Perhaps everyone here thinks that we are currently replaying October 2013 and haven't even made it to November yet?
Pretty much this^. Not everyone. I think we could be replaying August 17th 2012. |
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Support broken. Looks like we are in the middle of the second leg down of A.
Critical support broken, confirms we were in the middle. Bottom should be around 5000 CNY. China won't drop right now, so either the last small part of the dump is truncated, or delayed for several hours. 5000 CNY would have been a bear's wet dream.  I never margin trade, but this is a moment I would expect some smart types to go long. You still think we have further to go down? I am not criticising - given your recent prescience, I am asking. Quite likely to go further down, but not right now. Go long only for scalping. At last the Chinese dumped (as usually, started at 3.45 am my time, while I was asleep), probably completed the second leg down of A. This took too long and almost made me believe it was truncated. If I am right and the third leg down is to come, resistance moved to about 6300 CNY. I am expecting a small bounce into that resistance, and sideways for two days, then the third leg down. Right when the market was at an inflection point, ready to take the plunge and confirm the third leg down, a LTC pump started and BTC followed soon, so I don't know which way...  The market has slowed down, and the Chinese established a critical support at 6100 CNY. If this will be broken, which could happen tomorrow, then the third leg down will be confirmed and A would end soon. |
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Support broken. Looks like we are in the middle of the second leg down of A.
Critical support broken, confirms we were in the middle. Bottom should be around 5000 CNY. China won't drop right now, so either the last small part of the dump is truncated, or delayed for several hours. 5000 CNY would have been a bear's wet dream. I never margin trade, but this is a moment I would expect some smart types to go long. You still think we have further to go down? I am not criticising - given your recent prescience, I am asking. Quite likely to go further down, but not right now. Go long only for scalping. At last the Chinese dumped (as usually, started at 3.45 am my time, while I was asleep), probably completed the second leg down of A. This took too long and almost made me believe it was truncated. If I am right and the third leg down is to come, resistance moved to about 6300 CNY. I am expecting a small bounce into that resistance, and sideways for two days, then the third leg down. Right when the market was at an inflection point, ready to take the plunge and confirm the third leg down, a LTC pump started and BTC followed soon, so I don't know which way... |
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Hmm, this is looking kind of bullish, so I may buy the next local bottom.
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Support broken. Looks like we are in the middle of the second leg down of A.
Critical support broken, confirms we were in the middle. Bottom should be around 5000 CNY. China won't drop right now, so either the last small part of the dump is truncated, or delayed for several hours. 5000 CNY would have been a bear's wet dream. I never margin trade, but this is a moment I would expect some smart types to go long. You still think we have further to go down? I am not criticising - given your recent prescience, I am asking. Quite likely to go further down, but not right now. Go long only for scalping. At last the Chinese dumped (as usually, started at 3.45 am my time, while I was asleep), probably completed the second leg down of A. This took too long and almost made me believe it was truncated. If I am right and the third leg down is to come, resistance moved to about 6300 CNY. I am expecting a small bounce into that resistance, and sideways for two days, then the third leg down. Someone trading on OKCoin must have read my "resistance at 6300 CNY", because it stopped at 6299 CNY. This correction should bounce from support, and then retest support tomorrow morning. |
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Support broken. Looks like we are in the middle of the second leg down of A.
Critical support broken, confirms we were in the middle. Bottom should be around 5000 CNY. China won't drop right now, so either the last small part of the dump is truncated, or delayed for several hours. 5000 CNY would have been a bear's wet dream. I never margin trade, but this is a moment I would expect some smart types to go long. You still think we have further to go down? I am not criticising - given your recent prescience, I am asking. Quite likely to go further down, but not right now. Go long only for scalping. At last the Chinese dumped (as usually, started at 3.45 am my time, while I was asleep), probably completed the second leg down of A. This took too long and almost made me believe it was truncated. If I am right and the third leg down is to come, resistance moved to about 6300 CNY. I am expecting a small bounce into that resistance, and sideways for two days, then the third leg down. |
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I'm getting deja vu - this is exactly like the warnings issued in late 2013/early 2014 from the Chinese, which panicked everyone into selling. Maybe they're trying to jaw-bone people away from bitcoin.
Yeah, but remains to be seen if this will evolve into something worse, or not. Just now it was more about excessive leverage and long squeeze, than panic selling due to bad news. |
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If the Chinese don't start dumping within a couple of hours, it's possible to have a bounce until resistance at 7400 CNY.
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Support broken. Looks like we are in the middle of the second leg down of A.
Critical support broken, confirms we were in the middle. Bottom should be around 5000 CNY. China won't drop right now, so either the last small part of the dump is truncated, or delayed for several hours. 5000 CNY would have been a bear's wet dream. I never margin trade, but this is a moment I would expect some smart types to go long. You still think we have further to go down? I am not criticising - given your recent prescience, I am asking. Quite likely to go further down, but not right now. Go long only for scalping. |
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Support broken. Looks like we are in the middle of the second leg down of A.
Critical support broken, confirms we were in the middle. Bottom should be around 5000 CNY. China won't drop right now, so either the last small part of the dump is truncated, or delayed for several hours. 5000 CNY would have been a bear's wet dream. |
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Support broken. Looks like we are in the middle of the second leg down of A.
Critical support broken, confirms we were in the middle. Bottom should be around 5000 CNY. |
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Support broken. Looks like we are in the middle of the second leg down of A.
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This is getting weird... There should be some very bad news, otherwise I can't explain this by TA... |
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 correction should be simple having had so many combinations. A permabull's dream meets harsh reality...  |
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I JUST WOKE UP DO I PANIC SELL OR PANIC BUY??!?!?!?!   Soon it will be time to panic buy. |
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Can we just sticky this? There is one every few days...  Nice Call and now we move on.  Except that the OP was being sarcastic, and actually denied the possibility of a large drop. So far, Huobi and BTCChina are still MIA, while OKCoin dumped much harder than expected. Is there some bearish news from China, like the two exchanges being in difficulty somehow? |
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Crazy that a dump like that can alter the price in a space of minutes.
So i guess it's a good thing right? There are limited coins and always will be. If someone holds a large number and dumps their coins or a large amount of them they will be bought up by a big number of people therefore spreading the coins around and preventing another dump of these particular coins in one go.
So, (if that makes sense) am I right in saying the more of those sudden dumps we have is a good thing long term as it spreads btc around?
Please feel free to tell me I am typing pure horse shit if that's the case.
Both the FOMO top and the big dump on OKCoin and Bitfinex were ridiculous IMO. If this is good or not for bitcoin... |
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huobi froze and wouldn't let me trade any of that..
It's a conspiracy..
Maybe circuit breakers or something...  Btw... who made more than 10% on this madness ?? I could have, but closed my short too early, so only made 1 / 3 of the potential...  |
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Hey podyx, who doesn't know what he's doing now?  |
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I believe it will work, just wait another 12 hours. If I'm right, this was just a tiny dump, a larger one should follow in about 12 hours. It's possible, but I doubt it. A large one *will* follow, but it's not time yet. How large do you think? About 3x the amplitude of this small dump, if the bearish scenario is favored, we'll see soon... well, tzupy, I guess you were wrong. Embarrassing... I counted the 1 - 3 - 5 of the 1 and called the top, but the real 3 and 5 were yet to come... The 3x amplitude of a future correction may still happen in China, but western exchanges didn't properly follow, so they will drop less. Exceeded my wildest expectations! Unfortunately for me, I rationally closed my short just before the largest part of the dump... shrug... |
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