European Central Bank
Legendary
Activity: 1288
Merit: 1087
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January 11, 2017, 05:01:01 PM |
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that would be a huge leg, though. 780 is a huge critical point.
this is where the bears have to blow all the powder.
it'll probably slide through it like a flamethrower through butter. bulls are usually ecstatic to roll over at moments like these. |
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ft73
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January 11, 2017, 05:01:32 PM |
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Just one more leg down.
that would be a huge leg, though. 780 is a huge critical point. this is where the bears have to blow all the powder. 750$, even high 600$ can't be ruled out imho. |
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savetherainforest
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January 11, 2017, 05:05:11 PM
Last edit: January 11, 2017, 05:16:18 PM by savetherainforest |
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yonton
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January 11, 2017, 05:06:33 PM |
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I'm convinced that btc investors are the most paranoid people on the planet.
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JimboToronto
Legendary
Activity: 4690
Merit: 6169
You're never too old to think young.
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January 11, 2017, 05:07:47 PM
Last edit: January 11, 2017, 05:37:21 PM by JimboToronto |
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Gotta love this place. Dip down to where we were 3 weeks ago and all the Bitcoin-hating trolls are frothing at the mouth with, "RIP Bitcoin 2009-2017", "Is crypto done", "dead cat bounce", "Ponzi", "China bans Bitcoin", etc. LOL  Meanwhile my fresh Bitcoin has been secured at about $796USD. Unfortunately my off-exchange dude only had 0.8 BTC to sell me. Better than nothing I suppose and I've got a head start at acquiring enough fiat to buy again if the price continues to dip. |
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ImI
Legendary
Activity: 1946
Merit: 1019
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January 11, 2017, 05:09:47 PM |
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Just one more leg down.
that would be a huge leg, though. 780 is a huge critical point. this is where the bears have to blow all the powder. 750$, even high 600$ can't be ruled out imho. I think 600$ will be it. Market seems to be afraid of PBOC like fuck. |
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spooderman
Legendary
Activity: 1722
Merit: 1047
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January 11, 2017, 05:13:20 PM |
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ugh wtf is this.
as someone has pointed out this seems to be very minor news preceding this, so we must have still been overbought as fuck.
OH WELL
see ya weak hands.
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toknormal
Legendary
Activity: 3066
Merit: 1188
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January 11, 2017, 05:13:42 PM |
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This is starting to look like a Gox situation to me.
The Chinese exchanges may be massively over levered and are pushing the price down in order to mitigate their fractional reserve at a lower cost prior to the inspections.
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boyshx
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January 11, 2017, 05:16:10 PM |
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Oh my god.............................
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ImI
Legendary
Activity: 1946
Merit: 1019
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January 11, 2017, 05:16:45 PM |
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This is starting to look like a Gox situation to me.
The Chinese exchanges may be massively over levered and are pushing the price down in order to mitigate their fractional reserve at a lower cost prior to the inspections.
Thats why i am looking forward to a better regulation of Chinese exchanges. They have some decent amount of market-power with lots of shadiness combined. |
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toknormal
Legendary
Activity: 3066
Merit: 1188
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January 11, 2017, 05:18:46 PM |
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Lets see what happens when people start trying to make withdrawals.
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ImI
Legendary
Activity: 1946
Merit: 1019
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January 11, 2017, 05:20:24 PM |
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I am looking forward to real volume data coming from Chinese exchanges.
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Torque
Legendary
Activity: 3822
Merit: 5504
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January 11, 2017, 05:21:53 PM |
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Massive shorting? Dat bounce is going to be UUGE..
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Arcteryx
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January 11, 2017, 05:22:51 PM |
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Lets see what happens when people start trying to make withdrawals.
At that point it could very well be another Mt.Gox event that will unfold. Get your bitcoin ready to sell just before that happens. That could be a devasting effect and heads will explode when that happens. How history tends to repeat itself.  How long did it take for the ATH of $1263 take to start going down? An hour? I would be ready people if I were you!  |
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soullyG
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January 11, 2017, 05:23:04 PM |
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Massive shorting? Dat bounce is going to be UUGE..
Bear trap to end all bear traps? Ah Bitcoin you never fail to be interesting  |
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Tmdz
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January 11, 2017, 05:27:04 PM |
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hifzi
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January 11, 2017, 05:28:48 PM |
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is this the fear level of bitcoin??
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gentlemand
Legendary
Activity: 2604
Merit: 3090
Welt Am Draht
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January 11, 2017, 05:30:20 PM |
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is this the fear level of bitcoin??
Not particularly. It's boredom. Bitcoin traders, you are flighty pussies who need slapping upside the head. If we get another 3 years of nothing I'm spending my BTC on assassinating every single one of them. |
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toknormal
Legendary
Activity: 3066
Merit: 1188
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January 11, 2017, 05:30:57 PM |
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It's the exchanges that are doing it themselves IMO.
Look at Bitstamp - barely moves in comparison. The Chinese exchanges must be short of bitcoin to back their registered deposits. The Gox fingerprint is there. Vertical drop-offs from nowhere and high volume buybacks at the base of each.
Could off-course be regular shorting but the extremity of it suggests otherwise to me. (Well I'm watching Huobi - don't know about the other ones).
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