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Bitcoin technical analysis

  • #2,421
  • Feb 23, 2014 10:15pm Feb 23, 2014 10:15pm
Quoting KiwiOz
{quote} hahaa..Cheers L_L. I put a different count on the chart & came up with the same end result. Only thing in question is the pullback. If your count so far is correct, the pullback is over. If not I get the pullback to 569..... {image}

566...Bugga that cost me 3 pips..Lol.........
Money Makes Money
  • #2,422
  • Feb 23, 2014 11:43pm Feb 23, 2014 11:43pm
Quoting KiwiOz
{quote} 566...Bugga that cost me 3 pips..Lol.........
Hi Kiwi, can you explain what kind of analysis you used in your previous post? I can't seem to replicate those indicators in the chart.
  • #2,423
  • Feb 24, 2014 12:17am Feb 24, 2014 12:17am
Quoting KiwiOz
{quote} 566...Bugga that cost me 3 pips..Lol.........
If this keeps going down,,Forget the ABC
Money Makes Money
  • #2,424
  • Feb 24, 2014 2:07am Feb 24, 2014 2:07am
Hi KO,

The weekend trade is being retraced... wonder if price will bounce at Friday's close around 550 or continue lower to your 480 target?

The arching shape downwards looks very much like the shape that BTC uses to end a decline, doesn't it?

MtGox's Karpeles resigned as board member of the Bitcoin Foundation today. Gox cleared their entire twitter feed... it all means 2 things: either they're about to enable withdrawals and restart operations from a clean slate or they're clearing evidence before the lawsuits start coming in... who knows? I've got BTC in there so i want them to continue obviously.
cryptocurrency everytime
  • #2,425
  • Feb 24, 2014 3:08am Feb 24, 2014 3:08am
Quoting venzen
Hi KO, The weekend trade is being retraced... wonder if price will bounce at Friday's close around 550 or continue lower to your 480 target? The arching shape downwards looks very much like the shape that BTC uses to end a decline, doesn't it? MtGox's Karpeles resigned as board member of the Bitcoin Foundation today. Gox cleared their entire twitter feed... it all means 2 things: either they're about to enable withdrawals and restart operations from a clean slate or they're clearing evidence before the lawsuits start coming in... who knows? I've...

Hi venen. Sorry to hear you have bitcoins in Gox. Hope it pans out ok for you.
Bitcoin at the cross roads. Hard to say if the move to 700 or 400 is on at the moment. Gunna be interesting next 12 hrs.
Money Makes Money
  • #2,426
  • Feb 24, 2014 3:12am Feb 24, 2014 3:12am
Quoting Jmahh
{quote} Hi Kiwi, can you explain what kind of analysis you used in your previous post? I can't seem to replicate those indicators in the chart.
Hi Jmahh. That's cos they are hand drawn. I use the DeMark system (my way) Cheers. You can download the basics of the system from my profile files.
Money Makes Money
  • #2,427
  • Feb 24, 2014 3:20am Feb 24, 2014 3:20am
Quoting KiwiOz
{quote} Hi venen. Sorry to hear you have bitcoins in Gox. Hope it pans out ok for you. Bitcoin at the cross roads. Hard to say if the move to 700 or 400 is on at the moment. Gunna be interesting next 12 hrs.
Normally I would be looking for a continuation down, but I keep going back to the ABC set-up I was discussing with L_L. Another couple of hours may see the direction clarified.
Money Makes Money
  • #2,428
  • Feb 24, 2014 3:22am Feb 24, 2014 3:22am
Quoting KiwiOz
{quote} Hi Jmahh. That's cos they are hand drawn. I use the DeMark system (my way) Cheers. You can download the basics of the system from my profile files.
Cheers!
  • #2,429
  • Feb 24, 2014 4:32am Feb 24, 2014 4:32am
Quoting KiwiOz
{quote} Normally I would be looking for a continuation down, but I keep going back to the ABC set-up I was discussing with L_L. Another couple of hours may see the direction clarified.
This makes the GOX scenario (Fiasco) all the more interesting. Bitstamp & Btc-e down to 500 takes Gox to 50. Bitstamp & Btc-e up to 700 takes Gox up to 500........
Money Makes Money
  • #2,430
  • Feb 24, 2014 5:22am Feb 24, 2014 5:22am
Quoting KiwiOz
{quote} This makes the GOX scenario (Fiasco) all the more interesting. Bitstamp & Btc-e down to 500 takes Gox to 50. Bitstamp & Btc-e up to 700 takes Gox up to 500........
I'm closely monitoring the Gox IRC and over the past hours several people affiliated with the company have stated there are no solvency issues and the "coins are safe". I don't think Gox is evil, however the company has major communication issues - something which employees acknowledge (one of them said the problems had something to do with senior management). Sounds like a management shakeup wouldn't hurt...
  • #2,431
  • Feb 24, 2014 5:27am Feb 24, 2014 5:27am
Attached Image
Nil desperandum
  • #2,432
  • Feb 24, 2014 5:29am Feb 24, 2014 5:29am
Quoting vincentprice
{image}
Money Makes Money
  • #2,433
  • Feb 24, 2014 5:55am Feb 24, 2014 5:55am
Quoting Jmahh
{quote} I'm closely monitoring the Gox IRC and over the past hours several people affiliated with the company have stated there are no solvency issues and the "coins are safe". I don't think Gox is evil, however the company has major communication issues - something which employees acknowledge (one of them said the problems had something to do with senior management). Sounds like a management shakeup wouldn't hurt...

is this enough of a shakeup

http://www.forexfactory.com/news.php?do=news&id=472464
Mt. Gox's CEO resigns from Bitcoin Foundation
http://www.forexfactory.com/attachme...1&d=1393241143
From reuters.com
http://www.forexfactory.com/resource...tory-quote.png
Mark Karpeles, chief executive of Mt. Gox, the embattled Toyko-based bitcoin exchange, resigned on Sunday from the board of the Bitcoin Foundation, in the latest blow to the digital currency. Jinyoung Lee Englund, a spokesperson for the Bitcoin Foundation - a trade group promoting the adoption of the digital currency, confirmed the news and said the resignation was effective immediately. The resignation follows a number of technical issues, including a massive cyber attack from unknown sources that has been spamming bitcoin exchanges. Earlier in February, Mt. Gox, the best-known digital marketplace operator, said it is halting ... (full story)
Wooooohooooo or Boooooohooooo
  • #2,434
  • Feb 24, 2014 6:15am Feb 24, 2014 6:15am
Quoting gnomoneey
{quote} is this enough of a shakeup http://www.forexfactory.com/news.php?do=news&id=472464 Mt. Gox's CEO resigns from Bitcoin Foundation {image} From reuters.com {image} Mark Karpeles, chief executive of Mt. Gox, the embattled Toyko-based bitcoin exchange, resigned on Sunday from the board of the Bitcoin Foundation, in the latest blow to the digital currency. Jinyoung Lee Englund, a spokesperson for the Bitcoin Foundation - a trade...
It's not, since this only concerns the Bitcoin Foundation and not Mt.Gox. They are two completely separate entities. It was a responsible thing to do.
  • #2,435
  • Feb 24, 2014 6:45am Feb 24, 2014 6:45am
Hello everyone,

Venzen, sorry to hear about your goxbtc, someone (i think KO or dcramer16) posted this https://www.bitcoinbuilder.com/, i registered, and it got some pretty good chart to play. Honestly, I believe Gox won't close down yet, may be next time... So their might be something to play here. If this advance was neither subwave 1 and 3, nor an ABC, it still could have been a completed wave 1. What do you think ?

Kiwioz,
Quote
566...Bugga that cost me 3 pips..Lol.........
, i lost it laughing ! I'll have some coffee and try to update the chart, I need to look at other exchange than stamp, we got some variation on the other exchanges. Kinda look like it's gox bringing up the other exchanges...

Jmahh, welcome here, good observation and sens of the gox situation, I agree in the regard of their solvency issue, i think they have the BTC and liquidity, but are bank stuck. To get money in and out. Also gox still own some of the largest wallet on the blockchain, so if this were to go to court, they would be able to pay back the victims.
  • #2,436
  • Feb 24, 2014 7:12am Feb 24, 2014 7:12am
hello there, just want to ask
is this chart is the same bitcoin price chart in this thread?
why there is bigg difference?
http://charts.mql5.com/3/984/btcusd-...markets-as.png
14QDuJtV7okxhBzC86FwawaR6tV5LvetLq
  • #2,437
  • Feb 24, 2014 7:16am Feb 24, 2014 7:16am
Quoting lady_luck
Hello everyone, Venzen, sorry to hear about your goxbtc, someone (i think KO or dcramer16) posted this https://www.bitcoinbuilder.com/, i registered, and it got some pretty good chart to play. Honestly, I believe Gox won't close down yet, may be next time... So their might be something to play here. If this advance was neither subwave 1 and 3, nor an ABC, it still could have been a completed wave 1. What do you think ? Kiwioz, {quote}, i lost it laughing ! I'll have some coffee and try to update the chart, I need to look at other exchange...
Hi Lady, thanks for the welcome! There's a lot of fear among Gox users right now, much more than I think is needed. One of the things I wonder is why all of you are looking at Stamp charts if it's clear Gox is the market-mover of the moment? We did have an interesting divergence between those a couple of hours ago but that's not generally the case. Not that Kiwi's forecasts weren't accurate..!
  • #2,438
  • Feb 24, 2014 7:17am Feb 24, 2014 7:17am
Quoting ud1nh0
hello there, just want to ask is this chart is the same bitcoin price chart in this thread? why there is bigg difference? {image}
Your chart is from four days ago it seems. Last date (bottom) says 20 feb..?
  • #2,439
  • Feb 24, 2014 7:21am Feb 24, 2014 7:21am
Quoting Jmahh
{quote} Your chart is from four days ago it seems. Last date (bottom) says 20 feb..?
yes, 02.21 00.00 at the candle
14QDuJtV7okxhBzC86FwawaR6tV5LvetLq
  • #2,440
  • Feb 24, 2014 7:37am Feb 24, 2014 7:37am
Quoting Jmahh
{quote} Hi Lady, thanks for the welcome! There's a lot of fear among Gox users right now, much more than I think is needed. One of the things I wonder is why all of you are looking at Stamp charts if it's clear Gox is the market-mover of the moment? We did have an interesting divergence between those a couple of hours ago but that's not generally the case. Not that Kiwi's forecasts weren't accurate..!
This is a very interesting topic, knowing which exchange is leading PA, why, and what's the impact, is complex.
Also, what tool are to be use to know ?
I don't really have a straight answer to give. And I've been looking at those BTC charts for a long time now..

As for a few facts, the BTC volume is higher on gox, but not the USD volume, huobi and Gox seems to have swings with more amplitude, but stamp charts is the one making more sens in TA...

I can't say for sure if gox is leading the move, or to what extend, I like to look at all exchanges, sometimes it's easier to pick something clearer on one of them...

So, looking at stamp make sens, since gox is victim of outside circumstances influences the prices (quasi impossibilty to buy/sell atm).
Huobi, seems also relevant, the structure of the move is very close to Gox, with both high volume in BTC and CNY, and hasn't done any move outside of the chart yet.

What about you, what's your take on the situation ?
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