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This is EXACTLY what happened in May. Huge walls popped up and pushed up the price on low volume.
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ATH soon, wohoo
ATH? ATH is $1250. How do you get that conclusion, from $710? |
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I would love to see a bunch of coins dumped like that and see the market return to a fair price fueled by investor demand rather than speculation. If I could get a rock solid price like that which I could feel completely safe with, then I would hold my coins in codl storage and take a break from the exchanges and the charts.
What is a fair price? I am not sure but wed find out when those coins are dumped and people have to put up real sums of money in order to support the price. Id like to see order books stacked up with giant walls on both sides like in the old gox days, and high volume. I still feel like were in sort of a low grade bubble (but not a hyper bubble) fueled by whales hoarding all the coins, and games with fake Chinese volume numbers and a perpetual motion machine involving bots and margin trading. Were way above the exponential trend too. When people get scared about 1-3% of the coins entering the market causing mortal damage to the price then something is wrong. |
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I would love to see a bunch of coins dumped like that and see the market return to a fair price fueled by investor demand rather than speculation and games. If I could get a rock solid price like that which I could feel completely safe with, then I would hold my coins in codl storage and take a break from the exchanges and the charts.
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I hope all these "we will see a slow downtrend" predictions are a little more sophisticated and dont just come from looking at the last April bubble.
Its happened after nearly every pullback - not just the last one. |
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If you were in bit coin in may then you might feel what phase were in.
How is that bearish trendline looking TERA? What happens if we flatline out of it? If we break it with this low volume then its a TARP. We might see some weeks of stability and even a miniature rally on some hype followed by a slow burning downtrend all the way down near the floor. |
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If you were in bit coin in may then you might feel what phase were in.
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choo choo!!
Trains normally travel flat. Only in the small cap financial markets are they seen with rocket boosters and expected to travel upwards. But normally they're very... flat, and boring. So ironically a train is probably accurate right now. Choo choo... |
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All aboard the freight train up the hill with a nice view of the moon choo choo.
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What the F!! I thought we were done with China. I wanted to see a natural recovery by OUR exchanges. Please just GTFO China. Good riddens!
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To open a 'short' or 'long' on the margin trading page, you are required to 'borrow' the corresponding amount of coins or usd from a lender, even if you possess the same amount yourself. So many people are taking 'loaned' positions even though they're not. I do this myself a lot when trading because I don't want to bother moving funds between my trading and exchange wallets and using two different wallets and two different pages.
Let's say I have 100 bitcoins in my trading wallet. With this, I can simply 'short' 100 bitcoins to sell 100 bitcoins instead of moving the 100 to my exchange wallet and 'selling'. Then, when I am bullish again, I can 'cover' 100 bitcoins instead of buying. Then I can immediately 'long' another 100 bitcoins to go on margin, on the same page, without transferring funds from the exchange wallet to the trading wallet. I can also do both of these at the same time by 'longing' 200 bitcoins. this will both cover the 100 bitcoin short and open a 100 bitcoin long at the same time. Another thing I could have done in the beginning, if I am extra bearish, is go 'short' 200 bitcoins which would negate my 100 bitcoins plus be truly 100 bitcoins short at the same time. Then when I'm ready, I can 'long' 300 bitcoins. This will cover the short, rebuy my bitcoins, and go long, all in the same trade, without moving around pages.
Now... The consequence of being lazy and using the margin trading page to 'long' when you actually have the funds to 'buy' or 'short' when you actually have the funds 'sell' is quite different. If you're buying btc, you have to pay ~1% interest per day on the USD. On the other hand, if you're selling btc, you have to pay ~0% interest on the BTC. Therefore, people are much more likely to do this with btc. This is what skews the indicator.
You forget to mention the stress of opening such large positions and how you really have to be patient not to lose your shirt! I am just explaining how short and long are calculated and how the BSI indicator is affected. There's like over 10 million loaned out right now. Are most of these positions going long or just funds sitting there? Imagine if it is going long and people decided to liquidate, that would be a major sell off there. Like I said, it's much more likely that the longs are true longs (than the shorts being true shorts), otherwise these people would be paying 1%/day interest for nothing. |
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To open a 'short' or 'long' on the margin trading page, you are required to 'borrow' the corresponding amount of coins or usd from a lender, even if you possess the same amount yourself. So many people are taking 'loaned' positions even though they're not. I do this myself a lot when trading because I don't want to bother moving funds between my trading and exchange wallets and using two different wallets and two different pages.
Let's say I have 100 bitcoins in my trading wallet. With this, I can simply 'short' 100 bitcoins to sell 100 bitcoins instead of moving the 100 to my exchange wallet and 'selling'. Then, when I am bullish again, I can 'cover' 100 bitcoins instead of buying. Then I can immediately 'long' another 100 bitcoins to go on margin, on the same page, without transferring funds from the exchange wallet to the trading wallet. I can also do both of these at the same time by 'longing' 200 bitcoins. this will both cover the 100 bitcoin short and open a 100 bitcoin long at the same time. Another thing I could have done in the beginning, if I am extra bearish, is go 'short' 200 bitcoins which would negate my 100 bitcoins plus be truly 100 bitcoins short at the same time. Then when I'm ready, I can 'long' 300 bitcoins. This will cover the short, rebuy my bitcoins, and go long, all in the same trade, without moving around pages.
Now... The consequence of being lazy and using the margin trading page to 'long' when you actually have the funds to 'buy' or 'short' when you actually have the funds 'sell' is quite different. If you're buying btc, you have to pay ~1% interest per day on the USD. On the other hand, if you're selling btc, you have to pay ~0% interest on the BTC. Therefore, people are much more likely to do this with btc. This is what skews the indicator.
You forget to mention the stress of opening such large positions and how you really have to be patient not to lose your shirt! I am just explaining how short and long are calculated and how the BSI indicator is affected. |
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To open a 'short' or 'long' on the margin trading page, you are required to 'borrow' the corresponding amount of coins or usd from a lender, even if you possess the same amount yourself. So many people are taking 'loaned' positions even though they're not. I do this myself a lot when trading because I don't want to bother moving funds between my trading and exchange wallets and using two different wallets and two different pages.
Let's say I have 100 bitcoins in my trading wallet. With this, I can simply 'short' 100 bitcoins to sell 100 bitcoins instead of moving the 100 to my exchange wallet and 'selling'. Then, when I am bullish again, I can 'cover' 100 bitcoins instead of buying. Then I can immediately 'long' another 100 bitcoins to go on margin, on the same page, without transferring funds from the exchange wallet to the trading wallet. I can also do both of these at the same time by 'longing' 200 bitcoins. this will both cover the 100 bitcoin short and open a 100 bitcoin long at the same time. Another thing I could have done in the beginning, if I am extra bearish, is go 'short' 200 bitcoins which would negate my 100 bitcoins plus be truly 100 bitcoins short at the same time. Then when I'm ready, I can 'long' 300 bitcoins. This will cover the short, rebuy my bitcoins, and go long, all in the same trade, without moving around pages.
Now... The consequence of being lazy and using the margin trading page to 'long' when you actually have the funds to 'buy' or 'short' when you actually have the funds 'sell' is quite different. If you're buying btc, you have to pay ~1% interest per day on the USD. On the other hand, if you're selling btc, you have to pay ~0% interest on the BTC. Therefore, people are much more likely to do this with btc. This is what skews the indicator.
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Just like watching paint dry
This is like... observing a wall. |
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I've always been under the impression that i286 was the correct number and other services had some issue where they lost data.
There are many times I am trading during high volatility where there will be a large wall showing on i286 but not other services and i'll see orders going through at the wall price.
Does anyone know for sure?
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What kind of music is it? Jazz? Country? Hip hop? Heavy Metal? Happy Hardcore?
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Fontas has somewhere between 1k and 10k btc.
So TERA, are you still bearish? Ok, I know the answer to that - my question is, at what break would you call the trend reversed? I don't know but I'm starting to get worried about my fiat with this order book (and the one stamp). It's like:   But the volume speaks otherwise. Could this be manipulated? |
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How is this indicator calculated?
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I'm really thinking of filling that guy currently on top for 1.48%/day interest, but then I wont be able to trade or buy btc... this is really tough. I've placed an order at 4.99% for now lets see if it gets filled lol.
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