r0ach
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May 29, 2016, 12:35:39 AM |
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Relevant MatTheCat quote generator: the splashes of the whales have frozen me in my tracks
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danielW
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May 29, 2016, 12:40:18 AM |
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Meanwhile I was watching porn and youtube videos and made over 15% profit over weekend by holding  Anyhow its overshot when it starts getting to $5000 and above, thats selling territory. |
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MatTheCat (OP)
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May 29, 2016, 12:53:12 AM |
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This might be the start of a pump, but I doubt it very seriously. This would be a small hill in front of a mountain if it were.
What do you think a pump looks like? You know, we haven't even touched the 30 ma on the hourly chart since $450!? Here is a diagram showing the last time price moved around $100 over the course of two days, without so much as a tag of the 13 ma, on the hourly chart:  |
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MatTheCat (OP)
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May 29, 2016, 12:54:34 AM |
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Meanwhile I was watching porn and youtube videos and made over 15% profit over weekend by holding Anyhow its overshot when it starts getting to $5000 and above, thats selling territory. And you will be watching porn and YouTube videos when this dumps like a bitch, and your dreams of a new sports car or a weekender threesome with Swedish hookers or whatever, goes up in flames. P.S. Timber moment coming up btw... |
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r0ach
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May 29, 2016, 02:15:14 AM |
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I shall let TA tell me when/if 'The Halving' is coming.
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chesthing
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May 29, 2016, 02:59:38 AM |
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Big red fucking candle coming soon.
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marcus_of_augustus
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Eadem mutata resurgo
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May 29, 2016, 05:29:52 AM |
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I have placed limit shorts from 550$ to 565$, now I am afraid the piglets on BFX are going to miss them...  Ok, the hilarity index on this thread just leveraged up ... we can watch all the worst epic bears get rekt shorting the Smaug breakout of a lifetime. |
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Chef Ramsay
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May 29, 2016, 05:35:55 AM |
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I have placed limit shorts from 550$ to 565$, now I am afraid the piglets on BFX are going to miss them... Ok, the hilarity index on this thread just leveraged up ... we can watch all the worst epic bears get rekt shorting the Smaug breakout of a lifetime. And it will be without mercy and certain people won't be scene around these parts ever again. I've seen it before but not at what this magnitude will bring. |
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r0ach
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May 29, 2016, 06:28:51 AM |
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Since Mat is the type of person who would run a fractional reserve BTC exchange, what do you think about this illogical market activity on Bitstamp, Mat? Is it Ethereum scammers trying to suppress BTC price so their scamcoin doesn't collapse, or is it the Bitstamp exchange owners themselves doing it because they had $5 million in coins stolen a year ago and don't want price to go up?  |
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Denker
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May 29, 2016, 06:42:38 AM |
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Since Mat is the type of person who would run a fractional reserve BTC exchange, what do you think about this illogical market activity on Bitstamp, Mat? Is it Ethereum scammers trying to suppress BTC price so their scamcoin doesn't collapse, or is it the Bitstamp exchange owners themselves doing it because they had $5 million in coins stolen a year ago and don't want price to go up? But for how long could they avoid to move the price up over there? I mean if the pressure for the upwards movement keeps on going, sometime they have to run out of coins to sell right? |
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Tzupy
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May 29, 2016, 01:58:45 PM |
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I have placed limit shorts from 550$ to 565$, now I am afraid the piglets on BFX are going to miss them...  eek! Sure, we are in ridiculous nosebleed territory....but I wouldn't be placing any fucking limit shorts anywhere right now! Almost asking for as much trouble as going all in long with a market order right about now. The piglets on BFX are smarter than the Chinese piglets, they didn't touch my limit shorts, shrug... So I took a small short at 541$ and will increase my position on 15 min and 30 min PSAR bearish flips, at least that's my plan. It is possible that this wasn't a local 3, but a local 5 (the 3 got suppressed by the big triangle, still 112$ from 360$ to 472$). In such a case, the correction should be nice, and if 510$ support will be broken tomorrow, it should bottom around 470$. |
Sometimes, if it looks too bullish, it's actually bearish
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MatTheCat (OP)
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May 29, 2016, 02:58:34 PM |
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The piglets on BFX are smarter than the Chinese piglets, they didn't touch my limit shorts, shrug...
So I took a small short at 541$ and will increase my position on 15 min and 30 min PSAR bearish flips, at least that's my plan.
It is possible that this wasn't a local 3, but a local 5 (the 3 got suppressed by the big triangle, still 112$ from 360$ to 472$).
In such a case, the correction should be nice, and if 510$ support will be broken tomorrow, it should bottom around 470$.
I guess you will know, whether you know what you are doing or not, but as I have discovered, the odds of betting against the MAs are greatly reduced compared with taking trend following setups. If you took a short at $541 on Finex for example, where do you set your stop loss behind? There is no market structure to work with, and if enough short positions build up around topping areas, FU moves are always likely. Indeed, that is what the FU candle up to $453 on Finex no doubt was.....just the exchange shaking shorters out of their positions, and I suppose the smart trader could place his Short Entry, precisely where he expects the exchange to shake shorters out.....but what happens if the move up isn't an FU move at all, but a break out? We have had 3 very violent impulse moves up, that nobody was quite prepared for, who is to say 'they' won't engineer a fourth? Having a bias towards a correction here is one thing, but trying to short it is quite another....believe me....I am the absolute King of Shorting against the trend. ... ....and besides...if u got short at $541, didn't you take any profits as Finex dipped down into teens? I suspect the floor for Bitcoin will be put in here around $500. It is 'the Halving Pump'. Everyone knows Bitcoin is going to get pumped by the Chinese miners. I suspect that Bitcoiners and traders will be much more resilient in the face of downside than they normally would, and the Chinese Bitcoin cowboys, and other whales will be hanging around key support levels, putting in support from which to build the next phases of the pump......this just isn't a shorter's market at the moment. |
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clopoterian
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May 29, 2016, 03:16:22 PM |
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... just the exchange shaking shorters out of their positions, and I suppose the smart trader could place his Short Entry, precisely where he expects the exchange to shake shorters out... Still trying to beat the house, Mat? ProTip: You can't. |
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Ted E. Bare
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May 29, 2016, 03:25:26 PM |
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I agree with Mat's last post, +1; you're not supposed to go short here.
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RyNinDaCleM
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Legen -wait for it- dary
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May 29, 2016, 03:27:35 PM |
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Since Mat is the type of person who would run a fractional reserve BTC exchange, what do you think about this illogical market activity on Bitstamp, Mat? Is it Ethereum scammers trying to suppress BTC price so their scamcoin doesn't collapse, or is it the Bitstamp exchange owners themselves doing it because they had $5 million in coins stolen a year ago and don't want price to go up? You clearly have your app set for mBTC so that is a whole 48 btc dump? such dump, many suppress |
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RyNinDaCleM
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Legen -wait for it- dary
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May 29, 2016, 03:37:05 PM |
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I agree with Mat's last post, +1; you're not supposed to go short here.
No, you're not! There is nothing wrong with scalping a move in either direction if you know the risks and can accept them. If people can't speculate, then why are you here? What coins would you have bought, and how would price ever rise? Get over yourselves! People be tradin', yall hatin'. It's not your choice and none of your concern. People gonna people. |
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r0ach
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May 29, 2016, 03:37:25 PM |
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You clearly have your app set for mBTC so that is a whole 48 btc dump? such dump, many suppress
Nah, that was just one example of the continuous attempts at downward manipulation on Bitstamp. Even that single example alone, who throws away $2500 on purpose by selling coins $35 under market rate when they could just send the coins to Finex and sell? And here's another example of them doing it before that. There is some clear bullshit going on.  It's think it's either: 1) Ethereum scammers trying to suppress Bitcoin so their scamcoin doesn't implode or 2) Bitstamp exchange itself doing it possibly because they never bought back the $5 million in coins that they lost from their exchange when Bitcoin was priced at $230 and they don't want it to rise to have to pay customers back exponentially more money. |
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chesthing
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May 29, 2016, 04:03:07 PM |
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Price touched $485 on Stamp, I'm still thinking the new bottom is $465.
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r0ach
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May 29, 2016, 04:33:04 PM
Last edit: May 29, 2016, 04:45:41 PM by r0ach |
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Price touched $485 on Stamp, I'm still thinking the new bottom is $465.
Nobody gives a fuck about Bitstamp due to their obvious attempts to try and manipulate downwards to paint the tape. They're likely an insolvent exchange and people will just stop using them. Once Bitstamp spread gets large enough, people will deposit money there to buy Bitcoin and immediately withdraw it to a different exchange. Then Bitstamp will cease to exist after withdraw amounts exceed amount of coins they own while it also causes BTC to go to infinity in the process. |
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