (760) is likely after an initial wave up in a new trend. So if PA reverses there it will also be confirmation that trend change has occured. Lower means we are still correcting.

https://www.tradingview.com/x/Zay76Cib/
cryptocurrency everytime
  • #1,896
  • Jan 27, 2014 8:44am Jan 27, 2014 8:44am
Quoting KiwiOz
{quote} Hi venzen. Been catching up on your posts & what you've been doing. Interesting stuff. Way over my head but interesting all the same.

yeah KO, I tend to go nuts in my jungle laboratory every few months... this time it's creating a Bitcoin clone. Well, Litecoin actually... because Litecoin uses a different encryption algorithm than Bitcoin which means it is easier to mine. Soon I'll put a coin up for us to mine and experiment with. Whoever wants can join in and experiment - it's for fun and learning so people can try all those things they want to try with Bitcoin but are too scared to because of fear of mangling their wallet!
cryptocurrency everytime
  • #1,897
  • Jan 27, 2014 8:48am Jan 27, 2014 8:48am
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i hope this is wrong... you better hope that wave 5 is extending (1242 becomes wave 1 of 5).

weekly log chart
  • #1,898
  • Jan 27, 2014 8:59am Jan 27, 2014 8:59am
Good morning everyone,

Emptymind, I've seen this chart and done it myself many times, the two things that invalidate it would be the proportion between 1 and 3. And also that the decline started in december had nothing of the apocalypse we might expect with the end of such a cycle. But I'm curious, what's your take on the idea ?
  • #1,899
  • Jan 27, 2014 9:14am Jan 27, 2014 9:14am
the only rule is wave 3 must not be the shortest. wave 1 is around 30 points and wave 3 about 260 points .....imo, wave 5 is already done because it is more than 4 times the length of wave 1 to 3. it doesn't seem realistic that (1242) was only wave 1 of 5.... lets trust the wave count if it is correct... then we crash back to 4th wave of 1 degree lower
  • #1,900
  • Jan 27, 2014 10:14am Jan 27, 2014 10:14am
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