|
420
|
 |
May 05, 2013, 04:24:49 AM |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The forum strives to allow free discussion of any ideas. All policies are built around this principle. This doesn't mean you can post garbage, though: posts should actually contain ideas, and these ideas should be argued reasonably.
|
|
|
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
|
arepo
Sr. Member
 Offline
Activity: 448
Merit: 250
this statement is false
|
|
May 05, 2013, 04:25:46 AM |
|
bearish wedge coming to a close right now. midnight dump? |
|
|
|
|
seleme
Legendary
Offline
Activity: 2716
Merit: 1028
Duelbits.com
|
|
May 05, 2013, 04:25:47 AM |
|
rpietila is from Finland, it's close but it's still not Denmark  |
|
|
|
|
Richy_T
Legendary
Offline
Activity: 2128
Merit: 1942
1RichyTrEwPYjZSeAYxeiFBNnKC9UjC5k
|
|
May 05, 2013, 04:33:53 AM |
|
To me, the shallowness of the slope on the "bid" side tells me that the market is headed downward soon. As bitcoins are bought and sold regularly, the fact that the "ask" side is so much higher than the "bid" side means that it is going to take more trading to move is up. The gap will always close, and more than likely both sides will move equally, basically, so the price will move down... Is my thinking generally correct?
TL;DR- Am I correct in thinking that if the slope of the ask side is > bid side then the market is generally headed downward and vice versa?
On the way down, the bid side was pretty steep. I think that's a side-effect of it getting eaten into. |
|
|
|
|
Awhut
Newbie
Offline
Activity: 28
Merit: 0
|
|
May 05, 2013, 04:36:30 AM |
|
To me, the shallowness of the slope on the "bid" side tells me that the market is headed downward soon. As bitcoins are bought and sold regularly, the fact that the "ask" side is so much higher than the "bid" side means that it is going to take more trading to move is up. The gap will always close, and more than likely both sides will move equally, basically, so the price will move down... Is my thinking generally correct?
TL;DR- Am I correct in thinking that if the slope of the ask side is > bid side then the market is generally headed downward and vice versa?
On the way down, the bid side was pretty steep. I think that's a side-effect of it getting eaten into. +1 Though I don't think we have the volume to eat 120 anyway so we'll probably see it drop either way. |
|
|
|
|
|
Frozenlock
|
|
May 05, 2013, 04:37:31 AM |
|
bearish wedge coming to a close right now. midnight dump?
Uh? Where? What time period are you looking at? Also, this. is. the. INTERNET! Midnight is meaningless! (Unless you meant UTC  ) |
|
|
|
|
jl2012
Legendary
Offline
Activity: 1792
Merit: 1065
|
|
May 05, 2013, 04:39:01 AM |
|
bearish wedge coming to a close right now. midnight dump? Wedge at what scale? I can't find it |
|
|
|
|
jl2012
Legendary
Offline
Activity: 1792
Merit: 1065
|
|
May 05, 2013, 04:50:00 AM |
|
bearish wedge coming to a close right now. midnight dump? Wedge at what scale? I can't find it 5 min chart. Not a rigid one IMHO |
|
|
|
|
arepo
Sr. Member
Offline
Activity: 448
Merit: 250
this statement is false
|
|
May 05, 2013, 05:01:26 AM |
|
bearish wedge coming to a close right now. midnight dump?
4-hour scale: -===-  |
|
|
|
|
jl2012
Legendary
Offline
Activity: 1792
Merit: 1065
|
|
May 05, 2013, 05:03:11 AM |
|
Why would you call this bearish? The last wedge with a similar shape from 80 to 100 has been proven as bullish bearish wedge coming to a close right now. midnight dump?
4-hour scale: -===- |
|
|
|
|
arepo
Sr. Member
Offline
Activity: 448
Merit: 250
this statement is false
|
|
May 05, 2013, 05:09:23 AM |
|
Why would you call this bearish? The last wedge with a similar shape from 80 to 100 has been proven as bullish bearish wedge coming to a close right now. midnight dump?
4-hour scale: -===- wedges are usually reversal signals, the last wedge was an exception. i tend to try to identify the patterns and then use other data to determine the directionality. William's Oscillator suggests short-term overbought, poising for a slight correction: -===- 10-day hourly scale  -===- also, depth on bitcoinity has a bearish bias. |
|
|
|
|
|
Kazu
|
|
May 05, 2013, 05:11:20 AM |
|
bearish wedge coming to a close right now. midnight dump?
4-hour scale: -===- Dude, thats not how wedges work -.- No steady downtrend of volume and the slope of the center of the opening to the point is basically a trend line. Honestly, at this point people are just drawing lines in places. |
|
|
|
|
arepo
Sr. Member
Offline
Activity: 448
Merit: 250
this statement is false
|
|
May 05, 2013, 05:37:34 AM |
|
No steady downtrend of volume and the slope of the center of the opening to the point is basically a trend line.
the volume pattern is there, and how does the second point invalidate the wedge? |
|
|
|
|
|
samurai1200
|
|
May 05, 2013, 06:19:02 AM |
|
Well... $115 was a previous resistance on May 2 and all day today (-7utc). We've broken through it, but not with much force. I can't see it holding, and for my own sake i hope it doesn't until a revisit on monday or tuesday!  |
|
|
|
|
|
Frozenlock
|
|
May 05, 2013, 06:47:03 AM |
|
That was an interesting dump.
|
|
|
|
|
|
EuroTrash
|
|
May 05, 2013, 07:04:18 AM |
|
That was an interesting dump.
still going it seems a seller dumped... and a buyer saw "cheap coins" and pushed the "market buy" button. Or... or... one was trying to induce a panic sell and one was trying to stop it. Even in a boring Sunday there are at least two people with a spare half million USD to burn. |
|
|
|
|
|
EuroTrash
|
|
May 05, 2013, 07:18:19 AM |
|
1000 BTC wall at 111 was moved up to 111.0001 170 BTC wall at 11.5 removed and reappeared behind the 1000BTC one at 111 I'd love to understand what game are these pro's playing.  |
|
|
|
|
Hailo
Newbie
Offline
Activity: 38
Merit: 0
|
|
May 05, 2013, 07:19:26 AM |
|
Just saw 1200btc sold in one order on bitcoinity
|
|
|
|
|
|
|
|
Frozenlock
|
|
May 05, 2013, 07:23:17 AM |
|
Yup, without any transactions someone is trying to maintain at least a 1 min lag.
|
|
|
|
|
|
Poll
