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Bitcoin technical analysis

  • #2,681
  • Apr 1, 2014 6:51pm Apr 1, 2014 6:51pm
Quoting emptymind
{quote} are you saying the big C wave is over? or wave4 still in progress? thanks
No mate..I think this is just a retracement...
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Money Makes Money
  • #2,682
  • Apr 2, 2014 5:05am Apr 2, 2014 5:05am
i think wave 2 is done.... standard 61% retracement......
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  • #2,683
  • Apr 2, 2014 11:29am Apr 2, 2014 11:29am
Quoting KiwiOz
{quote} Cheers venzen...Thanks mate. When is your next article.?
KO, i'll be writing an article about a hardware wallet that's coming out soon, called the... Trezor! TRAYY-ZHOAR, UUH!

But my focus is very much on mining at the moment so I'll be writing more mining-related articles in the next few months... especially around the issue of ASIC devices and the last stand of GPUs - i have a feeling AMD and Nvidia are about to enter the mining market with dedicated devices... that is IF they see the potential..

Thanks for your consistently reliable forecasts, i must say that i sat out the turmoil of the past week with calm confidence that we'll be seeing the low 400s.
cryptocurrency everytime
  • #2,684
  • Apr 2, 2014 1:31pm Apr 2, 2014 1:31pm
Quoting venzen
{quote} KO, i'll be writing an article about a hardware wallet that's coming out soon, called the... Trezor! TRAYY-ZHOAR, UUH! But my focus is very much on mining at the moment so I'll be writing more mining-related articles in the next few months... especially around the issue of ASIC devices and the last stand of GPUs - i have a feeling AMD and Nvidia are about to enter the mining market with dedicated devices... that is IF they see the potential.. Thanks for your consistently reliable forecasts, i must say that i sat out the turmoil of the...
Hello Traders, Hello Mr. venzen, How are you Sr. long, good writing out there, congrats, hope yourself and everybody here have a wonderful week, good luck....
The Chonchy
  • #2,685
  • Apr 2, 2014 2:06pm Apr 2, 2014 2:06pm
i think wave 3 should be 261.8% of wave 1 so target for 3 is 395
wave 1 = 509.98 - 472.12 = 37.86 points
494.98 (wave 2) - 37.86 * 2.618 = 395.86

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  • #2,686
  • Apr 2, 2014 5:26pm Apr 2, 2014 5:26pm
Quoting emptymind
i think wave 2 is done.... standard 61% retracement...... {image}
Good call mate & we finally found the elusive 425.....Cheers.
Money Makes Money
  • #2,687
  • Apr 2, 2014 5:37pm Apr 2, 2014 5:37pm
Going back to the Daily chart, I now have my sights on 330........
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Money Makes Money
  • #2,688
  • Apr 2, 2014 5:45pm Apr 2, 2014 5:45pm
Good God! This is just getting depressing...lol I've been waiting since January just to break even. The good news though is every payday, when I buy more, my average drops. It used to be somewhere around $24/LTC before I would break even. Then I bought more lower, average dropped to $23/LTC to break even, etc. Currently I need $21.75/LTC to break even, so I'll just keep buying and eventually I should be able to at least break even, assuming the price comes up someday, which everyone is saying it will. I'm not going to get too worried about loosing money till next spring when I need it back. I would imagine the price should rebound by then???? At the least I am pretty confident I will break even at some point. If this "trip to the moon" ever does come though, I should make a handsome profit considering every time payday comes the price just happens to be even lower than the last payday, and I'm able to get even more coins.
  • #2,689
  • Apr 2, 2014 5:52pm Apr 2, 2014 5:52pm
Quoting dcramer16
Good God! This is just getting depressing...lol I've been waiting since January just to break even. The good news though is every payday, when I buy more, my average drops. It used to be somewhere around $24/LTC before I would break even. Then I bought more lower, average dropped to $23/LTC to break even, etc. Currently I need $21.75/LTC to break even, so I'll just keep buying and eventually I should be able to at least break even, assuming the price comes up someday, which everyone is saying it will. I'm not going to get too worried about loosing...
Hey mate you are very brave. Why don't you just wait until we all think it has bottomed out before you buy more.?? cheers
Money Makes Money
  • #2,690
  • Apr 2, 2014 5:53pm Apr 2, 2014 5:53pm
Quoting KiwiOz
Going back to the Daily chart, I now have my sights on 330........ {image}
oh dear, where is the new low avg price... I thought 450 would invite buyers to push the price up to 650 again...
thinking of selling up until things get another 30% cheaper...
  • #2,691
  • Apr 2, 2014 5:58pm Apr 2, 2014 5:58pm
Quoting KiwiOz
{quote} Hey mate you are very brave. Why don't you just wait until we all think it has bottomed out before you buy more.?? cheers
The main reason, if I have money sitting in a bank account where I can access it, it's just way too tempting to spend it. If I put it in Crypto, it's kinda locked in place and I can't touch it. Dumb reason I know, but if I got it, I spend it. Also, I'm not concerned the price will drop to $0. So I don't mind injecting cash into my crypto account. While it looks depressing right now, I'm sure we'll have a rebound at some point.
  • #2,692
  • Apr 2, 2014 6:00pm Apr 2, 2014 6:00pm
Quoting KiwiOz
{quote} Good call mate & we finally found the elusive 425.....Cheers.
thanks mate! just throwing darts and guessing

your technology is quite impressive you could actually get a target from that slope? crazy good!
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  • #2,693
  • Apr 2, 2014 6:06pm Apr 2, 2014 6:06pm
Quoting dcramer16
Good God! This is just getting depressing...lol I've been waiting since January just to break even. The good news though is every payday, when I buy more, my average drops. It used to be somewhere around $24/LTC before I would break even. Then I bought more lower, average dropped to $23/LTC to break even, etc. Currently I need $21.75/LTC to break even, so I'll just keep buying and eventually I should be able to at least break even, assuming the price comes up someday, which everyone is saying it will. I'm not going to get too worried about loosing...
don't be discouraged! we are really close to bottom (340 or KO's 330)..... i've been buying and accumulating all the way down to build my position for the next cycle.... i am somewhat familiar with how elliott waves work, but still accumulate knowing market has lower targets...
  • #2,694
  • Apr 2, 2014 6:10pm Apr 2, 2014 6:10pm
Quoting emptymind
{quote} thanks mate! just throwing darts and guessing your technology is quite impressive you could actually get a target from that slope? crazy good! {image}
Thanks. Sometimes I have to go to lower time frames to find targets like that.
Money Makes Money
  • #2,695
  • Apr 2, 2014 7:31pm Apr 2, 2014 7:31pm
wave 3 target:
444.25 - (494.98 - 430.41)* .618 = 404.3

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  • #2,696
  • Apr 2, 2014 9:12pm Apr 2, 2014 9:12pm
Quoting emptymind
wave 3 target: 444.25 - (494.98 - 430.41)* .618 = 404.3 {image}
Looks good to me for next major speed bump. I am getting 398,396 & 394. Had to go to the 30m chart to get the target.
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Money Makes Money
  • #2,697
  • Apr 2, 2014 9:39pm Apr 2, 2014 9:39pm
Quoting emptymind
{quote} thanks mate! just throwing darts and guessing your technology is quite impressive you could actually get a target from that slope? crazy good! {image}
http://www.forexfactory.com/attachme...1&d=1396479475

Hi. Also, I was watching.
It reminds me of TA particular technique H+S (head + shoulders).
If you think you can do a thing or think you can't do a thing, you're right
  • #2,698
  • Edited 10:18pm Apr 2, 2014 10:04pm | Edited 10:18pm
Quoting KiwiOz
Going back to the Daily chart, I now have my sights on 330........ {image}

......297 is the next hurdle me think....all though we may bounce here to recoup......MACD is ok to keep going down, but RSI is oversold, so it may shot up a bit to come down with force again to 297.......lets see if I get out of this now, lol......

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The Chonchy
  • #2,699
  • Apr 2, 2014 10:08pm Apr 2, 2014 10:08pm
Quoting KiwiOz
{quote} It's a little confusing at present which is par for the course for a wave 4. SO. On the 4h chart. If the move from 444 to 500 is wave A then wave C would go to around 550. I still can't work out why the 425 target was not reached so maybe that is still to come first. On the other hand if it starts North again NOW it could be a 5 wave retracement ending for me at 512. 1h chart. Best to sit these messy retracements out. {image}
good call KO.........
The Chonchy
  • #2,700
  • Apr 2, 2014 10:09pm Apr 2, 2014 10:09pm
Quoting venzen
{quote} KiwiOz, You most definitely want to keep your cryptocurrency as safe as possible, so that means on a computer you own and have the ability to secure. Bitcoin Core 0.9.0 is great and is the original and most raw wallet out there. If it's good enough for the Bitcoin developers then i trust it. Some users prefer Armory wallet, but i haven't tried it yet. The safest way is generally considered to be a "paper wallet". Here is a video from the World Bitcoin Network (what? the whole world!? ) but its actually a very informative series: http://www.youtube.com/watch?v=I1uefzJJ6nM...

awesome, thanks venzen....
The Chonchy
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