I am detecting a lot of newbie accounts talking about 250 being the bottom. so funny.  Wow you are desperate. are those your sock puppets? you were the one to post that brilliant TA after all. I don't have sock puppets. Too busy planning my next vacation with btc profits for that. |
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I am detecting a lot of newbie accounts talking about 250 being the bottom. so funny. Wow you are desperate. |
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 Need volume bears, or bottom is in. Quoting self for posterity  |
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bitfinex order book is looking really bad.
3 k till 230.
if we go under 210 sell everything.
Yet it refuses to go any lower! I know you're probably extremely short right now, possible on margin, but I hope you've set your stops accordingly... I hope he is short on leverage and gets burnt badly. He used to be sort of a good read but nowadays it's getting close to trolling. I don't have to read what he has to say, there is nothing new. He's morphing into LambShroomie. Maybe he fears a bull market and misses 2014. But this is getting old quick. Short from 290's I think he's quite safe from being burnt. Still he (she?) is taking on additional risk by not closing at least part of a good trade like that after we've bounced off $250 three times. Just because the EW crew calls for $220 doesn't make it magically happen. Might be time to adjust those wave counts yet again, boys  |
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Need volume bears, or bottom is in. |
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Behold the power of TA |
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We hit a nice double bottom, consolidated a bit, then a couple big longs started closing all at once and price just shot up... suddenly we are in the 260s and I fly to the computer to close my short... the orderbooks are so thin on the ask side... I think we all thought it was going to go lower.
-1 bottle of wine but +30 to my stash, put my buy orders a little below market but may have to panic buy in a few hours. Looks as if demand still wants to push up.
I don't think there's a rolls eye emoji that can capture my feelings right now. My advice is to build a Lego house and try to live in it! :)its all not as bad as it seems. Even if it pushes up ,sooner or later its coming back We already have a green candle on the daily. Strengthens the case that this was an extended shakeout. But we'll see. |
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We hit a nice double bottom, consolidated a bit, then a couple big longs started closing all at once and price just shot up... suddenly we are in the 260s and I fly to the computer to close my short... the orderbooks are so thin on the ask side... I think we all thought it was going to go lower.
-1 bottle of wine but +30 to my stash, put my buy orders a little below market but may have to panic buy in a few hours. Looks as if demand still wants to push up.
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Fascinating! I haven't seen this before! Nah, most of those guys are relatively small fish from the reddit brigade. From my observations it's likely a small group of unrelated individuals with professional market experience, deep pockets and pretty sophisticated bots. You wanted Wall Street, well they are here and are shaking the market for all it's worth! |
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Well you bears had to ruin all the run. My stop sell was triggered while I attempted to grab a little sleep--in it for the downside now. |
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All I know is I tried to help people out the last two days by telling them it was gonna drop and they can trade both sides but as per usual nobody listens here in permabull land.
The Wyckoff trading range chart I posted yesterday on reddit had both a bullish and bearish mid-term scenario. Honestly either could have played out depending on the news--I started to see reduced demand over the last few days (but not supply) and closed out my long from $240 figuring the top would round out somehow. That might mean it may not go very low into the range, but we'll see. I'll probably wait until later today to decide whether to play short. With the amount of shenanigans that goes on in this community when it comes to trading, nobody should trust anybody! |
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This might have some legs coinciding with the news and all. May look to play the short side here.
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About 10,000 coins were sold on Bitfinex alone to only bring us down $10, but the bid side remains the same. Take that info how you see fit. I know what that means to me.
Let me translate: Bull-market is ON. Bear-market is off. This 10$ move was an last failed attempt to reverse the trend. I see the we are going up. What is your basis? This experienced trader makes a valid point for something otherwise: https://www.tradingview.com/v/iWXmzaeG/Dont waste your time, no one left in here is a serious trader, if you actually want to hear the views of people who can trade both ways join whaleclub on teamspeak or trading view chat. Hey now, here I am, making a nice living. Tradingview analysis is largely unimpressive to me and I don't see anyone predicting reversals, simply trend continuations and lots of EW (meh). Also very little volume analysis and over-reliance on indicators. Whaleclub is just going to cloud new traders and is possibly a way for the mods to gain a following to trade against. You can't rule anything out when profit is on the line. Best to go it alone. |
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Looks like some longs unloading. Not many people following.
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It's easy to criticize when you're the one watching. Performing/public speaking is a very difficult skill to master.
You're absolutely right, and I could personally never do it justice. This is a very difficult pitch to listen to though. EDIT: did they mention the progress of the ETF earlier on? Not really. They mentioned COIN in the present tense as if one could purchase a share of it, but nothing that we don't already know. |
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It's easy to criticize when you're the one watching. Performing/public speaking is a very difficult skill to master.
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These guys are terrible at presentation skills.
Unfortunately I have to agree. Agreed. Something they could improve upon. |
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SXSW Winklevoss Bitcoin talk starting if anyone's interested. www.sxsw.com/on |
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thanks... for me the more I try to think like a whale the more I imagine they have more to gain by continuing the downtrend. They will continue in the direction of least resistance according to supply and demand. That is why after capitulation they began pumping instead of dumping. Fighting natural market forces is a good way to go broke, any market professional knows this. They won't do it. There is also a good chance that they can see both sides of the market and have insider connections--so they know when to mark the price up or down ahead of how much fiat is entering the exchanges and what kind of news is coming out. They've tested the hell out of this price range and it resulted in an accumulation gradient of rising bottoms (likely by multiple competing interests). This is bullish. They see this. We will test downward as many times as needed to break $300. If it means that they hold most of the coins on Finex to do this, so be it. They will be distributed later. I get your points. It's just considering the implication that the large actors are sufficiently stacked to change market sentiment completely (tweak indicators, create momentum, etc) wouldn't it be profitable to sell into a rising bull market if you feel with a degree of certainty that you can manipulate it down again? When the consensus targets are above an exit point you are happy with, you know they are going to continiously keep buying at your favourite point before getting exhausted. Let's assume 300 is that point, would roughly 100% gains (if for arguments sake their buy point was near the 166 bottom, and we discount the massive rebound to 315) or more not be sufficient for this whole exercise? The new "sustainable" bull market can come later when the institutions are properly set up and notable new money is flowing in. Every move costs them money and they want to reduce costs, as anyone logically would in their position. They cannot take control of the entire market; there is still organic trading and medium sized whales that will profit from them given the chance. It's simply more expensive to dump into a bull market that has removed so much supply from weak hands and has so many accumulators waiting. They could still dump down to $220 today, but why would they? It would be prohibitively expensive the likelihood of the dump being successful is reduced as everyone tries to frontrun everyone else for cheap coins. Instead they can push up, which is cheaper and it benefits their massive portfolio of coins they've been building. The way I see it, Jan 25th's volume shows a large distribution area around $300-$315. This is whales unloading longs from the bottom--they cannot hide from that volume. They likely reloaded during the next few weeks in stealth (the pump before the Bter news had whale footprints) but are still holding as there hasn't been a spike in volume nor a buying climax yet for them to sell into. In fact volume has been reducing, indicating that they're largely observing and waiting. Now if there isn't sustained buying at this level as we consolidate sideways for a few weeks, I could envision an eventual extended test downward to force out remaining bears as they unload and push the market down. If we hold $280 and the market shows a bullish bias in the coming days, I think the direction is obvious for them. |
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NLC hasn't been active for 6 days  He won't be back until Easter. |
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