Pump only happened to liquiidate Short Stops, Dump has now wiped out Long Stops.

[MatTheCat]

Pump only happened to liquiidate Short Stops, Dump happened to wipe out Long Stops.

Face it. Ram fucking news events, fundamentals, technicals, up Bitcoin's fucking arse. The above describes EXACTLY why Bitcoin has moved the way that is has. Bitcoin is a casino, rigged and moved by just a very few sets of hands, if not ultimately just one set of hands.

Rodent Chinese bastards who are running Bitcoin market may think they are smart stealing all the stupid whitemans money off him, but BTC traders are going to start dropping out of market like flies.

Next BTC move I make will be to take all funds off exchanges.....bet you there are a lot of other little fishies and perhaps not so little fishies thinking the exact same thing.

[1715119441]

1715119441

[Wexlike]

What about the guys who shorted at 390$ ?

[bajing]

don't worry dude even though now price drop, why not we take this moment to buy some coins and hold them until price up. we need push back price up

[MatTheCat]

What about the guys who shorted at 390$ ?

Who the fuck shorted at $390 just yesterday?

Very very few. The either highly (inside) knowledgeable and/or the utterly foolish and fortunate.

Market structure just wasn't their for a short, at least not a short for a move like what we have seen. This dump was just one set of hands. Nothing fundamental event, not technical analysis pointed towards this. Go find me one technician who was yelling short as Bitcoin consolidated around $390, after a strong move up, after a very long time testing very significant trendline. Au contraire, they were either yelling Long, or were eyeing up a Long setup, or were still holding a long position.

I was in the latter category, but did indeed have my stop triggered way down at very bottom of the move thusfar..........but this will be the last time BTC does this to me for a very long time. I imagine that lots of others are thinking the same thing, and that liquidity will be increasingly flowing out of Bitcoin.

don't worry dude even though now price drop, why not we take this moment to buy some coins and hold them until price up. we need push back price up

I don't want to buy $375 Bitcoin, when I just got stopped out at $366 on the biggest Fucking Fuck You of Fucking Fuck You Fucking moves Fucking ever. Infact, I refuse to. I don't care what Bitcoin does next. I want my money off the exchanges, back into GBP, and back into my bank account.

[nanobrain]

I know its pretty pointless arguing with you but perhaps you just got it wrong, perhaps you are not quite the trader you think you are?

No, no-one  was yelling short the last couple of days but then do you really take trading advice from the internet....really?

Equally did you really think we were going to break out past 400....there's been no true technical reversal from the original drop a few months back. And the sharp spike a few days ago should have been a massive alarm bell.  This has happened over and over.  I'm a very cautious trader and rarely do so but even I knew this mini-rally was just a piss and wind bull trap.

Bombing the forum with multiple threads and posts about how rigged the market is just makes you look extremely butt-hurt. 

Anyway, since you are going, don't forget your coat, enjoy the rest of the Scottish winter and have fun with your GBP.

[cooldgamer]

What about the guys who shorted at 390$ ?

Who the fuck shorted at $390 just yesterday?

Very very few. The either highly (inside) knowledgeable and/or the utterly foolish and fortunate.

Well I had some in short @375, but doubled down when I saw the pump.  You don't have to have inside knowledge to recognize that a price raise for no reason while shit is hitting the fan isn't going to hold, especially when it isn't a strong breakout.  No need to get an attitude just 'cause you didn't call it right.

[MatTheCat]

I know its pretty pointless arguing with you but perhaps you just got it wrong, perhaps you are not quite the trader you think you are?

No, no-one  was yelling short the last couple of days but then do you really take trading advice from the internet....really?

Equally did you really think we were going to break out past 400....there's been no true technical reversal from the original drop a few months back. And the sharp spike a few days ago should have been a massive alarm bell.  This has happened over and over.  I'm a very cautious trader and rarely do so but even I knew this mini-rally was just a piss and wind bull trap.

Bombing the forum with multiple threads and posts about how rigged the market is just makes you look extremely butt-hurt.  

Anyway, since you are going, don't forget your coat, enjoy the rest of the Scottish winter and have fun with your GBP.

I have never thought I was a great trader, quite the opposite infact which is why I have recently joined a trader community and am taking the trading courses through that community.

It is from this community that I take my trading advice, not from troll forums like this.

Within this small traders community, there are guys who do very well. They make money, most of the time. None of them seen this coming. Mind you, none of them got stopped out either, cos they all trade OKCoin Futures Contracts. Notice how none of the Chinese Markets, or Stamp, or even BTC-e got involved in this move to the same degree. All these exchanges, merely had a substantial, yet 'healthy' correction from the recent rise. Just the two big Western exchanges where margin is traded shot below the base point from which the last big pump started.

Now, if this doesn't set alarm bells ringing in your head as to the integrity of this market, and/or these exchanges, then I don't think anything ever will.

Well I had some in short @375, but doubled down when I saw the pump.  You don't have to have inside knowledge to recognize that a price raise for no reason while shit is hitting the fan isn't going to hold, especially when it isn't a strong breakout.  No need to get an attitude just 'cause you didn't call it right.

Oh, is that a Bitstamp chart you are using for your apparent 'TA'?

you fucking 'pretty lines on a price chart drawer' you!

Did you short on Bistamp as well did you?

Screenshot of your short trade entry and exit points or you are talking bullshit.....simples.

[cooldgamer]

Oh, is that a Bitstamp chart you are using for your apparent 'TA'?

you fucking 'pretty lines on a price chart drawer' you!

Did you short on Bistamp as well did you?

Screenshot of your short trade entry and exit points or you are talking bullshit.....simples.

Jesus, somebody pissed in your coffee this morning.  I was trading on Bitfinex, and still shorting because I think we'll be going back to test 350 soon.  Undecided where I'll get out yet, probably 360.  Got a stop set at 390, don't feel like losing any money.  Had it set at 400 when entering the trade, since I figured if we broke through there the hype would cause another rally. 

[MatTheCat]

Jesus, somebody pissed in your coffee this morning.  I was trading on Bitfinex, and still shorting because I think we'll be going back to test 350 soon.  Undecided where I'll get out yet, probably 360.  Got a stop set at 390, don't feel like losing any money.  Had it set at 400 when entering the trade, since I figured if we broke through there the hype would cause another rally.  

What!?

You took a 24 billion Satoshi Short Trade!?

How can you possibly get to sleep at night?

 


Man...if I traded 0.24 Bitcoins, I would never lose. I would just leave trade on until it came good, and when it did, I could claim I called the market right, every single fucking time....


so erm....what do you plan on spending your $3.58 on?

[nanobrain]

Well, like I said...pointless even engaging with you.  For someone who thinks this is a trollforum, you've spent an awful lot of time and energy broadcasting your opinion here.

So, let me concede: your point of view is absolutely spot on, you are privy to all the facts and your schema is the actual and correct one.

If only you could locate the door with the same degree of certainty.

[cooldgamer]

What!?

You took a 24 billion Satoshi Short Trade!?

How can you possibly get to sleep at night?

 


Man...if I traded 0.24 Bitcoins, I would never lose. I would just leave trade on until it came good, and when it did, I could claim I called the market right, every single fucking time.

so erm....what do you plan on spending your $3.58 on?

I'm a broke college student, this is a hobby and I trade what I can afford to lose.  Trading a dollar or a thousand, doesn't mean I didn't call it right

I think I'll treat myself to a coffee while I'm out tomorrow.  Gotta love that 20% discount from Foldapp

[MatTheCat]

I'm a broke college student, this is a hobby and I trade what I can afford to lose.  Trading a dollar or a thousand, doesn't mean I didn't call it right

Well, if it is your hobby, then get some schooling and learn how to do chart analysis properly......seriously.....(I could give good recommendations on where you could seek help with that)


....this 'pretty lines on a chart' method is bullshit. The way you have circled these apparent 'breaches' of some totally fucking arbitary support trendline as though they actually meant something is a recipe for disaster.

[cooldgamer]

I'm a broke college student, this is a hobby and I trade what I can afford to lose.  Trading a dollar or a thousand, doesn't mean I didn't call it right

Well, if it is your hobby, then get some schooling and learn how to do chart analysis properly....


....this 'pretty lines on a chart' method is bullshit. The way you have circled these apparent 'breaches' of some totally fucking arbitary support trendline as though they actually meant something is a recipe for disaster.

You mean doing it properly like you so I can get mad after losing money?  I'll pass, doesn't seem like much fun to me.

Thanks for the time arguing, now I can get extra whipped cream courtesy of my sig campaign

[randy8777]

it was an expected dump. we have seen the price go up and down quite a lot. don't think many people beside noobs were expecting it to go higher than $400. it's pure manipulation. it's a money making opportunity for the smart guys.

[MatTheCat]

I'm a broke college student, this is a hobby and I trade what I can afford to lose.  Trading a dollar or a thousand, doesn't mean I didn't call it right

Well, if it is your hobby, then get some schooling and learn how to do chart analysis properly....


....this 'pretty lines on a chart' method is bullshit. The way you have circled these apparent 'breaches' of some totally fucking arbitary support trendline as though they actually meant something is a recipe for disaster.

You mean doing it properly like you so I can get mad after losing money?  I'll pass, doesn't seem like much fun to me.

Thanks for the time arguing, now I can get extra whipped cream courtesy of my sig campaign

When market moves like it does, or like it did on Finex, Kraken, but quite literally nowhere else......there is no doing it properly.

In the trader community that I am part of, NOBODY called this right. The best, or rather the most disciplined traders, simply didn't take a position, cause BTC was in No-Mans land, and never offered up a trade setup that they liked. Majority will still be in their Long trades however, cos they all mostly trade on OKCoin Futures. Only Finex and Kraken pulled this FU move extraordinaire (I trade on Finex/Kraken).

But believe me, there is a whole elaborate art to technicals based trading that will pay dividends in most markets.......even in BTC, and I can spot right away that this is an art form which you sorely lack.

I have made thousands trading these fucking ridiculous 'arbitrary lines' in the past, the unfortunate thing was that by suceeding with this 'technique', I deluded myself into actually thinking it was a valid methodology. It isn't!

[cooldgamer]

When market moves like it does, or like it did on Finex, Kraken, but quite literally nowhere else......there is no doing it properly.

In the trader community that I am part of, NOBODY called this right. The best, or rather the most disciplined traders, simply didn't take a position, cause BTC was in No-Mans land, and never offered up a trade setup that they liked. Majority will still be in their Long trades however, cos they all mostly trade on OKCoin Futures. Only Finex and Kraken pulled this FU move extraordinaire (I trade on Finex/Kraken).

But believe me, there is a whole elaborate art to technicals based trading that will pay dividends in most markets.......even in BTC, and I can spot right away that this is an art form which you sorely lack.

I have made thousands trading these fucking ridiculous 'arbitrary lines' in the past, the unfortunate thing was that by suceeding with this 'technique', I deluded myself into actually thinking it was a valid methodology. It isn't!

For one thing, you're approaching this from a purely TA standpoint.  Bitcoin isn't forex, it doesn't have the insane stabilities of countries behind it.  A few people (or china in some cases) can move the market a lot, sending it into a panic.

Mostly recently I've been short both because of the continuing trend, and because of all the drama going on with the blocksize as well as Mike Hearn Leaving.  The drama has been a perfect opportunity for the whales to create false panic and cause some price crashes, letting them buy up cheap coins for a while before we end up going up sometime in the near-future.

You're right that my TA isn't exactly world-class, but there's more than pure TA when it comes to trading crypto.  It's the ability to use a combination of it to find good times to trade and using the current clusterfucks to your advantage. 

[MatTheCat]

[cooldgamer]

Actually this was more of my lines of thinking.



I'm off to bed, it's like 6:00 AM.  Enjoy your night dude.

[MatTheCat]

For one thing, you're approaching this from a purely TA standpoint.  Bitcoin isn't forex, it doesn't have the insane stabilities of countries behind it.  A few people (or china in some cases) can move the market a lot, sending it into a panic.

Mostly recently I've been short both because of the continuing trend, and because of all the drama going on with the blocksize as well as Mike Hearn Leaving.  The drama has been a perfect opportunity for the whales to create false panic and cause some price crashes, letting them buy up cheap coins for a while before we end up going up sometime in the near-future.

You're right that my TA isn't exactly world-class, but there's more than pure TA when it comes to trading crypto.  It's the ability to use a combination of it to find good times to trade and using the current clusterfucks to your advantage. 

I would tend to agree with you on the fact that Bitcoin is a highly cornered market, which can be pushed this way and that by the actions of very few people, and not least of all by the exchanges themselves.

I also agree that the crash based on Mike Hearn leaving, had a lot more to do with whales capitalising on a perceived bearish fundamental, than any spontaenous mass movement of BTC holders rushing to get out. i.e. Had the whales decided to pump on that day, same panic sellers would have panic bought, and Mike Hearn story would be repsun as bullish fundamental.

However....we already crashed down to $350, and spent a long time testing and holding (despite your 'breaches' chart) a rather significant trendline. Even if trend was bearish (and actually 1Hr, and 4hr MAs crossed as bullish), Markets don't move in straight lines, they zig, and they zag. Had that breakout (the 'zig') been anything other than a totally engineered move to wipe out Short Stops up above, then Bitcoin would have been due a zag. 9/10 times, BTC would have 'zagged' after such a break out move, as would any market...but not on this occassion cos their was a whole bunch of Long Stops to wipe out.

I would imagine however, that there is another good argument to justify your conintued bearish stance, namely, liquidity exiting Bitcoin. There has just been millions of USD worth of Short and Long wipe outs. Thursday, all the bears got their asses handed to them, then Friday night, exact same thing gets done to the bulls. Noob traders and seasoned pros alike, will be sitting rubbing thier eyes in disbelief at BTC at the moment. A whole of capital is going to start slowly walking away from Bítcoin and into other things.....

......I doubt I am the only one who is off the mind to pull their funds out of the BTC exchanges in response to the blatantly fabricated price action over the past month or so.

[blunderer]

...
So, let me concede: your point of view is absolutely spot on, you are privy to all the facts and your schema is the actual and correct one.

If only you could locate the door with the same degree of certainty.