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hmmmstrange
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July 21, 2014, 01:25:47 AM |
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We went up 3 dollars so people have to take their 20 bucks profit you know.
I was just reading some garbage over on reddit that a self-described "non-professional" market trader with 25 years of experience posted. It blew his mind at how the people trading this market had no idea what they were doing. One point in specific, he noticed that people continue to want the price to crash so that they can "buy back in". That, coupled with the apparent inability for people to let their winners run caused him to speculate that if/when Wall Street level traders do show up, that the "day tradurrz" of BTC right now are going to get chewed the fuck up. I can't wait. Wall Street level traders have no idea how to use or make dinosaur charts properly. |
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"Bitcoin: the cutting edge of begging technology." -- Giraffe.BTC
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ShroomsKit
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July 21, 2014, 01:29:06 AM |
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We went up 3 dollars so people have to take their 20 bucks profit you know.
I was just reading some garbage over on reddit that a self-described "non-professional" market trader with 25 years of experience posted. It blew his mind at how the people trading this market had no idea what they were doing. One point in specific, he noticed that people continue to want the price to crash so that they can "buy back in". That, coupled with the apparent inability for people to let their winners run caused him to speculate that if/when Wall Street level traders do show up, that the "day tradurrz" of BTC right now are going to get chewed the fuck up. I can't wait. Yup. I can't wait for the next bull run where all these people who keep dumping to make 50 bucks profit are forced to buy in with a loss. Where 2 months of trading and dumping is lost because we went up 100 dollars in 2 minutes. |
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JorgeStolfi
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July 21, 2014, 01:30:07 AM |
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Yesterday (Sunday Jul/21 UTC) Huobi's volume was only ~8.2 kBTC, their lowest daily volume since Nov/03 (just before the laas bubble, when they had been open for only 2 months).
OKCoin's volume was only ~12.8 kBTC. That is only a trifle higher than Feb/04 and Feb/05 (in the New Year holiday week) and than Jan/02 (when they started to again accept deposits by bank).
Maybe most of their their big traders have moved to the respective offshore exchanges (BitVC and OKCoin.com)?
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justusranvier
Legendary
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Activity: 1400
Merit: 1009
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July 21, 2014, 01:46:21 AM |
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That, coupled with the apparent inability for people to let their winners run caused him to speculate that if/when Wall Street level traders do show up, that the "day tradurrz" of BTC right now are going to get chewed the fuck up.
I can't wait.
Day tarding is just a bad idea in general. |
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empowering
Legendary
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Activity: 1078
Merit: 1441
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July 21, 2014, 01:50:46 AM
Last edit: July 21, 2014, 02:08:15 AM by empowering |
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Agreed day tarding can be hazardous to your wealth.... especially on margin, and especially going short (BTC) on margin. These are things I NEVER do.
Personally though I could not give a hoot if the Wall street traders "clean up" they can look after themselves.
and I hope everyone here on this forum, gets out with as many BTC or $£ as possible and happy new year and good cheer to all I say. That goes for the chart readers, the point and guess "feels good to me" traders, day traders, the hodlers, the bulls and the bears, and even the pigs... the whales can look after themselves - oh and fud spreading market manipulators they can fuck off too.
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ChartBuddy
Legendary
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Activity: 2170
Merit: 1776
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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July 21, 2014, 02:00:16 AM |
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ChartBuddy
Legendary
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Activity: 2170
Merit: 1776
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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July 21, 2014, 03:00:12 AM |
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camolist
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July 21, 2014, 03:15:27 AM |
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can we get back onto the path to the moon already  |
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ChartBuddy
Legendary
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Activity: 2170
Merit: 1776
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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July 21, 2014, 04:00:11 AM |
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JerryCurlzzz
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July 21, 2014, 04:18:19 AM |
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ask walls are high, but that can change in an instant.
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ChartBuddy
Legendary
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Activity: 2170
Merit: 1776
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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July 21, 2014, 05:00:12 AM |
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Davyd05
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July 21, 2014, 05:18:49 AM |
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coil I say, coil.. and spring
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ShroomsKit
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July 21, 2014, 05:20:08 AM |
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Looks like we're gonna drop under 620 again. Crazy  |
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Davyd05
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July 21, 2014, 05:47:27 AM |
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Looks like we're gonna drop under 620 again. Crazy why is the trend of mid summer, crazy? patience, perhaps a vacation  |
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ChartBuddy
Legendary
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Activity: 2170
Merit: 1776
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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July 21, 2014, 06:01:16 AM |
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ShroomsKit
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July 21, 2014, 06:11:52 AM |
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Looks like we're gonna drop under 620 again. Crazy why is the trend of mid summer, crazy? patience, perhaps a vacation But everybody told me we we're going to the moon mid summer. Now it's suddenly normal to go down instead? I think someone needs to draw some lines quick to clear this up. |
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Davyd05
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July 21, 2014, 06:20:38 AM |
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Looks like we're gonna drop under 620 again. Crazy why is the trend of mid summer, crazy? patience, perhaps a vacation But everybody told me we we're going to the moon mid summer. Now it's suddenly normal to go down instead? I think someone needs to draw some lines quick to clear this up. We're all just making guesses ...some lines couldn't hurt. However for me it's all just patience this time around. I was over zealous in the last bubble. I should've sold @ 1000-800 but it was my first couple of months owning bitcoin and I love my bitcoins so much so that dirty fiat profits couldn't lure me...even though I could've re invested them into more bitcoins I know I know I was a noob. |
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Newbie1022
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July 21, 2014, 06:26:13 AM |
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Looks like we're gonna drop under 620 again. Crazy why is the trend of mid summer, crazy? patience, perhaps a vacation But everybody told me we we're going to the moon mid summer. Now it's suddenly normal to go down instead? I think someone needs to draw some lines quick to clear this up. I think we are seeing softness, today (specifically), due to concerns about the Bitfinex deleveraging policy change (notice the asymmetry in their order book, and, to a lesser extent, on BTC-e. Thus, while China is normally the driver and Bitstamp a secondary driver, the concern over a liquidation event seems to be keeping everybody in check. Once today passes (like many of the imagined dark clouds), we should get some strong upward movement. Note also, in looking at the Bitfinex order book that those are people who have been involved in Bitcoin already who know about it and there are literally tens of millions of dollars placed on extremely short bids (10% or more below market) in hopes of catching a flash crash, today. Frankly, it is absolutely f---ing amazing the price is as robust as it is. I thought we'd be skirting 600 by today (and I also think we may be at 700 by the end of the week). |
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WillyBTC
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July 21, 2014, 06:26:19 AM |
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Some buying on Huobi and BTC-E. Bounce time?  |
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Newbie1022
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July 21, 2014, 06:30:43 AM |
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Some buying on Huobi and BTC-E. Bounce time? It's a trap. Boom time is coming... for at least another 18 to 36 hours, though (at the earliest). Until then, grab a novel!!! |
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