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Bitcoin technical analysis

  • #2,821
  • Apr 10, 2014 4:06pm Apr 10, 2014 4:06pm
No sign of a let-up so it's 230 for me........
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Money Makes Money
  • #2,822
  • Apr 10, 2014 5:16pm Apr 10, 2014 5:16pm
Quoting KiwiOz
No sign of a let-up so it's 230 for me........ {image}
Hello everybody

Thanks for the compliment emptymind, I guess 384 was a bit off, but wave e like fifth can both overshoot and extend quiet a bit, so might not be so wrong
Nice family Choncy, you all look so happy !
KO, nice targets, I guess the 220-380 area is the most uncharted of BTC. It has been passed thru very fast and never return to yet. And their is not much record of previous support and resistance. Hopefully it wont overlap the previous ATH, or we might be in for a serious bear market. But oh well it gotta be winter somewhere
  • #2,823
  • Apr 10, 2014 6:36pm Apr 10, 2014 6:36pm
Quoting lady_luck
{quote} Hello everybody Thanks for the compliment emptymind, I guess 384 was a bit off, but wave e like fifth can both overshoot and extend quiet a bit, so might not be so wrong Nice family Choncy, you all look so happy ! KO, nice targets, I guess the 220-380 area is the most uncharted of BTC. It has been passed thru very fast and never return to yet. And their is not much record of previous support and resistance. Hopefully it wont overlap the previous ATH, or we might be in for a serious bear market. But oh well it gotta be winter somewhere...
Hahaa. winter is soon to be here but we got no bears.( Only Koala's & they ain't no real bear)
On your side of the world the bears are only just coming out to play....
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  • #2,824
  • Apr 11, 2014 12:23am Apr 11, 2014 12:23am
Quoting lady_luck
{quote} Hello everybody Thanks for the compliment emptymind, I guess 384 was a bit off, but wave e like fifth can both overshoot and extend quiet a bit, so might not be so wrong ....
ok im sensing it is wave e like what you say.... here is my wave e chart......... it is finished because wave c is 61.8% of a . the minimum requirement for wave c not to be failure/truncated. so wave e is finished imo

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wave a = 710 - 436 = 274
wave c = 274 * .618) -509.98 = 340.648

we could have worked out the minimum target for wave c in advance .........if i thought of the whole correction as a triangle abcde

Quoting KiwiOz
No sign of a let-up so it's 230 for me........ {image}
KO, correction is over! you have been warned!
  • #2,825
  • Apr 11, 2014 2:40am Apr 11, 2014 2:40am
i just found out something really important while counting the days between major spikes!!!!!!

bitcoin had 1st spike/high to 16.41 on 2012-8-17
236 days later
another spike/high at 259.6 on 2013 - 4 - 10
234 days later we had another spike/high to 1163 on 2013 - 11 -30
you guessed it!!!!!!!!!
adding another 235 days + or - 1
our future spike high day is 23 July 2014............. write that down somewhere........ i predict major up move coming soon
my guess for wave next spike/high is 1163*1.618+339.79 = 2,221.524

  • #2,826
  • Apr 11, 2014 3:19am Apr 11, 2014 3:19am
Noooo, I'm waiting for my paydirt on the 15th. Need to backup the trucks for moar cheapo coins.
BTC FTW
  • #2,827
  • Apr 11, 2014 3:45am Apr 11, 2014 3:45am
Quoting smartypants
Noooo, I'm waiting for my paydirt on the 15th. Need to backup the trucks for moar cheapo coins.
15th.?? Why the 15th.??
Money Makes Money
  • #2,828
  • Apr 11, 2014 3:54am Apr 11, 2014 3:54am
Getting my salary then... Nothing about this china-ban-thing.
BTC FTW
  • #2,829
  • Apr 11, 2014 3:57am Apr 11, 2014 3:57am
this is the impulse wave i have been waiting for after the correction. indicates correction is over. we had the final c wave (of e) down and now impulse wave to upside... target for this wave 5 is 410-339.79)*.618+385.83=429.21

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  • #2,830
  • Apr 11, 2014 4:01am Apr 11, 2014 4:01am
Quoting emptymind
{quote} ok im sensing it is wave e like what you say.... here is my wave e chart......... it is finished because wave c is 61.8% of a . the minimum requirement for wave c not to be failure/truncated. so wave e is finished imo {image} wave a = 710 - 436 = 274 wave c = 274 * .618) -509.98 = 340.648 we could have worked out the minimum target for wave c in advance .........if i thought of the whole correction as a triangle abcde {quote} KO, correction is over! you have been warned!
Lol.Thanks for the heads up. There certainly has been a smart pullback & it's been a very lively 24hrs. However I am not getting any major targets to the North yet.
Two possibilities in the short term...335 & 470... Which one will it be.??
Money Makes Money
  • #2,831
  • Apr 11, 2014 4:02am Apr 11, 2014 4:02am
Quoting emptymind
i just found out something really important while counting the days between major spikes!!!!!! bitcoin had 1st spike/high to 16.41 on 2012-8-17 236 days later another spike/high at 259.6 on 2013 - 4 - 10 234 days later we had another spike/high to 1163 on 2013 - 11 -30 you guessed it!!!!!!!!! adding another 235 days + or - 1 our future spike high day is 23 July 2014............. write that down somewhere........ i predict major up move coming soon my guess for wave next spike/high is 1163*1.618+339.79 = 2,221.524
I remember seeing a neat pattern between the spike peaks and trough lows between Oct and Dec, I could use it to get an approx date of peaks in MT4 and it worked out very well for a while: the time between them became very close and got to a point where it was a mess of indicators so i dropped it, and I lost the chart data so i gave up on the idea - but I'm behind you on this approach for sure as I've seen its efficacy myself. The pattern was log in nature and def not linear (and I wasnt using it to get prices, just peak times), not sure if there's large scale traders out there working of horizontal Fib patterns or something but interesting anyway. If I get some time I'll go back over the chart and try to recreate it...

Thanks for the heads up on your idea anyway, fingers crossed for it to comes true!
  • #2,832
  • Apr 11, 2014 4:04am Apr 11, 2014 4:04am
Quoting emptymind
this is the impulse wave i have been waiting for after the correction. indicates correction is over. we had the final c wave (of e) down and now impulse wave to upside... target for this wave 5 is 410-339.79)*.618+385.83=429.21 {image}
So long as it can get above 413, that would be a good count..
Money Makes Money
  • #2,833
  • Apr 11, 2014 4:26am Apr 11, 2014 4:26am
Quoting KiwiOz
{quote} So long as it can get above 413, that would be a good count..
do you mean above 410?

wave 3 is 161.8% of wave 1... this is perfect ratio. golden ratio
  • #2,834
  • Apr 11, 2014 5:01am Apr 11, 2014 5:01am
Quoting KiwiOz
{quote} So long as it can get above 413, that would be a good count..
Just peaked over it in last few mins, volatility is back, feels like October again!
  • #2,835
  • Apr 11, 2014 5:04am Apr 11, 2014 5:04am
hi everybody. this uptrend is quite vigorous. It seems like the reversal has been made
cryptocurrency everytime
  • #2,836
  • Apr 11, 2014 5:08am Apr 11, 2014 5:08am
Quoting venzen
hi everybody. this uptrend is quite vigorous. It seems like the reversal has been made
Certainly seems that way. Do we have a final bottom...Time will tell. I am getting 480 on my radar......
Money Makes Money
  • #2,837
  • Apr 11, 2014 5:28am Apr 11, 2014 5:28am
Quoting gjgjg
{quote} Just peaked over it in last few mins, volatility is back, feels like October again!
Wouldn't that be nice..
Money Makes Money
  • #2,838
  • Apr 11, 2014 5:46am Apr 11, 2014 5:46am
Quoting KiwiOz
{quote} Certainly seems that way. Do we have a final bottom...Time will tell. I am getting 480 on my radar......
The last 2 major retracements were 84% & 50%.....480 is 38%...Makes sense to me. Unfortunately that means 225 is still possible.
Money Makes Money
  • #2,839
  • Apr 11, 2014 5:50am Apr 11, 2014 5:50am
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  • #2,840
  • Apr 11, 2014 6:24am Apr 11, 2014 6:24am
Hello. Looks like we are selling off on those China rumors, the latestes headlines however confirms that its probably not a real thing:

* Bitcoin Is Not in Scope of PBOC Regulation, Governor Zhou Says

This has been the cause of this late rally. I think we could do a double bottom and then we see the low of bitcoin for some time. worst case scenario it stays at these levels for a while before rallying again. What do you guys think?
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