Videoblog & Technical Analysis for Bitcoin

[Lucano]

Good Morning Bitcoiners,

A lot of people are saying that the two day hearing about bitcoin at the US senate has go something to do with the weak price right now.

It's all about speculation but, as far as my technical knowledge the over extended  trend was looking for a pause to generate more memory towards higher prices in the short term.
Seller in control of the price right now and the ones suffering now are the ones that are trapped from $600 up to $900.98 and that's worst than the sell off last April.

We have a daily chart showing a powerful correction in yesterdays market and it's trying to visit the next available support $395.00.

This correction can probably find support right now with the SMA 200 in the 60 minutes chart but, in case that sell off keeps happening the only major support available right now is located at $413.00 and after that $395.00 could be the end of the correction.

240 minutes chart is showing a deep down trend towards major supports and it seems like the bottom tale of the next couple of candles (means 8 hours of market) can generate some counter trends for small time frames such as 15/5 minutes chart.

The 60 minutes chart with 3 lower highs and a four one visiting the SMA 200 manage to penetrate and create a new set of patterns that is helping to slow down the hype from previous sessions.

Last but no least, the new strategy for today's market is simple.

Use the small time frames 15/5 minutes charts to take advantage of possible counter trends and go for one or two targets tops and if the market wakes up after this bloody punch we might see a powerful up trend if the price decide to say "this support is where I'm staying"

Keep you eyes open.

Here, the pre market analysis

http://youtu.be/-aHGDjZcJac

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[Its About Sharing]

Very nice call on the move back up to $600. Hopefully we don't go back down to 400 now.

[Lucano]

Very nice call on the move back up to $600. Hopefully we don't go back down to 400 now.

It's just what the candles are saying at the moment.
Thanks for the heads up.
P.S: I was expecting one of you excellent comments about our currency.

[Its About Sharing]

Very nice call on the move back up to $600. Hopefully we don't go back down to 400 now.

It's just what the candles are saying at the moment.
Thanks for the heads up.
P.S: I was expecting one of you excellent comments about our currency.

eheheh, Thanks Lucano. I might be the inspirational BTC speaker but you are the master of the Candles 

But here, how about an esoteric BTC comment? Just for fun. 

BTC's rising sign is Leo. Leo is ruled by the Sun. So that means, when the sun goes through Aries (and other fire signs), things might get explosive. Early this year, BTC's rise coincided with the suns move through Aries (March/April). Well, in less than two days, the sun is moving through Sagittarius (fire sign) - symbolizes EXPANSION amongst other things. This is happening in the 5th house - Leo's house. So, maybe the fun is just starting. 

Its about sharing (my crazy ideas)

[Lucano]

Very nice call on the move back up to $600. Hopefully we don't go back down to 400 now.

It's just what the candles are saying at the moment.
Thanks for the heads up.
P.S: I was expecting one of you excellent comments about our currency.

eheheh, Thanks Lucano. I might be the inspirational BTC speaker but you are the master of the Candles 

But here, how about an esoteric BTC comment? Just for fun. 

BTC's rising sign is Leo. Leo is ruled by the Sun. So that means, when the sun goes through Aries (and other fire signs), things might get explosive. Early this year, BTC's rise coincided with the suns move through Aries (March/April). Well, in less than two days, the sun is moving through Sagittarius (fire sign) - symbolizes EXPANSION amongst other things. This is happening in the 5th house - Leo's house. So, maybe the fun is just starting. 

Its about sharing (my crazy ideas)

No crazy at all.
I'm an Aries and a dog in the Mayan calendar. I studied the Mayan calendar in Costa Rica, I lived there for 10 years.
P.S: I should keep an eye during the next 36 hours.
  BTCBTC

[Lucano]

Good Morning Bitcoiners,

Seller's are losing control over the price and the previous bullish momentum seems to me that it's coming back again.
Let's don't forget that we still have a weekly chart showing us a bearish signal and the new hype may be will stay with us for a short period of time.

The price can reach $748.00 today based on the patterns we see in all the time frames and according to the new set of candles in 240 minutes and 60 minutes chart.

The daily chart is showing a possible new higher low and if this higher low develope it's movement, that will be the pattern that it can visit the major resistance $900.98

Having said that, the 240 minutes chart is doing something a bit more different than the daily and this particular discrepancy can delay the up trend a bit longer. The 240 minutes chart is showing an over extended up trend that so far it manage to denial more than 80% of the previos retracement. In some way this is good but if we think about it the movement can try to build a new higher low and fail.
So, if that happen the price can reach once again the SMA 200 or in the worse case scenario it could reach $453.00.

The 60 minutes chart is showing 3 higher lows already build and the price is fighting with the bottom tales of a minor resistance area ($748.00)

The strategy today could be once again using the small time frames to reach one or maximum two targets to take advantage of a potential new uncertainty in the market today.


Here, the Pre Market Analysis.

http://youtu.be/9C1hmEBFq3Y

[Its About Sharing]

That pattern on the daily (actually you said 12hr) chart Lucano is very interesting. I'm surprised I haven't heard it mentioned before (or noticed it myself). After you mention it, it is so obvious.

Basically, you are saying that the long wicks on the bottom are showing a push towards the ema's but that BTC is bouncing back up, wanting to resume the uptrend.
That is then followed by a higher lower. Which has (so far) been verified today.

Good eyes  
IAS

[Lucano]

That pattern on the daily (actually you said 12hr) chart Lucano is very interesting. I'm surprised I haven't heard it mentioned before (or noticed it myself). After you mention it, it is so obvious.

Basically, you are saying that the long wicks on the bottom are showing a push towards the ema's but that BTC is bouncing back up, wanting to resume the uptrend.
That is then followed by a higher lower. Which has (so far) been verified today.

Good eyes  
IAS

I am creating a file of new patterns, because the currency is bringing a new generation of traders, means new set of graphics.
This is wonderful because we are adding new patterns to the ABC of candle sticks readings.

I should come with a name for that pattern, something like "Geekttern or G Pattern" LOL...

We are in a crazy world full of sane minds !!!

P.S: thanks for the heads up !!

[Lucano]

Good Morning Bitcoiners,

Last night the price create a down trend that manage to deny one of the higher low in 60 minutes.
Buyer will try to push the price back up again and it could be that the buyers will bring the price towards $784.00.

The 15 minutes chart is showing us a lower high failure an a powerful push from the buyers towards the second lower high from the top down.

60 minutes chart is showing a previous retracement towards a major support (higher low) and it was a reaction from the buyers that it's pushing the price back up as we speak and it seems like the next target could be the resistance which is located at $784.44. (The daily highs from yesterday's market)

240 minutes chart is building it's new higher low and if this pattern get active it can push the price up toward the new major resistance $900.98.

The daily chart has a higher low already and it's penetrating the bodies of the candles on the left. after the bodies, the tales will be less difficult to absorb.

This is an auction between buyers and sellers and who ever takes control over the price can created the domino effect that every one else follows.

Here, the pre market analysis.

http://youtu.be/TENVlNIyCEU

[YoYa]

Lucano, your use of the 12hr yesterday pointed me to the resistance you mentioned today....quite cool

[Its About Sharing]

I wanted to bring up the call Lucano made about that "new pattern" that is seldom seen. It did indeed breakout from the pattern.
BTC ran following the close of the 3rd candle (the first time the pattern showed) from around $338 to a high of $902 ish.
The last low of the 3 candle setup ended at around $501. Just to have some fun with simple math, and jumping over resistance levels etc  , I come up with the following:
$902/$338=2.67
$501X2.67=$1337 - our next target high. Just having fun of course.

edit - I noticed the negative volume divergence during this recent rise. Normally this would be worrisome, but ever since Gox's withdrawal patterns, it has become less so (any indicators relating to volume actually). Anyway, something to watch.

[Lucano]

Lucano, your use of the 12hr yesterday pointed me to the resistance you mentioned today....quite cool

http://imgur.com/Sm6q37V

[Lucano]

Lucano, your use of the 12hr yesterday pointed me to the resistance you mentioned today....quite cool

Here is the pattern.
It's just like IAS is saying, we haven't seen this pattern before in major time frames.

P.S: Nice to see that I'm not the only one exited about this pattern.  BTCBTC

http://imgur.com/Sm6q37V

[Lucano]

Good Morning Bitcoiners,

The price still consolidating near major resistance and it might push it self to create new historical highs this week.
Such situation can generate a high volatility and eventually the correction will come along based on what the weekly chart shows (over extended trend and far from the SMA's).

The daily chart is showing a new higher low trying to push the price up and this could be good for the traders and market makers in general towards closing the positions of the month and sell at the highest price.

12 hours chart is aligned with the daily chart and it's forming a second higher low. This pattern can bring the price up to $900.98, create a double top tale and eventually a new set of candles will show up in 240/60 minutes chart.

Every body wants to push the price towards the $1k but no every one wants to buy at $1k.

As soon as the price reaches the $900.98 will be important to see how much the market can hold the price that high or may be the sellers will take control and push the price towards lower levels which will help the currency to generate market memory and more powerful data to bring positive trust to the traders and less uncertainty to the public in general.

Here, the weekly analysis.

http://youtu.be/3qPXjjmwpmM

[Lucano]

Good Morning Bitcoiners,

New higher low in the daily chart is pushing the price towards $900.98.

The 240 minutes chart shows a triple bottom tale and a new higher low and at the same time the 60 minutes chart is pushing it self up and with a powerful long range candle stick it manage to deny the entire consolidation and set new highs.

Seems like those all those signals are showing how much the buyers wants the price to reach once again the historical highs so their trading plan for the month will be done in a positive way.

Having said that, I believe that reaching $900.98 will create high volatility and will give space to the sellers to take control of the market and a week of potential correction will show up.

The weekly chart needs a break and hopefully will take advantage of it.

Here is the pre market.

http://youtu.be/GOiiFwjNbR4

[Lucano]

Good Morning Bitcoiners,

The new historical highs are allowing the price to maintain it self around $950.00 regardless of how over extended the price looks in major time frames such as weekly and monthly.
Buyers are in full control of the price.

A potential correction can show up at any time and it will take the price towards it's first available support which is located at the $900.98 area.

The daily chart is showing a long range candle stick from yesterday's market and it's probably telling us that the big rally is coming to an end.

12 hour chart is showing a second higher low with an extended trend of candles sticks but it's not over extended on the movement and this can be another situation to considered as part of the analysis for a potential correction.

The 240 minutes chart has the same story as the 12 hours times frame. The 4 hours chart is over extended and it's trying to build a consolidation. Having the two time frames with such synchrony makes me think twice.

In the event that the price decides to create it's correction, we have to see higher low's in 60/15 minutes chart failing before we take new analysis into consideration.

We have no reference to give a forecast about when or where the price is gonna stop generating new highs but the options are always in front of us.

Here is the pre market.

http://youtu.be/pWXTAncJLNU

[Lucano]

Good Morning Bitcoiners,

The possible correction in yesterday's market didn't happended thanks to the powerful buyers and their full control over the price instead, we saw a small correction last night that it only help the price to create new higher low's and still producing historical highs and the over extended trend is showing that a potential correction can occur at any time.

The daily chart is showing that the previous long range candle stick that we thought was the one sending of a possible end of the trend was no more than just another candle stick that it was pushing the price towards historical new highs.

240 minutes chart is showing once again how the SMA 10 can be use as a main support for the patterns. It's impressive how the price and the buyers respect this moving average without any hesitation.

60/15 minutes charts are the ones showing more volatility in terms of price fluctuation and with powerful SMA's looking like rails there is not sings that the price wants a correction.

If you are thinking in going in and trade during this over extended trend make sure that you are taking precautions because the price is reaching unknown areas and eventually the good bullish trend will stop to give the opportunity to the sellers to take part of the action.

Here is the pre market.

http://youtu.be/zCEQglt5rjg

[maz]

Subscribed, thanks for the free analysis Lucano, it's most appreciated!

[Lucano]

Subscribed, thanks for the free analysis Lucano, it's most appreciated!

your welcome. Thank you for following

[Lucano]

Good Morning Bitcoiners,

Last night the price and the sellers try to push a sell off to create a domino effect but, instead they manage to create a side ways trend that it's making the price fluctuate between top and bottom tales with a margin of $250.00. This could be interesting because it will give opportunity to the small time frames such as 15/5 minutes chart to give some patterns and generate more opportunities.

The daily chart is showing yesterdays candle stick with  some uncertainty and with an over extended trend trying to penetrate the historical new highs which is exactly what is doing as we speak.

The 240 minutes is more specific in this case and the new higher low it's trying to push the price up but the low volume is no showing sings of increasing at the moment and this can be a situation where a potential consolidation can happen instead of a new movement up towards new highs.

The 60 minutes chart is fighting hard and it's trying to recover it self from the previous volatility and it manage to build a new higher low that at the moment is trying to bring the price back to the major resistance which is $1242.00.

Having a particular side ways market it will only give chance to micro trading which I think is a great opportunity as long as you keep an eye on the patterns and you keep pushing your stop up after break even.

Here is the pre market.

http://youtu.be/J5368Xppa60