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Is this higher volume than the rally to $1100+
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I wonder as well, are people selling at loss, or are early adopters cashing out?
Yesterday morning's dump happened in about two minutes. I expect it was people panic selling (at a loss). |
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How come the thread title got changed from "Dead cat bounce" to "Dead cat dance", or am I imagining it changed?
It didn't change. There must be 2 threads. I think 'dance' is more appropriate  Maybe I read it as bounce because I expected it. Dead cat dance is not a trading expression I have heard before. |
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How come the thread title got changed from "Dead cat bounce" to "Dead cat dance", or am I imagining it changed?
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I do. Decided to go all the way to the bottom if bitcoin decides to turn its back on me and die.
I refuse to sell it for $150, I know it's worth much more and don't care that nobody wants to pay more at the moment.
The price is already shooting back up. Anyone selling at 150 will probably end up buying back in a lot higher. |
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Word on the street is a new coin named "BitRippleDark"
A Google search for it came up blank |
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Are we going to see bitcoin below 100 soon?
I believe not. Even because the price is already rising. I do not know if reached $ 200, but $ 198 I witnessed It reached 205.6 about four hours ago and it's getting close to heading back above 200 again. |
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Price is stabilising in the short term.
I dont think its very likely that it will stabilize in this range for too long, i think it will either go to 160< or chu-chu to 250~ or so and settle down there. I agree. 190 needs to hold here but no volume No volume could be a sign capitulation is over and people will start buying back soon. |
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I don't think it will fall below 100, it's at 180-190 right now and it might go below 150 but it will bounce back up.
Neither do I because China has been awake for hours and has not heavily dumped. Today there has been mostly panic buying. |
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We need a reset to 2 or even 1 digit numbers, before the story with mtgox and its money from thin air. Maybe another bearish year will fix bitcoin.
Even though I have no technical reason I have to agree with you purely on what my personal valuation of BTC. It isn't worth much more than single digits to me personally so I am reluctant to jump back in until then. What if it never hits single digits? |
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................ Selling at ~$195 and buying at ~$132
Thoughts on this?
is there any chance that we'll see a retrace up to 240 or something before going further down?
Don't you think you're being a little greedy? Seriously though, yes there is a possibility of 230's if this is the C of another 4th wave. The rise off the bottom looks more corrective, and with the extended downtrend and lack of a decent pull back, there is the chance that we are still in the corrective move off the bottom. I still see a good chance of lower lows in our future, but maybe not for a few days. Maybe we hit $132...wont last very long. Some people tend to get caught in short squeezes then end up selling too low and buying back higher. Everyone make your own decisions without blaming anyone else for the outcome.  +1 The post below describes a short squeeze but if you read its thread the author isn't against shorts, just warning what can happen. I have. And its not pleasant. In fact, they are extremely vicious. Without appropriate risk management, they have the ability to wipe you out.
Imagine the Spring ramp repeating itself while you're holding short. The mentality has settled in with virtually all the Bears that Bitcoin is done and is going to zero. They are taking their victory laps and cheering their profits. This type of mentality is just as bad as the speculative bubble, only in reverse.
I have most unpleasant news for you. The Squeeze of the Century is coming. It may not be tomorrow, next month, or even next year, buts its coming and you will be crushed.
I know the feeling. You shorts are probably sleeping less well now while you're making profits than you did before. Thats because deep down you know the protocol has not failed, you know that 99% of the people want Bitcoin but just don't know it yet, you know the developers are still out there and working on improvements, and you know that big money is waiting on the sidelines for the perfect time to buy and buy hard.
Typically the ramps come in the middle of the night. You wake up and the price has doubled trapping you deeply in the losing trade. You wait and wait for the price to come back down but it never does as the price moves upwards incessantly to force you to cover. The pendulum has swung too far to the wrong side.
Just wait. Its coming...
Nobody was even talking about shorting it down. At least in the original conversation smoothie was replying to. Selling BTC for fiat is not the same as shorting. If the price rises while you're in fiat, you lose nothing except opportunistic gains. You have the ability to wait for the retrace to get in. You are not forced out of your current position as with a short squeeze. For the record, I have been accumulating for the last few days so I am in no way telling anyone to short nor am I short. Shorting here is the most extreme of risk and the whole idea of trading is to minimize risk for whatever position you take. Sorry I misinterpreted what you meant by a short squeeze. |
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oh shit i forgot to buy the bottom  I was advised not to attempt catching a falling knife, but wait until it bounced. Maybe it's bouncing. |
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How do you spot a launchpad pattern?
It's easy if you are as experienced with TA as I am. Just trust me and get ready for liftoff. Buy now or cry into your pillow later! 197 on Finex already! OMFG!!! What TA indicators do you use? |
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Classic launchpad pattern forming on all exchanges. This thing is about to blow up. Hold on to your hats and expect $500 by tomorrow. Last chance to buy cheap coins.
How do you spot a launchpad pattern? |
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Selling at ~$195 and buying at ~$132
Thoughts on this?
is there any chance that we'll see a retrace up to 240 or something before going further down?
Don't you think you're being a little greedy? Seriously though, yes there is a possibility of 230's if this is the C of another 4th wave. The rise off the bottom looks more corrective, and with the extended downtrend and lack of a decent pull back, there is the chance that we are still in the corrective move off the bottom. I still see a good chance of lower lows in our future, but maybe not for a few days. Maybe we hit $132...wont last very long. Some people tend to get caught in short squeezes then end up selling too low and buying back higher. Everyone make your own decisions without blaming anyone else for the outcome. +1 The post below describes a short squeeze but if you read its thread the author isn't against shorts, just warning what can happen. I have. And its not pleasant. In fact, they are extremely vicious. Without appropriate risk management, they have the ability to wipe you out.
Imagine the Spring ramp repeating itself while you're holding short. The mentality has settled in with virtually all the Bears that Bitcoin is done and is going to zero. They are taking their victory laps and cheering their profits. This type of mentality is just as bad as the speculative bubble, only in reverse.
I have most unpleasant news for you. The Squeeze of the Century is coming. It may not be tomorrow, next month, or even next year, buts its coming and you will be crushed.
I know the feeling. You shorts are probably sleeping less well now while you're making profits than you did before. Thats because deep down you know the protocol has not failed, you know that 99% of the people want Bitcoin but just don't know it yet, you know the developers are still out there and working on improvements, and you know that big money is waiting on the sidelines for the perfect time to buy and buy hard.
Typically the ramps come in the middle of the night. You wake up and the price has doubled trapping you deeply in the losing trade. You wait and wait for the price to come back down but it never does as the price moves upwards incessantly to force you to cover. The pendulum has swung too far to the wrong side.
Just wait. Its coming...
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Worse.
Did you go through the 2011 crash? |
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yesterday we hit a new daily volume record on finex, today we doubled that new record.
There were 45k coins traded in less than an hour on bitfinex this morning. That's almost the quantity for sale at the last US marshals auction. |
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what the fucking shit is going on!
Nothing new, traders shorting the hell out of Bitcoin till we go to zero. ĦAll praise the unregulated markets! If we go below $100 i'll be buying again  I doubt we will go to zero. More and more traders are getting wiped out. I'm done for.....
Me too, got wiped out on a leveraged trade already. I'm out. for good  |
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what the fucking shit is going on!
Agreed. Indeed Panicking traders |
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Litecoin:  $1.14 I'm shocked |
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