Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 33302.

dexX7

legendary

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Quote

Statement Regarding Technocash Transfers
TOKYO - JAPAN - June 4th, 2013

After some deliberation and discussion with Technocash, an Australian service for Mt. Gox customer account funding and withdrawals, it has been decided that our customers in Australia will no longer be able to deposit and withdraw funds in AUD using Technocash starting June 15th, 2013.

We are working on alternatives for our Australian customers, but in the meantime please use other available methods such as international wire transfers, which are available in your customer accounts. Withdrawals via Technocash will be processed as long as we possibly can, and we will make our best effort to keep this method available. We apologize for any inconvenience this may cause, and look forward to evolving with the vibrant Australian market.

Regards
Mt.Gox Co. Ltd Team.

https://www.mtgox.com/press_release_20130604.html?Currency=AUD

notme

legendary

Activity: 1904

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Quote from: adamstgBit on June 04, 2013, 09:30:56 AM

Quote

eBay Invoice Notification for Friday, May 31, 2013

Amount Due: C$16.46

wtf is this eBay Invoice Notification? i didn't buy no eBay Invoice Notification Huh

this is why i prefer bitcoin.....

It is a phishing attempt. Bitcoin services have also been impersonated like this.

adamstgBit

legendary

Activity: 1904

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Trusted Bitcoiner

Quote

eBay Invoice Notification for Friday, May 31, 2013

Amount Due: C$16.46

wtf is this eBay Invoice Notification? i didn't buy no eBay Invoice Notification Huh

this is why i prefer bitcoin.....

ElectricMucus

legendary

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Marketing manager - GO MP

Quote from: Miz4r on June 04, 2013, 09:20:04 AM

Quote from: ElectricMucus on June 04, 2013, 09:14:02 AM

If you draw a trend-line from one wick to the next it is broken if another wick crosses it. That's just the way it is, sorry the trendlines are broken.
The best you can hope for is a "false breakout".

Well I often see shakeout candles falling way below the supporting trendline (but open and close is above support) and then bouncing up again. The oppposite is called a 'shooting star' I believe. So I don't care if you call it a breakout or not, I'm just not convinced the support line is invalidated.

Candlesticks work independently from trend lines. What you have to remember is that the beginning and end of a candlestick is somewhat arbitrary from a price perspective. Each candle stick represents the same duration during successive time periods while the wicks are the respective highs and lows.
You can draw a trend line from one wick to another (still it is not optimal since the time of the price extrema isn't entirely correct) but it kind of works. The candles themselves however only have meaning in relation to each other in the form of recognizable patterns which for which it is unrelated where they occur, just if they do.

Right now they indicate a sideways trend, not a reversal.

IG0BR0KE

newbie

Activity: 56

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Quote from: prof7bit on June 04, 2013, 09:15:13 AM

Quote from: IG0BR0KE on June 04, 2013, 09:03:09 AM

i think you should go back to economic school

Welcome on my ignore list for such an extraordinarily idiotic reply.

yes I know it is frustrating to be wrong

Miz4r

legendary

Activity: 1246

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Quote from: ElectricMucus on June 04, 2013, 09:14:02 AM

If you draw a trend-line from one wick to the next it is broken if another wick crosses it. That's just the way it is, sorry the trendlines are broken.
The best you can hope for is a "false breakout".

Well I often see shakeout candles falling way below the supporting trendline (but open and close is above support) and then bouncing up again. The oppposite is called a 'shooting star' I believe. So I don't care if you call it a breakout or not, I'm just not convinced the support line is invalidated.

Its About Sharing

legendary

Activity: 1442

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Antifragile

Quote from: prof7bit on June 04, 2013, 09:15:13 AM

Quote from: IG0BR0KE on June 04, 2013, 09:03:09 AM

i think you should go back to economic school

Welcome on my ignore list for such an extraordinarily idiotic reply.

And the ironic thing is his handle. Cheesy

prof7bit

hero member

Activity: 938

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https://youengine.io/

Quote from: IG0BR0KE on June 04, 2013, 09:03:09 AM

i think you should go back to economic school

Welcome on my ignore list for such an extraordinarily idiotic reply.

ElectricMucus

legendary

Activity: 1666

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Marketing manager - GO MP

If you draw a trend-line from one wick to the next it is broken if another wick crosses it. That's just the way it is, sorry the trendlines are broken.
The best you can hope for is a "false breakout".

Its About Sharing

legendary

Activity: 1442

Merit: 1000

Antifragile

Quote from: Miz4r on June 04, 2013, 09:06:41 AM

Right, even with your line I still don't consider the support line invalidated. It doesn't look like a convincing break out (yet). Anyway, don't take this all too seriously I'm just having some fun in here. I don't believe these lines say all that much about the bigger picture. It can go up or down from here, that's all I can say about it for sure. Tongue

I'm glad you asked the initial question as it wasn't clear to me either.

TA is great, I use it all the time, but it does not follow rules like some are making it out to be. That might be more true in BTC as the programs are not fully in effect and even more so, BTC does not exactly fall under the typical stock, commodity, currency, etc. paradigm.

I think what TA does show in BTC is sentiment and habit, but I'm no expert. Just having some fun... Wink

Loozik

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Born to chew bubble gum and kick ass

Quote from: Miz4r on June 04, 2013, 07:50:19 AM

Let's see if the support line holds at around $117.

Might fall deeper. Looks a double top to me.

dexX7

legendary

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Well.. 1k buy wall, price jumps to 122 and ... 502 bad gateway -- Website currently unavailable. Bitstamp.

EuroTrash

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http://bitbet.us/bet/147/mtgox-out-of-business-by-end-of-year/

Miz4r

legendary

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Right, even with your line I still don't consider the support line invalidated. It doesn't look like a convincing break out (yet). Anyway, don't take this all too seriously I'm just having some fun in here. I don't believe these lines say all that much about the bigger picture. It can go up or down from here, that's all I can say about it for sure. Tongue

prof7bit

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https://youengine.io/

Quote from: lucas.sev on June 04, 2013, 09:01:45 AM

Why your first two lows touch the trendline but not the last one?

Because the last one breaks it.

IG0BR0KE

newbie

Activity: 56

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Quote from: prof7bit on June 04, 2013, 08:57:29 AM

Quote from: prof7bit on June 04, 2013, 08:49:13 AM

https://i.imgur.com/igLNNhT.png

And on the log chart its even more obvious:
https://i.imgur.com/9yhMUMP.png

the support isn't broken.. (yet^^) i think you should go back to economic school or if you didn't studied that you should check how support/resistance works...

ChartBuddy

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1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ

lucas.sev

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Quote from: prof7bit on June 04, 2013, 08:57:29 AM

And on the log chart its even more obvious:

Why your first two lows touch the trendline but not the last one? It seems to me that line should look more like this:

prof7bit

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https://youengine.io/

Quote from: prof7bit on June 04, 2013, 08:49:13 AM

And on the log chart its even more obvious:

prof7bit

hero member

Activity: 938

Merit: 500

https://youengine.io/

Quote from: Miz4r on June 04, 2013, 08:43:16 AM

Quote from: prof7bit on June 04, 2013, 08:35:18 AM

Quote from: Miz4r on June 04, 2013, 07:41:36 AM

I drew a nice line, not sure if anyone posted something similar yet in here.

Your line is wrong, its already broken. Next target: $50. And soon after that: $30.

Ah I see, you've completely convinced me with your compelling arguments.

YOU have drawn the line intentionally wrong (you just choose some arbitrary point on the left side instead of anchoring it at the low), so you know EXACTLY what I mean:

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