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Title: And after this profitable sell-off... Post by: Wandererfromthenorth on August 16, 2014, 01:20:48 PM Hi guys, few days ago I told you to sell/open shorts at around $570-$550, because we were breaking important trend lines, and told you that we were going much lower,I gave targets for around $500-$470 and they were perfectly hit a lot sooner than expected.
https://bitcointalk.org/index.php?topic=737054.0 http://oi61.tinypic.com/s4qv7d.jpg Title: Re: And after this profitable sell-off, this is probably the bottom Post by: Newbie1022 on August 16, 2014, 01:23:37 PM Great advice. I am jazzed. But definitely be careful. Let's make money, team!!! Wooooooooooooohoooooo!!!!
Title: Re: And after this profitable sell-off, this is probably the bottom Post by: Schickeria on August 16, 2014, 01:35:35 PM It could form a gartley, but I doubt it. I bought few peanuts of coins, but one should not get overexcited. I think we'll see more down.
Title: Re: And after this profitable sell-off, this is probably the bottom Post by: Bitcoin_is_here_to_stay on August 16, 2014, 04:42:39 PM Some buying going on, a stronger bounce than the ones we had so far since the drop. Another possible indication that the bottom we saw is the definite bottom. The bounce is not very strong - although much better than the previous one. And still more than 20 millions USd in longs on 'Finex :(. I think we have at least one more leg down Title: Re: And after this profitable sell-off, this is probably the bottom Post by: fonzie on August 16, 2014, 04:44:50 PM Some buying going on, a stronger bounce than the ones we had so far since the drop. Another possible indication that the bottom we saw is the definite bottom. The bounce is not very strong - although much better than the previous one. And still more than 20 millions USd in longs on 'Finex :(. I think we have at least one more leg down Keep dreaming/shorting, pretty soon you´re going to have bad nightmares. Title: Re: And after this profitable sell-off, this is probably the bottom Post by: fusioncoins on August 16, 2014, 04:45:45 PM I think we need to wait at least 2 week to see a real change.
Title: Re: And after this profitable sell-off, this is probably the bottom Post by: Newar on August 16, 2014, 04:46:07 PM Many "mights" in there. Title: Re: And after this profitable sell-off, this is probably the bottom Post by: zedicus on August 16, 2014, 06:14:36 PM I am not so sure. The current sell off is not based on technical indicators nor is it based on news. It is most likely based on the fact that too much margin has been used so people are being forced to close out their long positions. Once margin levels go to lower levels then the selling pressure will likely slow and price increases can resume.
Title: Re: And after this profitable sell-off, this is probably the bottom Post by: giveBTCpls on August 16, 2014, 06:51:06 PM If this is mostly triggered because of the IPO Ethereum cashout we'll see a recover soon. After the MT Gox cashout fraud the recovery was rather quick.
Title: Re: And after this profitable sell-off, this is probably the bottom Post by: adamstgBit on August 16, 2014, 06:52:18 PM +1
Title: Re: And after this profitable sell-off, this is probably the bottom Post by: CoinDiver on August 16, 2014, 07:16:29 PM If this is mostly triggered because of the IPO Ethereum cashout we'll see a recover soon. After the MT Gox cashout fraud the recovery was rather quick. Is there enough volume to justify this explanation? Title: Re: And after this profitable sell-off, this is probably the bottom Post by: InwardContour on August 16, 2014, 07:51:14 PM If this is mostly triggered because of the IPO Ethereum cashout we'll see a recover soon. After the MT Gox cashout fraud the recovery was rather quick. Is there enough volume to justify this explanation? There are many sentences about Ethereum cashout in the forum, but no one has evidence of that, they just keep repeating it. Maybe is true, I don't really know, but can someone provide any evidence? Title: Re: And after this profitable sell-off, this is probably the bottom Post by: BTCfan1 on August 16, 2014, 07:55:36 PM If this is mostly triggered because of the IPO Ethereum cashout we'll see a recover soon. After the MT Gox cashout fraud the recovery was rather quick. Is there enough volume to justify this explanation? There are many sentences about Ethereum cashout in the forum, but no one has evidence of that, they just keep repeating it. Maybe is true, I don't really know, but can someone provide any evidence? yeah id like some concrete proof as well Title: Re: And after this profitable sell-off, this is probably the bottom Post by: DustyRah on August 16, 2014, 10:16:04 PM Traders are in this game now. And traders love waves so they can buy and sell often. Trades don't about going to the moon and instead get turned on by roller coaster rides.
Be careful and get yourself some good charts with indicators on it. Its a chop-chop world in BTC now. Title: Re: And after this profitable sell-off, this is probably the bottom Post by: bitrider on August 16, 2014, 10:20:09 PM Some buying going on, a stronger bounce than the ones we had so far since the drop. Another possible indication that the bottom we saw is the definite bottom. The bounce is not very strong - although much better than the previous one. And still more than 20 millions USd in longs on 'Finex :(. I think we have at least one more leg down Yup. I'd say at least one more...I'm enjoying watching the show. It is a lot easier to explain what is happening than most will admit. The big money is going to run this market up and down as long as they can, to shake all the loose coin from greedy pockets - before they let this rocket take off. Could be quite a while longer until all the casual money is out of the game, and only the fanatics remain. (kinda rhymes)....Then there will be no choice but to buy. ;) Title: Re: And after this profitable sell-off, this is probably the bottom Post by: kireinaha on August 16, 2014, 10:27:01 PM If this is mostly triggered because of the IPO Ethereum cashout we'll see a recover soon. After the MT Gox cashout fraud the recovery was rather quick. Is there enough volume to justify this explanation? There are many sentences about Ethereum cashout in the forum, but no one has evidence of that, they just keep repeating it. Maybe is true, I don't really know, but can someone provide any evidence? that's what this place has become. one person makes some ridiculous bold claim to justify why the price isn't moving in the direction they want, and then dozens more people blindly repeat it as if it's some unique and insightful information. but it's straight up bullshit every time. recent examples: this sell off is caused by the etherum cash out! this sell off is GABI manipulating the market to buy cheap coins! this sell off is caused by all the traders who want cash for their annual summer sabbaticals! (the dumbest one of all) if they just looked past this with an open mind and realized that the price is falling because there are more sellers than buyers, and long term holders are getting impatient, that would ruin the whole narrative that bitcoin is destined to take over the world. so they choose to make up bullshit instead. Title: Re: And after this profitable sell-off, this is probably the bottom Post by: counter on August 16, 2014, 11:54:01 PM Some buying going on, a stronger bounce than the ones we had so far since the drop. Another possible indication that the bottom we saw is the definite bottom. The bounce is not very strong - although much better than the previous one. And still more than 20 millions USd in longs on 'Finex :(. I think we have at least one more leg down Yup. I'd say at least one more...I'm enjoying watching the show. It is a lot easier to explain what is happening than most will admit. The big money is going to run this market up and down as long as they can, to shake all the loose coin from greedy pockets - before they let this rocket take off. Could be quite a while longer until all the casual money is out of the game, and only the fanatics remain. (kinda rhymes)....Then there will be no choice but to buy. ;) I have to admit it is always fun watching people fall for the good ole dump fake. I expect this type of thing to take place over a longer period of time and much like the way you described. Title: Re: And after this profitable sell-off, this is probably the bottom Post by: Newbie1022 on August 16, 2014, 11:59:32 PM If this is mostly triggered because of the IPO Ethereum cashout we'll see a recover soon. After the MT Gox cashout fraud the recovery was rather quick. Is there enough volume to justify this explanation? There are many sentences about Ethereum cashout in the forum, but no one has evidence of that, they just keep repeating it. Maybe is true, I don't really know, but can someone provide any evidence? that's what this place has become. one person makes some ridiculous bold claim to justify why the price isn't moving in the direction they want, and then dozens more people blindly repeat it as if it's some unique and insightful information. but it's straight up bullshit every time. recent examples: this sell off is caused by the etherum cash out! this sell off is GABI manipulating the market to buy cheap coins! this sell off is caused by all the traders who want cash for their annual summer sabbaticals! (the dumbest one of all) if they just looked past this with an open mind and realized that the price is falling because there are more sellers than buyers, and long term holders are getting impatient, that would ruin the whole narrative that bitcoin is destined to take over the world. so they choose to make up bullshit instead. I've been in agreement with you throughout the week and we definitely need to change our image (the Bitcoin community/exchanges/etc.) if we are going to get popular adoption (actual people) rather than just retailers on board. That said, price really ought to go up, now. Some people lost their leverage in margin calls, but a lot of it was just leverage being closed. Now that we have a steady bottom they'll releverage... and then leverage upon leverage. We'll be seeing 600s before 400s, again, I believe. That is a very short-term view, though. In the long-term, all of the talk about $10k+ is just somebody selling magic beans. Title: Re: And after this profitable sell-off, this is probably the bottom Post by: tooil on August 17, 2014, 11:30:01 AM If this is mostly triggered because of the IPO Ethereum cashout we'll see a recover soon. After the MT Gox cashout fraud the recovery was rather quick. Is there enough volume to justify this explanation? There are many sentences about Ethereum cashout in the forum, but no one has evidence of that, they just keep repeating it. Maybe is true, I don't really know, but can someone provide any evidence? The coin movement from their wallet is apparently enough for some people to believe that. Title: Re: And after this profitable sell-off, this is probably the bottom Post by: Buo on August 17, 2014, 11:36:55 AM If this is mostly triggered because of the IPO Ethereum cashout we'll see a recover soon. After the MT Gox cashout fraud the recovery was rather quick. Is there enough volume to justify this explanation? There are many sentences about Ethereum cashout in the forum, but no one has evidence of that, they just keep repeating it. Maybe is true, I don't really know, but can someone provide any evidence? The coin movement from their wallet is apparently enough for some people to believe that. If they haven't mixed the bitcoins through exchanges or mixing services, maybe someone can trace them. Title: Re: And after this profitable sell-off, this is probably the bottom Post by: madken7777 on August 17, 2014, 11:44:09 AM Strong resistance at 470 for the short term bottom price. Longer term, no one know for sure.
Title: Re: And after this profitable sell-off, this is probably the bottom Post by: zby on August 18, 2014, 06:18:27 AM Still sounds like the bottom. If we were supposed to go lower se would have gone there so far i think. Everything is possible as always, let's see. It looks like a bear flag or pennant. Title: Re: And after this profitable sell-off, this is probably the bottom Post by: RyNinDaCleM on August 18, 2014, 06:24:13 AM Still sounds like the bottom. If we were supposed to go lower se would have gone there so far i think. Everything is possible as always, let's see. It looks like a bear flag or pennant. seconded! Title: Re: And after this profitable sell-off, this is probably the bottom Post by: Wilhelm on August 18, 2014, 06:32:03 AM You only know where the bottom is when looking back.
The 200 EMA on the daily charts is positive which is good. But on all the other charts (4H,1H,30m,15m,etc.) it is still negative. I still believe we have some days of punishment ahead. Title: Re: And after this profitable sell-off, this is probably the bottom Post by: madken7777 on August 18, 2014, 10:51:02 AM Soon we will know if the bottom is real or if we are gonna go below, if we have another long leg down it's gonna get incredibly bearish .-. If it goes down, next bounce will probably be at $450 at bitstamp. The trend line I showed in the first post is actually there at Bitstamp, whereas it's higher on Bitfinex and Huobi. The price action on altcoin looks like there is a liquidity crisis. Bitcoin will certainly be affected to certain extend. Title: Re: And after this profitable sell-off, this might be the bottom Post by: CoinDiver on August 18, 2014, 03:35:39 PM UGH. This is hard. We need some great news. Individual retail adoption isn't the kind of news we need now. We need some sort of a mass adoption event. Paypal would work. Or some sort of a bitcoin debit card. Maybe a mass drive to get 1000 retailers signed up and accepting on a particular day?
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