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Author Topic: Epic bull trap in the making?  (Read 5767 times)
NikolaTesla
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April 13, 2013, 12:36:39 AM
 #1

http://i49.tinypic.com/21cgthj.jpg

What do you think? Sustainable or not?

My thoughts: How anyone can jump right back in head first like this without any significant improvements to the exchanges is beyond me. We saw how vulnerable the market is to manipulation and how vulnerable Gox is to going down constantly and no changes have been made. All it's gonna take is another high roller cashing out and/or ddos attack to cause another drop.


Do as thou wilt shall be the whole of the law.
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thefiniteidea
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April 13, 2013, 12:38:27 AM
 #2



Looks like a target of $32 as the bottom isn't far off, afterall.

Bull trap now? Probably

BIG bear trap later? Definitely

 Grin

NikolaTesla
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April 13, 2013, 12:38:52 AM
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Oh yippie in the time it took me to write this thread it's dropped from 130 to 116...

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ElectricMucus
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April 13, 2013, 12:40:59 AM
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yes for bull trap

First they ignore you, then they laugh at you, then they keep laughing, then they start choking on their laughter, and then they go and catch their breath. Then they start laughing even more.
NikolaTesla
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April 13, 2013, 12:42:09 AM
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I made 2.5 times my initial investment; I don't need to complain about money. I'm just calling it like it is.

Do as thou wilt shall be the whole of the law.
notig
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April 13, 2013, 12:43:21 AM
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well I agree the price manipulation of the exchange is a real worry . I think they have already done a couple things though. They upgraded hardware on their server.... and as you can see from bitcoinity they only update their api or whatever at 5 minute intervals instead of all the time so that should help. Their trading lag is almost at 2 minutes again though. Not good.......
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April 13, 2013, 12:44:27 AM
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mmortal03
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April 13, 2013, 12:45:28 AM
 #8

If it drops back to $100 I'm going to buy in and then hold for the long term. I bought in at $60 today and sold at $103 thinking it was indeed a bull trap, only to see it jump up to $130 == too much stress trying to watch this 24/7. Gonna buy and hold at a psychologically important long term level of $100 and be done with it if the market gives me the chance here.
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April 13, 2013, 12:47:55 AM
 #9

I like how everybody is bigmouthing their "plans".  Cheesy

e: beware of thefiniteideas chart. It is purposefully misleading by omitting the magnitude of the drop in the lower "big picture" view to make it look like the pirate ponzi crunch.

First they ignore you, then they laugh at you, then they keep laughing, then they start choking on their laughter, and then they go and catch their breath. Then they start laughing even more.
Beta-coiner1
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April 13, 2013, 12:48:25 AM
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The price was artificially inflated by an anonymous user and deflated by an anonymous DDOS....I think the median rally is real.

XXthetimeisnowXX
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April 13, 2013, 01:00:04 AM
 #11

I made 2.5 times my initial investment; I don't need to complain about money. I'm just calling it like it is.

hey everyone! come look how bearish i am!!! ya i used to be a bull but now that its down im a bear.....oh wate no if im just following the masses im a SHEEP. baaaa baaaa baaa

hahahaha
 

you will be a bull again when it goes up. or not just to spite me. ether way ....baaaa baaaaa
alexh
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April 13, 2013, 01:00:53 AM
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Yea, the drop had to do with the lag and the ddos, so i don't quite get all the analysis about that.

NikolaTesla
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April 13, 2013, 01:02:55 AM
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I made 2.5 times my initial investment; I don't need to complain about money. I'm just calling it like it is.

hey everyone! come look how bearish i am!!! ya i used to be a bull but now that its down im a bear.....oh wate no if im just following the masses im a SHEEP. baaaa baaaa baaa

hahahaha
 

you will be a bull again when it goes up. or not just to spite me. ether way ....baaaa baaaaa
Quite the opposite. I will be bull when it goes down, because that means it's undervalued. I will be bear when it goes up if I think it's too high. Such as right now.

Do as thou wilt shall be the whole of the law.
ElectricMucus
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April 13, 2013, 01:04:58 AM
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Yea, the drop had to do with the lag and the ddos, so i don't quite get all the analysis about that.

Not really. The previous selloffs of the kind all resulted in quick recovery. This time it's actually a) negative press b) people actually becoming sick of BFL
I wouldn't be surprised if it was actually BFL themselves cashing out via proxies and getting ready to run.

Next thing: Look what people think of this. Even 4chan makes fun of us.
Final reason: This time it's not some shit that "just happened" like pirate, it's core infrastructure problems. The gox lag isn't because of a DDOS it's because their inept coders.
Bitinstant shutting down paypal and other options and stalling of SR sales.

First they ignore you, then they laugh at you, then they keep laughing, then they start choking on their laughter, and then they go and catch their breath. Then they start laughing even more.
thefiniteidea
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April 13, 2013, 01:06:30 AM
 #15

I like how everybody is bigmouthing their "plans".  Cheesy

e: beware of thefiniteideas chart. It is purposefully misleading by omitting the magnitude of the drop in the lower "big picture" view to make it look like the pirate ponzi crunch.


lol my bad, that was actually an error. i suppose I accidentally entered the date improperly into bitcoincharts. its still the 12th for me  Grin

Thanks for the catch, fixing now.

ElectricMucus
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April 13, 2013, 01:13:38 AM
 #16

I like how everybody is bigmouthing their "plans".  Cheesy

e: beware of thefiniteideas chart. It is purposefully misleading by omitting the magnitude of the drop in the lower "big picture" view to make it look like the pirate ponzi crunch.


lol my bad, that was actually an error. i suppose I accidentally entered the date improperly into bitcoincharts. its still the 12th for me  Grin

Thanks for the catch, fixing now.

nice try though.  Roll Eyes

First they ignore you, then they laugh at you, then they keep laughing, then they start choking on their laughter, and then they go and catch their breath. Then they start laughing even more.
thefiniteidea
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April 13, 2013, 01:18:47 AM
 #17

I like how everybody is bigmouthing their "plans".  Cheesy

e: beware of thefiniteideas chart. It is purposefully misleading by omitting the magnitude of the drop in the lower "big picture" view to make it look like the pirate ponzi crunch.


lol my bad, that was actually an error. i suppose I accidentally entered the date improperly into bitcoincharts. its still the 12th for me  Grin

Thanks for the catch, fixing now.

nice try though.  Roll Eyes

meanwhile, reptilian humanoids run our planet while aliens use us to mine their gold, right? Cheesy

Kazu
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April 13, 2013, 01:19:24 AM
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I like how everybody is bigmouthing their "plans".  Cheesy

e: beware of thefiniteideas chart. It is purposefully misleading by omitting the magnitude of the drop in the lower "big picture" view to make it look like the pirate ponzi crunch.


lol my bad, that was actually an error. i suppose I accidentally entered the date improperly into bitcoincharts. its still the 12th for me  Grin

Thanks for the catch, fixing now.

nice try though.  Roll Eyes

?? Its the 12th here too. I probably would have entered in 12 on the charts too.

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Luckybit
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April 13, 2013, 01:19:55 AM
 #19

I made 2.5 times my initial investment; I don't need to complain about money. I'm just calling it like it is.
Smart people bought up more coins, while impetuous people sold their coins to those smart people.

Do not be an impetuous short term investor. Be a prudent long term investor and that is when you'll gain more than you lose on Bitcoin.

I've lost not a penny and I've gained. I'm not bragging, just saying if you take the long view no one really has lost a penny. If you take the short view you lost everything. The prices are now more than they where when I bought my first coin. At the lowest low of 77 I bought more coins, that was today. I knew it wouldn't last that low and if anyone were smart they'd have bought at those prices. Some people got coins at $50. Honestly if I had more money I would have bought hundreds of coins, but unfortunately I only had a couple hundred bucks.



NamelessOne
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April 13, 2013, 01:34:43 AM
 #20

I made 2.5 times my initial investment; I don't need to complain about money. I'm just calling it like it is.
Smart people bought up more coins, while impetuous people sold their coins to those smart people.

Do not be an impetuous short term investor. Be a prudent long term investor and that is when you'll gain more than you lose on Bitcoin.

I've lost not a penny and I've gained. I'm not bragging, just saying if you take the long view no one really has lost a penny. If you take the short view you lost everything. The prices are now more than they where when I bought my first coin. At the lowest low of 77 I bought more coins, that was today. I knew it wouldn't last that low and if anyone were smart they'd have bought at those prices. Some people got coins at $50. Honestly if I had more money I would have bought hundreds of coins, but unfortunately I only had a couple hundred bucks.





This.  Cheesy
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