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Bitcoin technical analysis

  • #2,521
  • Mar 7, 2014 10:40am Mar 7, 2014 10:40am
Quoting KiwiOz
{quote} I'm with you chonchy but you may see 600 first. G'Day y'all. Just popped in to see your all behaving..Havin' fun with grandkids in Tassie. With a bit of luck the present move to around 800 may be wave 1 of 5 to 1300. If so any chance of picking up cheap bitcoins are gone. {image} {image}
I think you are absolutely right KiwiOz, 600 first......good luck enjoy Tassie.....
The Chonchy
  • #2,522
  • Mar 9, 2014 9:13pm Mar 9, 2014 9:13pm
I should have buy at 600 but here I'm..........

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The Chonchy
  • #2,523
  • Mar 10, 2014 7:49am Mar 10, 2014 7:49am
Quoting chonchy
I should have buy at 600 but here I'm.......... {image}
I hear ya. I keep telling myself I should have sold my ltc at $20 and took the loss, then bought again at $13.
  • #2,524
  • Mar 11, 2014 8:07pm Mar 11, 2014 8:07pm
Hello,
Chonchy, KO, Venzen, I don't know if anyone is around, If so I might do a chart, otherwise does anyone else have a potential target around 820 coming up ?
  • #2,525
  • Mar 12, 2014 11:43am Mar 12, 2014 11:43am
Quoting lady_luck
Hello, Chonchy, KO, Venzen, I don't know if anyone is around, If so I might do a chart, otherwise does anyone else have a potential target around 820 coming up ?
Hi LL, looks like very bullish wave 1,2 and lower degree 1,2.... because wave 1 and wave 4 overlap so i don't think it's the same degree..... another clue is the usual 61.8% retracement for wave 2

Do you have a different count?
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  • #2,526
  • Mar 12, 2014 12:28pm Mar 12, 2014 12:28pm
Hello Emptymind, long time no see
Yes your chart make total sens. This could well be subwave on a advance. My only disappointment is with finding 5 subwave on lower time-frame.

I'm still thinking, do you see anything that would invalidate an ABCDE ?
That would be the most optimistic target for D, depending on how to count B and b, other target stands at 740. Looks like most abc being 5-3-5
https://www.tradingview.com/x/xQD6wP4h/
  • #2,527
  • Mar 12, 2014 12:55pm Mar 12, 2014 12:55pm
Quoting lady_luck
Hello Emptymind, long time no see Yes your chart make total sens. This could well be subwave on a advance. My only disappointment is with finding 5 subwave on lower time-frame. I'm still thinking, do you see anything that would invalidate an ABCDE ? That would be the most optimistic target for D, depending on how to count B and b, other target stands at 740. Looks like most abc being 5-3-5 {image}
if you belive this whole structure is a wave 4 then a abcde looks ok... but if you belive this whole thing is wave 2 then it would invalidate a triangle because it's not allowed to have triangles as a whole in wave 2 as you explained it to me some time ago

i belive this is wave 2 because of how btc-e & mtgox exchanges behaved during the crash.
  • #2,528
  • Mar 12, 2014 1:02pm Mar 12, 2014 1:02pm
Quoting emptymind
{quote} if you belive this whole structure is a wave 4 then a abcde looks ok... but if you belive this whole thing is wave 2 then it would invalidate a triangle because it's not allowed to have triangles as a whole in wave 2 as you explained it to me some time ago i belive this is wave 2 because of how btc-e & mtgox exchanges behaved during the crash.
Thanks for the comment.
Yeah, I've been seeing it as wave 4 for a while. And april/post-april doesn't show a satisfactory wave 1 for the cycle.
So wave 2 make sens. I guess it just depend on how much of a disclaimer the gox situation could have been for btc-e.
Surely we'll know soon now.
  • #2,529
  • Mar 13, 2014 11:08pm Mar 13, 2014 11:08pm
Quoting lady_luck
Hello, Chonchy, KO, Venzen, I don't know if anyone is around, If so I might do a chart, otherwise does anyone else have a potential target around 820 coming up ?
I'm still long, lock in profits, and I still think it may go to the purple line....

.....but it needs to cross the ema red 100, wish a hard task without bouncing down......good luck to all......

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The Chonchy
  • #2,530
  • Edited Mar 16, 2014 11:56am Mar 15, 2014 4:27pm | Edited Mar 16, 2014 11:56am
Hello everyone,

I agree with you Chonchy, 716 is a strong resistance. Hopefully it will break thru.
I also got some nice upside targets on LTC/BTC, 0.031 and may be 0.040.

Venzen, if you are still around, just read your article on execoin, sounds interesting.
Contextually Mastercoin just launch their decentralized exchange. And NXT is really starting to get interesting with their asset exchange coming out soon.
To be honest, I always consider myself a bit geeky but those new crypto development are getting really hard to understand for me.
Opensource/decentralized coin+token+asset+protocol including all ALTcoin + BTC + other, on top of each other seems to be the turn things are taking, Hopefully it will get easier to understand because it all sound like investment opportunity unless it stay a cryptic niche..
  • #2,531
  • Mar 16, 2014 11:48am Mar 16, 2014 11:48am
Quoting lady_luck
Hello everyone, I agree with you Chonchy, 716 is a strong resistance. Hopefully it will break thru. I also got some nice upside targets on LTC/BTC, 0.031 and may be 0.040. Venzen, if you are still around, just read your article on execoin, sounds interesting. Contextually Mastercoin just launch their decentralized exchange. And NXT is really starting to get interesting with their asset exchange coming out soon. To be honest, I always consider myself a bit geeky but those new crypto development are getting really hard to understand for me. Opensource/decentralized...
Uhm, sounds interesting.........have a great weekend everyone......
The Chonchy
  • #2,532
  • Mar 17, 2014 6:34pm Mar 17, 2014 6:34pm
Howdy Y'all. I'm back & Bitcoin is going nowhere on the higher time frames. Will have to switch to 5m & 15m charts to trade this now. 600 target was not quite reached but I think it may still happen. Gunna take some extreme news good or bad to achieve a major move in either direction. Interesting to see litecoin is going UP against both USD & Bitcoin.
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Money Makes Money
  • #2,533
  • Mar 17, 2014 7:13pm Mar 17, 2014 7:13pm
Quoting KiwiOz
Howdy Y'all. I'm back & Bitcoin is going nowhere on the higher time frames. Will have to switch to 5m & 15m charts to trade this now. 600 target was not quite reached but I think it may still happen. Gunna take some extreme news good or bad to achieve a major move in either direction. Interesting to see litecoin is going UP against both USD & Bitcoin. {image}
Hello,
Nice to see you are back
How was Tasmania ?

I think BTC and LTC have been struggling with slightly different corrective structures.
While BTC is struggling with the fib 0.5 from "3" and fib 0.38 from "B", LTC is respectively facing fib 0.38 of "3" and 0.23 of "b" (which respectively appeared as weaker resistance).

https://www.tradingview.com/x/HRebssws/




Or it might just be Huobi fever...
  • #2,534
  • Mar 17, 2014 7:39pm Mar 17, 2014 7:39pm
Quoting lady_luck
{quote} Hello, Nice to see you are back How was Tasmania ? I think BTC and LTC have been struggling with slightly different corrective structures. While BTC is struggling with the fib 0.5 from "3" and fib 0.38 from "B", LTC is respectively facing fib 0.38 of "3" and 0.23 of "b" (which respectively appeared as weaker resistance). {image} Or it might just be Huobi fever...
Hidehi L_L......Tassie as great as usual.......Huobi fever.???????
Money Makes Money
  • #2,535
  • Mar 17, 2014 7:48pm Mar 17, 2014 7:48pm
Good read
http://www.coindesk.com/taxonomy-bit...-policymakers/
Money Makes Money
  • #2,536
  • Mar 17, 2014 8:13pm Mar 17, 2014 8:13pm
Quoting KiwiOz
{quote} Hidehi L_L......Tassie as great as usual.......Huobi fever.???????
Yeah, BTCHINA early march and Huobi tomorrow will start trading LTC. These are two big chinese exchanges.

This is very good read you quoted, I've been hearing about zerocoin. There is also a darkcoin or blackcoin, may be even both with anonymity (and their ridiculous name) purpose only.
Crypto are going a bit everywhere and nowhere are the moment. I don't know you, but all these alts popping everywhere with obscure purposes, seems to be a good way to elude the search for solution to the issues of the functionality 1.0 of crypto. Such as transparency from exchanges and ease of use as a currency.
  • #2,537
  • Mar 18, 2014 1:13am Mar 18, 2014 1:13am
Anyone trading altcoins on Btc-e MT4..?? Take a look at namecoin & peercoin. From a traders perspective they are great fro trading.
Money Makes Money
  • #2,538
  • Mar 18, 2014 4:49am Mar 18, 2014 4:49am
Litecoin heading North..Will Bitcoin follow.??
Money Makes Money
  • #2,539
  • Edited 5:27am Mar 18, 2014 4:59am | Edited 5:27am
Quoting KiwiOz
Litecoin heading North..Will Bitcoin follow.??
Litecoin was adopted onto some asian exchanges so probably has an extra boost that wont really affect BTC as much as weve seen before (my guess anyway).

edit: http://www.coindesk.com/chinese-exch...ding-litecoin/
  • #2,540
  • Edited 7:45am Mar 18, 2014 6:35am | Edited 7:45am
Quoting KiwiOz
Litecoin heading North..Will Bitcoin follow.??
I think it's possible, what are you target for ltc/btc ? I said 0.031 before , I think may be a bit lower than that. May be 0.0307.
But LTC/USD... has more room up, so it could well mean btc/usd going up alongside after visiting 590 ?
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