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virtualfaqs
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January 17, 2014, 10:51:19 PM |
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I would realy laugh, if after selloffs and rebuys in the western exchanges (for nothing), china wakes up and starts to sell hard.  Massive Mtgox Support wall of 661 @ $875. Probably fake but we'll see. If Huobi hits 4.600 after waking up that wall will probably be destroyed instantly. |
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dgarcia
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January 17, 2014, 10:58:57 PM |
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I would realy laugh, if after selloffs and rebuys in the western exchanges (for nothing), china wakes up and starts to sell hard. Massive Mtgox Support wall of 661 @ $875. Probably fake but we'll see. If Huobi hits 4.600 after waking up that wall will probably be destroyed instantly. Fake or not. Walls or only hummocks. But realy: I'm the only one on this board who does not know what will happen next ;-) |
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MAbtc
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January 17, 2014, 11:00:37 PM |
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Accurate answer is - there will be no capitulation.
Like I've said, maybe that's the case. But you sound a bit too sure of yourself. I do, as I'm completely sure of it. I'm trading (and losing money mostly recently though) daily, so I am not hodler, I still have some fiat available to buy if it goes down more but I'm 100% sure there's no capitulation this time. This is not 2011, this is not 2013., this is 2014 and we have daily positive news that would cause a huge bubble each time before. There's no capitulation this time, China uncertainty is suppressing price but we're 2-3 weeks away of putting that stuff behind. So capitulation in mid-December 2013 was possible, but not in early 2014? How are you so sure that "China uncertainty" is suppressing the price? How do you feel relative to the last capitulation? Did you expect it then? https://bitcointalk.org/index.php?topic=178336.msg4020758#msg4020758 |
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kurious
Legendary
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Activity: 2590
Merit: 1643
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January 17, 2014, 11:01:08 PM |
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I would realy laugh, if after selloffs and rebuys in the western exchanges (for nothing), china wakes up and starts to sell hard. Massive Mtgox Support wall of 661 @ $875. Probably fake but we'll see. If Huobi hits 4.600 after waking up that wall will probably be destroyed instantly. Fake or not. Walls or only hummocks. But realy: I'm the only one on this board who does not know what will happen next ;-) No you're not  |
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virtualfaqs
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January 17, 2014, 11:02:40 PM |
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I would realy laugh, if after selloffs and rebuys in the western exchanges (for nothing), china wakes up and starts to sell hard. Massive Mtgox Support wall of 661 @ $875. Probably fake but we'll see. If Huobi hits 4.600 after waking up that wall will probably be destroyed instantly. Fake or not. Walls or only hummocks. But realy: I'm the only one on this board who does not know what will happen next ;-) No you're not Whoever knows what will happen next has better things to do than be on this board. |
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aminorex
Legendary
Offline
Activity: 1596
Merit: 1029
Sine secretum non libertas
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January 17, 2014, 11:03:57 PM |
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I thought too much shorting hurt the price in the long run?  Shorts always have to cover eventually, unless it goes to zero, which is obviously impossible. Moreover, unlike futures markets, shorting BTC by proxy does not increase the BTC float. The more the Winklefloss gets shorted, the more demand there is for Winklefloss, and the more BTC they buy, removing it from the market. Only redemptions (if the fund allows them) can free those coins to float on an exchange. |
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deadfi$h
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January 17, 2014, 11:06:05 PM |
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Feels good to sit 100% fiat until the sleeping dragon awakes. I'm guessing selling should resume in about 3 hours.
What if they buy? Option #1 Claim it's a bull trap Option #2 Claim that you rebought at the (insert minimum price market hit after you claimed you sold) Option #3 Go into the shadows and just watch all the CCMF posts Option #4 Rebuy and HODL I would probably wait because that would throw us back into uncertainty. I'm watching for another leg down on the selling but I'm not sure how much we have left before needing to consolidate. I'm all for a raging bull market but that isn't the current situation. Best I can hope for is a raging bear market. I hold no position right now so who cares which way China sends the market? They should wake up in about an hour and have an opinion on the current situation one way or another |
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dgarcia
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January 17, 2014, 11:37:54 PM |
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I would realy laugh, if after selloffs and rebuys in the western exchanges (for nothing), china wakes up and starts to sell hard. Massive Mtgox Support wall of 661 @ $875. Probably fake but we'll see. If Huobi hits 4.600 after waking up that wall will probably be destroyed instantly. Fake or not. Walls or only hummocks. But realy: I'm the only one on this board who does not know what will happen next ;-) No you're not Whoever knows what will happen next has better things to do than be on this board. They all know! You're not reading the comments? Only a few idiots like you and me are admiting that they don't know ;-) |
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hd060053
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January 17, 2014, 11:44:03 PM |
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price will expode after 31.1. - when the fear of the china sell off is over.
i recommend you to not miss this train
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JorgeStolfi
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January 17, 2014, 11:45:35 PM |
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MtGOX has a lot of transactions of 0.01 BTC that bounce randomly in the gap ("spread") between the lowest ask and the highest bid. Here is a short sample, copied earlier today from the Bitcoinwisdom page:  The times are UTC. The blue dots are all the transactions of exactly 0.01 BTC in those ~10 minutes. There are 155 transactions, or about 15 per minute, adding to 1.55 BTC. At this rate, they will add up to 216 BTC per day. The red dots are all the other transactions. The dot's area (above a certain minumum area) is proportional to the transaction's volume; the total volume is ~18 BTC, largest ones are about 2 BTC each. I presume that those "ping-pong" transactions are generated by the exchange itself. I wonder what could be their purpose? To make the spread visible? To avoid empty intervals in the charts? |
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notme
Legendary
Offline
Activity: 1904
Merit: 1002
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January 17, 2014, 11:50:49 PM |
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I thought too much shorting hurt the price in the long run? Shorting is a neutral activity. When you short, you sell now and have to buy back in later within the amount of time you're able to borrow the underlying commodity. The media loves to jump all over shorters because short selling, like any selling, can push the price down. Those same sellers are forced to buy back in though, potentially causing a bounce or creating a bottom, reversing the initial price movement. Traders like me love the ability to short because it allows you to profit regardless of which direction the market is moving. The only thing that matters then is the percentage that the price is moving whether up or down because that is your potential profit. Market looks strong -> buy Market looks weak -> short. Shorting is only helpful when it is profitable. If the shorters are incorrect, it leads to a short squeeze which adds volatility. |
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deadfi$h
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January 17, 2014, 11:56:15 PM |
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I thought too much shorting hurt the price in the long run? Shorting is a neutral activity. When you short, you sell now and have to buy back in later within the amount of time you're able to borrow the underlying commodity. The media loves to jump all over shorters because short selling, like any selling, can push the price down. Those same sellers are forced to buy back in though, potentially causing a bounce or creating a bottom, reversing the initial price movement. Traders like me love the ability to short because it allows you to profit regardless of which direction the market is moving. The only thing that matters then is the percentage that the price is moving whether up or down because that is your potential profit. Market looks strong -> buy Market looks weak -> short. Shorting is only helpful when it is profitable. If the shorters are incorrect, it leads to a short squeeze which adds volatility. True. Some people like volatility though. Isn't that why we're all investing in Bitcoin and not General Motors? |
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seriouscoin
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January 18, 2014, 12:18:20 AM |
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I thought too much shorting hurt the price in the long run? Shorting is a neutral activity. When you short, you sell now and have to buy back in later within the amount of time you're able to borrow the underlying commodity. The media loves to jump all over shorters because short selling, like any selling, can push the price down. Those same sellers are forced to buy back in though, potentially causing a bounce or creating a bottom, reversing the initial price movement. Traders like me love the ability to short because it allows you to profit regardless of which direction the market is moving. The only thing that matters then is the percentage that the price is moving whether up or down because that is your potential profit. Market looks strong -> buy Market looks weak -> short. Shorting is only helpful when it is profitable. If the shorters are incorrect, it leads to a short squeeze which adds volatility. True. Some people like volatility though. Isn't that why we're all investing in Bitcoin and not General Motors?No dumbass, you're not investing shit. Welcome to my ignore, sick of your BS |
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macsga
Legendary
Offline
Activity: 1484
Merit: 1002
Strange, yet attractive.
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January 18, 2014, 12:26:46 AM |
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WARNING!
Legit TA follows: As you can see we have (multiple) bottoms therefore... CCMF!
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seriouscoin
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January 18, 2014, 12:32:25 AM |
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Fake wall, bull trap..... ay yai yai,....
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deadfi$h
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January 18, 2014, 12:32:45 AM |
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True. Some people like volatility though. Isn't that why we're all investing in Bitcoin and not General Motors?
No dumbass, you're not investing shit. Welcome to my ignore, sick of your BS Ugh oh, we've got a purist here. The point still stands though, fast upwards price movement is still volatility. That's why bitcoin has attracted the investors that it has whether short or long term. There's a lot new and exciting about the technology but it wouldn't have gained anywhere near this much traction without the big increases in price aka volatility. |
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Kouye
Sr. Member
Offline
Activity: 336
Merit: 250
Cuddling, censored, unicorn-shaped troll.
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January 18, 2014, 12:33:00 AM |
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WARNING!
Legit TA follows:As you can see we have (multiple) bottoms therefore... CCMF!
And not a single hairy, male bottom.  |
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Vigil
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January 18, 2014, 12:34:22 AM |
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This pretty-much sucks... I've been waiting to buy in since Dec 17th when it hit $455 on Gox. I think we are still in the hysteria from the last price jump. So long as nothing significant is announced, interest will fade again for a short time. At least, that is what I am hoping.
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virtualfaqs
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January 18, 2014, 12:37:11 AM |
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This pretty-much sucks... I've been waiting to buy in since Dec 17th when it hit $455 on Gox. I think we are still in the hysteria from the last price jump. So long as nothing significant is announced, interest will fade again for a short time. At least, that is what I am hoping.
I agree. Dang you supporters!  |
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