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There is no longer any starfish, come on people this is your chance to buy! How com everyone is not buying!!!!!
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If your margin balance is made from bitcoin then about 50%.
If your margin balance is made from dollars you should be good till about 25 cents. (4% maintenance)
I think.
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Thread needs more wahmbulance.
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But that would mean somebody would have to have the experience to know that would work, and to be able to present it as a solid trading strategy. To sound convincing they would also need some experience in the market in general so they wouldn't look like a novice. I don't think I've seen anything like that recently...  |
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It's only a question of who much leverage that support has. I'm sure its will be less leveraged than last time - people would't be stupid enough to over leverage again now would they Of course the counter argument, is that conviction that the price is rising is much higher this time round. We can't possibly dip again, not like last time. We are deep in the denial phase of the buy/sell cycle. Pessimism is next. |
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I know there are probably people leveraged short, but not so many there is an asterisk on the sell side!
People seem under the impression the price *should* be something. The price only ever *is* something.
The marketplace is full of buyers and sellers, positions, bids asks etc if this was represented as an equation, then the price would simply be the number to the right of the equals sign
You can't predict the price, there are too many variables. You may be able to predict how the equation is changing though, and if you have some information (such as longs cannot obtain any more leverage) then you can extrapolate what the likely effects on the equation might be. You can then see how the price might be affected.
The price might go up, I'm more concerned with limiting my downside, and right now the conditions necessary for a long squeeze are once again present. I won't be right all the time. But when I am I avoid big losses.
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The asterisk is gone from the buy on bitcoinica. This means we can resume normal activity and we can really go in any direction.
I spoke too soon it is back. It really seems like bitcoinica is helping to suppress the price at this point.
Bitcoinica can't suppress a price. Sufficient volume of people selling at a given ask is what prevents price rising. If people stopped selling then the price would go up. If the buying volume needs leverage to support it, then that doesn't sound like a sustainable price. I sold my speculative position yesterday at $6.15 and put a bunch of new bids in lower. Unlikely we'll get a carbon copy of last weeks antics, but you never know what might happen |
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Yeah hourly is useful, but I don't know as it is *more* useful (to me at least) i.e. regardless of what hourly says right now, I'm not planning on increasing position unless the daily predicates it. If the daily commands I buy though, I might then use the hourly to confirm an entry point.
In reality though its not as cut and dry as that because I'm biased towards long term accumulation, so in actual fact I have orders (of increasing dollar size) all the way down the order book. I'll then only scale out (and not fully) when things start looking overbought again - but purely with the intention of recycling those dollars into more BTC if/when it dips.
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You would do better for short-mid term trading by paying attention to hourly RSI. Do you want to simply wait for price to move one way or the other, or would you rather take advantage of the many profit opportunities that occur while others are waiting it out?
If you know the right answer to that question then you understand why Bitcoin exchange will continue to attract new money...
I'm not a day trader. Hourly is too quick (though it useful to time trade once daily is oversold and I want to catch a down spike). I'm looking for bigger moves over the course of several days/weeks that I can scale in and out of. This suits me better, or I end up trading emotionally. |
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Jan 25: 5.4
Feb 1: 4.8
(dips to 3.5 during feb)
Mar 1: 7+ again
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Much as minute by minute view of RSI is not much more than noise, weekly view of RSI or PVT is also noisy due to short timescale of entire lifetime of BTC and the rate of change in market place.
I think RSI and PVT work best at daily scale in this market. But I'm no day trader, just looking to accumulate a bigger long position at good prices, to hold indefinitely.
Just my 2 cents.
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No, it's mathematically impossible to prove him guilty. He'd thus be mad not to do it.
It's a good job Z is running it and not you then. Sure he's making money, I'm not sure why OP is so naive to this fact. He's in win-win situation, whatever the market does he gets his spreads. The longer it goes on the more money is involved the more he makes. Lets leave the libellous chit-chat in the playground. |
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It is a great time to shake out the weak hands if you're planning on taking everyones money though.
certainly starting to appear that way, if goxlive can be believed! |
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o Is it possible the person who tried to create a panic sell by forcing liquidation just realized it didn't induce a panic sell, and bought back quickly to not make a loss himself?
Or got liquidated by an even bigger fish shoving in long... |
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well thats an interesting development.
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and for everybody else who wants to say I told you so. I also clear consistent 10% turnovers on the stock market, using tech analysis you can be fairly confident about the mid-term and short-term trends for a stock and never has this happened to me. I was just messing with bitcoin speculation to give me something to do on weekends. Oh well.
I'm interested to know what technical indicators were telling you to buy? |
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I don't see why it would'nt go back up between $6 an $7
Because that price was being held up by all the over leveraged longs, who bought in during the preceding euphoria, that just all got smacked down. All that cash is now in the mystery shorter's account. I doubt he is in a hurry to pump the price back up as he has 17k bitcoin to buy back below 6.45 before he can realise his profit. |
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it will go back up to 5.80, then head lower.
It all depends on what time-scale "when the dust clears" is.
it will go back up to 5.8 in next 24hours, then head lower over next fortnight  forum post 2.0 - now with added timescales |
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