Bid side of the order book on Bitstamp looks thin. I can't understand why the price stays up - nothing's supporting it. And that wall at 900 has been looming there for the whole day. Is someone waiting for funds so as to snatch almost 700 coins in front of the wall, before pulling it?
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The question as far as I'm concerned is whether this is real or some type of dead cat bounce. I mean to get over $1000, close to $1100 would mean something to me. If it stalls out soon though I'd be worried it's headed for another drop. We'll see I guess. Anyone familiar with characteristics of dead cat bounce?
It has the characteristic of an dead cat bounce. http://thepatternsite.com/dcb.htmlBut nobody knows. Uncertainty. Schrödinger's cat bounce.
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Still holding.
Psychology is an interesting thing.
Then the price moves up and down by $40, that feels like a lot. When the swing constitutes $400, you think, nah, not far enough down, I'll wait for an even better price...
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Damn, I am locked in.
I said that I am the best contrary indicator. When I said that I bought at 890, then was the time to get out.
Now I am not going to sell at a loss (for once), so it will surely go even lower. (If I sold now, it would rebound back immediately).
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People sell but the price goes up Cmon did one mistake by selling yesterday, can we please go back to 800 for a second if we did, you'd think "why buy now? It'll go lower" Probably But really, I regret it so much (again) that I speculated (once again wrong) and sold, even though I tell my self I will hold forever. I've been there. The worst type of sell is the "damn, i could have sold at the top but didnt, lets sell now and hope it goes down" Well, if you missed 1200, sold at 900 and bought at 550, then you are doing ok. However, the statement above holds in 99% of cases. Now, I bought on Bitstamp at 890, should I sell now at 860, to re-buy back at 800?
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There was a large dump on Bitstamp. A retraction before a jump forward, or have I just walked into a bull trap?
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People sell but the price goes up Cmon did one mistake by selling yesterday, can we please go back to 800 for a second if we did, you'd think "why buy now? It'll go lower" Was there, done that, got the absence of the increas of my BTC holding to prove it.
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Congrats to Cyper for his block on Bitminter!
3rd one since I started mining on 30th October Don't complain. I've been mining since November last year and haven't found a single block.
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Ok, I am all in, which means that we will probably crash. If I sell all out now, then we will rise. I am probably the best contrary indicator there is.
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Fresh money should hit the exchanges (at least Bitstamp) within the next hour. On the other hand, the current trend is slowly declining. Will there be a rally..?
EDIT: And it's suspiciously quiet here! Silence before the storm?
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@BitchicksHusband: I was staggering my buy orders, once I saw how low it would go, the problem is, I was putting them around the same area, and that low was not revisited. @kwest: I don't think I am over-invested, I have investments other places as well, but Bitcoin, though being the smallest of them, is the highest risk by far. And even a loss of a small amount would feel like a blow to self-esteem After selling, I also plan to spend less time following the exchange - I want my life back.
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So who sold at 570$?
Bearish Pendant?
It's more like who didn't buy at 570. Me, for example.
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There's a huge bid wall on Bitstamp @ 840!
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Just to re-post my entry from the Wall thread: It's as if this week-end didn't happen for my part. I got out at 880 and went all fiat. Then, then after a few flush-crashes, I was ready to turn in for the night, and decided not to place a buy order at 550: probably the biggest mistake of this year. Next morning: 650. Someone here write, that 650 is still a good price to get back in. Yeah, I still expect more down movement and place orders at 550-400 Next morning: 750. This time I small trade between 700 and 750, all the time expecting to flush-crash back down, and place staggered orders at 680-550. Next morning: 850. Does anyone see a pattern here? People learn from my mistakes. If you managed to sell before a crash and it looks like the price is already significantly below what you sold for, buy back in and sit tight, don't hunt for that illusive knife's edge. I am now back in at 880, having made only a small fraction of a bitcoin on minor trades. Every decision seemed rational and risk-minimising at the time. I don't get that same emotional roller-coaster feelings from trades any more, feeling rather calm. Searching deep within myself, I've identified that as calm fear. Even though I only invested in Bitcoin what I really can afford to loose, the loss would still be felt, and that was affecting my decisions. My next move will be to free myself from this fear. It has a price, and it's Bitcoin denominated. I am going to sell and withdraw some fiat, covering all my investment in Bitcoin purchases, purchases of the mining equipment, plus a small revenue on top of that. What's left, will be completely emotionally detached from the rest of my economy. Hope this rambling helps somebody as well. It's been therapeutic for me.
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It's as if this week-end didn't happen for my part. I got out at 880 and went all fiat. Then, then after a few flush-crashes, I was ready to turn in for the night, and decided not to place a buy order at 550: probably the biggest mistake of this year. Next morning: 650. Someone here write, that 650 is still a good price to get back in. Yeah, I still expect more down movement and place orders at 550-400 Next morning: 750. This time I small trade between 700 and 750, all the time expecting to flush-crash back down, and place staggered orders at 680-550. Next morning: 850. Does anyone see a pattern here? People learn from my mistakes. If you managed to sell before a crash and it looks like the price is already significantly below what you sold for, buy back in and sit tight, don't hunt for that illusive knife's edge. I am now back in at 880, having made only a small fraction of a bitcoin on minor trades.
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Placing my bid limit orders, accidentally switched price in BTCand $, bidding $10 for BTC620. Those were the days...
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700 sell wall on stamp from nowhere You call that a wall?
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CHOO CHOO!!!
I'm not sure it's CCMF time yet, but it's definitely bullish. Or at least more bullish than we've seen since before the bungled "China bans BTC" news fiasco. I expect a little more "Ouch time" before the week-end is over, but that's just me, who didn't place an overnight buy order at 550, then didn't buy at 650, expecting a fall back to 550, an then didn't place an overnight buy order at 650, but at 550, so I actually missed out on all 3 100-dollar bounces! Aaaarggghhhhh....... Now, feeling much better.
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Talking about fundamentals. Median line was mentioned a while back, and that we might correct/crash to it. Does anyone have a graph for where the median is now? I think it was around 450-ish.
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my prediction is that from this point we will be going only up, why ? I don't know just a feeling, kind of the feeling I had yesterday that we will fall so hard...
There's no such thing as "only up".
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