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Bitcoin technical analysis

  • #2,441
  • Feb 24, 2014 7:57am Feb 24, 2014 7:57am
Quoting Jmahh
{quote} Your chart is from four days ago it seems. Last date (bottom) says 20 feb..?
Your chart is of MtGox. From admiral Markets. They do not have bitcoin trading yet, just Gox charts.
For decent charts you need go to https://www.tradingview.com/e/EN6IF3SB/
If you want to trade bitcoin on a demo go to https://btc-e.com/news/183
To trade with real money go to http://www.plus500.com.au/
All confusing at this time but hope this helps.
Money Makes Money
  • #2,442
  • Feb 24, 2014 8:00am Feb 24, 2014 8:00am
Quoting KiwiOz
{quote} Your chart is of MtGox. From admiral Markets. They do not have bitcoin trading yet, just Gox charts. For decent charts you need go to https://www.tradingview.com/e/EN6IF3SB/ If you want to trade bitcoin on a demo go to https://btc-e.com/news/183 To trade with real money go to http://www.plus500.com.au/ All confusing at this time but hope this helps.

hahaa.. Just clicked on the trading view chart site in the previous site. It brought up my charts with my lines N all.
Be interesting if you get the same result.
Money Makes Money
  • #2,443
  • Feb 24, 2014 8:01am Feb 24, 2014 8:01am
My golden chariot just turned back into a pumpkin so off to bed......
Money Makes Money
  • #2,444
  • Feb 24, 2014 8:20am Feb 24, 2014 8:20am
Quoting lady_luck
{quote} 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,...
Good points, my relatively simple take was that the Gox market is heavily (primarily) influenced by the current developments at that exchange and other exchanges have no choice but to follow due to some form of arbitrage - whose workings are not actually entirely clear to me since some withdrawal functions at Gox have been disabled. I can't find other reasons as strong as arbitrage for the synchronicity of all markets (Stamp, BTC-e, Huobi, Gox)...

Kiwi, I get your chart too, I'm guessing it's simply your personal chart you're linking to

By the way bottom forming on Gox..?
  • #2,445
  • Edited 11:10am Feb 24, 2014 8:57am | Edited 11:10am
Did someone just dropped 5000btc on stamp ?
I guess, that's the perfect example of what you meant Jmahh...

As much as I wish to see a bottom (need to pay rent at some point), I really don't like all these overlaps everywhere. I know it's related to technical issues, but it's still seem significant..

edit : hmmm... so...

Mtgox technically almost reached the maximum fib for C. This advance can still be an impulse wave 1, and wave 2 still in progress.
https://www.tradingview.com/x/SjXQwjQq/

stamp invalidate that count, by making a new low, which would mean the ABC isn't over.
https://www.tradingview.com/x/l4EfGqWe/

BTCE ltc/usd is having a pretty neat diagonal, characteristic of a C wave
https://www.tradingview.com/x/RjvmiD2D/

To be honest, I think that last LTC chart matters a lot for BTC trade.
Ltc was already showing clearer sign when the A wave was over in december. Back then their was Btcchina issues.
And today again, since the LTC chart isn't affected by the Gox issue, do you think it would be worth watching to confirm BTC move ?
  • #2,446
  • Feb 24, 2014 8:57pm Feb 24, 2014 8:57pm
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........

Make that 450....
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Money Makes Money
  • #2,447
  • Feb 24, 2014 9:16pm Feb 24, 2014 9:16pm
Bitstamp leads the way ahead of Btc-e. Gox is holding on fairly well considering.......
Money Makes Money
  • #2,448
  • Feb 24, 2014 9:34pm Feb 24, 2014 9:34pm
L_L. I think you are going to see the 383 you have marked on your chart..
Money Makes Money
  • #2,449
  • Feb 24, 2014 9:42pm Feb 24, 2014 9:42pm
Btc-e 4h chart
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Money Makes Money
  • #2,450
  • Feb 24, 2014 9:49pm Feb 24, 2014 9:49pm
Bitcoin market needed some stimulation. If history means anything, BTC skyrocketed everytime it crashed. When this crash is over, $1600 here we come.
  • #2,451
  • Feb 24, 2014 9:58pm Feb 24, 2014 9:58pm
Quoting myelbow4
Bitcoin market needed some stimulation. If history means anything, BTC skyrocketed everytime it crashed. When this crash is over, $1600 here we come.
Money Makes Money
  • #2,452
  • Feb 24, 2014 11:51pm Feb 24, 2014 11:51pm
http://www.coindesk.com/mt-gox-tradi...ure-investors/
Money Makes Money
  • #2,453
  • Feb 24, 2014 11:57pm Feb 24, 2014 11:57pm
The sooner Gox disappears from the Bitcoin scene the better. Sorry venzen. hope you get yours sooner or later.
Money Makes Money
  • #2,454
  • Feb 25, 2014 6:20am Feb 25, 2014 6:20am
Hello,

I really wish for gox to meet foreclosure, but if it were to happen now, in those condition, it would be pretty bad.
When BTC and Gox where doing good, banks and nation were talking regulation. Now that the outlook is negative, banks of japan and financial institution says they want nothing to do with it.
So may either they interfere and save the day with new regulation.
Or they don't and we get what we wanted, decentralization at the cost of people loosing so much money with Gox.
Both would be equally bad for BTC.
  • #2,455
  • Feb 25, 2014 6:52am Feb 25, 2014 6:52am
I'm assuming everyone's aware Gox has halted trading. Right now it's uncertain if they still exist, stories go from acquisition through rebranding to bankruptcy. In short, we know nothing.
  • #2,456
  • Feb 25, 2014 8:54am Feb 25, 2014 8:54am
yes its dead. Gox website has disappeared and a flood of news articles are saying that mtgox is now insolvent.
F**k...was hoping it was recovering for a a bit longer.
  • #2,457
  • Feb 25, 2014 9:08am Feb 25, 2014 9:08am
what if it was all the same degree and not the nested degrees that many thought. venzen chart was great but maybe it never was that complicated. bitcoin completed a 5 wave up move and a major abc correction. look at how the market returns naturally to the 4th wave of lesser degree.... so we begin new cycle, yes?

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  • #2,458
  • Feb 25, 2014 9:16am Feb 25, 2014 9:16am
Short bitcoin 5min gratley patterm ab=cd plus moving average 200 and 300
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  • #2,459
  • Feb 25, 2014 9:28am Feb 25, 2014 9:28am
Quoting viitrader
yes its dead. Gox website has disappeared and a flood of news articles are saying that mtgox is now insolvent. F**k...was hoping it was recovering for a a bit longer.



http://www.coindesk.com/mt-gox-ceo-m...ndation-board/
  • #2,460
  • Edited 1:33pm Feb 25, 2014 10:09am | Edited 1:33pm
Quoting emptymind
what if it was all the same degree and not the nested degrees that many thought. venzen chart was great but maybe it never was that complicated. bitcoin completed a 5 wave up move and a major abc correction. look at how the market returns naturally to the 4th wave of lesser degree.... so we begin new cycle, yes? {image}
Hi,
I know, I've been considering this picture since november.
As much as their is no clear proportion in time with EW, it doesn't seem right to see a 5 wave structures of 3 year long with only a 2 month correction.

Also, Emptymind, we talked about fractals a few time, could you have a look at july2012-november2012, and tell me if you see any similitude ?

EDIT :
Ending diagonal on LTCUSD, down to 9.8.
LTCBTC is similar, "E" of triangle down to 0.0254.
So doing it backward, it gives BTCUSD at 385.8 on BTCe .
http://i.imgur.com/8nzNtvj.png

And also, to rest my eyes from charts, I put the TV on, start watching this show : http://www.cryptocoinsnews.com/2013/...set-year-2048/ and heard the words "bitcoin exchange", that's pretty funny !
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