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Bitcoin technical analysis

  • #2,461
  • Feb 25, 2014 6:35pm Feb 25, 2014 6:35pm
Quoting KiwiOz
The sooner Gox disappears from the Bitcoin scene the better. Sorry venzen. hope you get yours sooner or later.
Agreed. Very sorry Venzen, I hope you are able to get out of this mess untouched. But Gox needs to disappear. I think as soon as it does, the price will explode again. The price is still maintaining pretty decent all things considered. It looks like people are just waiting to see how this Gox mess clears up, then it's back to "da moon". Long term it's a huge opportunity to buy cheap coins. Short term it's not so good, who knows how long this is going to last. Another week, a month, 6 months? As soon as I take the extra money I need to build that fence around my backyard, I'm going to resume putting every spare dollar I have into Bitcoin.
  • #2,462
  • Feb 25, 2014 7:21pm Feb 25, 2014 7:21pm
Have to agree with this comment from...Shaun Hanner..

Mt Gox has absolutely no credibility. Nobody should take anything they say as fact, nor should any leaked information, whether genuine or fictitious, be given any credibility. Anybody with even a crude understanding of finance could see this coming -- the BTC value on Mt Gox compared to the other exchanges alone smacks of ponzi. Only the public ledger can ultimately tell us where the BTC went, don't buy this malleability issue for a second. Gox had a problem, they knew about it, they tried to game the market price of BTC for as long as they could and when that became unsustainable they halted withdrawls, then halted trading. They inflated their BTC price to draw in coins, they then lowered it to play the other side of the arbitrage coin again creating an influx of coins and it all evaporated. Only 2,000 coins in the wallet and no cold storage? The CEO of Mt Gox is a criminal. They will move to Singapore to avoid criminal prosecution. People should distance themselves from Gox, the CEO and any attempt to rebrand this atrocity.
Money Makes Money
  • #2,463
  • Feb 25, 2014 8:30pm Feb 25, 2014 8:30pm
Mt. Gox receives subpoena from federal prosecutor - WSJ http://www.reuters.com/article/2014/...0LV0UZ20140226
  • #2,464
  • Feb 25, 2014 8:47pm Feb 25, 2014 8:47pm
This is the way customer service should be handled. I trade at Btc-e, and the owner of the site came on the chatbox today himself and answered questions and assured customers that our security is safe. Then issued this statement...

BTC-e Statement regarding MtGox possible insolvency
25.02.14 17:31 from admin
Dear BTC-e.com participants,

We are concerned by MtGox shutdown and would like to assure you that:

1. MtGox losses do not affect account balances or the operation of BTC-e in any way.

2. We confirm the Bitcoin system operation and its exciting prospects, and MtGox bankruptcy has not been caused by any underlying technical problems of Bitcoin. Bitcoin international peer-to-peer network and cryptocurrency are independent of actions of a single market participant. Bitcoin protocol continues to function exactly as it should. The cryptocurrency maintains its stability and the network will continue to develop and exist as long as required by its users.

3. At BTC-e we are constantly monitoring Bitcoin accounts and FIAT reserves. At BTC-e we continue to maintain all clients’ assets in full – both Bitcoin and FIAT.

4. BTC-е has no vulnerabilities during client transactions as we use safe and proven transaction protocols. All transaction issues reported by our clients undergo a thorough check.


The safety of client funds and transactions is of ultimate importance for the company, and this is the reason why we have been an industry leader for the last three years.

1. BTC-е is at its peak of financial strength with the record levels of clients and capital adequacy. The company plans to start publishing financial statements, verified by an external audit, on a regular basis.

2. The highest levels of security are already in place at BTC-e, and the company regularly uses external professional advice to further increase the security of our clients.

3. BTC-e is the only exchange to offer a modern trading platform, MetaTrader 4, to its clients, and many other exciting projects and further upgrades are in the pipeline.

The company plans to soon begin to publish publicly available statements certified by external auditors.


Now that's the way customer service should be. I am sooooooo glad I chose this trading site.
  • #2,465
  • Feb 25, 2014 9:52pm Feb 25, 2014 9:52pm
Feb 25 (Reuters) - Bitcoin exchange Mt. Gox has received a subpoena from federal prosecutors in New York, the Wall Street Journal reported, citing a person familiar with the matter.
Mt. Gox, once the world's biggest bitcoin exchange, abruptly stopped trading on Tuesday and its chief executive said thebusiness was at "a turning point," sparking concerns about the future of the unregulated virtual currency.
The subpoena was sent this month and asked Mt. Gox to preserve certain documents among other things, the Journal said.
Money Makes Money
  • #2,466
  • Feb 25, 2014 10:27pm Feb 25, 2014 10:27pm
Quoting dcramer16
This is the way customer service should be handled. I trade at Btc-e, and the owner of the site came on the chatbox today himself and answered questions and assured customers that our security is safe. Then issued this statement... BTC-e Statement regarding MtGox possible insolvency 25.02.14 17:31 from admin Dear BTC-e.com participants, We are concerned by MtGox shutdown and would like to assure you that: 1. MtGox losses do not affect account balances or the operation of BTC-e in any way. 2. We confirm the...

Hi dcramer16. I take it you are using Btc-e MT4 to trade.??
I'm using Plus500 that has Btc-e feed, but I a going to swap over to Btc-e account with MT4.
Money Makes Money
  • #2,467
  • Feb 25, 2014 10:29pm Feb 25, 2014 10:29pm
Quoting Nitsan_Levi
Short bitcoin 5min gratley patterm ab=cd plus moving average 200 and 300 {image}

Welcome Nitsan_Levi... The more "chartists" we have the better.
Money Makes Money
  • #2,468
  • Feb 26, 2014 4:08am Feb 26, 2014 4:08am
This may not work out but it's how I see it at the moment. There's still a chance of sub 400........
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Money Makes Money
  • #2,469
  • Feb 26, 2014 4:09am Feb 26, 2014 4:09am
Where is everybody..?????????????
Money Makes Money
  • #2,470
  • Feb 26, 2014 6:10am Feb 26, 2014 6:10am
Quoting KiwiOz
{quote} Hi dcramer16. I take it you are using Btc-e MT4 to trade.?? I'm using Plus500 that has Btc-e feed, but I a going to swap over to Btc-e account with MT4.
To be honest, I haven't had MT4 installed. To be even more honest, I didn't even know it was an option, lol. I was using the chart on bitcoinwisdom.com and just trading off the Btc-e page. I installed MT4 though and am looking at it now. Holy Hell, it looks complicated!
  • #2,471
  • Feb 26, 2014 6:30am Feb 26, 2014 6:30am
So I have a question now. How do I get my MT4 setup to look like bitcoin wisdom. I will post pictures here so you know what I'm talking about as I do not know all the technical terms. If you look at my bitcoinwisdom chart, underneath the main chart you will see a middle section with red and green bars. I'm assuming this is volume of either selling or buying depending on if it's red or green. Then the bottom section of the chart has the blue and tan line that when they cross over indicates a trend change. On my second picture you will see I don't have any of this. What options can I choose to get my MT4 set up more like my bitcoinwisdom chart?
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  • #2,472
  • Edited 6:52am Feb 26, 2014 6:39am | Edited 6:52am
Yeah, I'm not sure if I can get this MT4 to work out. There's too many complicated settings. I can replicate the blue and tan line at the top of my by bitcoinwisdom chart or the blue and tan line on the bottom trend chart either
  • #2,473
  • Feb 26, 2014 6:43am Feb 26, 2014 6:43am
Not sure if this is helpful or not. Here's a picture of the indicator settings for bitcoinwisdom.
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  • #2,474
  • Feb 26, 2014 6:59am Feb 26, 2014 6:59am
Quoting dcramer16
So I have a question now. How do I get my MT4 setup to look like bitcoin wisdom. I will post pictures here so you know what I'm talking about as I do not know all the technical terms. If you look at my bitcoinwisdom chart, underneath the main chart you will see a middle section with red and green bars. I'm assuming this is volume of either selling or buying depending on if it's red or green. Then the bottom section of the chart has the blue and tan line that when they cross over indicates a trend change. On my second picture you will see I don't...
You have a bit of a learning curve to circumvent...Lol. Never mind with a bit of playing around you will get it right. Lots of indicators to choose from.
To get the volume bars at bottom of screen, right click on chart & click on volumes.
Off to bed. Sorry but off to Tasmania in the morning so posting will be spasmodic for a couple of weeks.
Ask any questions on MT4 & I will answer them whenever I log in on my Son's "Poota"
Go back a page & you will see a MT4 chart I posted.
Any special indicators you want I can probably point you to them
Cheers
Money Makes Money
  • #2,475
  • Feb 26, 2014 7:04am Feb 26, 2014 7:04am
Looks like todays target is the daily Pivot.
BTC-e 1h MT4 chart.
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Money Makes Money
  • #2,476
  • Edited 9:41am Feb 26, 2014 8:21am | Edited 9:41am
Quoting KiwiOz
Where is everybody..?????????????
Here, just waking-up
Nice charts, KO once again I'm with ya on this up move.

Here's a quote found from bitcoinnity (charts) :
Quote
There was some discussion today that started around here: http://www.reddit.com/r/Bitcoin/comm...ox_was/cfkze3p and here's some more explanation: https://iwilcox.me.uk/v/nofrac
TL;DR exchanges can prove that:

  1. they own specific amount of bitcoins
  2. and that your bitcoins on their exchange are included in this amount

But they are not doing this yet. I'd like to do something towards changing this.


Many will ask for regulation measures, the subpoena and leaks are respectively outdated and unverified. Their is a difference between regulating BTC and regulating exchanges. I doubt officials are interested in going forward with regulating exchanges, their is more to lose in protecting customers when their is profit in exploiting BTC.
I was trying to flip the situation, if the the accusations and speculations against Gox were to be true, their actual reaction isn't making sens. To me the pieces don't fit at all.
One thing we've learned with sheepmarketscam, BMR, silkroad and other past BTC related shutdown and scams, is how difficult it can be to run away with stolen BTC.
Whatsoever, BTC isn't at cause, only this one Enron-like company.

Among rumors and facts, the questions I have is why would Gox CEO resign from the btc board and draw attention to himself, why would gox relocate, why buying an almost identical new domain name "gox", why not reacting to the presume internal leak, why shutting down their platform, what happened to "gox fees wallet", if BTC where going in they had to go out but where on the blockchain ? Those things don't add up with the criminal act they are accused of.
  • #2,477
  • Feb 26, 2014 4:59pm Feb 26, 2014 4:59pm
Here is an ignorant Senator..... http://www.cryptocoinsnews.com/2014/...o-ban-bitcoin/
  • #2,478
  • Feb 26, 2014 5:59pm Feb 26, 2014 5:59pm
Quoting lady_luck
{quote} Here, just waking-up Nice charts, KO once again I'm with ya on this up move. .
You may have to wait awhile......This may well move on up from here, maybe not. If the ABC plays out there is a good chance B will go all the way to 425 Bitstamp / 460 Btc-e.........Still a lot of indecision & concern in the Bitcoin community......
Off to Tassie. catch up in a coupla days.
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Money Makes Money
  • #2,479
  • Feb 26, 2014 11:27pm Feb 26, 2014 11:27pm
Quoting KiwiOz
{quote} You may have to wait awhile......This may well move on up from here, maybe not. If the ABC plays out there is a good chance B will go all the way to 425 Bitstamp / 460 Btc-e.........Still a lot of indecision & concern in the Bitcoin community...... Off to Tassie. catch up in a coupla days. {image}
farewell buddy, have a good one, enjoy your trip...........we will be here, as well as BTC......
The Chonchy
  • #2,480
  • Feb 27, 2014 9:07am Feb 27, 2014 9:07am
Quoting lady_luck
{quote} 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 . {image} And also, to rest my eyes...
pls take a look at 1987 dow chart. something similar in time compared to what happened to bitcoin. it was climbing for 4 years and corrected in about 2 months........
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closeup of correction.......
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i could not see anything fractaly between jul-nov2012
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