Bitcoin technical analysis

Ok we will see, maybe this up it s just collateral effect of DowJones/Cac40 correction ...
It's a little bit amazing that Peter Schiff predicted that gold could surge this week, and it could be BTC :

http://www.cnbc.com/id/101876995#.

Show may start soon, lot of people on holidays, such a nice timing ...

Sorros must be happy with that

590 broke by $5, fingers crossed for $600...
Edit: and were over $600... damn should have bought in more at 560...

In other news, an interesting new currency launched in last day or so, they are giving 5k away per person who creates a wallet and links their FB account:
https://launch.stellar.org/#/login

this coin is very interesting compared to all the others started this year, I'd recommend getting your free coins now and holding They have a lot of potential considering the team behind it:
https://www.stellar.org/about/

it will be nice if BTC can win the war.....

This would have made the price spike in 2013: Osborne using a BTC ATM
http://www.coindesk.com/george-osbor...plore-bitcoin/

bit tired of stagnation at this point, would like to see some vol one way or the other!

Maybe too much people are on holidays ...

Cloakcoin may be done an a-b-c correction here or soon... this coin has big plans

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Really? Today's range is around $15usd. In currency terms that's thousands of pips.

imo, I'm relishing in the fact that BTC has begun to stabilize.

it could have been interesting if Europe had not saved Espirito Santo

Reminds me of spring/summer last year, adr of 5-15$... stability is good for commerce but bad for traders. i suspect quite a few day traders are getting frustrated hence the large buy and sell 'walls' that quickly form each day in this range. i think it could still easily go to 650e+ again if the day traders would just sit back a little and let it drift for a while! Seems pretty short sighted and impatient - just my feeling on it lol. also this could be a huge step for btc:http://www.coindesk.com/changetip-br...outube-tumblr/

Correct, the youtube acceptance, on what ever levels it settles into, are helpful.

Meanwhile (please correct me if I'm missing something new) the perceived lack of volatility in BTC is due to little or no leverage being available. Of course the absence of bigger bank traders, who are either under indictment or in jail, has had volatility repercussions in all markets also.

Another great article venzen. Nice to read an analysis that does not portray unsubstantiated “to the moon” rhetoric.
$525 is a very realistic target at present. However with all cryptocurrencies in decline, I think bitcoin holders are in for a lot more pain before cryptocurrencies become the accepted “Norm”
Note how the volume has dropped in line with the price
http://www.cryptocoinsnews.com/news/...#comment-27006

Hi again KO,

Looking at your magnetic TL targets all the way down to the 300s I must say I wish it wasn't this way... However, there is no reason why not.

Somehow the buy-and-hold dream of a spectacular rally keeps being delayed. Why should Bitcoin rally every year? Its been doing that every year, so to skip one year can be expected.

My thoughts dwell on the largest players... those institutions and funds that hold 100s of thousands of bitcoins and are the true market movers - what are they up to now? Presumably they can't leverage their trades (i assume) so they need to massage the market into rally mode for their buy-low-sell-high strategy to be profitable.

As @gjgjg points out, there are cynical ask orders being placed by the thousands all through the $600s every time price just even looks north, so equally, the institutional whales must be getting fed up and concluding that: "If they don't want to go up, let's take them down". I cannot substantiate this kind of argument, but somehow I feel this is what's going on in the BTC market.

Bitcoin is designed to be a currency, but it also happens to be a speculator's wildest dream come true: No large bank involvement, naive fans, no effective government decree, no regulation and it is pinned to no asset in the real world. Given this kind of elbow room, any institution with even a few million in liquid assets, should be looking to Bitcoin to make their fortunes. It would also benefit them to collude, since there is much money to be made in orchestrated rallies and declines.

Ironically, the Bitcoin waters are therefore more treacherous for "retailers" than the bank market makers' forex pool - because at least the banks and brokers are regulated and limited by massive liquidity which competes for dominance in currencies, e.g. large institutional players and central banks. Bitcoin has none of that and can be chased in any direction, to any distance, at the drop of a hat.

This is something I only recently started researching, and as I say, I speak under correction.

Its very difficult to day trade Bitcoin - despite the large daily moves - the intraday moves are difficult to predict. A longer term trade strategy is more sensible, but one has to take into consideration what the whales have in mind. And I don't mean "whales" as in the guys who slap down 1000 BTC in arrogant and ill-conceived limit orders in the exchange orderbooks. I mean large funds who trade off-record, outside of the retail-facing orderbook. There are about 7 of them - between them holding enough bitcoins to theoretically destroy the market in one go or send it to $100,000 if they want. But they can't because of limited liquidity in the exchanges. That's why they need to entice as many retailers and "buy-and-hold" investors as possible into a planned move. They can't do it every year and they can't do it if retailers harbor a negative or fearful attitude toward the market and take profit in the 600s - everytime - like that's big money.

Because many banks (and states) may still be failures with saving the of people
and because we can not print the economic recovery ... and because of wars ...

I think the rallies of 2013 & 2014 were "manufactured" Pump n dumps by the likes of whatsisname from MT Gox & the likes. We may never see the same again.

I also think that the charts could be manipulated by Mt.Gox, I do not think it will prevent him from again the highest.
If the charts was manipulated, maybe your analysis is flawed ...
Anyway, it's Friday, it's almost the weekend of August 15th lot of banks will be closed, and I think the court will leave soon enough to rise Tuesday ...
Wait and see

Ditto on another great article! I also hope* youre wrong and to wake up one day soon to hear that the people of LatAm or India or even Africa decided to jump on the band wagon causing a new buy wave killing off this slow torturous decline. i suspect another large territory is the only thing to trigger another rally upwards. Even if many buyers are lurking below current price, i think it will take a new school of whales to get things going again. im sure it will happen... when is the 10,000pbtc question!

*hoping, praying and wishing being a strong sign of a bad trade lol

PS did anyone see the nasty LTC drop again today? ouch

Yeah mate. The writing is on the wall.
I'm pretty well convinced this whole cryptocurrency thing was all a huge pump n dump by some nasty bastards who have left a lot of innocent people high n dry.

Crypto currency selloff as we speak. Litecoin down 10% today (!)

I still have confidence in the long term picture in terms of the tech being widely adopted... whether thats in the form of current BTC network and whether it will affect the price in the way many expect is what Im up in the air about. Anyway, Im sure my grandkids will be using the / a blockchain in many ways in their everyday life in ways we dont expect.

Price hit e525 just now...

Poor LTC... seems the old favorites of FTC and LTC etc are getting trampled on by the heard of good BTC news...
http://www.coindesk.com/rakuten-us-subsidiary-bitcoin/