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Bitcoin technical analysis

  • #2,221
  • Feb 11, 2014 5:54pm Feb 11, 2014 5:54pm
Quoting infinitus
{quote} Hey Chonchy, all the best to you and get well soon. One can not leave you "kids" alone Hope you are in good hands...........
What are you doing outa bed. Isn't it after midnight there ??
Money Makes Money
  • #2,222
  • Feb 11, 2014 6:06pm Feb 11, 2014 6:06pm
Quoting KiwiOz
{quote} Yesterday I put my major ABC exactly where you have. EW wise where does that put wave D in your opinion.??
I have either 790 or 815 for D, depending where the extension happens, if it's the fifth (more-likely) then 790.
What about you ?

By the way, you made a really good comment about alt and Joe Blow, painting the picture of the BTC population is interesting. You got traders, computer kids, geeks, hackers, business... If you have a read at bitcoin dedicated forum, like bitcointalk, you'll see many Joe Blow in alt and in BTC

Chonchy, I hope you are doing Ok, at least you keep on the smile

PS : kiwioz, have you google Joe Blow, did you know there is a rapper going by that name ?
  • #2,223
  • Feb 11, 2014 6:17pm Feb 11, 2014 6:17pm
Quoting lady_luck
{quote} I have either 790 or 815 for D, depending where the extension happens, if it's the fifth (more-likely) then 790. What about you ? By the way, you made a really good comment about alt and Joe Blow, painting the picture of the BTC population is interesting. You got traders, computer kids, geeks, hackers, business... If you have a read at bitcoin dedicated forum, like bitcointalk, you'll see many Joe Blow in alt and in BTC

I know but they are not the general "man in the street" It is amazing most people in the world have never heard of Bitcoin. If I was not a trader & had not been skimming through the forum, I would not know of it either.

Wave D......I have it at around 1080..
Money Makes Money
  • #2,224
  • Feb 11, 2014 6:40pm Feb 11, 2014 6:40pm
Quoting KiwiOz
{quote} I know but they are not the general "man in the street" It is amazing most people in the world have never heard of Bitcoin. If I was not a trader & had not been skimming through the forum, I would not know of it either. Wave D......I have it at around 1080..
I know, I think the next step will be for the current btc owner to start actually using them, and may be after that, with less ponzi and tulip words floating around, we'll have regular people seeing how it's possibly a paypal/western union/saving account/401k 2.0
  • #2,225
  • Feb 11, 2014 7:16pm Feb 11, 2014 7:16pm
How weird is this.
Peercoin.........Doesn't seem to exist before Dec 2013...But..Excluding the first 2 weeks shown on the chart, the rest looks just like Bitcoin charts.??????????
Attached Image (click to enlarge)
Click to Enlarge Name: download (5).png Size: 39 KB
Money Makes Money
  • #2,226
  • Feb 11, 2014 7:25pm Feb 11, 2014 7:25pm
Quoting lady_luck
{quote} I know, I think the next step will be for the current btc owner to start actually using them, and may be after that, with less ponzi and tulip words floating around, we'll have regular people seeing how it's possibly a paypal/western union/saving account/401k 2.0
Your right...Just gotta give it time..Once all the BS & uncertainty is over.
Money Makes Money
  • #2,227
  • Feb 11, 2014 7:27pm Feb 11, 2014 7:27pm
Quoting lady_luck
{quote} I know, I think the next step will be for the current btc owner to start actually using them, and may be after that, with less ponzi and tulip words floating around, we'll have regular people seeing how it's possibly a paypal/western union/saving account/401k 2.0
What's your take on the other major altcoins..Are they worth investing in instead of Bitcoin.??
Money Makes Money
  • #2,228
  • Feb 11, 2014 7:28pm Feb 11, 2014 7:28pm
Quoting KiwiOz
{quote} What's your take on the other major altcoins..Are they worth investing in instead of Bitcoin.??
Hey Chonchy. Isee your on line...Nothing wrong with you.. Just faking it to get attention..
Money Makes Money
  • #2,229
  • Feb 11, 2014 7:33pm Feb 11, 2014 7:33pm
Quoting KiwiOz
{quote} Hey Chonchy. All the best mate. Hope you recover quick... At least now you will have an excuse to sit in front of you "Poota" all day trading & chatting...
je, je I'm all better now and I'm already working at the house, this life is like this, live or die, lol, but I'm Ok thanks to all here....
The Chonchy
  • #2,230
  • Feb 11, 2014 7:35pm Feb 11, 2014 7:35pm
Quoting KiwiOz
{quote} Hey Chonchy. Isee your on line...Nothing wrong with you.. Just faking it to get attention..
lol, just finish watering the patio after the workers left, they come and install one window or one door a day, oh well they are the ones that have me with the high blood pressure, lol......
The Chonchy
  • #2,231
  • Feb 11, 2014 7:37pm Feb 11, 2014 7:37pm
Quoting infinitus
{quote} Hey Chonchy, all the best to you and get well soon. One can not leave you "kids" alone Hope you are in good hands...........
.....Thanks infinitus, I'm all better now, thanks......I have to stop eating and drinking disorderly and exercising more......
The Chonchy
  • #2,232
  • Feb 11, 2014 7:43pm Feb 11, 2014 7:43pm
Quoting lady_luck
{quote} I have either 790 or 815 for D, depending where the extension happens, if it's the fifth (more-likely) then 790. What about you ? By the way, you made a really good comment about alt and Joe Blow, painting the picture of the BTC population is interesting. You got traders, computer kids, geeks, hackers, business... If you have a read at bitcoin dedicated forum, like bitcointalk, you'll see many Joe Blow in alt and in BTC Chonchy, I hope you are doing Ok, at least you keep on the smile PS : kiwioz, have you google Joe Blow, did you...

Thanks lady_luck I'm, all right now thanks God but it was scary when I saw my face like this, lol........

http://www.picturesof.net/_images_30...415-245053.jpg
The Chonchy
  • #2,233
  • Feb 11, 2014 7:46pm Feb 11, 2014 7:46pm
Quoting KiwiOz
{quote} What's your take on the other major altcoins..Are they worth investing in instead of Bitcoin.??
Investing ? No. None of them are worth a long term bet. Some charts and concept are worth throwing money at, just in case. Some might stay most won't.
Have a look here http://coinmarketcap.com/ for like a month, follow a few link and find your personal favorites.

Megalomaniac coin, sorry, I meant Maxcoin, as in Max Keizer, coin just came out. The dude unfortunately got his church set up, some sheep might buy.
Dogecoin, seems pretty popular atm and user friendly.
Quark... Wasn't that MAXcoin already ?
NVC, scamcoin on the concept and by reputation, but it has been around a while, and always kept pretty stable.
My self I got a few btc worth of NXT, I don't know, just had a LTC feeling with it.

Honestly, playing BTC/USD, LTC/USD, LTC/BTC already required two of my brains, so altcoin are more buy and forget and check in 6month hat's up.
  • #2,234
  • Feb 11, 2014 8:40pm Feb 11, 2014 8:40pm
Quoting lady_luck
{quote} Honestly, playing BTC/USD, LTC/USD, LTC/BTC already required two of my brains, so altcoin are more buy and forget and check in 6month hat's up.
Lady Luck... we talk about EW / Charts in here but I'm curious long term what do you feel BTC will do, and probably drag some other altcoins along the way?

I really see BTC becoming a staple in commerce here in the US and abroad.

Possibly become massively accepted and used in some unstable countries (Argentina?) and get more mainstream media about how it can help solve quite a few problems that fiat has.

Pricewise, I honestly have no idea though... I have heard some pretty lofty numbers being thrown around but those are like opinions lol... Everyone has one

I do think that as companies accept it for payment and immediately convert to cash it will do two things... provide more stability to the pricing and also add down pressure. For example (and I'm not sure if I 100% understand this) when someone buys something on Overstock with BTC immediately after the transaction is made Overstock converts that BTC to fiat.

They are essentially using it as another payment method which in this case I feel they are "serving their customer" and giving them one more way to buy - kudo's by the way for doing that!

I wonder if the more this happens the more steady downward pressure will be put on the markets? We have seen some very sideways trending markets (minus the weird drop two days ago) and even in the sideways trend if you look at it, it is slowly trending down.

I think this might be due to the selling pressure from BTC to fiat by companies like Overstock.

Would love to see what others thing about "all of this".

Masalai
  • #2,235
  • Feb 11, 2014 8:48pm Feb 11, 2014 8:48pm
So has anyone's money been tied up in the Bitcoin withdrawing debacle? One of the main fears that led me not to trade. Apparently two exchanges, including the largest one, are freezing accounts or whatnot.

Bitcoin might be a fun speculative tool, but it's a long way from being a stable asset, let along money.
When the facts change I change my mind, what do you do sir
  • #2,236
  • Feb 11, 2014 10:07pm Feb 11, 2014 10:07pm
Quoting Pip Anon
So has anyone's money been tied up in the Bitcoin withdrawing debacle? One of the main fears that led me not to trade. Apparently two exchanges, including the largest one, are freezing accounts or whatnot. Bitcoin might be a fun speculative tool, but it's a long way from being a stable asset, let along money.
Which 2 exchanges are you talking about? Gox is the only one that I know of that has suspended withdrawals lately. That's part of the problem we are having with Bitcoin. People hear or start rumors, pass them off as fact, then it just grows from there until everyone believes it. When investing in bitcoin, it's important to do your own research and check sources to separate fact from fiction. If we didn't have so many rumors being passed off as fact right now, the price of btc would be a lot higher.
  • #2,237
  • Feb 11, 2014 10:10pm Feb 11, 2014 10:10pm
And queue the drum crash! Just saw the news pop up about Bitstamp, I've been on the road driving most of the day so I missed that one. Must be the reason I saw prices dropping today, was wondering what was going on. That's a shame, I need the price to go up a little, I'm still $800 in the red!
  • #2,238
  • Feb 11, 2014 11:28pm Feb 11, 2014 11:28pm
http://www.coindesk.com/new-york-reg...al+Currency%29

http://www.coindesk.com/aria-pc-tech...al+Currency%29

http://www.coindesk.com/pros-cons-bi...al+Currency%29
The Chonchy
  • #2,239
  • Feb 11, 2014 11:44pm Feb 11, 2014 11:44pm
Quoting dcramer16
And queue the drum crash! Just saw the news pop up about Bitstamp, I've been on the road driving most of the day so I missed that one. Must be the reason I saw prices dropping today, was wondering what was going on. That's a shame, I need the price to go up a little, I'm still $800 in the red!
Regardless of "news" etc etc etc "Technically" if bitcoin is to follow technical paths on the charts another drop to around 600 is called for. If you own bitcoins or just trade them forex style, Do not be alarmed. It is just a normal correction before the next leg up which should be around 1100 for wave 3 & 1300 for wave 5.
Nothing is ever in concrete so one step at a time.
Money Makes Money
  • #2,240
  • Feb 12, 2014 12:10am Feb 12, 2014 12:10am
Quoting dcramer16
{quote} Which 2 exchanges are you talking about? Gox is the only one that I know of that has suspended withdrawals lately. That's part of the problem we are having with Bitcoin. People hear or start rumors, pass them off as fact, then it just grows from there until everyone believes it. When investing in bitcoin, it's important to do your own research and check sources to separate fact from fiction. If we didn't have so many rumors being passed off as fact right now, the price of btc would be a lot higher.
Bitstamp got hit, but I know there have been several other smaller ones were hackers stole bitcoins (it may have been out of wallets). The whole network is so confusing, it's hard to follow for me lol.

They were hit with a DOS attack, they say funds weren't at risk
When the facts change I change my mind, what do you do sir
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