The invisible Stamp wall at 560

[EuroTrash]

... and the real 2k wall at 550.

Since a few hours every time we drop close to 560, big buys happen. I speculate that the owner of the 2k wall at 550 is in fact the buyer by classic by-the-book wall manipulation. Let's see how long it will last ad what happens when he's done... the result is not certain at all: depending how much dry powder he has, he could as well create enough momentum for an uptrend that he'll later want to play downwards.



Thoughts?

[1715086389]

1715086389

[smoothie]

I think too much credit is given to "whales"....may as well call them unicorns.

[zoinky]

SSDD

[MatTheCat]

Chart is developing in such a manner that might suggest me being shaken out of my short position

....But looking at the huge crash, followed by the rapid 85% retracement, it would be highly unorthodox for Bitcoin to push on and breach the 610 top from here. TA 101 would suggest that Bitcoin needs to succesfully test its low before confirming trend reversal.

am tempted to call the market movements out as a bull trap, but will have my finger on the trigger incase I am proved wrong.

[podyx]

Chart is developing in such a manner that might suggest me being shaken out of my short position

....But looking at the huge crash, followed by the rapid 85% retracement, it would be highly unorthodox for Bitcoin to push on and breach the 610 top from here. TA 101 would suggest that Bitcoin needs to succesfully test its low before confirming trend reversal.

am tempted to call the market movements out as a bull trap, but will have my finger on the trigger incase I am proved wrong.

nice to see the bull in u mat

[jamesc760]

MTC is developing into a trust-worthy analyist for me.

[podyx]

MTC is developing into a trust-worthy analyist for me.

lol same, i appreciated his posts like a month ago to

it seems that he had have his period or something for a while

[zby]

Chart is developing in such a manner that might suggest me being shaken out of my short position

....But looking at the huge crash, followed by the rapid 85% retracement, it would be highly unorthodox for Bitcoin to push on and breach the 610 top from here. TA 101 would suggest that Bitcoin needs to succesfully test its low before confirming trend reversal.

am tempted to call the market movements out as a bull trap, but will have my finger on the trigger incase I am proved wrong.

It looks like it should bounce hard - but the MtGox news are not over yet.

[MatTheCat]

Also on subject of whales manipulating Bid Strength/Bull Trap in order that they can capitalise by selling their coins at as high a premium as possible before inevitable retracement...

....This 'break out' was initiated on BTC-e. Not a place I trust at all and don't imagine for a second that it would be beyond whale friends of the exchange, to arrange a little price massaging. Either that or some exchange insiders were merely farming a big bunch of stop losses, as the break out on BTC-e was off the fkn scale of common sense.

But because most trading is done by bots and they are wired up to price action across all the main exchanges. A break out on one is generally followed by correlating price action on the others.

It would make absolutely no fucking sense for large volumes of capital to go piling into Bitcoin right now at $580. Every textbook and historical trading example in the land is pointing towards a strong retracement and a final successful test of the bottom, should this turn out to be the trend reversal and $400 the final bottom.

Mind you, this is Bitcoin and I have been caught out before by sudden retarded break-outs (most of which ended up being pure bag-holder positions). There be heaps of fkn dumb money in this market.

[Rawted]

SSDD

i, duditz.

[UnDerDoG81]

I think/hope we will go under 500 in 8-10 hrs.