Morecoin analysis [bitcoin/USD market observations] - page 2.

Morecoin Freeman

hero member

Activity: 854

Merit: 503

Legendary trader

daily:

The daily picture paints a continuation of the uptrend with the SMA acting as support.
It is important to break and stay above ~$680, more on that in a bit.

weekly:

Originally this thread was titled 'Bottom is in at $215 buying like crazy.' This was when I noticed the, at that time, double bottom in April 2015. From above picture it is clear that, shortly after the bottom was confirmed for the third and final time, bitcoin has been in an incredible bull market ever since. With recent support holding and the MACD suggesting positive momentum, it seems like said bull market is here to stay. Start trading below our SMA and things will be negative.

Jan. '13 - Nov. '16:

Now this looks like a cup and handle breakout pattern to me. Not only was ~$680 resistance just a couple of months ago but also in 2014, after it had acted as a level of support in 2013. Also, this price level coincides with the lip of our cup. So a new break above this resistance is very relevant.

(BITCOIN PRICE INDEX $657.02)

Morecoin Freeman

hero member

Activity: 854

Merit: 503

Legendary trader

Quote from: Morecoin Freeman on April 21, 2016, 11:57:21 AM

This is it; the significant advance. The current positive state of the market shares key similarities with the price rise from May 2012 ($5) till April 2013 ($260!), with the first block reward halving in between which took place on November 28, 2012. Note that on a weekly time frame we are in the second longest lasting uptrend in the history of bitcoin. Right now bitcoin is a very legitimate investment.

(BITCOIN PRICE INDEX $444.43)

Quote from: masterluc on June 14, 2016, 10:09:51 AM

Hello. Some fractals and extrapolation. Good bye.

I see that masterluc agrees. Cool

The past three weeks have been amazing with the bitcoin price reaching $700.

(BITCOIN PRICE INDEX $668.45)

yefi

legendary

Activity: 2842

Merit: 1511

Quote from: Morecoin Freeman on May 30, 2016, 06:05:06 AM

There are certain feelings that we don't have the ability to express in one clear, concise word.

If you could, it would be a thu'um though Cheesy

Decoded

legendary

Activity: 1232

Merit: 1030

give me your cryptos

Quote from: Morecoin Freeman on May 30, 2016, 06:05:06 AM

There are certain feelings that we don't have the ability to express in one clear, concise word.

(BITCOIN PRICE INDEX $540.86)

MOON.

Morecoin Freeman

hero member

Activity: 854

Merit: 503

Legendary trader

There are certain feelings that we don't have the ability to express in one clear, concise word.

(BITCOIN PRICE INDEX $540.86)

MatTheCat

hero member

Activity: 840

Merit: 1000

Quote from: LFC_Bitcoin on April 24, 2016, 04:28:46 PM

Looks like you're getting things right Morecoin, nice to read some bullish observations that bear fruition rather than all the bearish crap that's been around for too long.

Yep..got to hand it too him....he don't always get it right, but ~80% accuracy aint too shabby.

Would be nice if he posted his TA, but then I guess that would be giving the game away.

LFC_Bitcoin

legendary

Activity: 3556

Merit: 9709

#1 VIP Crypto Casino

Looks like you're getting things right Morecoin, nice to read some bullish observations that bear fruition rather than all the bearish crap that's been around for too long.

Morecoin Freeman

hero member

Activity: 854

Merit: 503

Legendary trader

Quote from: MatTheCat on April 21, 2016, 07:39:15 PM

Hey Morecoin, doesn't the distinct utter lack of Volume on this rise concern you? I know this is Stamp, and Stamp aint leading no more, but Finex (and other exchanges where the volume isn't 0% fee fakery) shows the same sort of pattern. Entirely possible that every little burst up was short squeeze driven? I myself have contributed to a couple of the pumps by covering shorts, as no doubt have many other traders. Does this pump run out of steam when there aren't enough shorters left to squeeze?

I'm not concerned about the trading volume. Maybe you overcomplicate your trading.
The volume is picking up and I expect new highs in price to come every other day.

(BITCOIN PRICE INDEX $460.92)

MatTheCat

hero member

Activity: 840

Merit: 1000

Quote from: Morecoin Freeman on April 21, 2016, 11:57:21 AM

This is it; the significant advance. The current positive state of the market shares key similarities with the price rise from May 2012 ($5) till April 2013 ($260!), with the first block reward halving in between which took place on November 28, 2012. Note that on a weekly time frame we are in the second longest lasting uptrend in the history of bitcoin. Right now bitcoin is a very legitimate investment.

(BITCOIN PRICE INDEX $444.43)

Hey Morecoin, doesn't the distinct utter lack of Volume on this rise concern you? I know this is Stamp, and Stamp aint leading no more, but Finex (and other exchanges where the volume isn't 0% fee fakery) shows the same sort of pattern. Entirely possible that every little burst up was short squeeze driven? I myself have contributed to a couple of the pumps by covering shorts, as no doubt have many other traders. Does this pump run out of steam when there aren't enough shorters left to squeeze?

Morecoin Freeman

hero member

Activity: 854

Merit: 503

Legendary trader

This is it; the significant advance. The current positive state of the market shares key similarities with the price rise from May 2012 ($5) till April 2013 ($260!), with the first block reward halving in between which took place on November 28, 2012. Note that on a weekly time frame we are in the second longest lasting uptrend in the history of bitcoin. Right now bitcoin is a very legitimate investment.

(BITCOIN PRICE INDEX $444.43)

bitcoin carpenter

legendary

Activity: 1582

Merit: 1001

Interesting months ahead for btc. Halving, interesting fiat turmoil as the yuan makes its first move to decouple from usd and becoming a new peg for gold price. Saudis liquidating usd in fear of new economic securitie measures..

And the charts are looking primed😃😃.

Guess we will see soon.

MatTheCat

hero member

Activity: 840

Merit: 1000

oda.krell

legendary

Activity: 1470

Merit: 1007

I don't have much time to follow the news or price at the moment (also: low volatility), but if there's one place I like to stop by once in a while, it's this thread.

Thanks for your insights, Morecoin, MatTheCat, RyNinDaCleM, (apologies to whoever I'm forgetting here)

Morecoin Freeman

hero member

Activity: 854

Merit: 503

Legendary trader

Breaking the sideways trend. This new high in price above the horizontal channel is a technical buy signal:

(BITCOIN PRICE INDEX $432.35)

MatTheCat

hero member

Activity: 840

Merit: 1000

Quote from: Morecoin Freeman on March 16, 2016, 05:03:51 PM

Notice the Bollinger Bands contract toward the moving average because of low volatility:

Periods of low volatility are often followed by periods of high volatility. Everyone get ready for a significant advance...

(BITCOIN PRICE INDEX $416.00)

Got to respectfully disagree with this.

Huge weight pressing down on Bitcoin at the moment in my view.

Bull Momentum is getting increasingly weaker. Market is now likely to get a taste of some Bear Mom:

On the 4hr chart, the only valid argument in town, is the bearish argument in my view:

And again on 1hr chart. With that said, I could easily see a little run up into Liquidity Zone (pink box) to clear out some weak short positions before the tanking commences:

Morecoin Freeman

hero member

Activity: 854

Merit: 503

Legendary trader

Notice the Bollinger Bands contract toward the moving average because of low volatility:

Periods of low volatility are often followed by periods of high volatility. Everyone get ready for a significant advance...

(BITCOIN PRICE INDEX $416.00)

MatTheCat

hero member

Activity: 840

Merit: 1000

Since Bitcoin is controlled by the Chinese, here is another inverse correlation to look out for:

Chinese stocks topped in April 2015, during which time Bitcoin was trundling along in the doledrums, right at break even point for even the big Chinese miners, in the low $200s. Recently, Bitcoin has clearly been finding a 'top', whereas Chinese equities have been finding a bottom, and the most recent inverse correlations between Bitcoin and Chinese stocks have been lining up footprints within the space of a dime. Seems to me that Chinese equities are looking to take back some of that huge lost ground between now and late Spring, which means BTC would lose some of the massive ground gained, between now and late Spring, if this inverse relationship continues.

And here is Etheruem:

I find it much harder to establish an intellectual link between players in ETH and BTC, as I do with players in the Chinese economy and BTC, especially so since those bidding up ETH, are already in BTC, which they use to buy ETH with. With that said, since Dec 2015, the inverse correlation between ETH and BTC, is indeed striking, and seems much more pronounced and 'obvious' than the correlation between BTC and Chinese Equities.

8up

hero member

Activity: 618

Merit: 500

my conclusion of the last weeks: world financial crisis >> bitcoin blocksize crisis

^^ this is good for bitcoin & co.

Morecoin Freeman

hero member

Activity: 854

Merit: 503

Legendary trader

Strong buy signal with the MACD turning positive again and the RSI almost crossing above 50:

(BITCOIN PRICE INDEX $415.46)

MatTheCat

hero member

Activity: 840

Merit: 1000

Quote from: RyNinDaCleM on March 09, 2016, 06:21:43 PM

If Morecoin would like me to delete this for the OT nature, just let me know and I will.

Why should he want to delete it?

Quality little piece of fundamental observation in a thread which has become a little island of quality in a forum section full of quite frankly, utter fucking horseshite.

Would be interesting to make a comparison chart between ETH and BTC, just to see how strong the inverse correlation is. Perhaps looking for strong market reversal structures in ETH would be a good sign for impending break out in BTC? To be honest though, I aint seeing any strong reversal signs in ETH just yet. Of course, it is by now so far overcooked that I couldn't possibly consider being a buyer, but I certainly don't see any compelling reason to be a seller there either, yet.

Topic: Morecoin analysis [bitcoin/USD market observations] - page 2. (Read 47517 times)