Hey venzen Great article mate....cheershttp://www.cryptocoinsnews.com/news/...ure/2014/07/07
Money Makes Money
- #4,242
- Jul 9, 2014 4:38am Jul 9, 2014 4:38am
- | Commercial User | Joined Sep 2013 | 2,500 Posts
Money Makes Money
- #4,243
- Edited 9:17am Jul 9, 2014 9:06am | Edited 9:17am
{quote} {image} http://i.imgur.com/XFudiaH.png
Thanks for the well wishes.
Waow, already been a month, PA hasn't surprised me since this last chart I posted, the black arrow count was definitely right, it has just been very slow. But almost there !
The moves to 560 and 650 were spot on, now waiting for the one to 595 like everyone else.
Will update with more chart if/when it start to differs.
Good day to y'all
- #4,244
- Jul 9, 2014 10:45pm Jul 9, 2014 10:45pm
- Joined Jul 2011 | Status: good | 4,295 Posts
{quote} 590 is indeed the target and a very important support level.. {image}
Glad to get confirmation of that 590 level from Mag TLs. I didn't check the level against a MagTL (I shoulda done) yet the dilemma with showing Magnetic Trendlines in public analysis is that most of the crypto rabble don't even believe in Fib projections - nevermind an esoteric technique like TDM maglines, so I just avoid the flack and keep the maglines as our secret crystal ball!
Some interesting points you raised about merchants and hoarding and i have some thoughts i'll post later.
Right now PA is ambiguous: it appears to be tracing out a LadyLuck-One-Two prior to a tremendous lift-off in the coming days. On the otherhand, if it doesn't take the vertical path up through the south pole of the circle perimeter holding it down, then it could just drop - as your analysis has outlined. Sometimes its just cat and mouse with this bugger BTC.
cryptocurrency everytime
- #4,245
- Jul 9, 2014 10:51pm Jul 9, 2014 10:51pm
- Joined Jul 2011 | Status: good | 4,295 Posts
{quote} Hello everybody, Thanks for the well wishes. Waow, already been a month, PA hasn't surprised me since this last chart I posted, the black arrow count was definitely right, it has just been very slow. But almost there ! The moves to 560 and 650 were spot on, now waiting for the one to 595 like everyone else. Will update with more chart if/when it start to differs. Good day to y'all
Glad you're doing well.
cryptocurrency everytime
- #4,246
- Jul 9, 2014 11:09pm Jul 9, 2014 11:09pm
- Joined Jul 2011 | Status: good | 4,295 Posts
cryptocurrency everytime
{quote} gjgjg, I agree with your line of reasoning above. It's debatable whether or not hoarding increases value. I don't know the answer and there are logical arguments for the case that taking a limited resource out of circulation increases the value of the remaining portion in the market. However, i don't think Bitcoin's rollercoaster is driven by hoarding. It seems to be wild speculation at play instead. I think most of you have read PJ Delaney's article "Bitcoin's Conundrum" http://www.cryptocoinsnews.com/news/...ers/2014/07/08...
I think as BTC is used more and more as a purchasing tool in the future it will not be such a factor however, as the ratio of people leaving their penny change still in BTC as 'bought but not spent' gets smaller compared to the ratio of the amount being bought to be spent quickly. I think the ratio is larger right now than it will be in the future so I think its having more of an affect at the moment. Hope that makes sense lol... maybe ive spent too much time watching large sell orders get gobbled up like candy as more buyers start appearing...
Thanks for the links too, I wasnt aware of them
- #4,254
- Jul 14, 2014 1:47am Jul 14, 2014 1:47am
- | Commercial User | Joined Sep 2013 | 2,500 Posts
it's too quiet .......
Money Makes Money
- #4,257
- Edited 12:08pm Jul 15, 2014 11:41am | Edited 12:08pm
Hello everyone,
Thanks for the compliment Venzen.
Here are my thought on LTC.
The difference in direction with BTCUSD was a great hedging opportunity. Now they seem back in sync again.
A few comments ;
Fib .382 of the current move hasn't been reached yet. The 8.30 area would be a good entry point for a long position.
Some interesting switches in support and resistant, marked respectively with green and red arrow has happened.
The H4 pivot has been successfully hit, the next target is the daily or around 12.6.
Their isn't any significant top/bottom trendline to draw yet, but other indicator on daily and weekly, confirm the direction. And significant S/R line help showing a channel of potential entry and exit levels.
http://i.imgur.com/LuTO4V1.png
Good luck
Thanks for the compliment Venzen.
Here are my thought on LTC.
The difference in direction with BTCUSD was a great hedging opportunity. Now they seem back in sync again.
A few comments ;
Fib .382 of the current move hasn't been reached yet. The 8.30 area would be a good entry point for a long position.
Some interesting switches in support and resistant, marked respectively with green and red arrow has happened.
The H4 pivot has been successfully hit, the next target is the daily or around 12.6.
Their isn't any significant top/bottom trendline to draw yet, but other indicator on daily and weekly, confirm the direction. And significant S/R line help showing a channel of potential entry and exit levels.
http://i.imgur.com/LuTO4V1.png
Good luck
- #4,259
- Jul 17, 2014 6:00am Jul 17, 2014 6:00am
- | Commercial User | Joined Sep 2013 | 2,500 Posts
Money Makes Money