rpietila Wall Observer - the Quality TA Thread ;)

[MahaRamana]

Flash crash on BTC-E where someone sold BTC as low as 328 USD !

Edit : some people sold as low as 308 USD on BTC-E while the price is 465 on stamp. What a strange exchange.

[1714492403]

1714492403

[1714492403]

1714492403

[devphp]

Not as dramatic as flash crash to $102 in March, but not bad nonetheless.

[ShroomsKit_Disgrace]

I am calling it quits.

That is what i am talking about.

Specially in Btc-e 

[T.Stuart]

I am calling it quits.

Another capitulation.

The catharsis of capitulation didn't happen back in April - overall we were too sure of the next rise.

Can't predict the bottom but at least the psychological unravelling is beginning! 

[maker88]

I am calling it quits.

That is what i am talking about.

Specially in Btc-e 

some people can't take the heat. thats fine, its not for everyone. i hope you don't regret getting out in the future, but either way good luck to you.

[phatsphere]

wow, right now the last one of my long-term "support lines" has been broken.

should i panic?

[Jungian]

wow, right now the last one of my long-term "support lines" has been broken.

should i panic?

Yes! Lets all panic!


I continue my strategy of buying monthly and holding. Only selling for goods and services.

[bitdig]

it is not flash crash
It is exchange manipulation to trigger stop loss on MT4 trading platform with leverage. it is not first time happens, allows exchange to take 85% of the deposits instead of 0.5% of commission....
watch this, it in russian, but watch it from 2:40, "Hunt on stop loss", this is the backoffice of the MT4 platform, allowing to manipulate and trigger stop loss:
https://www.youtube.com/watch?v=p0JInOpEVfw&app=desktop

Flash crash on BTC-E where someone sold BTC as low as 328 USD !

Edit : some people sold as low as 308 USD on BTC-E while the price is 465 on stamp. What a strange exchange.

[molecular]

Flash crash on BTC-E where someone sold BTC as low as 328 USD !

Edit : some people sold as low as 308 USD on BTC-E while the price is 465 on stamp. What a strange exchange.

you are aware btc-e offers leveraged trading and therefore has a thing called "forced liquidation"?

[bigtimespaghetti]

Flash crash on BTC-E where someone sold BTC as low as 328 USD !

Edit : some people sold as low as 308 USD on BTC-E while the price is 465 on stamp. What a strange exchange.

you are aware btc-e offers leveraged trading and therefore has a thing called "forced liquidation"?

Some of that could have been bots too I suppose.

[rpietila]

it is not flash crash
It is exchange manipulation to trigger stop loss on MT4 trading platform with leverage.

This is the most likely explanation. It has happened before and will happen again. If you trust the exchange enough to keep lowball bids there, you can make lotsa money. Being leveraged long is not very good proposition with these liquidation crashes to 102 and 308... 

[klee]

it is not flash crash
It is exchange manipulation to trigger stop loss on MT4 trading platform with leverage.

This is the most likely explanation. It has happened before and will happen again. If you trust the exchange enough to keep lowball bids there, you can make lotsa money. Being leveraged long is not very good proposition with these liquidation crashes to 102 and 308... 

https://pbs.twimg.com/media/BvY4u8uCIAAFLYD.jpg:large

[RandomSeq]

watch this, it in russian, but watch it from 2:40, "Hunt on stop loss", this is the backoffice of the MT4 platform, allowing to manipulate and trigger stop loss:
https://www.youtube.com/watch?v=p0JInOpEVfw&app=desktop

Very interesting educational info, thanks.

[SlipperySlope]

Here is the three-day resolution bitcoin chart from Bitstamp. Prices have rebounded strongly from the support line around $450. Given the increasing quantity of transactions this month, perhaps this is a price trend reversal that will push prices towards $600 again. If that happens, the next resistance would be around $660.

[SlipperySlope]

Here is the one-week resolution chart from Bitstamp. The rightmost green candle is not yet a week old but it appears that the downtrend has reversed . . .

[dEBRUYNE]

Looks like a hammer to me, which is a sign of bulls getting stronger!

More info here:

http://www.investopedia.com/terms/h/hammer.asp

[SlipperySlope]

Looks like a hammer to me, which is a sign of bulls getting stronger!

More info here:

http://www.investopedia.com/terms/h/hammer.asp

I too hope that candle is a hammer, or more generally ends the week at its highest level.

[David Latapie]

^ Agreed that Bitcoin is the way out. But again, this is another in a long train of technologies that have made everyone's lives better. It's just that now we're getting into the really huge ones. Bitcoin, prediction markets, decentralized everything...then in a short while the pace of new tech becomes impossible to comprehend, let alone predict.

aka Technological Singularity?
http://en.wikipedia.org/wiki/Technological_singularity

If you come to Malla, you will have the opportuntity to speak with a board member of the French Transhumanist Association and the International Longevity Alliance. I anticipate great discussions!

[GreekBitcoin]

^ Agreed that Bitcoin is the way out. But again, this is another in a long train of technologies that have made everyone's lives better. It's just that now we're getting into the really huge ones. Bitcoin, prediction markets, decentralized everything...then in a short while the pace of new tech becomes impossible to comprehend, let alone predict.

aka Technological Singularity?
http://en.wikipedia.org/wiki/Technological_singularity

If you come to Malla, you will have the opportuntity to speak with a board member of the French Transhumanist Association and the International Longevity Alliance. I anticipate great discussions!

Damn, i am very interested on those things!

[David Latapie]

Suppose Monero (or a different alt) were to gain enough traction for it to appear inevitable that it would eventually topple bitcoin. How feasible would it be to fork bitcoin to adopt some or all features of Monero? iow, a merger of the first mover advantage of bitcoin with the technical advantages of Monero. I suppose this question has two parts: 1) What would be the technical feasibility of doing this? and 2) Would the community go along?

Damn hard. Ring signature is a beast. Plus, this is not only the technology that must be considered - the human part (involvement/activity/culture of innovation/resistance to inertia) also matters.

Being in the frontline (I am a Monero core team member), I can confidently say that Monero is increasingly becoming more than a special feature (the ring sigs or other).

Hasn't AnonyMint proved that Monero is not truly anonymous, certainly not to a "killer attribute" level? I've seen him tear it apart in a thread on here, and stayed away for that reason.

There is a reason why we use the tagline "secure, private, untraceable". Anonymity is an absolute and we don't live in an absolute universe. Plus, viewkey allows some people of your choosing to know your balance (e.g. public companies, donations...)

Tell us more about Monero, please. I already got 3-4 times more XMR than BTC (in units, not in actual value), and would like to understand it better. Seems awesome on the surface, but will it ever grow beyond the current state? I am willing to risk a bit more on it, as it sounds quite appealing.

Synchronous communication: #monero (or #monero-dev if you are technically minded.
Asynchronous communication: r/Monero (because commands may be upvoted. And later our own website. As well as the Monero Community FAQ.

I am also writing a Monero Handbook which will cater for three audiences (general public, crypto-enthusiasts, dev). I won't be published in the next weeks, but any question you'd ask could help me make ist better fulfill its goal.

Thank you ArcticMine for your post. Anyone curious about Monero, read his post.