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Bitcoin technical analysis

  • #3,201
  • Apr 21, 2014 9:41am Apr 21, 2014 9:41am
Quoting venzen
{quote} hi L_L theyre ok, you know - strange language and concepts, but i'll soon get a handle on it. trying a small trade just to see how it goes from open to close. they use Bitstamp price, isn't it? Glad you're getting the reactions from PA that you expected - dance on
I think you can choose whether you trade on their exchange or on bitstamp. They have 0.01% fee but less users...
They had some issue at some point but they are still alive and people seems to agree on them having a good customer service.
I'm still cold feet to trust them with my precious

edit : take care Venzen, hope you'll get better soon
  • #3,202
  • Apr 21, 2014 11:40am Apr 21, 2014 11:40am
good morning LL, you nailed the wave 2 target....... congrats!
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  • #3,203
  • Apr 21, 2014 12:31pm Apr 21, 2014 12:31pm
Quoting emptymind
good morning LL, you nailed the wave 2 target....... congrats! {image}
Thanks If we are right, I have a target for iii of 5 between 580 and 605 if extended.
  • #3,204
  • Apr 21, 2014 1:41pm Apr 21, 2014 1:41pm
good to know; im waiting for the market to move to 565 and examine the wave structure.. i think we are the only bulls remaining. everyone seems not not to believe the recent move up and call it a retracement.. maybe that happens with prolonged exposure to bear markets. people unable to snap out of it
  • #3,205
  • Apr 21, 2014 1:57pm Apr 21, 2014 1:57pm
Quoting emptymind
good to know; im waiting for the market to move to 565 and examine the wave structure.. i think we are the only bulls remaining. everyone seems not not to believe the recent move up and call it a retracement.. maybe that happens with prolonged exposure to bear markets. people unable to snap out of it
Actually, I see it at a good thing, it's great to always have a reminder of a counter-view. Plus, this is very typical of the first wave of an advance, so it's actually an other point in the bullish side to see most being uncertain.
  • #3,206
  • Apr 21, 2014 6:54pm Apr 21, 2014 6:54pm
Still an ugly duckling. Retrace got to a double top at 504......Double tops (bottoms) act similar to an H n S. Target for this is 468. Whether it keeps going down from there or whether we are in wave 2 of 5 of a major move North is still to be seen.
I have been using a strong telescope to find a reason to look North on the big picture. I may have found it.
If the move from 340 to 540 was wave 1 & wave 2 is in progress now as an ABC, this would end wave 2 at 412. This would also tie in with the inverted HNS at the top of wave 1......
I am however still prepared for a continuation South to around 250. One step at a time.
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Money Makes Money
  • #3,207
  • Apr 22, 2014 1:06am Apr 22, 2014 1:06am
Quoting KiwiOz
Still an ugly duckling. Retrace got to a double top at 504......Double tops (bottoms) act similar to an H n S. Target for this is 468. Whether it keeps going down from there or whether we are in wave 2 of 5 of a major move North is still to be seen. I have been using a strong telescope to find a reason to look North on the big picture. I may have found it. If the move from 340 to 540 was wave 1 & wave 2 is in progress now as an ABC, this would end wave 2 at 412. This would also tie in with the inverted HNS at the top of wave 1...... I am however...
Sudden moves down - i'm checking the news for catalysts, but nothing specific yet - maybe just a switch to bearish for technical reasons.

Your downside target of 412 makes sense because it lies smack bang on the 0.618 retracement of the whole move up, which (if the move up was a wave 1 as you also speculate) then that would be the "textbook" wave 2 ending at 62%.

Funny how the market can be your enemy one minute and your friend the next... I had just closed longs and loaded up shorts on both BTC-e and Bitfinex and 30secs after i was done - DROP...

so, now, i have to be extra cautious, 'coz the market helped me, so the next thing to expect is it wanting to stab me in the back (or the ear!) o_0
cryptocurrency everytime
  • #3,208
  • Apr 22, 2014 1:21am Apr 22, 2014 1:21am
Quoting venzen
{quote} Sudden moves down - i'm checking the news for catalysts, but nothing specific yet - maybe just a switch to bearish for technical reasons. Your downside target of 412 makes sense because it lies smack bang on the 0.618 retracement of the whole move up, which (if the move up was a wave 1 as you also speculate) then that would be the "textbook" wave 2 ending at 62%. Funny how the market can be your enemy one minute and your friend the next... I had just closed longs and loaded up shorts on both BTC-e and Bitfinex and 30secs after i was done...
Been there done that. I hope we are right with our thoughts. If we are in wave 2 of 5 ending at 412, wave 3 of 3 would be around 760 & 5 of 3 to 900.......
Money Makes Money
  • #3,209
  • Apr 22, 2014 3:17am Apr 22, 2014 3:17am
could be a triangle? feels very 4...... sideways action

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  • #3,210
  • Apr 22, 2014 3:28am Apr 22, 2014 3:28am
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  • #3,211
  • Edited 4:56am Apr 22, 2014 4:31am | Edited 4:56am
a wise caution, but i'm considering the fact that Bitstamp price is breaking down through almost every uptrend line. Now it has breached the 200 MA on this Hourly chart. Together with the indicators implying more downside is due, I took this as a sell signal to the lower bright blue TL.

But, yes, caution in case this ramps up.

Bitstamp 1H

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cryptocurrency everytime
  • #3,212
  • Edited 5:39am Apr 22, 2014 5:14am | Edited 5:39am
Quoting venzen
a wise caution, but i'm considering the fact that Bitstamp price is breaking down through almost every uptrend line. Now it has breached the 200 MA on this Hourly chart. Together with the indicators implying more downside is due, I took this as a sell signal to the lower bright blue TL. But, yes, caution in case this ramps up. Bitstamp 1H {image}
i agree but my understanding is you have to move the uptrend to the right just like what you're doing to make up for the more sideways action of wave 4. i know sounds strange

please scan for any good news catalyst. anything?
  • #3,213
  • Apr 22, 2014 5:36am Apr 22, 2014 5:36am
nice! send bitcoin and receive instant cash.....
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  • #3,214
  • Apr 22, 2014 6:16am Apr 22, 2014 6:16am
if this is an e wave, the market will not drop below 490 because e wave must be shorter than d
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  • #3,215
  • Apr 22, 2014 6:18am Apr 22, 2014 6:18am
Quoting emptymind
{quote} i agree but my understanding is you have to move the uptrend to the right just like what you're doing to make up for the more sideways action of wave 4. i know sounds strange please scan for any good news catalyst. anything?
Usually bad news has more weight these days:
latest is more DDOS:
http://newsbtc.com/2014/04/21/blockc...-ddos-attacks/
  • #3,216
  • Edited 6:34am Apr 22, 2014 6:22am | Edited 6:34am
i see but that is totally harmless....... anyone can be DDOSed

people will learn not to keep their wallets in a central location
  • #3,217
  • Apr 22, 2014 6:23am Apr 22, 2014 6:23am
Quoting venzen
{quote} I've just signed up for their beta offering, so when it's available i'll try it out! with all that "wall street" and flag waving, i hope they don't expect an x-ray of my tonsils before i can trade
I finally got my coinsetter beta key and have had some time to look around the service. and in the end it's not so different to Bitstamp, BTC-e et al. IT has a flash based chart screen with some basic tools, but it seems to be a basic exchange like the others really... but a bit cleaner, with some of the same hindrences as the others...

PS they want copy of ID and POA, phone number to get the account going, but dont have min deposit amount from what i saw. The transaction fee is 0.5%

Lets see how it looks post beta.
  • #3,218
  • Apr 22, 2014 6:43am Apr 22, 2014 6:43am
Quoting emptymind
i see but that is totally harmless....... anyone can be DDOSed people will learn not to keep their wallets in a central location
Exactly, gotta spread those Bitcoins around - decentralize is the name of the game.

In fact, after parasites DDoSed my ear, I want to look into decentralizing my brain...
cryptocurrency everytime
  • #3,219
  • Apr 22, 2014 6:49am Apr 22, 2014 6:49am
Quoting gjgjg
{quote} I finally got my coinsetter beta key and have had some time to look around the service. and in the end it's not so different to Bitstamp, BTC-e et al. IT has a flash based chart screen with some basic tools, but it seems to be a basic exchange like the others really... but a bit cleaner, with some of the same hindrences as the others... PS they want copy of ID and POA, phone number to get the account going, but dont have min deposit amount from what i saw. The transaction fee is 0.5% Lets see how it looks post beta.
gjgjg, Thanks for sharing your experience.

I haven't received my key yet. Do they offer leverage on one's account?

If they do, i might consider it, but i tend to avoid services who want to know too much, because they are targeted by the feds and other personal information-hungry agencies (like googl for instance). In my view, modern internet business doesn't require anything more than an email address and a private key - for comms and for authentication verification. But if they offer enough leverage - damn, they can have a color scan of both my passport and my tonsils!
cryptocurrency everytime
  • #3,220
  • Apr 22, 2014 6:57am Apr 22, 2014 6:57am
Quoting venzen
{quote} Exactly, gotta spread those Bitcoins around - decentralize is the name of the game. In fact, after parasites DDoSed my ear, I want to look into decentralizing my brain...
no problem........ you will be able to very soon
http://www.imdb.com/title/tt2209764/
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