Bitcoin technical analysis

Hello,
I don't see any reason, besides the market it self. Even MtGox shutting down had pretty much no extra downside. I still don't think news have much impact on BTC prices, even when it directly involves coin (c.f. SR, sheepmarketscam, BTCchina). But i'm also pretty stubborn with this idea The only event I see responsible is overgrow of 1000$ in december, and 1000's of coin being bought by large holder over the actual PA.
I don't know if you'd agree, but since BTC -unlike other forex pairs- can also be use daily and bought for other purpose than being traded, I believe news are only an indicator not the why.

Yeah, could be just normal buy, sell, take profit trading...

.....I see more down ahead........to the choco ema 30 at least...MACD pointing down, RSI with half the way to go yet........and price getting under 5 ema blue............

JPMorgan is part of the elite and the elite should be afraid that this BTC will take the world reserve currency status to the dollar, lol, good........that is the idea, make them afraid to see if they come to senses on all this killing and looting they got going on out there in the intent to get this NWO.....MOFO's.......

This dump was due to a (false) rumor that the Chinese central bank was going to ban bitcoin.

Edit: the whole thing appears to have broken the spirit a little, stamp and btc-e have been continuing lower all day. The post-Gox bump has been erased completely.

All the cryptocoins are falling as one.
Bitcoin will have to reverse NOW to avoid plunging to 400. Great for trading but not so for holders of cryptocoins.

Yeah,, Unfortunately all the cryptocoins seem likely to return to their origins to start all over again.......

Good morning

I'm certain Emptymind and Venzen would confirm, but from EW perspective, it's not a bad thing.
It would mean a perfect triangle, and indeed this correction is a wave 4.
The earlier we'll see 400 the earlier the correction is over and from there on, a new uptrend should slowly settle.

EDIT : By the way, their isn't much data, but I've been getting some almost spot-on target on nxt with EW, if anyone else want to have a look : https://bitcoinwisdom.com/markets/bter/nxtbtc

look at how similar the charts look ...history repeating

Hello Emptymind,

Yeah I think it's because they are both wave 4. I found this chart, and I couldn't have done it better myself : https://www.tradingview.com/v/Ko4CZ7mn/

Hey LL, i see what you mean. the chart looks plausible, but why is everyone ignoring what happened to btc-e & gox charts. both exchanges invalidated what many think is a wave 4 currently unfolding.

I know, i have difficulties ignoring BTC-e. As for Mtgox, it's easier, their was already rumor, and they kept on trading without allowing withdrawal. This obviously affected the chart in a way that EW doesn't include. BTC-e, on the other hand didn't have any external influence, well, not directly, but I'm not certain the spike down can be attribute only to the market law. It's could have been a repercussion from the gox situation previously mentioned. Seem like Bitstamp and the Chinese exchange were spare, and the charts more reliable,

It's a complex point, and I don't want to dismiss those two charts as anomalies, but these weren't just bad news (unlike what happen with BTCchina in december) it directly affected the price action in the same way as if a power black out or something similar were to happen in New York during trading hour. I don't see how EW account for these unforeseen circumstances in any part of the theory.

edit : this is just a point of view, to be honest i am myself unsure of it's value..

What you say makes sense re gox. I think we can also dismiss BTC-e as a kind of manipulative stop hunting. A real market would never recover in such a short time if the spike down was for real.

An article looking at a new mining technology that will affect Litecoin clones - and the one coin that's putting up resistance.
I've made some comment in italics in places

Execoin – Vanguard of the ASIC-Free Zone

http://www.cryptocoinsnews.com/wp-co...014/03/exe.png

Since its launch in late February, Execoin has rapidly distinguished itself as a serious cryptocurrency with a visionary team behind its development.

During the 3 weeks since launch the following changes and upgrades were made:

1. Implementation of Kimoto Gravity Well - prevents volatility in mining difficulty by suppressing miners who introduce surges to a mining pool's hash rate
2. Paper Wallet and Bulk Wallet address generation system - the picture of the blue paper note below was generated by this system
3. More Mining Pools - see instructions at the bottom of this post for a quick mining "howto"
4. Two Fully functional Block Explorers

1. http://explorer.execoin.net
2. http://execo.in

1. Reddit TipBot is now available
2. Five additional exchanges

1. Poloniex
2. Coinader
3. Bittrex
4. Coinpeat

…one of them an exchange invite from China

1. BIT-G

http://www.cryptocoinsnews.com/wp-co...et-300x162.png

Upgrades in the pipeline include:

1. Android wallet
2. Light-weight Thin Client
3. Improving Anonymity of Execoin
4. additional independent DNS seeders to ensure the Execoin network is reliable, fast and de-centralized.

Rise of the ASICs

http://www.cryptocoinsnews.com/wp-co...ye-150x150.jpg

As discussed here and here, the second quarter will have us witness an unprecedented deluge of Scrypt ASICs flooding into the mining market. The linked analysis makes two key arguments, namely, that an ASIC Invasion guarantees

1. the expulsion of GPU rigs from the scrypt altcoin domain, and
2. a strong depreciation in scrypt altcoins’ exchange values as their rates of release into the market nearly quadruples over a period of 6 months. Hence, miners can look forward to a more crowded – and more hash rate competitive – scrypt ASIC dominated altcoin scene.

Thus, more powerful individual miners, in larger numbers, competing to produce altcoins of lesser value at faster speeds. What was that about Execoin, you say?







Lock and Load


Well, Execoin, you see, cannot be mined by ASICs.


http://www.cryptocoinsnews.com/wp-co...tt-300x248.png

The coin is designed and hardened to defy ASIC mining – with an innovative Progressive-N Scrypt algorithm - which offers GPU miners a productive and profitable “safehouse” during the coming storm.

By the principle of supply-and-demand, it stands to reason that Execoin will proportionally gain value in this scenario: its own mining being capped by the limits of GPU hashing (HBM included), whilst other coins are subjected to unprecedented hashing power and, as a result, vastly accelerated production. [As both the Federal Reserve and Bank of Japan have shown us during the past 5 years: nothing devalues a currency quite as surely and consistently as speeding up the money presses!]

The Execoin project team are not surprised by the early spread of ASICs:

Execoin Team: “We always expected that scrypt ASICs will be developed faster and in a more aggressive manner than most people assumed. When we created Execoin, we made our N-factor schedule more aggressive in accordance with this vision. We analyzed the market, and it was clear to us that once the first scrypt ASIC model was announced, other manufacturers would rapidly match. The same thing has already happened with Bitcoin. Bitcoin ASICs appeared with high speeds (at the time) but sped up progressively along an exponential curve. That is exactly how our N-factor schedule is calibrated in order to resist scrypt ASICs.”

Asked about the 3 weeks following the launch of Execoin on 27 February, the team had the following to say:

Execoin Team: “Of course, we were excited about this launch and there were some unexpected surprises. For example, we realized that things should be done way faster than we anticipated – to ensure the coin’s success and to keep people interested. Things like having regular communication with miners and investors, having news posted, and features added all the time – all of it non-stop!”


Clone of a Clone?

http://www.cryptocoinsnews.com/wp-co...ly-300x159.png

Despite Execoin’s unique features and services, the accusation has been leveled that Execoin is “nothing more than a Vertcoin clone”. Considering Execoin was launched after Vertcoin, and that both coins feature ASIC resistance, it’s an easy deductive error, but not so:

1. Execoin’s faster 45 second block time has many cascading implications on the design of the coin.
2. N-factor code for Execoin was written from first principles, and there is no evidence of “cloning” when comparing the source code.
3. Some progressive-N clones have recently made their appearance and, in choosing which of the competitors to clone, their source reveals the Execoin N-factor code.

The Execoin developers share the Bitcoin developers’ sense that cryptocurrency user interfaces and transaction handling will move away from the cumbersome desktop installations we have now, and instead reside on dedicated thin clients and smart phones. To this end the team purposely chose a faster block time and have already started work in this direction.








Mines, Pools, Threats

During the course of conducting interviews in preparation for this article, it was encouraging to speak with the team. The members are intelligent and informed, and have insight into the altcoin market forces and where the market is trending. With so much determination and knowing foresight, I asked them if they perceived any threats to Execoin:

Execoin Team: “We don’t see any looming threats for our niche, right now. It’s not an option that somebody will be able to design ASICs fast enough for N-factor schedule that changes progressively, so we’re confident in the ASIC-resistance of our coin. Multi-pools, also, can’t impact Execoin, since KGW and a specific multipool-resistant core algorithm, together, provide ample protection against multi-pooling. We predict a massive release of competitor coins and clones but even this should not impact the value of the major players in our niche.”

http://www.cryptocoinsnews.com/wp-co...g_facility.png

“As for the possible or ‘supposed’ threat of more competitors in the ASIC-resistant market, we note that Execoin clones with minimal code changes – and some of them pre-mined – have already been released. We consider this a kind of reward and recognition of our work, but these clones, themselves, won’t change anything about the market in a negative way for us. They may even promote Execoin to some extent.”

“A very real threat is the potential pressure from governments and authorities on the crypto market and their ability to implement regulation. That’s why we’re thinking of the addition of anonymity to Execoin – this should prevent possible control of the coin and its transactions.”


Market-front

http://www.cryptocoinsnews.com/wp-co...er_oblique.jpg

Every now and again, innovation comes along that turns the entire consensus view on its head. Even just the simplest implementation can disrupt the status quo without the need for catchy memes or mindboggling specifications. Keen-eyed investors and miners should already have several green flags raised in their mind as well as a few favourable boxes ticked next to “well positioned” and “upside expectation”. Or, as Wall Street investing legend, Jesse Livermore, said about opportune trade entries:

In fast moving markets, things cannot remain the same for long. Cryptocurrency is a fast developing market, and it’s catalyst for change, namely scrypt ASIC, has arrived. A similar market dynamic happened to Bitcoin. Which cryptocurrency is best prepared for what’s about to happen?

The Execoin team have their market forecast ready:

Execoin Team: “This niche will grow. We’re expecting a significant rise of hash rate in the coming months as well as s rapid EXE price increase in the exchanges. All players should be ready for expansion of the ASIC-free zone that will increment with each new ASIC release. We’re ready for it. Execoin has been designed to adopt the huge hash power from GPU mining rigs when they migrate to N-scrypt under the pressure of scrypt ASIC.”

“We’re expecting more clones of Execoin… this niche will grow quickly, and so will competition.”


--- end of article ---


(comment from venzen: I think it's a coin with potential, because a lot of people assume the Litecoin clones (altcoins) are static.
Although a much smaller market than Bitcoin, they enjoy a lot of participation by miners - who are a big force in
cryptocurrency and provide a lot of liquidity to the altcoin exchanges.)

This coin is specially designed for low hash rate mining, so a dual-core CPU could earn you some Execoins. If you're interested in giving it a try, follow the steps below:

Mining Execoin

1. Use the address generation system to generate an Execoin address.
2. Visit the Execoin Website and download suitable mining software for your hardware
   1. if you intend using your CPU for mining, firstly, be careful that you do not overheat it!
      1. Linux source code can be downloaded here: https://github.com/Bufius/cpuminer-vert
      2. Windows NZ site: https://mega.co.nz/#!3IUVhLyZ!HFmk2Q...Myt5pj7pcALXaY
      3. Windows Amazon cloud: http://www.amazon.com/gp/drive/share...SuMm5b8Ldi-jiA

3. The Execoin website has configuration strings for GPU mining software, for CPU mining software type the following
   at a command prompt in Windows (click run: and then type: cmd - this should open a console). Example code for CPU:
   
   
   Inserted Code

   minerd.exe -a scrypt -o http://p2pool.bihthai.net:9173 -u [b]yourEXEwalletaddress[/b] -p 123

4. Point your browser at the same address http://p2pool.bihthai.net:9173 and see your mining shares grow. Payout happens when the pool solves a block.
5. You'll have to install a wallet (see Execoin website) to access your Execoins.

Trade Execoin

Try any one of the exchanges listed at the top of the article. The most popular exchange markets seem to be via BTC and LTC:

 

1. Poloniex
2. Coinader
3. Bittrex
4. Coinpeat
5. BIT-G

Hi L_L.....Thanks for the info'...I just hope the 400 target is the bottom.

Yes...Great observation..

Great post venzen....Cheers

Hello traders, very good post venzen...

I suggest you look at chart from HUOBI, which is now the largest BTC exchange by volumn(thus best charts from a TA's view), and it's showing a clearly standard triangle 4 - which has to break out now or fail.

Welcome Kingtour and hello to everyone
I hope you all had a great week-end.

I hope execoin makes it soon to some more reliable exchanges. I don't really trust poloniex, seeing the way they dealt with their alleged hacking. And don't know much about the other. It sounds like a coin with good features.

Regarding Huobi, they have started to offer BTC trading only 6month ago, the volume was low during that peak, their chart of the december wave is actually close to the LTC chart in shape and fib, they also have been accuse of faking their volume (so were most chinese exchanges, so caution), none of this impact the wave degree but it does change how readable and how many analysis tool (such as volume spikes, bb, rsi ) can be apply on the Huobi chart.
Although. due to the temporary belief of a China ban on bitcoin all Chinese exchange can't be consider fully reliable as stand-alone charts.

Plus, I find the wave 4 triangle broken-looking on every single chinese exchange. Which make me believe, China isn't leading the PA.

That could m open to the possibility of a lower low than 400, either way we shall know soon