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Title: It's ping-pong time again Post by: ineededausername on January 17, 2012, 08:02:29 PM Anyone remember the time when you could buy below $3 and sell above $3 and always make a profit?
It's back... except now it's buy at $6.25 and sell at $7.2. I wonder how long this will last... Title: Re: It's ping-pong time again Post by: Vandroiy on January 17, 2012, 08:08:52 PM If I may take a guess: you're late.
Had a look at the order book lately? If those sells were not from Bitcoinica, the instability has just gone from serious to critical. Title: Re: It's ping-pong time again Post by: thegato on January 17, 2012, 08:13:14 PM The Order book is being manipulated from yesterday.
Someone wants to buy cheap. Title: Re: It's ping-pong time again Post by: zby on January 17, 2012, 08:13:33 PM If I may take a guess: you're late. I've bought at 6.422 and slowly sold most between 6.5 and 6.6 causing it to dip even further. Unfortunately I did not catch it this time, maybe I'll try to push it lower again with the rest of my BTC. This ping pong could be profitable.Had a look at the order book lately? If those sells were not from Bitcoinica, the instability has just gone from serious to critical. Title: Re: It's ping-pong time again Post by: StewartJ on January 17, 2012, 08:20:53 PM Anyone remember the time when you could buy below $3 and sell above $3 and always make a profit? It's back... except now it's buy at $6.25 and sell at $7.2. I wonder how long this will last... Yep. Title: Re: It's ping-pong time again Post by: antoineph on January 17, 2012, 08:22:00 PM The Order book is being manipulated from yesterday. Someone wants to buy cheap. If that's the case then I am gaining from the giant spreads. Manipulation is Manipulable. Title: Re: It's ping-pong time again Post by: Vandroiy on January 17, 2012, 08:22:55 PM Anyone using the order book to make decisions on where the market is heading is insane. ;) Well, generally I'd agree, but not if the order book is so shallow that liquidations might already increase volatility a lot! It's easy to manipulate an order book to the upside, so the asks are pretty meaningless. But the bids being so few is not entirely meaningless. Price may spike much more heavily if someone panic sells 20k now. Title: Re: It's ping-pong time again Post by: thegato on January 17, 2012, 08:35:29 PM Anyone using the order book to make decisions on where the market is heading is insane. ;) Well, generally I'd agree, but not if the order book is so shallow that liquidations might already increase volatility a lot! It's easy to manipulate an order book to the upside, so the asks are pretty meaningless. But the bids being so few is not entirely meaningless. Price may spike much more heavily if someone panic sells 20k now. I agree, hopefully it will not happen. Title: Re: It's ping-pong time again Post by: old_engineer on January 17, 2012, 08:41:44 PM Just as everyone underestimated the actual strength of resistance, they are now underestimating the strength of price support. Experience should have educated you by now just how deceptive the order book is. +1 - forseeing $6-$7 range, and the We can quibble about the exact targets, but I'm with inau—ping pong... Title: Re: It's ping-pong time again Post by: StewartJ on January 17, 2012, 09:04:56 PM Just as everyone underestimated the actual strength of resistance, they are now underestimating the strength of price support. Experience should have educated you by now just how deceptive the order book is. We can quibble about the exact targets, but I'm with inau—ping pong... This is the trend we have been repeating for a while. Stability has come back, in the form of a $6-$7 trading range. Title: Re: It's ping-pong time again Post by: StewartJ on January 17, 2012, 09:09:08 PM Just as everyone underestimated the actual strength of resistance, they are now underestimating the strength of price support. Experience should have educated you by now just how deceptive the order book is. +1 - forseeing $6-$7 range, and the We can quibble about the exact targets, but I'm with inau—ping pong... Envious. Have been doing the same thing, but at 1/10th the BTCs. Still learning to make profit and minimize losses with 100 BTC play money, before I get to that higher level. :) Title: Re: It's ping-pong time again Post by: SlaveInDebt on January 17, 2012, 09:30:05 PM Swing down sweet chariot 8)
http://youtu.be/_OzITyx6RKY Title: Re: It's ping-pong time again Post by: old_engineer on January 17, 2012, 09:31:01 PM Just as everyone underestimated the actual strength of resistance, they are now underestimating the strength of price support. Experience should have educated you by now just how deceptive the order book is. +1 - forseeing $6-$7 range, and the We can quibble about the exact targets, but I'm with inau—ping pong... Envious. Have been doing the same thing, but at 1/10th the BTCs. Still learning to make profit and minimize losses with 100 BTC play money, before I get to that higher level. :) But of course, I'm peanuts compared to whomever is 100x my scale, and has sold >50k btc to $6.50 as well as added ~50k btc to the sell order book. They set the market, and I work within the market parameters they set. Title: Re: It's ping-pong time again Post by: ineededausername on January 17, 2012, 10:02:38 PM It's time to start buying :D
Title: Re: It's ping-pong time again Post by: proudhon on January 17, 2012, 10:05:45 PM It's time to start buying :D I'm going to hold out for a while. Title: Re: It's ping-pong time again Post by: StewartJ on January 17, 2012, 10:08:46 PM It's time to start buying :D OMG Yes Yes Yes!!! I mean correct, IMHO, it is indeed very good time to purchase BTC at this time. Title: Re: It's ping-pong time again Post by: Savior on January 17, 2012, 10:10:01 PM You can see the market is going down, question is when will it stop.
Title: Re: It's ping-pong time again Post by: ineededausername on January 17, 2012, 10:12:13 PM You can see the market is going down, question is when will it stop. Put all of your faith in the almighty Trendline ;) Title: Re: It's ping-pong time again Post by: arepo on January 17, 2012, 10:19:21 PM You can see the market is going down, question is when will it stop. Put all of your faith in the almighty Trendline ;) ...not yet. i call at least to $6.00 before it resumes the trend. it can break the trendline if it has enough momentum, as long as the very next movement is an upwards correction. Title: Re: It's ping-pong time again Post by: StewartJ on January 17, 2012, 10:25:35 PM You can see the market is going down, question is when will it stop. Hopefully for you, not before you bought in. We are going back up to $7 again. Not sure if we can break the $7.20 Resistance, she has been a tough nut to crack these last 3 weeks. Title: Re: It's ping-pong time again Post by: SkRRJyTC on January 17, 2012, 10:32:45 PM This doesnt look like ping pong
Title: Re: It's ping-pong time again Post by: StewartJ on January 17, 2012, 10:35:59 PM This doesnt look like ping pong Just the pong for now. Manipulators rule supreme. Title: Re: It's ping-pong time again Post by: sgbett on January 17, 2012, 11:30:47 PM PONGED when it should have PINGED!
Title: Re: It's ping-pong time again Post by: ineededausername on January 19, 2012, 06:27:03 PM wow, maybe $6-7 IS the trading range..
Title: Re: It's ping-pong time again Post by: arepo on January 20, 2012, 03:43:44 AM wow, maybe $6-7 IS the trading range.. i'll just leave this here ...markets swing from overbought to oversold. the 200% increase could easily have been a correction from the HISTORIC, UNPRECEDENTED downward momentum of the falling-knife (panic-selling-induced) crash. perhaps this is a sign that the correction is over and $6-$7 is a 'healthy' price range for bitcoin. always think longer term. |