Can someone explain how the price is so stable all of a sudden?

Quote from: Obi-Wan Coinobi on February 28, 2014, 01:24:06 AM

Can someone explain how the price is so stable all of a sudden? It's like the roller coaster is out of order. Roll Eyes

THIS: (a quote from a post I made in another thread)

" Right now for example, many people believe that the market is in for a text book 66% correction and therefore the short trades are maxed to the full. This has probably determined the recent tight market as sellers cancel out buyers, and exchange associate bots sit and happily knudge the momentum up to farm low risk tolerant traders leveraged short bets, whilst making the odd brief soiree to the lower trend line to farm the longs (yup, I believe BTC-e and Bitfinex are corrupt places and actively practice squeezing of leveraged traders with perfect market knowledge in order to enhance their profits......many of these 'peculiar' huge Bid Walls that appear on Stamp are actually being made on Bitfinex).

What I think is away to happen at the end of this pennant formation is a break up the way, which will squeeze shorts out of the trade further pushing price higher and which will turn out to be a bull trap of sorts. Longs will pile in, and then will come the dumps, forcing a correction, but only down to around the $550 level where the dumpers will be competing to get back in and take their scumbag rat bastard profits. I just don't feel $400 range Bitcoin occurring anytime soon and think the near-medium term trend from here is mostly up. However, in light of TERA's pointing out the odd indicator signals of this particular crash, I do believe that we will be visiting the $400 range and possibly lower before we see any ATHs.

Fuck Gox and all those other stories that are attributed to price movement. Bitcoin is behaving like it is because it is being fucked with by people who are milking it for everything they can get out it. I am turning bullish for the time being, but long term, I am still a bear and believe lower lows are yet to come some ways down the line. Bitcoin doesn't flash crash to make its final capitulation bottom and then almost recover within one day. This just does not feel like a low to me. Too much euphoria and back slapping going on for that. Even I predicted 'bottom' within $20 (too low unfortunately for me) weeks and weeks ago using the most rudimentary TA 101 skills. Seems all far too textbook for my liking. I didn't follow Bitcoin so closely until November 2013, but I am pretty sure that with the last two post bubble bear trend lows, that people actually involved in Bitcoin felt like the end was nigh.

We will see how things go when we get back up to the $800 level."

The market wants to go down, but some whale entities aren't letting it. Short sellers are building up, and they will have their asses squeezed by a manipulated break out which will also be a bull trap, before a correction down to mid $500s.

This is what I believe and what I am betting on.