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Author Topic: The price has bounced right back  (Read 4519 times)
ineededausername
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January 19, 2012, 10:58:28 PM
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After a massive selloff starting at 6.3-6.4, after which over 75k coins were dumped in two installments (45k + 30k), the market has managed to bounce back to.... 6.2.

That's right, 75k coins got us from 6.3 to 6.2.  What a drop!  Wink

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January 19, 2012, 11:03:01 PM
 #2

After a massive selloff starting at 6.3-6.4, after which over 75k coins were dumped in two installments (45k + 30k), the market has managed to bounce back to.... 6.2.

That's right, 75k coins got us from 6.3 to 6.2.  What a drop!  Wink

Not only that but there's now nearly $1.4 million in bids at MtGox.
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January 19, 2012, 11:04:18 PM
 #3

After a massive selloff starting at 6.3-6.4, after which over 75k coins were dumped in two installments (45k + 30k), the market has managed to bounce back to.... 6.2.

That's right, 75k coins got us from 6.3 to 6.2.  What a drop!  Wink

There's no stopping this train now.   Soon enough the shakedown attempts will stop as they become less effective.  That will be the sign that strong hands are holding the coins.

https://www.bitcoin.org/bitcoin.pdf
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waspoza
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January 19, 2012, 11:12:12 PM
 #4

Huge bidwall @5.75 just popped up. Looks like something is starting. Brace yourselves.
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January 19, 2012, 11:15:51 PM
 #5

where are this 75k ? i dont see them on today chart

I see 2x50k bars on the 15 min chart that fits his description.

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January 19, 2012, 11:16:24 PM
 #6

Huge bidwall @5.75 just popped up.
fake wall ?
No idea.
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January 19, 2012, 11:21:53 PM
 #7

That wasn't a dump. It was Bitcoinica re-distributing coins, and even the trigger was a short that got liquidated. It is likely that the same money was traded back into roughly the starting position, at least in my case it was so.

An actual 75k dump right now would remove over 437k USD from the market. I don't think that was the case here, not by a long shot.
ineededausername
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January 19, 2012, 11:33:36 PM
 #8

Huge bidwall @5.75 just popped up.
fake wall ?

of course it's fake.  It's also a sign that the Manipulator is on the bulls' side again Grin

This time, we have the katyushas xD

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January 19, 2012, 11:47:09 PM
 #9

squeeze incoming ?

squeeze up

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January 19, 2012, 11:54:56 PM
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New daily high so it would appear we are on our way up again.
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January 19, 2012, 11:58:27 PM
 #11

The situation is very different to what it was a few days ago. If there is a big squeeze now, it's more likely to be a short squeeze. A long squeeze would be very risky and difficult to attempt without a very large amount of money. Not saying that a short squeeze would be easy either. I don't think a massive squeeze in either direction is very likely tbh. But you never know.

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ineededausername
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January 20, 2012, 12:02:06 AM
 #12

The situation is very different to what it was a few days ago. If there is a big squeeze now, it's more likely to be a short squeeze. A long squeeze would be very risky and difficult to attempt without a very large amount of money.

And this time we really can have a short squeeze, because zhou has set aside funds for it.

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SgtSpike
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January 20, 2012, 12:08:58 AM
 #13

Can someone give a quick explanation of short squeeze vs long squeeze?  Does a long squeeze mean that everyone who is long gets liquidated?
ineededausername
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January 20, 2012, 12:10:36 AM
 #14

Can someone give a quick explanation of short squeeze vs long squeeze?  Does a long squeeze mean that everyone who is long gets liquidated?

yes, causing a chain reaction.. same for short squeeze

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January 20, 2012, 12:11:03 AM
 #15

Can someone give a quick explanation of short squeeze vs long squeeze?  Does a long squeeze mean that everyone who is long gets liquidated?

You got it... just not everyone.  Only those who are overconfident are liquidated.

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January 20, 2012, 12:11:26 AM
 #16

yeah, margin call on their leverage

shorts you can squeeze even if they are 1:1

"the man who sells what isn't hi'n, must buy it back or go to priz'n"

This is not some pseudoeconomic post-modern Libertarian cult, it's an un-led, crowd-sourced mega startup organized around mutual self-interest where problems, whether of the theoretical or purely practical variety, are treated as temporary and, ultimately, solvable.
Censorship of e-gold was easy. Censorship of Bitcoin will be… entertaining.
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January 20, 2012, 12:12:36 AM
 #17

Thanks.  Smiley
bittenbob
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January 20, 2012, 12:38:10 AM
 #18

I notice 53.5k BTC to $7 right now. Does that seem a lot higher than before to anyone else? This makes it seem unlikely to me we will see $7 any time soon unless most of those walls are fake.

Then again these walls could be by the manipulator who is trying to get people to short in preparation for a massive short squeeze. All it would take is several thousand coins being pulled from the order book and a few thousand coins bought to cause a snowball effect (Short Squeeze).
ineededausername
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January 20, 2012, 12:39:19 AM
 #19

I notice 53.5k BTC to $7 right now. Does that seem a lot higher than before to anyone else? This makes it seem unlikely to me we will see $7 any time soon unless most of those walls are fake.

Then again these walls could be by the manipulator who is trying to get people to short in preparation for a massive short squeeze. All it would take is several thousand coins being pulled from the order book and a few thousand coins bought to cause a snowball effect (Short Squeeze).

It does seem a lot higher than before... but I think the Manipulator is simply getting ready, as you said.

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proudhon
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January 20, 2012, 12:41:38 AM
 #20

I notice 53.5k BTC to $7 right now. Does that seem a lot higher than before to anyone else? This makes it seem unlikely to me we will see $7 any time soon unless most of those walls are fake.

Then again these walls could be by the manipulator who is trying to get people to short in preparation for a massive short squeeze. All it would take is several thousand coins being pulled from the order book and a few thousand coins bought to cause a snowball effect (Short Squeeze).

It does seem a lot higher than before... but I think the Manipulator is simply getting ready, as you said.

It doesn't just seem higher, it is higher.  A lot higher.  The ask side doubled in a matter of minutes a few days ago.
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