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Bitcoin technical analysis

  • #3,261
  • Apr 23, 2014 7:16pm Apr 23, 2014 7:16pm
shouldn't we ignore these spikes when trying to count waves. look they're everywhere... probably not real wave activity. just some localized scams. what do you think
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  • #3,262
  • Apr 23, 2014 7:41pm Apr 23, 2014 7:41pm
Quoting emptymind
shouldn't we ignore these spikes when trying to count waves. look they're everywhere... probably not real wave activity. just some localized scams. what do you think {image}
Yes. Eliminate the MAJOR spikes.
Money Makes Money
  • #3,263
  • Apr 23, 2014 8:13pm Apr 23, 2014 8:13pm
glad you answered because you are probably the most expert person on this subject because of your work from what i can tell from your charts.... im worried venzen might be putting too much effort into labeling that btce chart inc the spike. i have a saying.... if it didn't happen in more than one exchange it never happened...
  • #3,264
  • Apr 23, 2014 8:17pm Apr 23, 2014 8:17pm
Quoting emptymind
glad you answered because you are probably the most expert person on this subject because of your work from what i can tell from your charts.... im worried venzen might be putting too much effort into labeling that btce chart inc the spike. i have a saying.... if it didn't happen in more than one exchange it never happened...
Yep, same here, we already discussed it with kingtour and more recently with you. To me, same process as getting a weighted average.
  • #3,265
  • Apr 23, 2014 11:03pm Apr 23, 2014 11:03pm
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}
KiwiOz...

I have been wondering how you draw those lines too... makes perfect sense now that you explained it!

Masalai
  • #3,266
  • Apr 23, 2014 11:10pm Apr 23, 2014 11:10pm
Quoting Masalai
{quote} KiwiOz... I have been wondering how you draw those lines too... makes perfect sense now that you explained it! Masalai
Cheers.. Hope you can make them profitable
Money Makes Money
  • #3,267
  • Apr 23, 2014 11:25pm Apr 23, 2014 11:25pm
Quoting forexalien
how is BitCoin World doing over here ?
Hey! it's forexalien!

Great to see you here my friend

We believe were at an important juncture here. Either Bitcoin is busy consolidating for a larger move up or there is the chance of one more wave (E) down before the next legendary rally. This time to above $2000.

Are you considering trading the BTC at all?
cryptocurrency everytime
  • #3,268
  • Apr 23, 2014 11:35pm Apr 23, 2014 11:35pm
Quoting emptymind
shouldn't we ignore these spikes when trying to count waves. look they're everywhere... probably not real wave activity. just some localized scams. what do you think {image}
emptymind, it's probably best to ignore those spikes that do not show in all exchange charts.

I posted one chart where I counted that BTC-e spike 102 for the sake of an article i publised - where if I didn't count it, then readers would jump on the chance to comment and say - Hey! You ignored that really obvious spike down... you're just doing selective counting to suit your agenda!

But labelling it in such a way that it's existence neither makes or breaks the count, avoids that accusation. So, what I did was to selectively label to suit my agenda!

What that particular spike down does help us establish is that there is strong support at 102. But for counting it appears irrelevant.
cryptocurrency everytime
  • #3,269
  • Apr 24, 2014 12:36am Apr 24, 2014 12:36am
Great article.....
http://www.cryptocoinsnews.com/news/...oin/2014/04/23
Money Makes Money
  • #3,270
  • Apr 24, 2014 1:33am Apr 24, 2014 1:33am
Quoting KiwiOz
Great article..... http://www.cryptocoinsnews.com/news/...oin/2014/04/23
The writer, Pat Delany, is an Irishman so he speaks from experience...
cryptocurrency everytime
  • #3,271
  • Apr 24, 2014 1:35am Apr 24, 2014 1:35am
The alligator's snout...

usually precedes a systematic increase in momentum to the downside, it may curve up some more over the coming hours or days, but whichever time it decides to drop, I have 455 as the initial target

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cryptocurrency everytime
  • #3,272
  • Apr 24, 2014 2:23am Apr 24, 2014 2:23am
Quoting venzen
The alligator's snout... usually precedes a systematic increase in momentum to the downside, it may curve up some more over the coming hours or days, but whichever time it decides to drop, I have 455 as the initial target {image}
NO NO. Your way off the mark. I have 448..LOL...
Money Makes Money
  • #3,273
  • Apr 24, 2014 2:28am Apr 24, 2014 2:28am
Must be about ready to drop. Wonder what the catalyst will be this time.??
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Money Makes Money
  • #3,274
  • Apr 24, 2014 3:56am Apr 24, 2014 3:56am
Quoting KiwiOz
{quote} NO NO. Your way off the mark. I have 448..LOL...


allright then, have it your way... you dare challenge my kung fu? ... let's see if 455 or 448 is the reversal
cryptocurrency everytime
  • #3,275
  • Apr 24, 2014 5:33am Apr 24, 2014 5:33am
i challenge you all!

my guess is the c wave will be 61.8% of wave a............... target 468!
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  • #3,276
  • Apr 24, 2014 5:44am Apr 24, 2014 5:44am
Quoting KiwiOz
Great article..... http://www.cryptocoinsnews.com/news/...oin/2014/04/23
i think bitcoin is the blackswan event for banks and the exact opposite to humanity
  • #3,277
  • Apr 24, 2014 6:08am Apr 24, 2014 6:08am
Quoting venzen
{quote} emptymind, it's probably best to ignore those spikes that do not show in all exchange charts. I posted one chart where I counted that BTC-e spike 102 for the sake of an article i publised - where if I didn't count it, then readers would jump on the chance to comment and say - Hey! You ignored that really obvious spike down... you're just doing selective counting to suit your agenda! But labelling it in such a way that it's existence neither makes or breaks the count, avoids that accusation. So, what I did was to selectively label to suit...
got it! you have multiple agendas to juggle! very smart and creative labeling... as you say B waves are the rogue waves and difficult to predict
  • #3,278
  • Apr 24, 2014 8:02am Apr 24, 2014 8:02am
Quoting venzen
{quote} Hey! it's forexalien! Great to see you here my friend We believe were at an important juncture here. Either Bitcoin is busy consolidating for a larger move up or there is the chance of one more wave (E) down before the next legendary rally. This time to above $2000. Are you considering trading the BTC at all?
We Alien's have our own BitPrints already...............
The More You Learn, The More You Earn.....
  • #3,279
  • Edited 9:33am Apr 24, 2014 9:11am | Edited 9:33am
Good morning,

On LTCUSD chart, wave ii and 2 of C were exactly .6 and wave iii 1.6 of i. When overlap with BTC-e chart, wave 2 would be 487 before next move down (on BTCUSD),

http://i.imgur.com/SASdmKo.png
Since LTC seem ahead of BTC in that move, it'd be interesting to watch, if it flirt any closer to 13 it could invalidate this count and I'd lean back on the wave 4 Emptymind drew.
  • #3,280
  • Apr 24, 2014 9:48am Apr 24, 2014 9:48am
Quoting emptymind
i challenge you all! my guess is the c wave will be 61.8% of wave a............... target 468! {image}
Don't get things complicated. I now believe your 5-1 and 5-2 count. 5-2 is 0.768 of 5-1, and because wave 5 will extend lengendarily, 5-2 takes a very long time, that's it.
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