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Bitcoin technical analysis

  • #3,441
  • Apr 29, 2014 1:10am Apr 29, 2014 1:10am
Quoting venzen
{quote} morning KiwiOz, $10,000 seems a magnet doesn't it? And according to Bitcoin's 7 month topping cycle, we should see that in March 2015. So if it does top on 25 Jul then we can catch the short ride to $400 and position for the trade of our careers nevermind a $10,000 wave, i think this coming move to $4000 is a great opportunity and I'm going to apply my MM and risk control like never before. The first thing is getting a clean, optimal entry as low as possible, i guess...
March 2015 sounds early to me. I can see END of 2015. However if we get a rise like last year..Yeeebloodyhahhhhhhh
Money Makes Money
  • #3,442
  • Apr 29, 2014 1:34am Apr 29, 2014 1:34am
Quoting KiwiOz
Watching the PA. There are more retrace targets above.????They are what I call hard & extreme targets, but PA suggests an attempt may be made to get to them.????? {image}
Wow...What caused that sudden move.??????? Targeting the extreme without me..
Money Makes Money
  • #3,443
  • Apr 29, 2014 1:38am Apr 29, 2014 1:38am
Quoting KiwiOz
{quote} Wow...What caused that sudden move.??????? Targeting the extreme without me..
This wave up from 412 worries me... it's out of character with what's been happening.

My guess is there are technical indications (which we have not noticed) that are giving buy signals to the majority at this juncture - OR - there are some big players positioning and their actions can be seen on the chart... something like that, i dunno...
cryptocurrency everytime
  • #3,444
  • Apr 29, 2014 1:40am Apr 29, 2014 1:40am
Quoting KiwiOz
{quote} Happy to oblige mate. I will download a demo & test it for "us" I'll let you know if I need any more info'..Cheers.
ok, great! Please check it out and write a review

if they're good i will most likely open an account and host MT4 somewhere.
cryptocurrency everytime
  • #3,445
  • Apr 29, 2014 1:57am Apr 29, 2014 1:57am
Quoting KiwiOz
{quote} Happy to oblige mate. I will download a demo & test it for "us" I'll let you know if I need any more info'..Cheers.
hhmmmm. Bit4x..... No demo platform for bitcoin. You have to open a live account, min' 1 bitcoin deposit. No chat window for support. You have to email them to make a withdrawal. The whole thing is contrary to the way bitcoin works.
Cloak & dagger stuff. At this stage I am reluctant to "TRY" them out at my expense.

  1. Leverage from 1:100 to 1:500

Money Makes Money
  • #3,446
  • Apr 29, 2014 2:04am Apr 29, 2014 2:04am
Quoting KiwiOz
{quote} hhmmmm. Bit4x..... No demo platform for bitcoin. You have to open a live account, min' 1 bitcoin deposit. No chat window for support. You have to email them to make a withdrawal. The whole thing is contrary to the way bitcoin works. Cloak & dagger stuff. At this stage I am reluctant to "TRY" them out at my expense. Leverage from 1:100 to 1:500

ALSO.
We are switching denomination from dBTC (1:10) to mBTC (1:1000).
The minimum for opening a Live account is now 1 BTC and 5 BTC for Pro accounts.
Free VPS for Pro accounts

Will send them an email asking a few questions.
Money Makes Money
  • #3,447
  • Apr 29, 2014 2:04am Apr 29, 2014 2:04am
Not sure about the larger count but internally, that move up was the end of a wave structure which looks to be an A-B-C, with the C wave down now starting.

look at "a" and "b" - those are clearly 3 wave structures setting up the longer "c" wave up... now it should tumble down as a result of that over-eager spike to the upside.

edit: the wave "c" looks incomplete and may push one more wave r up before we see a swift reversal... man, these over-exuberant bulls annoy me when the do pointless things like that!

BTC-e M5:

Attached Image (click to enlarge)
Click to Enlarge Name: Selection_002.png Size: 293 KB
cryptocurrency everytime
  • #3,448
  • Apr 29, 2014 2:28am Apr 29, 2014 2:28am
Quoting venzen
man, these over-exuberant bulls annoy me when the do pointless things like that! BTC-e M5: {image}
Money Makes Money
  • #3,449
  • Apr 29, 2014 2:30am Apr 29, 2014 2:30am
Quoting venzen
man, these over-exuberant bulls annoy me when the do pointless things like that! BTC-e M5: {image}
Must be the Testosterone.....
Money Makes Money
  • #3,450
  • Apr 29, 2014 2:32am Apr 29, 2014 2:32am
Next target 364......
Money Makes Money
  • #3,451
  • Apr 29, 2014 2:32am Apr 29, 2014 2:32am
Quoting venzen
Not sure about the larger count but internally, that move up was the end of a wave structure which looks to be an A-B-C, with the C wave down now starting. look at "a" and "b" - those are clearly 3 wave structures setting up the longer "c" wave up... now it should tumble down as a result of that over-eager spike to the upside. edit: the wave "c" looks incomplete and may push one more wave r up before we see a swift reversal... man, these over-exuberant bulls annoy me when the do pointless things like that! BTC-e M5: {image}
Geez. I go cross eyed looking at your charts...
Money Makes Money
  • #3,452
  • Apr 29, 2014 2:41am Apr 29, 2014 2:41am
Quoting venzen
{quote} KO, the BTC broker, Bit4X, have given me details for their MT4 demo server. However, I can't use it because it doesn't work with MT4 Mobile and installing MT4 in linux is a major pita. They're the broker that offers 1000:1 leverage and I would be willing to hire a Windows VPS to run an account, if their platform is OK. But first it needs checking and a test drive. So, if you're interested, I can send you the demo details in PM and you can try it out? Perhaps it's a good service and we go saddle ourselves up some 1000:1 race horses for the...
Bit4x
Sent them an email with a few questions..
I am interested in starting another account with a decent deposit so I can put in a Pending Long order, just in case Bitcoin makes a sudden turn North whilst I am asleep one night in the near future. I am thrashing my margins to the limit with my present account which has lousy leverage & charges commissions to boot.
Money Makes Money
  • #3,453
  • Apr 29, 2014 4:00am Apr 29, 2014 4:00am
Quoting venzen
{quote} hi JohnIsShort, Thanks for posting. Let's see what effect this news has in the market...
Hello venzen
  • #3,454
  • Apr 29, 2014 4:59am Apr 29, 2014 4:59am
Attached Image (click to enlarge)
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  • #3,455
  • Apr 29, 2014 5:42am Apr 29, 2014 5:42am
Quoting KiwiOz
Next target 364......
aaargh! @#$$ !
cryptocurrency everytime
  • #3,456
  • Apr 29, 2014 5:43am Apr 29, 2014 5:43am
Quoting KiwiOz
{quote} Must be the Testosterone.....
cryptocurrency everytime
  • #3,457
  • Apr 29, 2014 5:44am Apr 29, 2014 5:44am
Quoting KiwiOz
{quote} Geez. I go cross eyed looking at your charts...
i know, when i those indicators get compressed on the time axis like that it does boggle the eyes
cryptocurrency everytime
  • #3,458
  • Apr 29, 2014 5:47am Apr 29, 2014 5:47am
Quoting JohnIsShort
{quote} Hello venzen
hi JohnIsShort, hope you're well. So you reckon the US sanctions are at play in this price action?
cryptocurrency everytime
  • #3,459
  • Apr 29, 2014 8:00am Apr 29, 2014 8:00am
Wow venzen. get a load of this. I emailed Bit4x which is controlled by VenetFX.
Copy of email & reply.
Hi,

>I note you do not provide bitcoin on your Demo platform.............Why not.??
What exactly are we not providing? Perhaps you need to read the instructions once more.

>Are you intending to provide for wallet to wallet deposits & withdrawals in the near future.?
What?

>Your current method is very cumbersome.
You can have it secure or fast, you pick. If you like fast, go on mtgox. Oh wait...

>How long does it take for a deposit to appear on the Mt4 platform?
From 1 minute to 24hrs, depends.

>I am a member of a trading forum thread dedicated to Cryptocurrencies. We are all interested in finding a broker offering 1:500 or more leverage. No commissions & good spreads.
I am a member of local cheese making club, I am interested in free cake and no taxes.

Anyway, I do not think you fully grasp what we are doing, so perhaps its time to re-read the webpage.

All best,
Matic Kocevar

Pissed off........My reply.
You are a rude bastard. No wonder I smelt a rat. If Your attitude is an example of your support You will not have many happy customers. Glad I emailed you. Saved me a lot of trouble.
Money Makes Money
  • #3,460
  • Edited 12:53pm Apr 29, 2014 8:05am | Edited 12:53pm
Good Morning everyone

Venzen, I guess it explains why I saw a LD on stamp (wave A) and an ED on BTC-e (wave c of A).
Good thing is (from a bearish perspective) this PA doesn't fit my previous subwave-count, what i had as a ((iv)) is now as long/strong as "iv". That's what I meant yesterday by "if PA doesn't hurry up down my count won't fit".
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