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Bitcoin technical analysis

  • #4,361
  • Sep 22, 2014 3:27pm Sep 22, 2014 3:27pm
Hello venzen,

I know this thread is for the Bitcoin technical analysis, but I used to read you illuminating EW analysis in the XAU/USD & XAG/USD thread, and that's why I came here to ask you a favor. I would like to see your view about gold from an EW perspective (for short term and longer term).

Thank you so much.
  • #4,362
  • Sep 22, 2014 3:38pm Sep 22, 2014 3:38pm
something is about to happen ?

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  • #4,363
  • Sep 23, 2014 3:18pm Sep 23, 2014 3:18pm
Quoting PrymeTyme
something is about to happen ? {image}

took a lil bit longer than i tought..

but there u go
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  • #4,364
  • Sep 23, 2014 5:18pm Sep 23, 2014 5:18pm
Quoting PrymeTyme
{quote} took a lil bit longer than i tought.. but there u go {image}
This'll do it:
http://www.coindesk.com/paypal-annou...bitcoin-space/
  • #4,365
  • Oct 5, 2014 5:26am Oct 5, 2014 5:26am
BTC@313$

Are you buying?
BTC FTW
  • #4,366
  • Oct 5, 2014 11:42am Oct 5, 2014 11:42am
Prophecy is expected to 205 ... (but I bought 460 and more FML )
  • #4,367
  • Oct 6, 2014 6:09am Oct 6, 2014 6:09am
That was a funny morning - I found Bitstamp sell order at about 25kBTC (7.5$ mil) at exactly $300 that took a few hours to clear and flat-lined the price while buyers chomped into it... once it cleared it broke up by 10~15% :o

Mad to watch these buyers just arrive in without limit orders showing on the order book to gobble up that huge buy wall... good sign imo

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I think we could easily see 205~250 yet but there does seem to be some proper buying coming in finally
  • #4,368
  • Edited 11:40pm Oct 6, 2014 11:12am | Edited 11:40pm
Hi All,

The following chart shows the decline near completion or completed already.

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A log-scale long-term chart of Bitstamp showing the 3-year role of that yellow S&R. If the channel lines hold then the upside makes the past 10 months of grueling downside a bearable ordeal.

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The Moving averages are in good alignment for an advance to $400 with a sell-off on the 8th (fullmoon). The wave action up is looking very much like Bitcoin "advance mode" and @gjgjg's post adds weight to the bullish case. Confirmation of a rally will come by price advancing to around $400 and then retracing 62% followed by a return above the 4-hour 200MA. Anything else implies that decline is probably incomplete and then $260 or $205 can be it's end (see support in the chart above).

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Gold hit it's own corrective triangle lower barrier this morning and should now go to the upper TL

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cryptocurrency everytime
  • #4,369
  • Oct 6, 2014 11:23am Oct 6, 2014 11:23am
Quoting venzen
Hi All, The following chart shows the decline near completion or completed already. {image} A log-scale long-term chart of Bitstamp showing the 3-year role of that yellow S&R. If the channel lines hold then the upside makes the past 10 months of grueling downside a bearable ordeal. {image} The Moving averages are in good alignment for an advance to $400 with a sell-off on the 8th (Harvest Moon). The wave action up is looking very much like Bitcoin "advance mode" and @gjgjg's post adds weight to the bullish case. Confirmation of a rally will come...
Thanks again for the charts Venzen

Is the Gold-BTC correlation established? I can see it to some degree myself, but I'd prefer if there was some stats done by someone more reliable!

Cheers
  • #4,370
  • Oct 6, 2014 11:29am Oct 6, 2014 11:29am
Buying bitcoin. Going to $1000 soon.
  • #4,371
  • Oct 6, 2014 12:55pm Oct 6, 2014 12:55pm
Quoting gjgjg
{quote} Thanks again for the charts Venzen Is the Gold-BTC correlation established? I can see it to some degree myself, but I'd prefer if there was some stats done by someone more reliable! Cheers
Hi gjgjg, you know, I can see a similarity in the wave structures - at different times I notice different things... I also sometimes superimpose the XAU price over BTC and then there is apparent 80% correlation during some periods and 100% negative correlation at other times!

I dunno - there's something there but it's not clear - probably because Bitcoin and Gold are at different degrees of trend: Bitcoin is young and still building up its wave degrees, Gold's been traded (or charted) for much longer, so it's degree is well advanced. That would explain why they go in and out of sync over time... There's something there for sure but I'm not sure what it is yet.

Oh, and thanks for saying I'm reliable! That's a complement to someone who's regularly late and doesn't put the cap back on the toothpaste
cryptocurrency everytime
  • #4,372
  • Oct 6, 2014 9:47pm Oct 6, 2014 9:47pm
Hello there!

I don't trade bitcoins, but I'm suscribed to this thread just out of curiosity.

Wanted to share these links.

http://techcrunch.com/2014/10/06/wat...8TechCrunch%29

http://techcrunch.com/2014/10/06/wha...ss&cps=gravity
  • #4,373
  • Oct 6, 2014 10:50pm Oct 6, 2014 10:50pm
Quoting jsr
Hello there! I don't trade bitcoins, but I'm suscribed to this thread just out of curiosity. Wanted to share these links. http://techcrunch.com/2014/10/06/wat...8TechCrunch%29 http://techcrunch.com/2014/10/06/wha...ss&cps=gravity
hi jsr, thanks for the links!
cryptocurrency everytime
  • #4,374
  • Oct 7, 2014 7:28am Oct 7, 2014 7:28am
Quoting venzen
{quote} Hi gjgjg, you know, I can see a similarity in the wave structures - at different times I notice different things... I also sometimes superimpose the XAU price over BTC and then there is apparent 80% correlation during some periods and 100% negative correlation at other times! I dunno - there's something there but it's not clear - probably because Bitcoin and Gold are at different degrees of trend: Bitcoin is young and still building up its wave degrees, Gold's been traded (or charted) for much longer, so it's degree is well advanced. That...
As long as youre reliable with the important stuff lol!

Cheers for the explanation. Shame there isnt a way of getting the history data for MT4 for whatever chart you want and it process them for you (super impose and spit out stats)... I wonder of the dev team take requests!
  • #4,375
  • Oct 11, 2014 10:55am Oct 11, 2014 10:55am
The Rise and Rise of Bitcoin HD

Magnet Link

magnet:?xt=urn:btih:9726736573492069ee27ee0c1d27127d94a92267&dn=The+Rise+and+Rise+of+Bitcoin+-+HD&tr=udp%3A%2F%2Ftracker.openbittorrent.com%3A80&tr=udp%3A%2F%2Ftracker.publicbt.com%3A80&tr=udp%3A%2F%2Ftracker.istole.it%3A6969&tr=udp%3A%2F%2Fopen.demonii.com%3A1337

or search for it on The Piratebay
BTC FTW
  • #4,376
  • Oct 12, 2014 1:38pm Oct 12, 2014 1:38pm
What broker/ exchange are you guys using for this? How easy is it to place orders and how liquid is the market?
  • #4,377
  • Oct 15, 2014 1:25pm Oct 15, 2014 1:25pm
Quoting big_pipin
What broker/ exchange are you guys using for this? How easy is it to place orders and how liquid is the market?

http://bitcoinity.org/markets/btce/USD
https://bitcoinwisdom.com/

but to start you will better off with this, me think, others in the thread may help more...

https://cex.io/promo/
The Chonchy
  • #4,378
  • Oct 15, 2014 1:26pm Oct 15, 2014 1:26pm
Quoting venzen
{quote} hi jsr, thanks for the links!
Hello venzen, nice to see you again, working hard for the money but I always remember this thread, good luck to all, they know who they are....
The Chonchy
  • #4,379
  • Oct 19, 2014 11:24pm Oct 19, 2014 11:24pm
Hello again to all, good luck in your trading.....
The Chonchy
  • #4,380
  • Oct 23, 2014 6:36am Oct 23, 2014 6:36am
And so wave 5 of 5 gets under-way.
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