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Bitcoin technical analysis

  • #3,401
  • Apr 27, 2014 5:02pm Apr 27, 2014 5:02pm
thanks for your comments.... i'm not trying to force anything............ i first noted W = Y so this gave me a clue that the correction is over. so i assumed wave 1 will soon start....... it did with and to my surprise was a leading diagonal (expanding) so that confirmed it was wave 1... later i thought it was some kind of 1.. 2.. i.. ii.. move but it wasn't... it was an expanded flat........ and here we are. nothing impossible or improbable happened ...cheers! good luck to you too
  • #3,402
  • Apr 27, 2014 6:16pm Apr 27, 2014 6:16pm
huobi invalidated my recent count by falling below what i thought was the origin of wave 1.... so i just added an x wave... makes sens and the Z wave is probably close to being done

i like wxyxz... they are great and flexible!
Attached Image


this way all exchanges can be in sync even thou bitstamp didn't drop below 438 yet or never..... we can still mark the x and z waves on bitstamp too........ great.. problem solved
  • #3,403
  • Apr 27, 2014 7:39pm Apr 27, 2014 7:39pm
Quoting venzen
{quote} Overall, I'm expecting a diagonal here - i don't know why - even though it's hard to find a move in the price history where BTC ends a decline with an ending diagonal...
Expanding diagonal.........
Attached Image (click to enlarge)
Click to Enlarge Name: btcusdh4.png Size: 39 KB
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  • #3,404
  • Apr 27, 2014 8:52pm Apr 27, 2014 8:52pm
Ltc/Usd
Attached Image (click to enlarge)
Click to Enlarge Name: ltcusdh4.png Size: 39 KB
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  • #3,405
  • Apr 28, 2014 1:38am Apr 28, 2014 1:38am
Quoting KiwiOz
Ltc/Usd {image}
i also looked at LTCUSD this morning:

BTC-e H4

Attached Image (click to enlarge)
Click to Enlarge Name: LTC_H4_28Apr2014_b.png Size: 172 KB
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  • #3,406
  • Apr 28, 2014 1:42am Apr 28, 2014 1:42am
Quoting lady_luck
{quote} Yeah, i only like their charts and PA lol.....
They have a chart?! Where can can i find this thing - i must see it!
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  • #3,407
  • Apr 28, 2014 1:52am Apr 28, 2014 1:52am
Quoting venzen
{quote} i also looked at LTCUSD this morning: BTC-e H4 {image}
Yeah. looks right $4.
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  • #3,408
  • Apr 28, 2014 6:47am Apr 28, 2014 6:47am
Great article mate..Cheers.
http://www.cryptocoinsnews.com/news/...sis/2014/04/28
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  • #3,409
  • Apr 28, 2014 7:43am Apr 28, 2014 7:43am
Quoting KiwiOz
Great article mate..Cheers. http://www.cryptocoinsnews.com/news/...sis/2014/04/28
Thanks KO, I wanted to spend more of the article discussing the market's nonsensical obsession with regulation, but figured i'd just annoy readers because this is exactly where most people's heads are at
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  • #3,410
  • Apr 28, 2014 9:31am Apr 28, 2014 9:31am
Good morning,

You can find the bitfinex charts on bitcoinwisdom (click market) and on TView (write btcusd and then choose bitfinex when the list appear).
Great charts KO, Venzen.
I don't think PA will go above 436 (btce) today or any soon.. Look like an other wave iv, and sideway..
  • #3,411
  • Apr 28, 2014 10:22am Apr 28, 2014 10:22am
Quoting lady_luck
Good morning, You can find the bitfinex charts on bitcoinwisdom (click market) and on TView (write btcusd and then choose bitfinex when the list appear). Great charts KO, Venzen. I don't think PA will go above 436 (btce) today or any soon.. Look like an other wave iv, and sideway..
lady_luck,

Hi. thanks i found it
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  • #3,412
  • Apr 28, 2014 11:05am Apr 28, 2014 11:05am
Hello.
I think these US sanctions are going to boost bitcoin, although they are small, there are visa bans, and that is very bullish for bitcoin.

"include asset freeze and visa bans"
http://www.forexlive.com/blog/2014/0...ked-companies/

bitcoin didn't reacted to this yet, I think it could in the next few days
  • #3,413
  • Edited 12:28pm Apr 28, 2014 12:17pm | Edited 12:28pm
I hope it helps Venzen

I'm not so sure of the larger degree involve here, but I think the proportion and labels are not that wrong in the detail.
Mostly because we have most corrective pattern label 4 with no triangle but never above .382 and in the previous smaller 4 territory, so they have to be 4...
And to be honest, as you can see I'm running out of label for this count, so if it doesn't hurry up to the low, that count will soon be invalidated as a wave C down to 386 (my actual target for "v" -outside of the scale on the chart below-).
Which mean that I'll have to consider an alt count where this is a 12345 going down from 548.
Like I said, the subwave would still be right, it would just mean a larger structure is at play with 2 extra wave necessary to fit the PA in.

But for now,as time and amplitude diminishes between waves we might be looking at an extended fifth.

http://i.imgur.com/jPcmFCO.png
  • #3,414
  • Apr 28, 2014 2:10pm Apr 28, 2014 2:10pm
Quoting lady_luck
I hope it helps Venzen I'm not so sure of the larger degree involve here, but I think the proportion and labels are not that wrong in the detail. Mostly because we have most corrective pattern label 4 with no triangle but never above .382 and in the previous smaller 4 territory, so they have to be 4... And to be honest, as you can see I'm running out of label for this count, so if it doesn't hurry up to the low, that count will soon be invalidated as a wave C down to 386 (my actual target for "v" -outside of the scale on the chart below-). Which...
So far the count fits, doesn't it?

I think this wave up is quite aggressive - even though in my analysis article this morning i said "retrace to 440" i didn't actually expect it! Nevermind, it is consistent with a PA pattern in the previous wave down, so we just wait for the drop.

BTC-e M5

Attached Image (click to enlarge)
Click to Enlarge Name: BTC-e_M5_29Apr2014.png Size: 385 KB
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  • #3,415
  • Edited 2:48pm Apr 28, 2014 2:23pm | Edited 2:48pm
I know what you mean, it's funny and frustrating when the PA does what you expect but faster or stronger, it always get me and make me doubt myself ...

Also s it me or this wave up is a diagonal ?
Look like a leading diagonal on BTCe, but an ending diagonal on bitstamp.. I can't say what is the A and what is the C for sure, what do you think ?

edit : Venzen, man bites dog was such a great movie. And it's nice to hear the word chikun again. Great article
  • #3,416
  • Apr 28, 2014 2:37pm Apr 28, 2014 2:37pm
Quoting JohnIsShort
Hello. I think these US sanctions are going to boost bitcoin, although they are small, there are visa bans, and that is very bullish for bitcoin. "include asset freeze and visa bans" http://www.forexlive.com/blog/2014/0...ked-companies/ bitcoin didn't reacted to this yet, I think it could in the next few days
hi JohnIsShort,

Thanks for posting. Let's see what effect this news has in the market...
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  • #3,417
  • Apr 28, 2014 2:38pm Apr 28, 2014 2:38pm
Catwoman protects her anonymity with Bitcoin!

One of my colleagues posted this earlier today: http://www.cryptocoinsnews.com/news/...-30/2014/04/28

cryptocurrency everytime
  • #3,418
  • Apr 28, 2014 2:47pm Apr 28, 2014 2:47pm
Quoting lady_luck
I know what you mean, it's funny and frustrating when the PA does what you expect but faster or stronger, it always get me and make me doubt myself ... Also s it me or this wave up is a diagonal ? Look like a leading diagonal on BTCe, but an ending diagonal on bitstamp.. I can't say what is the A and what is the C for sure, what do you think ?
It looks very much like an ABC with C being a diagonal in a narrow channel...

what always worries me about these waves that suddenly shoot up at a constant angle from a low, is that they can be relentless... while you say to yourself: "it's gonna turn soon - look at those diverging indicators", before you know it it's retraced most of the downside action and erased your profits. And you're so convinced that its about to turn that you don't want to take profit, right?

I judge this wave to be corrective based on the ABC, so unless it starts breaking TLs to the upside I just resign myself to it and trust the drop afterwards will claim back the profit its eating up now!
cryptocurrency everytime
  • #3,419
  • Apr 28, 2014 2:54pm Apr 28, 2014 2:54pm
Quoting venzen
{quote} what always worries me about these waves that suddenly shoot up at a constant angle from a low, is that they can be relentless... while you say to yourself: "it's gonna turn soon - look at those diverging indicators", before you know it it's retraced most of the downside action and erased your profits. And you're so convinced that its about to turn that you don't want to take profit, right? I judge this wave to be corrective based on the ABC, so unless it starts breaking TLs to the upside I just resign myself to it and trust the drop...
Usually to stay zen, i re-read the last 10 charts from KO, then re-read my last chart, make sure that we have almost the same target, then I breathe, look at my green turned red -but soon be green again-, and I feel better


edit : I might be missing one last wave up, but to me C seem to be now over... Will see in the next couple of hours.
  • #3,420
  • Apr 28, 2014 3:18pm Apr 28, 2014 3:18pm
Quoting lady_luck
{quote} Usually to stay zen, i re-read the last 10 charts from KO, then re-read my last chart, make sure that we have almost the same target, then I breathe, look at my green turned red -but soon be green again-, and I feel better edit : I might be missing one last wave up, but to me C seem to be now over... Will see in the next couple of hours.
Yes, i cannot tell you how many times I've referred to KO's charts when I start feeling unsure!

He's got a very accurate system and he's definitely so in-the-zone with it that he does everything on autopilot without the constant review and recount that we do. We're really fortunate to have KO hang out here with us - i remember last year in the XAU thread he'd be posting a chart about once a week and his targets would get hit consistently but people hardly noticed - they were too busy arguing and posting charts for 2 and 3 dollar moves! Now and again someone would post and say "KiwiOz, what method are you using to get your targets?" and he'd post the few docs he always provides... I've checked them out but he's simplified the system a lot and has his own efficient thing going on... truly amazing... I hope he makes a ton of money as a reward for being an unassuming genius and just such a great person to have around.
cryptocurrency everytime
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