Silk Road forums
Discussion => Newbie discussion => Topic started by: djkiwi on May 27, 2013, 07:47 pm
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Hello my SR friends,
There would be interested in regular technical analysis for BitCoin?? On the forum I have not found it. I think that the necessary information for sellers and buyers.
I would always updated at the moment of fundamental change rate (eg 1-2x per week).
It would look something like this: https://imageshack.us/photo/my-images/829/btc1.png/ (I think I improved over time :)
I do not know whether it would be good to use an anonymous service for images. Or upload directly to the forum?
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Yesterday was the expected test trend lines. Now BTC slightly off and expect to test the upper trend line. Target around 145 USD / BTC
http://imageshack.us/photo/my-images/6/btc2.png/
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I am sorry, I might have too much flouride in my brain, but I do not quite understand what you are saying??
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Currency BTC acts as Euros or $. They can be expected future movements BTC currency.
Look at the WIKI: http://en.wikipedia.org/wiki/Technical_analysis
We can be smart when buying or selling ... 8)
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Ahhh, I see. Interesting, I would imagine this would be a little harder to do than a centrally based currency. Have you tried to technically analyze the bc market??
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It's harder :) BTC Missing fundamental basis ... It is a new currency ...
Anyway, we must try to understand how the unregulated currency behaves.
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bitcoin is unstable
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Have you done any research on the huge drop of bitcoins not too long ago from 250 some USD's to under 100 in a day? It happened because some mother fucker decided to give away 13 grand worht of Bitcoins to reddit users. And that was just a test, they completely wiped about a billion dollars worth in BC that day by just injecting about 13 grand, I honestly cant wait for their big hit, as I know SR will keep bitcoins circulating and the system will not crash, but I will surely be cashing in at pennies on the coin =p
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Good info
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Each new currency is unstable at the beginning. Great price losses (eg $ 250> $ 50) cause that is beginning to work in technical analysis. In some places, the fall stop ... in some places the growth stops ... It is important for further development: Creating the areas of support and resistance. The big players in the market (as MTGOX) traded most in the points of support and resistance. Because of this, at these locations the largest volumes.
My opinion on the price collapse (250> $ 50)
There were several factors. The first factor was advertising media across the world (thanks to the crisis in Cyprus). Lots of new buyers drove the price up ridiculously (classic definition of bubbles, look at the wiki Economic bubble). I think that was the plan. The second factor was a DDOS attack on the BTC Bank and SR. This caused a mass sale. I think that contractors on SR Outs help. These things happen in the financial world and are very important for the future stabilization (what does not kill us makes us stronger).
Yesterday, the price rebounded from the bottom trend line and is now moving up slightly (from $ 125). I suppose that now we get to the price of $ 145 (there will be some more sale) ... We'll know more after a few days ... Now we have strong support at $ 125 and $ 100 (I recommend shopping here).
Best of luck!
PS: Sorry for my English. Not so good: (
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Cool Cool, I am saying some organization with a "dark agenda" towards bitcoin did the free coin injection as a mere test, as I am sure they have more than 13 grand to use to try and destroy the bitcoin, It is probably some big international bank, but when they try and do the same thing on a larger scale, I will hold my faith in bitcoin and try and make money off the huge plummet.
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I would definitely be interested, and I'm sure I'm not alone. (I'm sure there are others who consider BTC speculation a waste of time and distraction, and I respect that: drugs are way more fun than algorithms. Still, if there were a forum for BTC traders on SR? I'd be all over it, and I'm sure other vendors would be as well. Great idea and a great offer.
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Thank you. Much would help if they were to publish pictures right here. Greatly speed up our work. Do you know someone why do not upload pictures?
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update:
Over the weekend were some great sales and price broke the rising trend at $ 125 / BTC. Price dropped to $ 115 / BTC. Now, at the time of writing, the price is around $ 120 / BTC. From a technical point of view we are heading towards strong support zone around 80-100 $ / BTC. Here I expect more buying interest.
http://img6.imageshack.us/img6/3236/btc3.png
A detailed look at the chart we can see forming a downward trend. The following days will show how strong the support zones around $ 100 / BTC.
https://imageshack.us/a/img11/9679/btc4.png
In the case of rebound from zone 80-100 $ / BTC can say SIDEWAYS TREND. This could indicate a further stabilization of BTC market.
Good luck!
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im def buyin 1000 bucks worth when it slows goin down =p