Bitcoin-litecoin-all coins Thread

newbie23

Member
I would buy them on Mintpal or Cryptsy. Make sure you set up 2 way authentication on any exchange before you use it.

You will need to get BTC first if you do not have any and I would get those from Coinbase.com or from localbitcoins.com
 

newbie23

Member
Screen Shot 2014-08-17 at 12.04.06 PM.png

if you look at the MacD below the graph, if that blue line crosses and goes above the yellow line, we will go up very fast.
 

newbie23

Member
500 should be the bottom for BTC, it has hit 500 and bounced up about 5 times since it hit 1200.

I think the reason for the last dip was margin call traders got smacked :)

back when it was 125 bucks BTC would fluctuate 20-30 a day so these new fluctuations are a much smaller % than in the past. BTC has become much less volatile, which is actually to my dismay, volatility is what you need to make money.

I bet BTC will be back at 600 by the end on this up coming week. Over the last 12 months, anything under 500 is a good buy.
 

newbie23

Member
Someone got lucky and got some 300 dollar BTC on BTCE exchange, probably stolen coin or something.

Starting to see some larger purchases on Bitstamp, someone just bought 105 BTC.

This should turn around quick.
 

newbie23

Member
Sorry here is the chart you wanna use Bitcoinwisdom

https://bitcoinwisdom.com/markets/bitstamp/btcusd

There are different time frames that you can look at, long term charts never lie but you may miss the little swings in between. It just depends on how much your trading.

I like the 12hr for BTC right now due to volume. When the volume goes up you can play shorter time frames because the data will be more accurate.

The lines I was referring to was the MACD in the box under the graph. If you can't see it go to settings and click MACD.

This is kind of like momentum, think of a bouncing ball.

You could also use the stock RSI setting which is a good one.

I wrote some stuff on interpreting Japanese candle stick charts some about 6 months ago, it needs to be updated I have learned a ton since then. Fibonacci Retracement needs to be added to the write up, if anyone has something on it please share.

Interpreting Japanese Candlestick Charts


Japanese candlesticks have been used in Forex markets to get the jump on market trends much faster than traditional bar charts for many years now. The Japanese began using technical analysis to trade rice in the 17th century and later around 1900 Charles Dow began to refine this analysis although the main principals are still very similar.


Candlestick analysis can be used on all time frames and can signal critical turning points therefore lowering your exposure to bearish trends. This type of charting has been used by all types of traders including: day traders, swing traders and premium investors.


Some of the most significant characteristics of candle charting you want to look for are the size, color, body and the wick (shadow). These candle characteristics contain open, high, low, and close values for the session.















Size: a long bodied green candle could signal that a crypto currency has entered a bullish market. A long bodied red candle could indicate a bearish market.


Color: When the body of the candlestick is red this means the closing price of the session was lower than opening price. If the candle is green the closing price of that session was higher than the open.


Body: The body signifies the open and close of the session. Big-bodied candlesticks with no wicks indicate that either buying or selling, depending on the color, went in a single direction for that session. Green candles with big bodies indicate that the bears have taken the reins and are driving up the price of the coin and vice-versa when big body red candles are spotted.



Wick (shadow): The lines above and below the body are the wick and represent that sessions market extremes. The wick on top of the body is the high of that session and the wick on the bottom is the low for the session. This can indicate that the bears and bulls are at war or having a Mexican stand-off” so to speak. If the bulls were driving the market up high selling pressure could create a wick when they ran into resistance from the bears. If there is a long wick on the bottom this indicates that bears tried to drive the price down but ran into buy support.























Big VS Small Candles







· Big Green Candles – This represents very strong buying pressure indicating that the price rose significantly from the open showing the buyers aggressiveness. After significant declines a big green candlestick can indicate a turning point or support level. If buying persists this can indicate a panic buy in the market or excessive bullishness.


· Big Green Candles – These represent very strong buying pressure indicating that the price rose significantly from the open showing the buyers aggressiveness. After significant declines a big green candlestick can indicate a turning point or support level. If buying persists this can indicate a panic buy in the market or excessive bullishness.









Marubozo candles, which means “close-cropped” in Japanese





These are red or green candles with no wick. If the open and the close are the same as the session’s high or low this is a Marubozo candle. This basically means the trend was in one direction for the session. These are strong market indicators and are correct 56% of the time.


On a red Marubozo the sellers controlled the session from open to close. On green the buyers had the reins. In an uptrend a green Marubozo may indicate that momentum is increasing and the trend will continue. It may also represent the change of direction if found at the bottom of a downtrend. When you spot this candle in a downtrend it may point to continued high selling pressure, especially if found at the top of an uptrend.













Long and Short Wicks













Candle sticks that have long wicks on top indicate that the bulls were driving the market up when selling pressure became high and drove the price down towards the end of the session. If there is a long wick on the bottom this indicates that bears tried to drive the price down but ran into offsetting support.




Spinning Tops








Candlesticks with wicks on both sides and a small body indicate indecision in a crypto currencies value. The small body means both bulls and bears were active during the session even though the session closed near its opening price. After a long downtrend spinning tops may indicate weakness among the bears and signal a change. When spinning tops are found at the end of a downtrend this could signal weakness among bears and start a strong uptrend.







Doji Candle Stick characteristics







Candlesticks that open and close at virtually the same price are known as Doji candles. This indicates little or no movement in the crypto currencies value When a Doji candle is spotted on its own it is neutral but when found in a particular pattern a Doji can give strong market indications. The word “Doji” refers to both singular and plural form.



Long Legged Doji


This type of candlestick forms when a crytpo currencies value closes near its opening price despite a lot of movement in the market. The long legged Doji are considered one of the most significant market indicator’s in a strong uptrend or a strong downtrend. This can imply that the supply and demand may have consolidated a change in direction may be coming.


Dragonfly


This type of candle is formed when a crypto currency price open and closes at the high for the session. This indicates that tested to find out where the demand is and found it. Bears were able to push the prices down to where an area of support was found. This signals that the bearish advance downwards was totally rejected by the bulls and the trend may change quickly.




Gravestone Doji


This type of candlestick is formed when a crypto currencies value opens and closes at the low of the session despite lots of activity. The long wick on top represents that the bulls were met head on with lots of selling pressure, indicating a that an equilibrium may have been reach between supply and demand. When spotted after a strong uptrend this could signal a strong downtrend to follow.




4 Price Doji



This type of candlestick is formed when the crypto currencies prices high, low, open and close all at the same price. All 4 prices were the same for the entire session. This represents the ultimate in indecision and usually indicates a very quite market.
 

newbie23

Member
no problem! I get excited about BTC as you can tell.

If Naut goes up against BTC then your making double time :)

BTC is still pumping super hard, doesn't look like its slowing down yet, my Friday $600 prediction may just hit.

Its literally pumping so hard though it could go up for some time.
 

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