{quote} yay.. I think we are both winners........
Money Makes Money
- #3,301
- Edited Apr 25, 2014 1:59am Apr 24, 2014 10:56pm | Edited Apr 25, 2014 1:59am
- | Commercial User | Joined Sep 2013 | 2,500 Posts
- #3,302
- Apr 24, 2014 11:26pm Apr 24, 2014 11:26pm
- Joined Jul 2011 | Status: good | 4,295 Posts
downside action is losing momentum, so a bounce should be in order to reset the indicators... but bounce to where? Probably 470 or 475?
cryptocurrency everytime
- #3,303
- Apr 25, 2014 12:59am Apr 25, 2014 12:59am
- Joined Jul 2011 | Status: good | 4,295 Posts
BTC-e $450 might give way, but this 1M chart shows the indicators are diverged to the point of silly... but at the same time they will overextend to the upside very quickly...
Whatever the count right now, this is a good start to the end of the end of the downtrend
BTC-e 1M
Whatever the count right now, this is a good start to the end of the end of the downtrend
BTC-e 1M
cryptocurrency everytime
- #3,304
- Apr 25, 2014 2:37am Apr 25, 2014 2:37am
- Joined Jul 2011 | Status: good | 4,295 Posts
{quote} yay.. I think we are both winners........
This entire corrective structure around 450 seems to be a large ABC, so we may only be half-way to a primary target nearer 400 and then a proper correction upwards. It may very well turn out that Bitcoin finishes this drawn out decline in an expanding or contracting diagonal that started at 450 and will conclude around 250 or 140.
Any move up from here (or closer to 400) may have the market thinking the upside is back on, and they may rally it back to where we just came from, so positioning and sizing can be adjusted if one is nimble (and lucky!)
cryptocurrency everytime
- #3,305
- Apr 25, 2014 2:54am Apr 25, 2014 2:54am
- | Commercial User | Joined Sep 2013 | 2,500 Posts
{quote} You're right, KO, but a little bit righter than I... This entire corrective structure around 450 seems to be a large ABC, so we may only be half-way to a primary target nearer 400 and then a proper correction upwards. It may very well turn out that Bitcoin finishes this drawn out decline in an expanding or contracting diagonal that started at 450 and will conclude around 250 or 140. Any move up from here (or closer to 400) may have the market thinking the upside is back on, and they may rally it back to where we just came from, so positioning...
I'm thinking seriously of trading only Crypto's. (making more on Ltc/Usd actually)
Money Makes Money
- #3,306
- Apr 25, 2014 3:31am Apr 25, 2014 3:31am
- Joined Jul 2011 | Status: good | 4,295 Posts
{quote} Yes, That's exactly as I see it. Talking about lucky. How unlucky is L_L to be sleeping through all this. I often lament sleeping through the US sessions with Forex but crypto trading often has good moves outside of US trading hours.........
With BTC, i sense the Asian session moves are the most decisive and then the other markets react to them. So we might have an advantage trading from this side of the globe.
Other cryptocurrencies are definitely worth trading, especially with the coming BTC rally, as well as the influence that a flooding of new ASIC mining rigs will have on the Scrypt-based cryptos. Scrypt, to refresh your memory, is an alternative to the SHA256 hashing algorithm that the Bitcoin core uses. In my opinion, Litecoin may just skyrocket as a result. However, it may also see investors get out in preference of a new bunch of cryptocurrencies that are specifically ASIC resistant to ensure their scarcity. The fear being that a ramp-up in the production of Litecoin liquidity may weaken its price due to excess supply. I'm not sure, but there's are some interesting forces that will be at play, so i'm just observing for the most part, but have invested in some Execoin and Hirocoin for Lucky Star speculation.
cryptocurrency everytime
- #3,308
- Apr 25, 2014 4:18am Apr 25, 2014 4:18am
- | Commercial User | Joined Sep 2013 | 2,500 Posts
KOvenzen
never trust a c wave less than 61.8% of a {image}
Money Makes Money
- #3,309
- Apr 25, 2014 4:48am Apr 25, 2014 4:48am
{quote} Never mind, you can't win 'em all. Just go with the flow & make "dinero" Your counts are important so don't let this stop you....Cheers.
- #3,310
- Apr 25, 2014 5:18am Apr 25, 2014 5:18am
- | Commercial User | Joined Sep 2013 | 2,500 Posts
{quote} thank you kind sir. im not trading, just labeling for my amusement. still have the same number of bitcoins
Same when I think the cryptocoins have bottomed out I will buy some but I will also trade at around 5x.
So. When the price tops out again if I trade well I should be 6x my original.
Of course, I have to trade well......
Money Makes Money
- #3,311
- Apr 25, 2014 5:22am Apr 25, 2014 5:22am
- | Commercial User | Joined Sep 2013 | 2,500 Posts
Money Makes Money
- #3,312
- Apr 25, 2014 5:27am Apr 25, 2014 5:27am
- | Commercial User | Joined Sep 2013 | 2,500 Posts
Money Makes Money
- #3,313
- Apr 25, 2014 5:41am Apr 25, 2014 5:41am
{quote} Ahhh. Now if you were trading "Short" you would not be depleting your money. I bought bitcoins to finance my Btc-e account. If I had kept the bitcoins I would be at an approx' 25% loss to date. As it is I am up approx' 50%. Same when I think the cryptocoins have bottomed out I will buy some but I will also trade at around 5x. So. When the price tops out again if I trade well I should be 6x my original. Of course, I have to trade well......
