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Bitcoin technical analysis

  • #3,241
  • Apr 22, 2014 6:18pm Apr 22, 2014 6:18pm
I love strange ideas, but I'm not sure I understand, I mean if you were to put a big enough candle even april and november could look flat, still doesn't mean that it is ?
Unless you are trying to say something else ?
  • #3,242
  • Apr 22, 2014 6:25pm Apr 22, 2014 6:25pm
i just want the current candles to have a flatish look so i can get a sense of where the breakout might occur.. so inserting a giant enough candle at the end to make the 1163 spike shorter just like how the 250 looks on the 3rd chart
  • #3,243
  • Apr 22, 2014 6:29pm Apr 22, 2014 6:29pm
If history repeats "Again" my 270 target will be spot on........
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Money Makes Money
  • #3,244
  • Edited 7:06pm Apr 22, 2014 6:36pm | Edited 7:06pm
Quoting KiwiOz
If history repeats "Again" my 270 target will be spot on........ {image}
Hello KO
Nice log chart
Can I ask how do you draw the blue line at the bottom (that would intersect with the yellow line). It look different on 5. Not the angle but the anchor of the first point of your line. Are they support line ?

Emptymind, sorry I have no idea how to do so...
  • #3,245
  • Apr 22, 2014 7:04pm Apr 22, 2014 7:04pm
Quoting KiwiOz
If history repeats "Again" my 270 target will be spot on........ {image}
KO, im unfamiliar with your target system.

Attached Image (click to enlarge)
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yes? no?
  • #3,246
  • Apr 22, 2014 7:21pm Apr 22, 2014 7:21pm
Quoting lady_luck
{quote} Hello KO Nice log chart Can I ask how do you draw the blue line at the bottom (that would intersect with the yellow line). It look different on 5. Not the angle but the anchor of the first point of your line. Are they support line ? Emptymind, sorry I have no idea how to do so...
{KO, im unfamiliar with your target system.}

Mornin' L_L.....emptymind.....The yellow line is the trend line that acts as resistance. The red line is drawn from the lowest candle before the move up to the lowest candle of the 1st retracement wave. The blue horizontal line is the target line. To find this I draw (Purple line) from the highest candle top to intersect with the red line.
Hope this helps. I'm not very good at explaining what I do......
Attached Image (click to enlarge)
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Money Makes Money
  • #3,247
  • Apr 22, 2014 7:35pm Apr 22, 2014 7:35pm
Quoting KiwiOz
{quote} {KO, im unfamiliar with your target system.} Mornin' L_L.....emptymind.....The yellow line is the trend line that acts as resistance. The red line is drawn from the lowest candle before the move up to the lowest candle of the 1st retracement wave. The blue horizontal line is the target line. To find this I draw (Purple line) from the highest candle top to intersect with the red line. Hope this helps. I'm not very good at explaining what I do...... {image}
That was perfect Thanks, it make total sens I'm glad to learn bit by bit about it
  • #3,248
  • Apr 22, 2014 7:52pm Apr 22, 2014 7:52pm
Slow & steady wins the race......
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Money Makes Money
  • #3,249
  • Apr 22, 2014 11:02pm Apr 22, 2014 11:02pm
Quoting emptymind
i just want the current candles to have a flatish look so i can get a sense of where the breakout might occur.. so inserting a giant enough candle at the end to make the 1163 spike shorter just like how the 250 looks on the 3rd chart
emptymind, what you're looking for is logarithmic scale on the y-axis.

if you open a Bitstamp chart at https://www.tradingview.com then in the bottom right-hand corner just above the blue 'publish idea' button - click on 'log' and the y-axis will be scaled with higher prices occupying less chart space than lower prices.
cryptocurrency everytime
  • #3,250
  • Apr 23, 2014 1:41am Apr 23, 2014 1:41am
Quoting venzen
{quote} emptymind, what you're looking for is logarithmic scale on the y-axis. if you open a Bitstamp chart at https://www.tradingview.com then in the bottom right-hand corner just above the blue 'publish idea' button - click on 'log' and the y-axis will be scaled with higher prices occupying less chart space than lower prices.
thanks venzen... i don't like log scale it shows too much details, i need arithmetic scale but with more control
  • #3,251
  • Apr 23, 2014 1:45am Apr 23, 2014 1:45am
Quoting emptymind
{quote} thanks venzen... i don't like log scale it shows too much details, i need arithmetic scale but with more control
i thought you'd say that
cryptocurrency everytime
  • #3,252
  • Apr 23, 2014 9:14am Apr 23, 2014 9:14am
Quoting venzen
{quote} i thought you'd say that
Hello Venzen,

How things going with bitfinex ? What leverage do they have at the moment ?
I found that, I thought it might interest you
http://www.dcmagnates.com/fxopen-beg...-more-heavily/
  • #3,253
  • Apr 23, 2014 10:19am Apr 23, 2014 10:19am
Quoting lady_luck
{quote} Hello Venzen, How things going with bitfinex ? What leverage do they have at the moment ? I found that, I thought it might interest you http://www.dcmagnates.com/fxopen-beg...-more-heavily/
hi lady_luck!

I just read this with great enthusiasm, but it seems we're already dealing with FXOpen via our BTC-e MetaTrader4 accounts...

i delved a bit deeper and this came up: http://www.dcmagnates.com/fxopen-lau...n-trading-mt4/
cryptocurrency everytime
  • #3,254
  • Edited 1:02pm Apr 23, 2014 10:23am | Edited 1:02pm
Quoting venzen
{quote} hi lady_luck! I just read this with great enthusiasm, but it seems we're already dealing with FXOpen via our BTC-e MetaTrader4 accounts... i delved a bit deeper and this came up: http://www.dcmagnates.com/fxopen-lau...n-trading-mt4/
Awe. didn't see that one. I guess that make sens.


http://i.imgur.com/mJ3Mrxk.png
http://i.imgur.com/wi8g8W7.png
  • #3,255
  • Edited 6:43pm Apr 23, 2014 12:12pm | Edited 6:43pm
i was playing with gnuplot app and finally managed to do what i wanted that is one crazy ploting software... type type everything....

im not sure if anyone is interested but i mainly wanted to suppress the current market activity so i can have a better sense of what the market is doing and where the breakout levels are going to be. im a long term investor so the daily move do not interest me so much.

hope you like it

this is when it topped at 16
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this is the move to 260
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this is the move to 1163
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and this is what is happening now with a good suppression of the y-axis...
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of course all are linear charts
  • #3,256
  • Apr 23, 2014 12:16pm Apr 23, 2014 12:16pm
Quoting lady_luck
{quote} Awe. didn't see that one. I guess that make sens. {image} {image}
hello LL, do you believe your blue wave 1 could be a wave 3 and the recent sideways action is wave 4 in progress? thanks
  • #3,257
  • Edited 12:44pm Apr 23, 2014 12:20pm | Edited 12:44pm
Quoting emptymind
{quote} hello LL, do you believe your blue wave 1 could be a wave 3 and the recent sideways action is wave 4 in progress? thanks
Yes, still do.(edit : Then it would bounce up at the 475 red line). But this alternative is starting to grow on me and in likelihood too.
Nice job with the flat, so you'd say break out about mid may ?
  • #3,258
  • Edited 1:24pm Apr 23, 2014 12:40pm | Edited 1:24pm
good to know LL............ it's a little early but looks like that area could be resistance but not for long
edit: forgot to thank you. thanks LL
Attached Image
  • #3,259
  • Apr 23, 2014 12:51pm Apr 23, 2014 12:51pm
how is BitCoin World doing over here ?
The More You Learn, The More You Earn.....
  • #3,260
  • Apr 23, 2014 1:29pm Apr 23, 2014 1:29pm
Quoting forexalien
how is BitCoin World doing over here ?
doing well, thank you for your concern...... your avatar reminds me that bitcoin itself is such an alien concept. an alternate world where banks aren't necessary and everything is run mathematically.. wow! amazing stuff... so advanced and civilized. i like it! and happy to be part of this revolution
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