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Bitcoin technical analysis

  • #2,781
  • Apr 8, 2014 5:48pm Apr 8, 2014 5:48pm
Quoting lady_luck
{quote} Yes, things are boringly ranging between fib 38.2 and 61.8, and around the middle of BB. Indecision.. While EW let me think a new low, other indicator, made me consider an alt count (in red) for EW were fib 76.4 and the previous major support (purple ray) would be targets. Also if the red count was instead the end of 5 of 5 to the downside, the structure on TF30 wouldn't appear as a 3 waves structure. {image}
Yeah..That's pretty much the way I am seeing it too. If it gains momentum though I can see 560. Only major question..Is this wave 4 of 5 or is the bottom in.??
Money Makes Money
  • #2,782
  • Apr 8, 2014 6:06pm Apr 8, 2014 6:06pm
Quoting KiwiOz
{quote} Yeah..That's pretty much the way I am seeing it too. If it gains momentum though I can see 560. Only major question..Is this wave 4 of 5 or is the bottom in.??
I don't know. Venzen had the idea of BTC moving up in ABC instead of impulse.
Bitstamp has a clear triangle, http://i.imgur.com/JJda2LC.png
LTCUSD has five waves down too.
If i was forced to vote,I'd say without conviction the bottom is in. What about you ?
  • #2,783
  • Apr 8, 2014 6:26pm Apr 8, 2014 6:26pm
Quoting lady_luck
{quote} I don't know. Venzen had the idea of BTC moving up in ABC instead of impulse. Bitstamp has a clear triangle, {image} LTCUSD has five waves down too. If i was forced to vote,I'd say without conviction the bottom is in. What about you ?
If it breaks North from here I will be looking for a pull back around 470 / 90.....Then we will see if the bottom is in or not. If yes, we head North." North to Alaska"
If not we have to consider 400 & below.
Money Makes Money
  • #2,784
  • Apr 8, 2014 6:33pm Apr 8, 2014 6:33pm
Attached Image
  • #2,785
  • Apr 8, 2014 6:39pm Apr 8, 2014 6:39pm
Quoting lady_luck
{quote} I don't know. Venzen had the idea of BTC moving up in ABC instead of impulse. Bitstamp has a clear triangle, {image} LTCUSD has five waves down too. If i was forced to vote,I'd say without conviction the bottom is in. What about you ?
imho, the triangle like formation are just a type of running flat. the market was so powerful the c wave couldn't complete normally
  • #2,786
  • Apr 8, 2014 7:15pm Apr 8, 2014 7:15pm
Nice one venzen,.Thanks.
http://www.cryptocoinsnews.com/news/...ate/2014/04/09
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  • #2,787
  • Apr 8, 2014 8:47pm Apr 8, 2014 8:47pm
New dogecoin icon...
Attached Image
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  • #2,788
  • Apr 9, 2014 2:34am Apr 9, 2014 2:34am
i think i know what this is; it's a triangle where wave e is also a triangle. so it's taking super extra long time to complete
"i" is final label
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  • #2,789
  • Apr 9, 2014 2:38am Apr 9, 2014 2:38am
Quoting KiwiOz
New dogecoin icon... {image}
did it collapse? sorry, i have no idea about alternate crypto coins
  • #2,790
  • Apr 9, 2014 2:52am Apr 9, 2014 2:52am
Quoting KiwiOz
Nice one venzen,.Thanks. http://www.cryptocoinsnews.com/news/...ate/2014/04/09
thank you venzen for a very timely article. i use multibit,do i have to do anything? thanks
  • #2,791
  • Apr 9, 2014 3:18am Apr 9, 2014 3:18am
Quoting emptymind
{quote} did it collapse? sorry, i have no idea about alternate crypto coins
Naahh. just foolin' around.............
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  • #2,792
  • Apr 9, 2014 9:46am Apr 9, 2014 9:46am
Quoting emptymind
i think i know what this is; it's a triangle where wave e is also a triangle. so it's taking super extra long time to complete "i" is final label {image}
Good morning everybody
I think i looked at this dog for a whole cup of coffee, it does get funnier
That's a great idea Emptymind. Or if it's the wave 5 as you said before, then it's an other diagonal, that's the only way It can be abc shaped.
Either way those triangle are great to confirm when to buy/sell.
  • #2,793
  • Edited 12:21pm Apr 9, 2014 12:06pm | Edited 12:21pm
if we get 5 waves down move and then a 5 wave up move you will know the bottom is "in". corrections end with impulse wave and a new cycle begins with impulse wave (5down then 5 up). anything else, we didn't see bottom yet

thanks LL.... that abcdefghi triangle doesn't happen very often. btce chart has quite a different look compared with 'stamp. you seem to handle it quite well

Attached Image
  • #2,794
  • Apr 9, 2014 6:42pm Apr 9, 2014 6:42pm
Quoting emptymind
if we get 5 waves down move and then a 5 wave up move you will know the bottom is "in". corrections end with impulse wave and a new cycle begins with impulse wave (5down then 5 up). anything else, we didn't see bottom yet thanks LL.... that abcdefghi triangle doesn't happen very often. btce chart has quite a different look compared with 'stamp. you seem to handle it quite well {image}
Good calling mate.....421 wave 3 ?? Yes with a bounce at 430........
Attached Image (click to enlarge)
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  • #2,795
  • Apr 9, 2014 11:36pm Apr 9, 2014 11:36pm
Quoting KiwiOz
{quote} Good calling mate.....421 wave 3 ?? Yes with a bounce at 430........ {image}
421 hit & no bounce so now I'm eying 390...........
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  • #2,796
  • Apr 10, 2014 1:53am Apr 10, 2014 1:53am
Quoting KiwiOz
{quote} 421 hit & no bounce so now I'm eying 390...........
Hey venzen. i see you there !!!!!! What's your thoughts mate.
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  • #2,797
  • Apr 10, 2014 1:57am Apr 10, 2014 1:57am
Morning Colleagues,

My chart confirms a BTC-e low at 390. A TL and the 2.618 extension of the first wave down intersect at 390 later today. Probably some volatility here at the bottom like the wave ending to the right of the red annotation "$416".

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cryptocurrency everytime
  • #2,798
  • Edited 2:20am Apr 10, 2014 2:02am | Edited 2:20am
Quoting KiwiOz
{quote} 421 hit & no bounce so now I'm eying 390...........
it seems wave 3 is 261.8% of wave 1.......... (the 421 target was total guess based on where wave 2 would end... pls ignore it)

Attached Image



wave 5 target if wave 4 pull back 38.2%.....

457.3 - 400.11)*.618 - 417.86 = 382.5
  • #2,799
  • Apr 10, 2014 3:03am Apr 10, 2014 3:03am
There is so much good news, Businesses taking on Bitcoin, ATMs etc etc etc. Yet this sucker keeps on falling.
I wonder !!!!!!!! If bitcoin fell to Parity.......it would be $ for $ equivalent to put it plainly.
With the altcoins ease of use, not bank charges, No need for bloody blood sucking banks at all, able to buy and pay via computer & smart phone,etc. Would that not be the greatest thing since sliced bread.?? And would that not bring on board every man woman, child & the family dog (dogecoins only for the dogs) to use altcoins in place of all the stupid currencies of the world.
Sorry venzen but I am pumping for parity..
OK stoopid thinking.
I just smacked myself.....mmm nice.
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  • #2,800
  • Apr 10, 2014 3:30am Apr 10, 2014 3:30am
i agree. bitcoin is very important technology. only 21 million coins available for everyone so it woudn't surprise me if it settled around 100,000 per bitcoin in stable orbit.
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