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Bitcoin technical analysis

  • #3,221
  • Apr 22, 2014 6:58am Apr 22, 2014 6:58am
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
true, but i was thinking that any bit of bad news causes some panic selling in the short term possibly pushing prices below some trend lines and considering last year and that any piece of good news caused price jumps, it seems to be inversly sensitive this year to bad news, but overall BTC seems ot be more technical these days than news based...

but on the DDOS itself i agree, safety first, spread the coins around
  • #3,222
  • Apr 22, 2014 7:01am Apr 22, 2014 7:01am
Quoting venzen
{quote} 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...
No signs of Lev with these guys so far sorry, it's what i was trying to explain when comparing them to Bitstamp's service
Im in now so ill use them for a while, ill send some feedback to them (which i did about leverage already) and lets see where it goes. if something interesting comes up ill repost.

BTW while browsing the news, this one seems ultra cool (but probably the least safe thing ive seen lol):
http://www.coindesk.com/mevus-wearab...ments-gesture/
  • #3,223
  • Apr 22, 2014 7:49am Apr 22, 2014 7:49am
Quoting emptymind
{quote} no problem........ you will be able to very soon http://www.imdb.com/title/tt2209764/ {image}
This looks very cool - and I'm always partial to Johnny Depp, savvy?
cryptocurrency everytime
  • #3,224
  • Apr 22, 2014 9:28am Apr 22, 2014 9:28am
Aye! i haven't seen it yet. the trailer looks good

i found this on ewpredictions front page... this is what i meant by impulse waves not channeling well.. but is still an impulse
Attached Image
  • #3,225
  • Apr 22, 2014 9:29am Apr 22, 2014 9:29am
LL, what's going on in the market.... im trying a new triangle count but the e wave over shoot. im not sure if its allowed or not. if you have some ideas please let us know
  • #3,226
  • Edited 1:44pm Apr 22, 2014 9:39am | Edited 1:44pm
Good morning,

That's usually a bad sign to look for resources in past charts, but I remembered seeing a similar pattern before
.
I think it's the only time in the past year I've seen similar strength B waves that can be confusing and a surprising wave 5.

Also post correction, the ranging phase, what emptymind you described as wave 4. One candle up and then a perfect curve move of 3 to 4 candle down to the bottom of the first. Then an other smaller candle up and so on. With volume spike on the green candle and curve down on the red. Hoovering on the fib .382 from top to bottom.

You'd have to zoom on a M30 chart on TV to see it properly tho.

This is probably not relevant but I remember being tricked by that.

http://i.imgur.com/Y6yDPce.png
Below, end of oct 2013
http://i.imgur.com/61oXAjz.png
  • #3,227
  • Edited 10:04am Apr 22, 2014 9:47am | Edited 10:04am
good morning LL, good observation, so we are in a "melt up" phase?

i found this from same chart on ewpred.... seems quite similar with the sidwayyyyyyyyyyyys 4 getting outside of channel...
Attached Image


the above was old chart but his prediction was correct. doing the wave 5 i think
below is current chart
Attached Image
  • #3,228
  • Edited 12:31pm Apr 22, 2014 11:09am | Edited 12:31pm
Quoting emptymind
good morning LL, good observation, so we are in a "melt up" phase? i found this from same chart on ewpred.... seems quite similar with the sidwayyyyyyyyyyyys 4 getting outside of channel... {image} the above was old chart but his prediction was correct. doing the wave 5 i think below is current chart {image}
Yeah that's a match. What's interesting is the candle by them-selve. I can't really say how significant in term of wave.

I don't usually spend much time looking at a few doji.
I just really find this pattern fascinating in term of mathematical perfection.

http://i.imgur.com/8lGHGeE.png

the doted line is from the largest rectangle (box) inscribed in this isosceles. (which base is the actual perfect size of the first candle of the pattern)http://i.imgur.com/qzZPImR.png
It's amazing how the PA, resistance, support and decreasing time sequence all perfectly fit geometrically. Pretty cool, isn't it ?

In term of short term future,PA should now be hovering around the angle bisector until break out.

edit : no, I haven't gone completely mad, not yet
  • #3,229
  • Apr 22, 2014 1:45pm Apr 22, 2014 1:45pm
Quoting lady_luck
{quote} Yeah that's a match. What's interesting is the candle by them-selve. I can't really say how significant in term of wave. I don't usually spend much time looking at a few doji. I just really find this pattern fascinating in term of mathematical perfection. {image} the doted line is from the largest rectangle (box) inscribed in this isosceles. (which base is the actual perfect size of the first candle of the pattern){image} It's amazing how the PA, resistance, support and decreasing time sequence all perfectly fit geometrically. Pretty cool,...
that is a very interesting pattern....
cryptocurrency everytime
  • #3,230
  • Apr 22, 2014 2:13pm Apr 22, 2014 2:13pm
Quoting venzen
{quote} that is a very interesting pattern....
Yeah, it's very pretty And price is now outside the rectangle doing the straight line toward the apex of the triangle.
It can only be seen on BTCchina. So,let's all make an euclidean wish

Also, I was looking back at the daily,I remembered that usually 3 of C is marked by a volume spike equal to the end of A, and I didn't find it on every chart.
Then the volume properly dried up.
It work with both count ; red, the simple ABC, and blue the triangle version.
It doesn't prove that we are not going any lower, after-all "C" could be "c" of A, but it could explain what happen on BTC-e, with a spike down on wave 3 of C, and then a truncated wave 5.
Also, as of which red or blue count, look more right, in regard of volume, I'd say blue, because of the buying spike on the D wave.
I haven't use volume as an indicator in a long time, so may be I'm wrong, do you think that could make sens ?
http://i.imgur.com/X7cZEHy.png
  • #3,231
  • Apr 22, 2014 3:29pm Apr 22, 2014 3:29pm
Quoting emptymind
LL, what's going on in the market.... im trying a new triangle count but the e wave over shoot. im not sure if its allowed or not. if you have some ideas please let us know
So about my beautiful triangle on BTCchina, That can mean two things... Since all Exchange are in sync, if their is one triangle somewhere, It mean same wave is in development everywhere, just not as clear.
Once again a blue count and a red count. Since triangle only happen in wave 4 or rarely in wave B.
I really can't think of anything else.
Now according to my previous post, red is not likely, but who knows...

http://i.imgur.com/QUxTnai.png
  • #3,232
  • Edited 3:49pm Apr 22, 2014 3:38pm | Edited 3:49pm
ok this has nothing to do with waves or anything. just common sense. i just discovered how it behaves from a practical point of view. after a big correction such as the one we had for several months it will then flat line and go nowhere for some time. so i expect the same behavior. it will flat line and wobble up and down gently for some time until people get fed up and sell all their coins. thats where/when the smart money is accumulating.

what i did is draw a horizontal line over the flat line activity. once it breaks out of this horizontal line it will give you a buy signal. so basically 10 weeks before the top you will get the buy signal. thats all! nothing is going to happen now till 9, 10 or 11 weeks before the magical date we are all familiar with (please do not ask! look for it)

some examples before market reach the top

to 16
Attached Image

to 260
Attached Image (click to enlarge)
Click to Enlarge Name: 2.png Size: 8 KB

to 1063
Attached Image (click to enlarge)
Click to Enlarge Name: 3.png Size: 8 KB


note the above is weekly linear chart
we must try to compress the y axis to not show too much market activity. i want it to have a flat line look... anyone know how to do this
  • #3,233
  • Apr 22, 2014 3:57pm Apr 22, 2014 3:57pm
Quoting emptymind
ok this has nothing to do with waves or anything. just common sense. i just discovered how it behaves from a practical point of view. after a big correction such as the one we had for several months it will then flat line and go nowhere for some time. so i expect the same behavior. it will flat line and wobble up and down gently for some time until people get fed up and sell all their coins. thats where/when the smart money is accumulating. what i did is draw a horizontal line over the flat line activity. once it breaks out of this horizontal line...
That's a really good observation, but because it was between two spikes, on both side of the scale, the flat line is actually quiet trumping. Prices did move a lot. Even multiplied per 3 during those phases. From 7 to 21 before april, from 60 to 160 before november.
The first chart, march 2012 is it ? That was a real flat line tho, it didn't move from $5.
  • #3,234
  • Apr 22, 2014 4:01pm Apr 22, 2014 4:01pm
Quoting lady_luck
{quote} Yeah that's a match. What's interesting is the candle by them-selve. I can't really say how significant in term of wave. I don't usually spend much time looking at a few doji. I just really find this pattern fascinating in term of mathematical perfection. {image} the doted line is from the largest rectangle (box) inscribed in this isosceles. (which base is the actual perfect size of the first candle of the pattern){image} It's amazing how the PA, resistance, support and decreasing time sequence all perfectly fit geometrically. Pretty cool,...
very strange... looks like machines (HFT bots?) are trading with each other. not humans
  • #3,235
  • Apr 22, 2014 4:02pm Apr 22, 2014 4:02pm
Quoting lady_luck
{quote} That's a really good observation, but because it was between two spikes, on both side of the scale, the flat line is actually quiet trumping. Prices did move a lot. Even multiplied per 3 during those phases. From 7 to 21 before april, from 60 to 160 before november. The first chart, march 2012 is it ? That was a real flat line tho, it didn't move from $5.
yes... thats why i need a way to suppress the y axis... if its possible. so i will not be distracted
  • #3,236
  • Apr 22, 2014 4:12pm Apr 22, 2014 4:12pm
Quoting lady_luck
{quote} So about my beautiful triangle on BTCchina, That can mean two things... Since all Exchange are in sync, if their is one triangle somewhere, It mean same wave is in development everywhere, just not as clear. Once again a blue count and a red count. Since triangle only happen in wave 4 or rarely in wave B. I really can't think of anything else. Now according to my previous post, red is not likely, but who knows... {image}
from my experience that triangle is a continuation pattern... market pausing and catching its breath then continue moving higher (your blue line). but that will go against my flat line theory but maybe it will work if we can suppress the y-axis enough not to notice such "tiny" move
  • #3,237
  • Apr 22, 2014 4:14pm Apr 22, 2014 4:14pm
Quoting emptymind
{quote} yes... thats why i need a way to suppress the y axis... if its possible. so i will not be distracted
I don't know about that, may be try on tradingview.com, it's also free and it's got a zoom, you can also change the screen margin on every sides, https://www.tradingview.com/e/RGwVN7vu/
  • #3,238
  • Apr 22, 2014 4:23pm Apr 22, 2014 4:23pm
Quoting lady_luck
{quote} I don't know about that, may be try on tradingview.com, it's also free and it's got a zoom, you can also change the screen margin on every sides, https://www.tradingview.com/e/RGwVN7vu/
thanks i will try it .hopefully it's not so complicated to setup
  • #3,239
  • Apr 22, 2014 4:30pm Apr 22, 2014 4:30pm
Quoting emptymind
{quote} thanks i will try it .hopefully it's not so complicated to setup
It takes a bit of getting use to, but you got some great stuff, like you can move the fib, or adjust your line... Or zooming on older timeframe on a smaller scale.
You can also save your chart and reopen it the next day with updated prices.
I think everyone else here is also using it. I hope it work out for you
  • #3,240
  • Apr 22, 2014 5:23pm Apr 22, 2014 5:23pm
i just thot of an idea to compress the y-axis... if i had my own standalone charting software i could inject a fake giant candle at the end of the data everytime i update
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