Third time is the charm, shorters failed yet another time

[bbc.reporter]

@pooya87. There might be a fourth time hehe. There might also be many people that might say I am antagonizing again, however, the resistance near $50k is very strong. There is also a bearish divergence. This might imply another dump before it can pump, I reckon.

[1714563922]

1714563922

[1714563922]

1714563922

[1714563922]

1714563922

[1714563922]

1714563922

[adaseb]

I've been following these BTCUSDSHORTS for a while and I am still puzzled to this day why they opened and closed them a few days later. Was it an actual short and not some delta neural move ( short on one exchange and long on another)? Hard to tell.

Did they make money, looks like they did however very little in terms of %'s. Seemed very risky to open such a big short on a medium type of exchange (in terms of volume) and get short squeezed badly.

Its possible that they did this to get media exposure and get many traders to follow their lead and short and they had longs open on another exchanges. So they just wanted to create liquidity and get their longs filled. Looks like there were huge dumps shortly after which were filled pretty quick and price rebounded.

[pooya87]

It doesn't look to me that they "truly got REKT" during this third wave.

This wasn't all about making profit, although many of them did indeed lose a lot of money in each of these spikes. This was all about pushing the price below $30k and crashing the market further as panic sells follow.
Also as the charts show all the drops are mainly happening because the "borrowed bitcoins" are being dumped on the market not because it is naturally going down. So this was a failed attempt where they wasted nearly 3 months and millions of dollars without any results.

[leea-1334]

@pooya87. There might be a fourth time hehe. There might also be many people that might say I am antagonizing again, however, the resistance near $50k is very strong. There is also a bearish divergence. This might imply another dump before it can pump, I reckon.

It all depends on how US reacts today I guess when us Asians close down and they take over,,, take profits easy a 47.5? Or buy in more in wait for the reverse to happen and 50k onwards?

The best thing about the dumps now is they are not even 5% losses at the time being, which is totally incredible if you think about it:)

[bbc.reporter]

@leea-1334. I reckon if the downward volatility is beginning to give you a bad day, you should reduce your position hehe. However, what do you do to those profits if the market remains a bull market? If reinvesting I would suggest look into the projects in the Solana ecosystem. They presently appear to be having the strongest pumps.

[pooya87]

projects in the Solana ecosystem. They presently appear to be having the strongest pumps.

There are always a ton of shitcoins that are getting big pumps every day. That has been the altcoin market trend for as long as it has existed. The pumping [scam] groups don't just sit around waiting for some big shitcoin to go up, they go around and select these shitcoins at random every day and pump the hell out of them then take their money and move to the next shitcoin by dumping the old one.

[adaseb]

projects in the Solana ecosystem. They presently appear to be having the strongest pumps.

There are always a ton of shitcoins that are getting big pumps every day. That has been the altcoin market trend for as long as it has existed. The pumping [scam] groups don't just sit around waiting for some big shitcoin to go up, they go around and select these shitcoins at random every day and pump the hell out of them then take their money and move to the next shitcoin by dumping the old one.

I don't think its the pumping groups which are pumping alts like SOL or AXS or SAND. Those coins have large market caps and I just don't think they got enough capital (even with leverage) to be able to pump an altcoin like that. Those groups they generally pump some really dead low volume altcoins. Traders see that it went up 100% in 24 hours and they go chasing it, however thats usually when the pump groups get out.

I think when these coins get pumped its usually some large whales behind the moves. Sometimes they got some insider knowledge that is reviled a few days later and you can clearly see that it got leaked. However its crypto so most likely no regulation into that. So thats when the retail people buy the alt coin and thats when it starts to drop all of a sudden.

[leea-1334]

@leea-1334. I reckon if the downward volatility is beginning to give you a bad day, you should reduce your position hehe. However, what do you do to those profits if the market remains a bull market? If reinvesting I would suggest look into the projects in the Solana ecosystem. They presently appear to be having the strongest pumps.

I am never a trader, my position is always to add,,, and in the sense that dips happen I enjoy them which is why I do not want to see markets go up too fast, because then I do not have enough time to add to my holding haha.

Solana? I will pass thank you:) Show me 10 users and I change my mind:P

[bbc.reporter]

projects in the Solana ecosystem. They presently appear to be having the strongest pumps.

There are always a ton of shitcoins that are getting big pumps every day. That has been the altcoin market trend for as long as it has existed. The pumping [scam] groups don't just sit around waiting for some big shitcoin to go up, they go around and select these shitcoins at random every day and pump the hell out of them then take their money and move to the next shitcoin by dumping the old one.

I reckon similar to the word scam, the word shitcoin is used very lightly on some altcoins that are arguably not shitcoins. I would agree depending on which of the altcoins you would call shitcoins, however.

@leea-1334. I speculate Solana will be the next big smart contract platform after Ethereum and Binance smartchain. It is supported by Sam Bankman-Fried, CEO of FTX, the Binance exchange killer hehehe.

[pooya87]

~
I don't think its the pumping groups which are pumping alts like SOL or AXS or SAND. Those coins have large market caps and I just don't think they got enough capital (even with leverage) to be able to pump an altcoin like that. Those groups they generally pump some really dead low volume altcoins. Traders see that it went up 100% in 24 hours and they go chasing it, however thats usually when the pump groups get out.

I think when these coins get pumped its usually some large whales behind the moves. Sometimes they got some insider knowledge that is reviled a few days later and you can clearly see that it got leaked. However its crypto so most likely no regulation into that. So thats when the retail people buy the alt coin and thats when it starts to drop all of a sudden.

That's true but I was mostly talking about the profit part, meaning if you want to make quick profit from trading altcoins there are dozens of them being selected every day to see massive pumps. There is no need to sit on some arbitrary shitcoin hoping for the big rise.

I speculate Solana will be the next big smart contract platform after Ethereum and Binance smartchain.

The only reason why ETH got big was because it suddenly provided an easy way for scammers to create garbage and sell it for millions. This is not something that can be repeated which is why all the subsequent smart contract platforms couldn't become big even those that don't have the fundamental flaws of shitherium.
Binance coin is also hyped because there is a multi million company pumping it and creating incentive for the users to buy this centralized altcoin.

... in any case we are now going off-topic

[bbc.reporter]

@pooya87. This might be another argument for another dump that will be traded by shorters. The volume is declining which I speculate this pump might only be a manipulated move by shorters to prepare bitcoin for another dump. This is only my speculation, I am not antagonizing.



In any case, on your comment about Ethereum, Binance or Solana, I reckon it is very arguable if you say it only got big because of scams. Scam is a word that is very lightly used in the cryptospace by maximalists when they describe coins that is not bitcoin. Some of the projects might be scams, however, the technological development is not a scam. They might be misunderstood.

[pooya87]

@pooya87. This might be another argument for another dump that will be traded by shorters. The volume is declining which I speculate this pump might only be a manipulated move by shorters to prepare bitcoin for another dump. This is only my speculation, I am not antagonizing.

I don't like using volume as an indicator, it is always wrong in my experience.
In any case the drop already happened during the past couple of days trapping the bears who refused to change their stance. Going back to $47k is a good sign that the upward momentum is still very strong.
I also don't see any big spikes in number of shorts to indicate shorters are preparing for anything. I think they lost enough to be discouraged to do so.

Some of the projects might be scams, however, the technological development is not a scam.

Could you show me some "tokens" that "developed" any "technology"?!!!

[Devifajarina]

We will probably see another of this shorters commit suicide because they shorted the price at the wrong time. I just hope that anyone can profit out of all the situation in the prices. Also, the shorters probably didn't have in their calculations added that Elon and Dorsey's talks would make a good effect to the market.

Big effects will happen if they don't stop this greed, it will affect the state of bitcoin, the market and the condition of any altcoin, although for bitcoin it doesn't have much or big effect.

I'm still wondering at this time, is it true that Elon Musk and Dorsey's big influence can make certain crypto or coins go up or down, at this time I don't have a definite answer, even many people say it's just based on their own thoughts.

[bbc.reporter]

@pooya87. This might be another argument for another dump that will be traded by shorters. The volume is declining which I speculate this pump might only be a manipulated move by shorters to prepare bitcoin for another dump. This is only my speculation, I am not antagonizing.

I don't like using volume as an indicator, it is always wrong in my experience.
In any case the drop already happened during the past couple of days trapping the bears who refused to change their stance. Going back to $47k is a good sign that the upward momentum is still very strong.
I also don't see any big spikes in number of shorts to indicate shorters are preparing for anything. I think they lost enough to be discouraged to do so.

Some of the projects might be scams, however, the technological development is not a scam.

Could you show me some "tokens" that "developed" any "technology"?!!!

I reckon similar to how bitcoin has developed a concept of money created and issued without the regulators’ permission, the concept of Defi currency coversions and store of value concepts on NFT might be new technological developments that can be positive.

In any case, we are off topic.