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Author Topic: Market has peaked, sell off incoming.  (Read 13483 times)
Tzupy
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August 01, 2013, 08:58:41 AM
 #81

The market is slowly going down, the bid sum / ask sum is slowly going down, so unless a 'savior' buys some 3k BTC and reverses the trend,
we'll soon have a whale dump or panic sale, whichever comes first. The question is, will it stop at the 101 wall or not?

Sometimes, if it looks too bullish, it's actually bearish
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barbs
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August 01, 2013, 10:08:18 AM
 #82

Bitcoin does what it wants. I just sold a few at 105.3 and she's up to 106.2.  I'll let you know when I buy back, thats' when the trend usually reverses Smiley
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August 01, 2013, 10:12:46 AM
 #83

The market didn't get the memo yet, but we should be at 103 - 104, and instead we breached 107.

Sometimes, if it looks too bullish, it's actually bearish
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August 01, 2013, 10:13:48 AM
 #84

The market didn't get the memo yet, but we should be at 103 - 104, and instead we breached 107.

what does that even mean lol
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August 01, 2013, 10:17:50 AM
 #85

.. I'll let you know when I buy back, thats' when the trend usually reverses Smiley
I've just sold @107. Please buy back now  Wink

"Unser Problem ist nicht ziviler Ungehorsam, unser Problem ist ziviler Gehorsam."  - Howard Zinn
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August 01, 2013, 10:25:31 AM
 #86

If it is still impossible to withdraw USD from Gox, the BTC/USD can only go up.

The sooner they get their shit together, the sonner we will have a clear market picture. Now the market is driven by people Leaving Mt Gox for good.

vokain
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August 01, 2013, 10:33:55 AM
 #87

i'm surprised mtgox prices haven't gone up even more than it has

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Chang Hum
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August 01, 2013, 10:48:45 AM
 #88

If it is still impossible to withdraw USD from Gox, the BTC/USD can only go up.

The sooner they get their shit together, the sonner we will have a clear market picture. Now the market is driven by people Leaving Mt Gox for good.

^ this wouldn't be surprised by a steep rise over the weekend.
notme
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August 01, 2013, 11:26:37 AM
 #89

If the bears can hold it here a bit longer we should have a decent move down fueled by the 2 hour goomboos to complete C of the correction.  Or we could just head up from here Wink.

Bear fail.

https://www.bitcoin.org/bitcoin.pdf
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Tzupy
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August 01, 2013, 06:31:30 PM
 #90

Bear fail, eh? Check the bid sum / ask sum again, then you may reconsider your opinion.
IMO we are going to have a major dump very soon, down to 101, maybe even back to double digits
if panic sale follows the dump. I moved my buy order from 101 to 96, just in case.

PS. I was wrong about the dump, the slide to 103 was slow and uneventful, followed by a trend reversal.

Sometimes, if it looks too bullish, it's actually bearish
Tzupy
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August 02, 2013, 03:35:02 AM
 #91

Irony: I cancelled my buy order at 101.01, because of the trend reversal I spotted, bought at 103.85, then went to sleep,
hoping that the market won't slump to 101 out of inertia. When I woke up, surprise, it did. The price right now, at 102, is
what I would expect from the bid sum / ask sum ratio. Yet we don't have a clear trend reversal, but if no one panic sells
the uptrend should resume soon. BTW, I'm ready to sell into that meager 7k BTC wall at 101 if I see others doing it a lot.

Sometimes, if it looks too bullish, it's actually bearish
notme
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August 02, 2013, 05:24:27 AM
 #92

Bear fail, eh?

You are right, I jumped the gun.  The bears were just late to the party.

https://www.bitcoin.org/bitcoin.pdf
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Tzupy
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August 02, 2013, 08:01:27 PM
 #93

I have a feeling that tonight the buy wall at 101$ will get tested (the 103.15$ wall will be eaten).
Lets hope it holds, if not we'll have a panic sale tomorrow morning, instead of the usual small whale buy.

Sometimes, if it looks too bullish, it's actually bearish
vokain
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August 02, 2013, 08:07:18 PM
 #94

I have a feeling that tonight the buy wall at 101$ will get tested (the 103.15$ wall will be eaten).
Lets hope it holds, if not we'll have a panic sale tomorrow morning, instead of the usual small whale buy.

bring it on

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Tzupy
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August 03, 2013, 01:00:18 PM
 #95

I forgot about the low volume on weekends, so I was obviously wrong about the timing of the drop.
But the wall at 103.15 got chewed at, then got pulled. Makes me wonder if the wall at 101 won't be pulled if it gets chewed at.
That's why I cancelled my buy order at 101.0x, the market will definitely drop to 101 and if the wall gets pulled, IMO it's going to
trigger a panic sale. Then we might drop to 95-96. What do you think, will the 101 wall be pulled?

Sometimes, if it looks too bullish, it's actually bearish
notme
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August 03, 2013, 03:42:43 PM
 #96

Are we seriously talking about $2 wiggles?

Yep, and it's all based on whales and walls.

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
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Tzupy
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August 03, 2013, 03:55:06 PM
 #97

I'm no whale, and in the past whales and walls made me lose money, now they help me make some money.
If I would only look at TA indicators, I would miss many opportunities. So for me whales and walls are important.

Sometimes, if it looks too bullish, it's actually bearish
derpinheimer
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August 03, 2013, 04:46:27 PM
 #98

They are not doing this to profit few pennies but to profit few tens percentage. They do not need to buy back in one day, they can buy back in 1 month when price will be lower xy%.

lol, exactly. If the market worked that way, the price would barely move..
Tzupy
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August 03, 2013, 06:40:59 PM
 #99

I suppose every ecosystem needs scavengers. Just be careful not to get stepped on.

if( ( chodpaba == WHALE ) && ( Tzupy != WHALE ) )
chodpaba_comment = NORMAL ;
else
chodpaba_comment = WEIRD ;

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August 03, 2013, 07:34:56 PM
 #100

chodpaba is one of they few fellow traders who I expect to be pretty wealthy by now, but the way he posts now it seems it got to his head. (Sorry dude!)

First they ignore you, then they laugh at you, then they keep laughing, then they start choking on their laughter, and then they go and catch their breath. Then they start laughing even more.
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