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Bitcoin technical analysis

  • #4,281
  • Jul 27, 2014 10:50pm Jul 27, 2014 10:50pm
Quoting KiwiOz
The major moves are few & far between but they are quite dramatic when they happen.. {image} {image}
Hi KiwiOz,

I really was hoping $590 would hold (Bitfinex and Bitstamp) but, alas, $577 on the bfx chart this morning...

I also see that $525 at the 2.618 fib of wave A.... please, please, please no....
cryptocurrency everytime
  • #4,282
  • Jul 27, 2014 10:52pm Jul 27, 2014 10:52pm
Quoting RamsesII
Hope everyone had that range which clearly broke south: {image} Strong buy opporuntiy now in one of the alts, Vericoin: {image}
Ah, EW analysis...

Like the charts and counts.

Have you also noticed how BTC (and the rest) regularly end a flat (and expanded flat) with a three-wave move? (as opposed to a C wave with five subwaves) ?
cryptocurrency everytime
  • #4,283
  • Jul 27, 2014 10:55pm Jul 27, 2014 10:55pm
Quoting gjgjg
Big move by Equador to not only ban BTC but also set up a state controlled crypto - I guess this is how states will benefit from the tech but still get their % and control... hoping it doesnt catch on http://www.coindesk.com/ecuador-bans...islative-vote/ will be interesting to see how they will control the creation of it. if its mining, someone could hack in and pump and dump lol
Yeah, it seems counter-intuitive that the govt should centralize control of a decentralized crypto-currency, doesn't it?

Anyhow, I think the experiment will be interesting and worth watching.

Pity that they make this progressive move at the cost of banning Bitcoin.
cryptocurrency everytime
  • #4,284
  • Jul 27, 2014 11:00pm Jul 27, 2014 11:00pm
Quoting tostaky06
Thanks but i don"t care about all altcoin ... it s bitcoin thread, not altcoin ... should make a another thread for that obv, it may exist, i don"t know ... but i am focus only on bitcoin.
tostaky06, no problem about the altcoins - the thread rules allow it.

Nothing is off-topic if its cryptocurrency, and the range for posting about other topics is wide - as long as there is some relation.

BTW - some people think altcoins are polluting the Bitcoin biosphere, but I don't think so. The Bitcoin protocol is Open Source, so one would expect experiments and variations - in fact, Satoshi Nakamoto encourages it in his whitepaper: https://bitcoin.org/bitcoin.pdf
cryptocurrency everytime
  • #4,285
  • Jul 28, 2014 3:09am Jul 28, 2014 3:09am
I don't think altcoin polluting bitcoin, it s just more advertising for BTC and hope for country which want to make their own cryptocurrency ...
But at this point, altcoins are accepted nowhere it's just a new fashion, when they are truly innovative i may look to their charts, but at this point it s useless for me ... they are just bad unaccepted copy of BTC ...
  • #4,286
  • Jul 28, 2014 3:57am Jul 28, 2014 3:57am
Quoting venzen
{quote} Hi KiwiOz, I really was hoping $590 would hold (Bitfinex and Bitstamp) but, alas, $577 on the bfx chart this morning... I also see that $525 at the 2.618 fib of wave A.... please, please, please no....
G'Day mate. You only need to look at the weekly chart to see the future. Personally, the sooner bitcoin finds the low the better. It will allow many more people to bet involved & buy in at a reasonable price. Including myself. After all. Once the bottom is in there will be only one way to go. UP.
Sad to Gov'ts getting involved at the EXPENSE of altcoins. Greedy manipulating domoinating buggars. It's the old "keep 'em barefoot & pregnant syndrome" Hopefully protocol will be put in place to allow Joe Blows like me to one day bypass the bastards & use only unrestricted global cryptocurrency.
Cheers mate. Keep up the good work.
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Money Makes Money
  • #4,287
  • Jul 28, 2014 4:36am Jul 28, 2014 4:36am
Quoting KiwiOz
{quote} G'Day mate. You only need to look at the weekly chart to see the future. Personally, the sooner bitcoin finds the low the better. It will allow many more people to bet involved & buy in at a reasonable price. Including myself. After all. Once the bottom is in there will be only one way to go. UP. Sad to Gov'ts getting involved at the EXPENSE of altcoins. Greedy manipulating domoinating buggars. It's the old "keep 'em barefoot & pregnant syndrome" Hopefully protocol will be put in place to allow Joe Blows like me to one day bypass the bastards...
Lots of buyers hanging around that price (mid low 500s) too so lets see if they hold steady.
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Incidentally, this week is the 35th since the last peak, so I guess the 33 week cycle is out now... An Aug/Sept rally is still on the cards imho.
  • #4,288
  • Jul 28, 2014 7:10am Jul 28, 2014 7:10am
Did you hear about CRT? It's a new currency that is now being launched on various exchanges. It's called CryptographicCoin
"The Market is Not Evil, it Simply Separates Dumb People From Their Money."
  • #4,289
  • Jul 28, 2014 8:49am Jul 28, 2014 8:49am
When will emptymind be back here ?
  • #4,290
  • Jul 28, 2014 9:09am Jul 28, 2014 9:09am
Quoting tostaky06
When will emptymind be back here ?
He's around
cryptocurrency everytime
  • #4,291
  • Jul 29, 2014 3:58pm Jul 29, 2014 3:58pm
even china prints ...

Go go go go go !!!!


(https://www.bbvaresearch.com/en/publ...ng-problems-2/)
Quote
The PBoC‘s decision to inject RMB 1 trillion to boost the economy could aggravate debt overhang problems
  • #4,292
  • Jul 30, 2014 7:24am Jul 30, 2014 7:24am
Bitcoin is about to hit strong support at around 550. There may be a bounce to around 590.
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Money Makes Money
  • #4,293
  • Jul 30, 2014 10:23am Jul 30, 2014 10:23am
Quoting KiwiOz
Bitcoin is about to hit strong support at around 550. There may be a bounce to around 590. {image}
KO, thanks for this - I was wondering what your take on the decline was.

To me it looks like the previous low was the end of the decline, with today's low an irregular B-wave making a lower low. Anyhow, whatever the count, the wave up is quite strong isn't it? I'm wondering if this is not going up from here...
cryptocurrency everytime
  • #4,294
  • Jul 30, 2014 7:52pm Jul 30, 2014 7:52pm
Quoting venzen
{quote} KO, thanks for this - I was wondering what your take on the decline was. To me it looks like the previous low was the end of the decline, with today's low an irregular B-wave making a lower low. Anyhow, whatever the count, the wave up is quite strong isn't it? I'm wondering if this is not going up from here...
Hi venzen. Love your enthusiasm mate but I'm afraid there are no good news stories to be found on my charts for any of the cryptocurrencies. To me it would appear the price actions of the past were just pump n dumps by manipulation.
500 will be the major support on the weekly chart. Below 500 & it's under 300 for bitcoin. To my mind I cannot see why any new currency would be valued above the current Fiats. just doesn't make sense. Unless the world goes mad. "Possible" I can see parity. Maybe then Bitcoin can compete & perhaps become the currency of the world. Can't wait for that to happen. You can bet the Governments of the world will do every thing they can to stop that scenario.
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Money Makes Money
  • #4,295
  • Jul 31, 2014 4:11am Jul 31, 2014 4:11am
People choose what they think best for them, the government can not always select all .

What can the government do to prevent bittorent ?

World need more and more decentralization to get back their freedom, and that's we are going to see to the next few years ... Argentina took the risk of restructured its debt to safeguard his liberty, new world is coming and the final obstacle will be central banks ...

Later people will have much esteem for this period it was worth the Inquisition or slavery.
EVERY disaster create a new age ...
People need to be free toprogress, free to think, free to dispose, free to be (gay ...), free to undertake ...
This is how the world works and it evolves ...

Your parity is nothing ...
  • #4,296
  • Jul 31, 2014 5:35am Jul 31, 2014 5:35am
Quoting KiwiOz
{quote} Hi venzen. Love your enthusiasm mate but I'm afraid there are no good news stories to be found on my charts for any of the cryptocurrencies. To me it would appear the price actions of the past were just pump n dumps by manipulation. 500 will be the major support on the weekly chart. Below 500 & it's under 300 for bitcoin. To my mind I cannot see why any new currency would be valued above the current Fiats. just doesn't make sense. Unless the world goes mad. "Possible" I can see parity. Maybe then Bitcoin can compete & perhaps become the...
KO, you're seeing some major downside here, and I can't say you're wrong, but there seems to be upside left in the stochastics (top) on this Bitstamp hourly... they always go to 100 before resuming down again.... not sure if it'll climb out of the expanding channel though... this downside is persistent - it seems to be the biggest players (Funds) with 100s of thousands of Bitcoins to throw at this market are pushing it down - but where will they decide it's enough? 500? really? There's not enough indicator left on weekly/daily and H4...

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cryptocurrency everytime
  • #4,297
  • Jul 31, 2014 5:45am Jul 31, 2014 5:45am
Quoting tostaky06
People choose what they think best for them, the government can not always select all . What can the government do to prevent bittorent ? World need more and more decentralization to get back their freedom, and that's we are going to see to the next few years ... Argentina took the risk of restructured its debt to safeguard his liberty, new world is coming and the final obstacle will be central banks ... Later people will have much esteem for this period it was worth the Inquisition or slavery. EVERY disaster create a new age ... People need to...
tostaky, I agree with your thoughts about Freedom and progress, but consider what KiwiOz is saying from a currency point of view - he may have a rationale - why don't you ask him how and why.

Look at Ecuador now - creating their own cryptocurrency, controlled by the central bank, to phase out the Dollar as official currency at the same time and banning the Wall Street Bitcoin from their borders and airwaves (as they put it).

This Bitcoin is not necessarily The One and Only. We need to remain open to change and further progress. Who knows what developments are on the horizon?
cryptocurrency everytime
  • #4,298
  • Jul 31, 2014 6:07am Jul 31, 2014 6:07am
Quoting venzen
{quote} KO, you're seeing some major downside here, and I can't say you're wrong, but there seems to be upside left in the stochastics (top) on this Bitstamp hourly... they always go to 100 before resuming down again.... not sure if it'll climb out of the expanding channel though... this downside is persistent - it seems to be the biggest players (Funds) with 100s of thousands of Bitcoins to throw at this market are pushing it down - but where will they decide it's enough? 500? really? There's not enough indicator left on weekly/daily...
I think you may have hit the nail on the head. Like Gold n Silver, A few big players are manipulating the markets to suit their own ends. Sell high buy low. Keep this going until they can buy up big again at a low low price. Like a drawn out pump n dump. If only we could get decent leverage it would make for great trading. Cheers.
Money Makes Money
  • #4,299
  • Edited 9:22am Jul 31, 2014 6:10am | Edited 9:22am
Quoting KiwiOz
{quote} I think you may have hit the nail on the head. Like Gold n Silver, A few big players are manipulating the markets to suit their own ends. Sell high buy low. Keep this going until they can buy up big again at a low low price. Like a drawn out pump n dump. If only we could get decent leverage it would make for great trading. Cheers.
Once they are done with this 'easy' manipulation (too many players pushing it around) then brokers will offer Lev lol

Looks like they may have started already...
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  • #4,300
  • Jul 31, 2014 7:36pm Jul 31, 2014 7:36pm
Quoting gjgjg
{quote} Once they are done with this 'easy' manipulation (too many players pushing it around) then brokers will offer Lev lol Looks like they may have started already... {image}
this could be the bottom- but it could also be a correction setting up the next wave's channel down, so let's wait for price to get above 590 and then attempt 610.

KO has a massive decline projected, and his magnetic trendlines are rarely wrong...
cryptocurrency everytime
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