Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[billyjoeallen]

PATTERN BETTING

I dunno who the heavy hitter(s) is/are, but they've become very predictable.


If the Four Punch Raiders are still in control of this market (I think they prolly are), we're going to see a long squeeze before the next short squeeze. Even if you are margin long, make it an ass-load of margin. With cascading margin calls and forced liquidations (such as at $400, $340, and $275), I would make sure your long liquidation price is at least as low as $200 and prolly a little more just in case. Remember, all you have to do is survive the long squeeze, go full-on stupid margin long after the bottom, ignore or slightly trade the pause and then wait for the short squeeze to close your long, go margin short, don't fall for the second bounce, ride the next crash and then cover at a price slightly higher than the previous low (I'm guessing ~$222), withdraw10 percent of your profits to pay for hookers and blow, put in a bunch of bottom-feeding limit orders under that, rinse and repeat.

These guys could easily be doubling up every time the pattern repeats and it has repeated four times so far.  That means they have ~16 times as much market clout as they did when they first crashed the market.  

PATTERN:
CRASH (long squeeze)
BOUNCE
PAUSE (fake rally then fake crash)
SPIKE (short-squeeze)
SECOND BOUNCE
Complete dissipation of all upward momentum.

We are in the crash phase.

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[adaseb]

WOW! Pretty much a classic support becomes resistance in the last move. I feel bad that I didn't short it there.

[JamesBrown]

PATTERN BETTING

I dunno who the heavy hitter(s) is/are, but they've become very predictable.


If the Four Punch raiders are still in control of this market (I think they prolly are), we're going to see a long squeeze before the next short squeeze. Even if you are margin long, make it an ass-load of margin. With cascading margin calls and forced liquidations (such as at $400, $340, and $275), I would make sure your long liquidation price is at least as low as $200 and prolly a little more just in case. Remember, all you have to do is survive the long squeeze, go full-on stupid margin long after the bottom, ignore or slightly trade the pause and then wait for the short squeeze to close your long, go margin short, don't fall for the second bounce, ride the next crash and then cover at a price slightly higher than the previous low (I'm guessing ~$222), withdraw10 percent of your profits to pay for hookers and blow, put in a bunch of bottom-feeding limit orders under that, rinse and repeat.

These guys could easily be doubling up every time the pattern repeats and it has repeated four times so far.  That means they have ~16 times as much market clout as they did when they first crashed the market.  

PATTERN:
CRASH (long squeeze)
BOUNCE
PAUSE (fake rally then fake crash)
SPIKE (short-squeeze)
SECOND BOUNCE
Complete dissipation of all upward momentum.

We are in the crash phase.

Who are the Four Punch raiders and how do I go margin long under present conditions?

[Blazin604]

Lol, do you know how bitcoin works on even the most superficial level?

I know that when the cost of electricity for making a bitcoin is close to 50% of the price of a bitcoin for some, expanding your mining operation by adding more overhead is not really a given, not to mention the cost of the actual HW. And as far as I know, the mining gear developers are reluctant to put all their money into 14/16nm FinFet processes when the prices drop like an anvil. So I was wondering if you have some specific information on why the hashrate would go "way up" anytime soon?

There is another great coin up and coming called Digibyte that will be the day to day currency that can be realistically used. BITCOIN will still be there as gold is to dollars. Anyways check out Digibyte

Watch "DigiByte @ CryptoCurrency Convention NYC 4/9/14 -…" on YouTube - DigiByte @ CryptoCurrency Convention NYC 4/9/14 -…: http://youtu.be/JkWVD8MJlS0

https://bitcointalk.org/index.php?topic=408268.0

Great times for Crypto!!!

Can I mine it?

Yes sir. Watch and read links you will see

Don't know why I ask, Bitcoin and Ethereum are the only cryptocurrencies I see any point in.

I was in the same boat. This is worth looking at is all I am saying. Has great devs behind it and already has a Pc IOS and Android wallet up

[Richy_T]

time to test the theory that the price doesn't matter (It doesn't) but still. Hurts.

Price does matter. If it's too high, adoption stalls.

[cbeast]

[billyjoeallen]

PATTERN BETTING

I dunno who the heavy hitter(s) is/are, but they've become very predictable.


If the Four Punch raiders are still in control of this market (I think they prolly are), we're going to see a long squeeze before the next short squeeze. Even if you are margin long, make it an ass-load of margin. With cascading margin calls and forced liquidations (such as at $400, $340, and $275), I would make sure your long liquidation price is at least as low as $200 and prolly a little more just in case. Remember, all you have to do is survive the long squeeze, go full-on stupid margin long after the bottom, ignore or slightly trade the pause and then wait for the short squeeze to close your long, go margin short, don't fall for the second bounce, ride the next crash and then cover at a price slightly higher than the previous low (I'm guessing ~$222), withdraw10 percent of your profits to pay for hookers and blow, put in a bunch of bottom-feeding limit orders under that, rinse and repeat.

These guys could easily be doubling up every time the pattern repeats and it has repeated four times so far.  That means they have ~16 times as much market clout as they did when they first crashed the market.  

PATTERN:
CRASH (long squeeze)
BOUNCE
PAUSE (fake rally then fake crash)
SPIKE (short-squeeze)
SECOND BOUNCE
Complete dissipation of all upward momentum.

We are in the crash phase.

Who are the Four Punch raiders and how do I go margin long under present conditions?

You shouldn't be margin long right now. I mean IF you are stuck margin long, post a shit-ton of extra margin to keep from being force liquidated, because a lot of people are going to get wiped out soon. If you can't do that, cut your losses by selling enough now to keep the margin call of your leveraged long position UNDER $200.

There will be an extremely high volume crash to ~ $200-$222 followed by a bounce into the high $200s, a side step lower and then a short squeeze. Don't go margin long until AFTER the bottom on the way back up.

[Fatman3001]

YEAH!!! Go Jean-Luc!!!

[Richy_T]

Yeah. Would say that many are mining with loss by now. They simply mine and hold hopping the price will go back up.

That would be silly. It would be better to switch off their equipment and buy bitcoin at that point (and arguably better just to switch off their equipment)

[JamesBrown]

PATTERN BETTING

I dunno who the heavy hitter(s) is/are, but they've become very predictable.


If the Four Punch raiders are still in control of this market (I think they prolly are), we're going to see a long squeeze before the next short squeeze. Even if you are margin long, make it an ass-load of margin. With cascading margin calls and forced liquidations (such as at $400, $340, and $275), I would make sure your long liquidation price is at least as low as $200 and prolly a little more just in case. Remember, all you have to do is survive the long squeeze, go full-on stupid margin long after the bottom, ignore or slightly trade the pause and then wait for the short squeeze to close your long, go margin short, don't fall for the second bounce, ride the next crash and then cover at a price slightly higher than the previous low (I'm guessing ~$222), withdraw10 percent of your profits to pay for hookers and blow, put in a bunch of bottom-feeding limit orders under that, rinse and repeat.

These guys could easily be doubling up every time the pattern repeats and it has repeated four times so far.  That means they have ~16 times as much market clout as they did when they first crashed the market.  

PATTERN:
CRASH (long squeeze)
BOUNCE
PAUSE (fake rally then fake crash)
SPIKE (short-squeeze)
SECOND BOUNCE
Complete dissipation of all upward momentum.

We are in the crash phase.

Who are the Four Punch raiders and how do I go margin long under present conditions?

You shouldn't be margin long right now. I mean IF you are stuck margin long, post a shit-ton of extra margin to keep from being force liquidated, because a lot of people are going to get wiped out soon. If you can't do that, cut your losses by selling enough now to keep the margin call of your leveraged long position UNDER $200.

There will be an extremely high volume crash to ~ $200-$222 followed by a bounce into the high $200s, a side step lower and then a short squeeze. Don't go margin long until AFTER the bottom on the way back up.

So no 200$ Bottom prediction, just this pattern to no end?

I think we're in a "fake crash phase"... Someone is slowly closing his shorts.

Does it really matter? Its not like we are going past 320 anytime soon

[ChartBuddy]

Bitfinex

Bitstamp

Explanation

[Fatman3001]

Yeah. Would say that many are mining with loss by now. They simply mine and hold hopping the price will go back up.

That would be silly. It would be better to switch off their equipment and buy bitcoin at that point (and arguably better just to switch off their equipment)

If you rent space to run the equipment or pay for a hosting service, that might not be a good option.

[billyjoeallen]

I think we're in a "fake crash phase"... Someone is slowly closing his shorts.

There is ~ a 20% chance that $355 will hold on a retest. I hope it does, bit I am not optimistic. I would be closing margin short positions now myself, but I already did that.  Volume tells the story and in my opinion there wasn't nearly enough volume off of the $255 bounce for that to be a true bottom. It will almost certainly be retested and likely won't hold.

I think we have maybe a week until the big crash. Could be sooner, could be longer, could be never, but a good boy scout is always prepared.

[JamesBrown]

Yeah. Would say that many are mining with loss by now. They simply mine and hold hopping the price will go back up.

That would be silly. It would be better to switch off their equipment and buy bitcoin at that point (and arguably better just to switch off their equipment)

Being able to fastly switch off and on at low cost is something easy for the small miner and more expensive for the bigger miner (if not impossible, almost as if he is pushed to  bad decisions and implosion).
Then on the other hand bigger players must hav eexpected this situation, there was even some interview at cointelegraph about that. They also have longer runway.
or maybe Im wrong?

[Richy_T]

I think what this thread needs is a maybe 20 or 30 more trolls and their sock puppet accounts.....
 

I do think it would be interesting if Blitz would have a word with theymos and put up a list of usernames posting from the same IP address.

[Richy_T]

Why all the conspiracy theories...is it possible that there are simply more sellers than there are buyers?

What does this even mean? It's a nonsense phrase and people need to stop using it.

[derpinheimer]

Why all the conspiracy theories...is it possible that there are simply more sellers than there are buyers?

What does this even mean? It's a nonsense phrase and people need to stop using it.

Pretty obvious what it means. Yes, its easy to forcefully misinterpret, but that's your choice.

[billyjoeallen]

So no 200$ Bottom prediction, just this pattern to no end?

The pattern repeats, but it gets flatter each time. It is my hope that by exposing it, there will be so much demand for coins to front-run the pattern that we can stop it, but eventually it has to stop anyway as diminishing returns will have to yield to fundamentals at some point.

We can beat them by joining them and then defecting from the cartel at the most opportune time. This will be on the retest of whatever the new low will be in the low low $200s (AFTER the next cycle).  An extremely rich person can do it now on the retest of $255 support, but I don't have anywhere close to enough clout to even attempt it myself.

[JimboToronto]

...
I try to maintain a balanced outlook, but permabears can be so ridiculous I have to laugh at them.

If permabulls were anywhere near as foolish, I'd laugh at them too.

-Same tired old out-of-context quote from last spring-

Was this book talk?

More like prevailing sentiment at that time.

Kinda like the currently accepted "wisdom" that Bitcoin is destined to fall to double or single digits.

Time will tell.
_______

Trollchop knows I have her on ignore so I can only guess at her feeble attempts to discredit my posts. The fact that she posted this old crap yet again speaks volumes.

Does she still post thorazine ads and make references to incontinence?

LOL Absolutely pathetic.

 

[Richy_T]

Yeah. Would say that many are mining with loss by now. They simply mine and hold hopping the price will go back up.

That would be silly. It would be better to switch off their equipment and buy bitcoin at that point (and arguably better just to switch off their equipment)

If you rent space to run the equipment or pay for a hosting service, that might not be a good option.

Sure, there is an inertia to it.