Thread: Bitcoin technical analysis

Originally Posted by ;

I'm interested about the liquidity in this market and why anybody would ever trade it if there are liquid options on the market (like national currencies) I can not imagine there is even a billion in daily exchange over Though isn't the basic premise behind bitcoin is that it should value over time because the coins become harder and harder to mine? I'm sure the best approach to exchange bitcoin is just to have a look at the USDx. Still. . Not seeing the purpose Good luck with it though! It could be a market daily.

Hi R2R and welcome,

You raise a Fantastic point. The liquidity is tiny as well as the market is immature but that has its own advantages:

1) sudden predictability in the PA standpoint in addition to textbook adherence to classic indior adjustment signals
2) the main trade Mt Gox charges a commission on buys (but maybe not on sells) and that is all it costs to participate - you will find no account fees, the access for their feed and its API is free of charge and there are no intermediaries: buy and sell BTC and convert into fiat currencies as you wish. Transactions are instantaneous whenever you wish and you can transfer your holdings all into your desktop.
3) volatility (for its nimble and quick)

It's not really a traditional trade tool - that the buy commission and lack of short selling makes intraday trade unprofitable, instead I see it like a longterm buy-and-hold wealth shop On shirts I convert Bitcoins into USD and at bottoms buy BTC again and again possibly add.

Longterm that the Bitcoin should love strongly (if there is demand) or fade away into the dustbin of history. But I believe that the arguments in favor of appreciation are more powerful than those in favor of disuse and worth a couple of hundred dollars speculation.

BTW - to my eyes it doesn't link to the USD index and charts more like a stock - look at the online startup bubble around April!

Very dangerous situation. It'll be something in case 13000 wont maintain. Crooks from wallstreet will push prices on futures to ~5000, and in spring, then goldman and others will build their own appliions to exchange BTC, they will load up full. And little men will sufferm as always.

Originally Posted by ;

quote Noticed the bullish divergence. I'm waiting for price to breakout over 13.3k~13.9k range.

It's preferable to buy on ...

statistical excesses
(return to the mean)

upon confirmation of a breakline (m30)

P.S.
(entrance into Fibonacci ...
... pullback: entrance, sl, TP)

Only added my brief position. This will touch the lower trend line in a matter of time.

Originally Posted by ;

Thinking of waves means ... thinking of a (trading)plan (entry, sl=be, TP) If it is preferable to enter on divergences (break of trendlines) or ... on statistical excesses ... P.S. (on market confirmation ...) in h4 there is a break of ma200 a blue arrow no divergence out of 60 bars

I do not know if there is a correlation between Dax and Bitcoin ...

If so ... That the Dax ... I think we're in the next leg of corrective wave 4 (b5)

P.S.
Awaiting the b5 : 1 2 3co 4 5 = (a propulsive wave) and Also ...
the C waves: a(c) b(c) c(c)

An AbC correction:
a(a) b(a) c(a) b1 b2 b3co b4 b5 a(c) b(c) c(c)

Inside 4th wave (Composed 3 rd wave's: 123 45 bull market)

Originally Posted by ;

quote I do not know if There's a correlation between Dax and Bitcoin ... If so ... That the Dax ... I Believe we are in the second leg of corrective wave 4(b5) P.S. Awaiting the b5 : 1 2 3co 4 5 = (a propulsive wave) and ... the C waves: a(c) b(c) c(c) An AbC correction: a(a) b(a) c(a) b1 b2 b3co b4 b5 a(c) b(c) c(c) Interior 4th wave (Composed 3rd wave's: 12345 bull market)

If so ... (if the analysis is Right)

a little 'down,
then double Greatest and ...


P.S.
... then it takes the lows = AbC correction
... at the days to follow

I think we continue upward from here! Korea FUD will blow over by tomorrow!

Originally Posted by ;

After dividing down to 12.5k, I'm in again on the long run. Not too sure if the week's smallest was printed, I was actually expected it to split 12k down to 11. xk. In case the week's smallest already printed, we might observe a bull fee to maybe 17k as what our Elliot genius, Mag00 is waiting? @Mag00

Closed longs @ 13.6k. Gont wait and see what happens. I'm kinda expecting it to go above 14k

Edit: anybody noticed the hidden bullish divergence on Daily chart?

Https://www.tradingview.com/x/Vjza24xe/

https://www.tradingview.com/x/nRDAoGA5/

https://www.tradingview.com/x/Vjza24xe/ Station still in place

Ok, quite expierenced trader only told me be careful with shorts, now large boys are accumulating long positions. They couldnt get in at 17000, therefore tehy reduced price to shoot BTC from startled crowd. So he said to shoot longs below 13500.