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Bitpesa Thread - Bitcoin Market Analysis by Mic Kimani
Rank: Member Joined: 12/30/2012 Posts: 545 Location: NBI
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mic_mic wrote:Ash Ock wrote:mic_mic wrote:My current bias, its a correction, and there is more room to go higher. Have you by any chance been following the MMM Bitcoin ponzi (http://mmmglobal.org/) and the speculation that it might, in part, be responsible for the current surge? It's gained a lot of interest, even upcountry here in .ke. What I suspect is when it crashes, as all ponzi tend to do, it'll leave a bad taste for Bitcoins across the country. I'm playing my part in warning people to be aware and stay away from MMM. These are the kind of people who tarnish bitcoin and confuse the masses.
Bitcoin is not bad, it is people who are bad WIkipedia
MMM Ponzi Scheme Companyhttps://en.wikipedia.org...Ponzi_scheme_company%29
BITCOIN TRADERS KENYA Whatsapp group +254 705 299 429
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Rank: Member Joined: 12/30/2012 Posts: 545 Location: NBI
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Bitcoin Is Suddenly Surging AgainAnd there are various theories behind the rise. BLOOMBERG BUSINESS Very good read! http://www.bloomberg.com...s-suddenly-surging-againBITCOIN TRADERS KENYA Whatsapp group +254 705 299 429
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Rank: Member Joined: 7/3/2014 Posts: 245
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Sending Bitcoin to a Kenyan mobile money account using the telegram messengerIn the world of securities, courage and patience become the supreme virtues after adequate knowledge and a tested judgment are at hand.
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Rank: Member Joined: 12/30/2012 Posts: 545 Location: NBI
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mic_mic wrote:mic_mic wrote:mic_mic wrote:T My current bias, its a correction, and there is more room to go higher. Yesterday night was exciting. Market went up to $ 380 BITCOIN TRADERS KENYA Whatsapp group +254 705 299 429
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Rank: Member Joined: 12/30/2012 Posts: 545 Location: NBI
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Bitcoin to be 6th largest reserve currency by 2030: ResearchBitcoin to be 6th largest reserve currency by 2030: Research http://www.cnbc.com/2015...cy-by-2030-research.htmlBITCOIN TRADERS KENYA Whatsapp group +254 705 299 429
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Rank: Member Joined: 12/30/2012 Posts: 545 Location: NBI
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Escape log trend - log here is only relevant. BITCOIN TRADERS KENYA Whatsapp group +254 705 299 429
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Rank: Member Joined: 12/30/2012 Posts: 545 Location: NBI
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Ultra bullish case BITCOIN TRADERS KENYA Whatsapp group +254 705 299 429
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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I don't like the current parabolic. The recovery and rally to new highs has been rushed. Standing aside until things cool down. $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Member Joined: 12/30/2012 Posts: 545 Location: NBI
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mic_mic wrote:mic_mic wrote:mic_mic wrote:mic_mic wrote:T My current bias, its a correction, and there is more room to go higher. Yesterday night was exciting. Market went up to $ 380 $ 504 touched today BITCOIN TRADERS KENYA Whatsapp group +254 705 299 429
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Rank: New-farer Joined: 5/20/2010 Posts: 69
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mic_mic wrote:mic_mic wrote:mic_mic wrote:mic_mic wrote:mic_mic wrote:T My current bias, its a correction, and there is more room to go higher. Yesterday night was exciting. Market went up to $ 380 $ 504 touched today I ve been following this rally and it looks like its gonna peak 1000 or perhaps 1500, the reason being is bitcoin XT, january 2016 is coming up and we still havent reached consensus on whether we will use 8MB blocks or stick to the present 1MB blocks. The news that @Hisah shared regarding bitcoin is TAX free only encocurges capital flows into bitcoin, with the block size still at 1 MB this late, I think people will need to pay high transaction fees for their order to be processed. I see the price plummeting in Jan 2016 unless we get on to bitcoinXT, lets see what happens :) bitcoinXT status
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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mic_mic wrote:$ 504 touched today Wow! That looks that a potential buying climax and with a sizable volume to boot! Sharp reversal ahead. Retrace likely to retest the breakout zone at 300 level, if no support then the price may leak towards 200 - 250 level. This is why I said I'm standing aside for parabolic moves are never sustainable.$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Veteran Joined: 4/16/2014 Posts: 1,420 Location: Bohemian Grove
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hisah wrote:mic_mic wrote:$ 504 touched today Wow! That looks that a potential buying climax and with a sizable volume to boot! Sharp reversal ahead. Retrace likely to retest the breakout zone at 300 level, if no support then the price may leak towards 200 - 250 level. This is why I said I'm standing aside for parabolic moves are never sustainable. heading towards sub 400
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Rank: Member Joined: 12/30/2012 Posts: 545 Location: NBI
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whiteowl wrote:hisah wrote:mic_mic wrote:$ 504 touched today Wow! That looks that a potential buying climax and with a sizable volume to boot! Sharp reversal ahead. Retrace likely to retest the breakout zone at 300 level, if no support then the price may leak towards 200 - 250 level. This is why I said I'm standing aside for parabolic moves are never sustainable. heading towards sub 400 BITCOIN TRADERS KENYA Whatsapp group +254 705 299 429
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Rank: Member Joined: 12/30/2012 Posts: 545 Location: NBI
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whiteowl wrote:hisah wrote:mic_mic wrote:$ 504 touched today Wow! That looks that a potential buying climax and with a sizable volume to boot! Sharp reversal ahead. Retrace likely to retest the breakout zone at 300 level, if no support then the price may leak towards 200 - 250 level. This is why I said I'm standing aside for parabolic moves are never sustainable. heading towards sub 400 BITCOIN TRADERS KENYA Whatsapp group +254 705 299 429
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Rank: Elder Joined: 10/11/2006 Posts: 2,304
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hisah wrote:I don't like the current parabolic. The recovery and rally to new highs has been rushed. Standing aside until things cool down. @hisah You also trade bitcoin? Using what platform provider? Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
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Rank: Elder Joined: 10/11/2006 Posts: 2,304
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The chart shows the outlook I have for bitcoin. I still maintain that a move below $150 is necessary to complete the correction which started at the >$1000 high. The recent move that bitcoin made to $500 must have fooled alot of people. As shown in this chart it was a (B) wave. Elliott Wave Principle describes B waves as phonies. Text: "B waves are phonies. They are sucker plays, bull traps, speculators' paradise, orgies of odd-lotter mentality or expressions of dumb institutional complacency (or both).....If the analyst can easily say to himself, "There is something wrong with this market", chances are it's a B wave. " . This is precisely what happened. People got trapped into thinking we have a new bull market in bitcoin, price rose to above $500 only to fall back below $400 in a matter of hours. This is a perfect lession in Elliott waves. We know that 5-wave moves determine the direction of the market. Therefore for us to proclaim that the bull market in bitcoin has resumed, we MUST get a five wave move upwards since a low. Looking at the chart in the low area marked (A) at about $150 and the move up to $500 it is clearly corrective (and thus the reason I have marked it W X Y). Bitcoin is going to provide a nice opportunity to go long soon. In fact if you look at the blue horizontal line displaying $85.14 and then you look to the left of the chart, you will notice two converging trendlines. That is a triangle and is the area of the previous 4th wave when bitcoin was rising to above $1000. I expect bitcoin to bottom at about $85 dollars and that will be your opportunity to buy aggressively. Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
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Rank: Veteran Joined: 4/16/2014 Posts: 1,420 Location: Bohemian Grove
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mnandii wrote:The chart shows the outlook I have for bitcoin. I still maintain that a move below $150 is necessary to complete the correction which started at the >$1000 high. The recent move that bitcoin made to $500 must have fooled alot of people. As shown in this chart it was a (B) wave. Elliott Wave Principle describes B waves as phonies. Text: "B waves are phonies. They are sucker plays, bull traps, speculators' paradise, orgies of odd-lotter mentality or expressions of dumb institutional complacency (or both).....If the analyst can easily say to himself, "There is something wrong with this market", chances are it's a B wave. " . This is precisely what happened. People got trapped into thinking we have a new bull market in bitcoin, price rose to above $500 only to fall back below $400 in a matter of hours. This is a perfect lession in Elliott waves. We know that 5-wave moves determine the direction of the market. Therefore for us to proclaim that the bull market in bitcoin has resumed, we MUST get a five wave move upwards since a low. Looking at the chart in the low area marked (A) at about $150 and the move up to $500 it is clearly corrective (and thus the reason I have marked it W X Y). Bitcoin is going to provide a nice opportunity to go long soon. In fact if you look at the blue horizontal line displaying $85.14 and then you look to the left of the chart, you will notice two converging trendlines. That is a triangle and is the area of the previous 4th wave when bitcoin was rising to above $1000. I expect bitcoin to bottom at about $85 dollars and that will be your opportunity to buy aggressively. Thanks for the analysis @mnandii I'm keenly following this as we head into 2016
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Rank: Elder Joined: 10/11/2006 Posts: 2,304
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Bitcoin: A drop to $349.69 then a strong rise to about $450 likely in the short term. Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
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Rank: Elder Joined: 10/11/2006 Posts: 2,304
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whiteowl wrote:mnandii wrote:The chart shows the outlook I have for bitcoin. I still maintain that a move below $150 is necessary to complete the correction which started at the >$1000 high. The recent move that bitcoin made to $500 must have fooled alot of people. As shown in this chart it was a (B) wave. Elliott Wave Principle describes B waves as phonies. Text: "B waves are phonies. They are sucker plays, bull traps, speculators' paradise, orgies of odd-lotter mentality or expressions of dumb institutional complacency (or both).....If the analyst can easily say to himself, "There is something wrong with this market", chances are it's a B wave. " . This is precisely what happened. People got trapped into thinking we have a new bull market in bitcoin, price rose to above $500 only to fall back below $400 in a matter of hours. This is a perfect lession in Elliott waves. We know that 5-wave moves determine the direction of the market. Therefore for us to proclaim that the bull market in bitcoin has resumed, we MUST get a five wave move upwards since a low. Looking at the chart in the low area marked (A) at about $150 and the move up to $500 it is clearly corrective (and thus the reason I have marked it W X Y). Bitcoin is going to provide a nice opportunity to go long soon. In fact if you look at the blue horizontal line displaying $85.14 and then you look to the left of the chart, you will notice two converging trendlines. That is a triangle and is the area of the previous 4th wave when bitcoin was rising to above $1000. I expect bitcoin to bottom at about $85 dollars and that will be your opportunity to buy aggressively. Thanks for the analysis @mnandii I'm keenly following this as we head into 2016 You are welcome. Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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mnandii wrote:hisah wrote:I don't like the current parabolic. The recovery and rally to new highs has been rushed. Standing aside until things cool down. @hisah You also trade bitcoin? Using what platform provider? I'm still scouting for a platform. Looking to start next year.$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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