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Author Topic: somebody pulled the flush yesterday  (Read 503 times)
Slow death
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July 09, 2019, 08:09:51 PM
 #21

the interesting part is that such trends keep repeating every now and then counting on the weak hand panics to fill the gullet of the whales...


People are buying to make a profit, when they go back to the past and look at the scenario where the price increased to $19000 and in a few months fell to $3000? are expected the panic sell. every time the price increases much higher than $ 12500, people will be watching with fear, only if the price stabilizes for a long time above $ 12500 can create confidence in people

now that we are rid of them, price is back to normal again.

but if the price increases a lot to $18000 for example, in a few hours we will see the same thing happened when the price reached $13700
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July 09, 2019, 08:22:51 PM
 #22


weak hands are never going to go out of the market completely. their numbers shrink at times like the one i posted here because they panic but after a while all these panic sellers choose one of the following:


Honestly the market will never runs out of supply of weak hands.  There will always be a new uneducated (about bitcoin) investors to come in and invest in Bitcoin.  These are people that were driven by hyped, blinded by greed that they will get rich overnight.  The current percentage of  Bitcoin people are still a small fraction of the total global population.  Meaning there are still lots of supplies of these weak hands. 

- either they finally learn about the mistakes they have been making and stop being such a panic head

it would be best if they learned from their mistake and make it a stair step to finaly get profit in Bitcoin market.

- or they lose enough money to discourage them from coming back but until then they will FOMO buy after price went back up.

Sadly others just quit and never came back.

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July 09, 2019, 10:00:36 PM
 #23

I think without whales we would still swim around 3k ish levels. God bless them (when) they help moving the market up.
Indeed, a blessing in disguise and they are working hard to get more profit and the benefit of that in the whole market, the price becomes more expensive. Some are thankful but some are trap on the top, maybe they don’t know how to ride with the whales.
It is really hard to find who's flushing it but that was not a surprise for us cause it happens already before and its gonna be happening again and again.
Let us forget what whales did before but let have enjoyed the market today. Have this pump will continue and never be get affected by weak hands who started throwing their BTC to make a profit by now.

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July 09, 2019, 10:07:46 PM
 #24

Quote
i find it interesting when certain market behaviors keep being repeated. specially the obvious ones. for example in the past 48 hours we had a market flush that cleaned the market from weak hands and whales got bigger thanks to their panic sells. the interesting part is that such trends keep repeating every now and then counting on the weak hand panics to fill the gullet of the whales...

The same people who panic-sold at sub-$10k levels were most likely the ones that bought at the height of the short term rally at $13k+. You're definitely right in the sense that it essentially drives weak hands out, which in itself presents a possibility for long term investors to accumulate at below trend average prices.

I believe that short term cycles like these are imminent. Whilst it could take some time for a certain part of the cycle to actually come into play, if prices are growing at an unsustainably high rate over the short term (like it did with the rally from $7k to nearly $14k within weeks), the correction will be a matter of time.

I think that we're still somewhat consolidating though. Markets seem to be still quite subdued despite the recovery, and looks to consolidate further at the $12-13k corridor for a few more days before a likely upward move to re-test the $14k resistance.

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July 09, 2019, 10:19:19 PM
Last edit: July 09, 2019, 10:44:44 PM by STT
 #25

The market seems to just keep repeating itself like a spincycle on a washing machine, shaking off short term orders and eventually finding the most reliable and probably highest volume to support the price up or down from here.

I think the smart game to play is to identify the range early on so maybe 13k to 10k in this latest action and then just be more bearish at the top then the bottom where you either close or go long again.     After it eventually leaves the range you can buy back if need be .      All this trading does require alot more attention, I find it tiring and a bit stressful.   I would prefer to swing trade personally

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July 09, 2019, 10:27:40 PM
 #26

The market seems to just keep repeating itself like a spincycle on a washing machine, shaking off short term orders and eventually finding the most reliable and probably highest volume to support the price up or down from here.

I think the smart game to play is to identify the range early on so maybe 13k to 10k in this lastest action and then just be more bearish at the top then the bottom where you either close or go long again.     After it eventually leaves the range you can buy back if need be .      All this trading does require alot more attention, I find it tiring and a bit stressful.   I would prefer to swing trade personally
For shorting or active scalps then it is really stressing out but for swing ones then this is much i do prefer same as yours.
For people who have been here for at least 6months to 1 years would definitely be familiarized on how this market works or moves.
Dumps like these are none shocking things.

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July 09, 2019, 11:18:49 PM
 #27

Thus it looks the final run is going to happen?
Setting into another huge jump yesterday will link into my mind that people aren't selling it low but keeping their BTC at their hands instead. As we look into another bull run, it is an absolute help to the market. But might FOMOing will soon to rise in the coming days.

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July 09, 2019, 11:22:53 PM
 #28

I think the smart game to play is to identify the range early on so maybe 13k to 10k in this latest action and then just be more bearish at the top then the bottom where you either close or go long again.     After it eventually leaves the range you can buy back if need be .      All this trading does require alot more attention, I find it tiring and a bit stressful.   I would prefer to swing trade personally
I honestly find this whole bull trend to be tiring in terms of the time and effort put into a trade that might or might not turn out to be profitable, and that while simply hodling has been giving people an easy and comfortable ride up.

There are always those who sell or place a short to get back in lower, then get surprised by a green candle and don't change their game plan because they don't want to close at a loss.

Most people aren't made for trading yet continue with it because it's either addictive, or people desperately try to gain back whatever they lost with the last couple of trades. In both cases it mostly doesn't end well.
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July 09, 2019, 11:44:58 PM
 #29

Most of us are heavily bound to FIAT currency in our incomes and BTC is outside that.   It makes more sense to go long then short, however a short could be a hedge to future value of BTC received.   Its really easy to mess up any reasonable strategy, the dynamic of the market can change as Japan and Asia wakes up and decides it has a different plan for BTC today.   So you were right in the americas hemisphere but wrong now Asia has its say.   Right this moment its about to be 8am on the trading day so I do think we get the mood of Asia for possibly another 12 hours
 
I think this fight between different spheres of influence is part of why we keep getting pulled back and forth in a tug of war.   I really struggle to discern who has the greater volume genuinely behind them to win, there does seem to be enough sellers in this area to keep it waiting for a while longer.   My theory was if we go sideways too long, we slip off the upward trend but if anything its being pushed up above trend not below.

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July 09, 2019, 11:51:49 PM
Merited by Red-Apple (1), exstasie (1)
 #30

The reason why these huge dumps and wicks happen and then it reverses because people are way over-leveraged. Look at the Bitmex OI which is now over $1 billion, it was never this high before (not counting last week)

So there are way too many people bullish and they are also over-leveraged and this is why a small $100-$200 dump can lead to a larger $600 dump.

There is a website which actually shows you this,
https://tensorcharts.com/u/bitmexstats

Look at the Open Interest and look at the price and you will see what I mean.

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July 10, 2019, 04:18:23 AM
 #31

Thus it looks the final run is going to happen?
Setting into another huge jump yesterday will link into my mind that people aren't selling it low but keeping their BTC at their hands instead. As we look into another bull run, it is an absolute help to the market. But might FOMOing will soon to rise in the coming days.

nah, we are fresh out of FOMO buyers for the time being. they just did their panic buys when we initially went above $10k and reached a high price at $12k IIRC and then with the correction that we had right after it, they panic sold and are currently out.
in these cases the FOMO usually happens after the price had risen a little bit more and is showing signs of breaking next resistance. they FOMO buy after that resistance was broken so in this case it will start probably somewhere around $13.5k.

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July 10, 2019, 08:17:27 AM
 #32

Thus it looks the final run is going to happen?
Setting into another huge jump yesterday will link into my mind that people aren't selling it low but keeping their BTC at their hands instead. As we look into another bull run, it is an absolute help to the market. But might FOMOing will soon to rise in the coming days.

We are trying to break the $13k barrier again, remember the last time we touch it, we didn't even last, in less than 24 hours, the price dip, indicative there people are simply trying to book for their profit. Of course FOMOing will always be there, but they are inexperienced, that's why they panic when the price seems to go down and seeing their portfolio losses in relation to USD, they simply pull the trigger.

So it's going to cyclical, more FOMO, wise investors book their profit. So let's see if they FOMO at $13000-$13500. But then I wouldn't surprised if we see another pullback after that.

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July 10, 2019, 10:53:41 AM
 #33

So it's going to cyclical, more FOMO, wise investors book their profit. So let's see if they FOMO at $13000-$13500. But then I wouldn't surprised if we see another pullback after that.

It's a good thing to face resistance around these levels because that means people are unloading their coins, which will make a further increase afterwards easier because their bags will either remain empty or they will re-accumulate to not miss out. I'm confident that the bulls will be able to absorb the selling without too many problems.

The last time we saw a spontaneous dump was on Bitstamp which triggered them to start an investigation, which I'm sure is enough to scare off whales trying to do it another time. It's a bit messed up to be honest, because if someone wants to dump a lot of coins then so be it, it's a free market, but Bitstamp thinks otherwise. Roll Eyes

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July 10, 2019, 11:34:25 AM
 #34

Ain't no surprise for a sudden drop may follow after a short pump. This is eventually happening as weak hands lose their BTC and the start of FOMO.
Just one thing to send them(weak hands) is that never pull the trigger too early, let the price may move farther and we all got benefited with this.

But of course, we aren't controlling them and only we just asking for their support otherwise, we can't be seeing another ATH.




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July 10, 2019, 12:04:59 PM
 #35

It's important that you don't FOMO into any trades at the moment either, even though it may seem attractive to just market buy and hope that things continue to go up with the trend we're in. I'm personally setting a few limit buys in the upper $12ks and also in the lower $12ks should we get some bearish movement downwards, which I see as being possible at any moment here. Bulls have really been buying up dips recently, however, and any significant attempts at dumps have been rapidly bought up at the moment. Still can't rule out a liquidation fueled wick down, as OI on BitMEX is so high in USD value and XBT value that this can rip up and down very rapidly.

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July 10, 2019, 02:19:59 PM
 #36

I think they are trying to create a fomo right now. Think about it, first they will sell all their alt and go buy bitcoins with it which will increase the bitcoin price, then the new people who do not have bitcoin right now will see that and buy from them, so they will use that bitcoin to go back to altcoins later on because bitcoin already skyrocketed and then they will make the altcoins go high so the new people that bought bitcoin that missed the biggest increase will start buying altcoin as well and eventually those "new" people will miss both the bitcoin run and altcoin run while the people who are doing it right now will be profiting from it themselves, that is why I think this is a clever setup by the veterans and whales of the market right now.

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July 10, 2019, 06:48:47 PM
 #37

nah, we are fresh out of FOMO buyers for the time being. they just did their panic buys when we initially went above $10k and reached a high price at $12k IIRC and then with the correction that we had right after it, they panic sold and are currently out.

Im willing to bet thats a more reasonable take for the moment, we have made several attempts in this area.  In terms of quick money its been done and played over, markets dont usually simply repeat without variation.   So if the top boundary wont give way, it might move to test the 10k area with more conviction.

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July 11, 2019, 09:05:26 PM
 #38

I think they are trying to create a fomo right now. Think about it, first they will sell all their alt and go buy bitcoins with it which will increase the bitcoin price, then the new people who do not have bitcoin right now will see that and buy from them, so they will use that bitcoin to go back to altcoins later on because bitcoin already skyrocketed and then they will make the altcoins go high so the new people that bought bitcoin that missed the biggest increase will start buying altcoin as well and eventually those "new" people will miss both the bitcoin run and altcoin run while the people who are doing it right now will be profiting from it themselves, that is why I think this is a clever setup by the veterans and whales of the market right now.
That is a possibility since altcoins have been really quiet during this increase in the price, it is true they have gained value against fiat but they have lost value against bitcoin and the dominance of bitcoin is still going up despite the current decrease in the price and it is now at 65.2%, however it is also possible that investors have lost their confidence in altcoins and we will not see an altcoins season now, after all while many are expecting the current bull run to be greater than the last one I do not see all the factors aligned for that to happen.



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July 11, 2019, 10:33:27 PM
 #39

I also believe that manipulators uses this flush or the sudden dump so that panic sellers loses their holdings that will greatly affects the bitcoin price. This is definitely the doings of supply and demand and also i dont like those people who just comes here because of the hype and quits after losing to the flush.

  Just let it happen mate, we're out of control on that scenario that suddenly blasted yesterday. Although some holders tend to panic, but some we're able to buy and take good opportunities to hold Bitcoin. It's their decision to sell and get their profit and even if btc price declined, that's another good signs to obtain another surges which makes price became consistent.

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WinslowIII
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July 11, 2019, 10:38:21 PM
 #40

Pull the flush - I like that. Makes me visualize weak hands and short term speculators being flushed down a toilet lol.

https://www.youtube.com/watch?v=_-8j8c7iL3E
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