Miz4r
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Activity: 1246
Merit: 1000
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May 24, 2014, 09:27:37 AM |
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If you check the pricemovement in 2014 you will see,that 547 $ was only at 16.April a resistance.
So I think it is not a very strong resistence since earlier in 2014 it has been several times a support That's exactly why it's a strong resistance now. Support becomes resistance once broken, and strong support becomes strong resistance. |
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sharkyshark (OP)
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Activity: 84
Merit: 1
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May 24, 2014, 11:56:30 AM |
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Nothing bearish at all happening...
We are just still waiting for the test of $547 on Bitfinex with volume.
I didnt say it would be easy..
BUT if it can pass $547 USD on Bitfinex we will see SIGNIFICANT upwards movement..
I am still waiting ...
Picked up some shorts today as i saw it was weak..
Like I said before there are some good day trading in the $505 - $540's range.
I just do want to be caught short and it push through $547.. (that would suck,,,)
Lets see....
With all due respect, I think you are wrong. 506-507 is only a 38% retracement from the top of this rally from where it began. Not AT LEAST hitting that is very very bullish, especially since we shot right past $500 and "if this were a stock" we would be guaranteed to retouch such a significant #. We could retrace to $495 (around 50% retracement) and still be fine. Go ahead, short 200 btc at $506. Let's see how that works out for you. .......................................................................... You would be very surprised how well it will work for me... I only trade on confirmations. I am neither a long or short overall. I am here to trade bitcoin only. If I can short it for money i will if i can buy it for profit i will.. Lets see what happens.. |
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sharkyshark (OP)
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Activity: 84
Merit: 1
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May 24, 2014, 12:36:47 PM |
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Look like we will be going to the following levels.. if there is a downturn ..  Huobi : 3048 Bitstamp : 495 Bitfinex : 494 If we can pass $547 then up, up, up. Lets see.. |
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windjc
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Activity: 2156
Merit: 1070
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May 24, 2014, 06:01:25 PM |
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Look like we will be going to the following levels.. if there is a downturn .. Huobi : 3048 Bitstamp : 495 Bitfinex : 494 If we can pass $547 then up, up, up. Lets see.. Which is exactly what I said. 50% retracement at most. So your going to try to skim short from 506 to 495? Sounds risky to me. Doubt you get the chance though. |
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sharkyshark (OP)
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Activity: 84
Merit: 1
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May 24, 2014, 11:50:00 PM |
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I am shorting on bitfinex @529/530 closing all longs.
I think this is a fake break out..
Lets see..
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damnek
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May 25, 2014, 12:06:42 AM |
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I am shorting on bitfinex @529/530 closing all longs.
I think this is a fake break out..
Lets see..
Keep on gambling, it makes the market liquid and in play  |
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sharkyshark (OP)
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Activity: 84
Merit: 1
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May 25, 2014, 12:17:24 AM |
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I am shorting on bitfinex @529/530 closing all longs.
I think this is a fake break out..
Lets see..
Keep on gambling, it makes the market liquid and in play ahhhh, okkk.. Just watch the 1 day candle form.. (for today) On Huobi, Bitfinex and Bitstamp..  Like clock work.. thank you... |
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sharkyshark (OP)
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Activity: 84
Merit: 1
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May 25, 2014, 12:35:23 AM |
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I could be wrong...
I will only close my shorts if it go over $457 on bitfinex...
Adding more shorts as we go up to $450 .
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adamstgBit
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Activity: 1904
Merit: 1037
Trusted Bitcoiner
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May 25, 2014, 12:41:13 AM |
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you should have stuck to your plan form OP...
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Bit_Happy
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Activity: 2100
Merit: 1040
A Great Time to Start Something!
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May 25, 2014, 12:44:45 AM |
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We got through the last treadline but the REAL issue will now be $547 USD on bitfinex.
If we can get through that number you will see SERIOUS VOLUME and A MAJOR break upwards..
I have shorted at $500 even on bitfinex..
I think a 50% fib retracement to $472 ,,,
If it goes to $522 on bitfnex i will be forced to close my short at $500 and wait for the $547 to go loong again.
LETS SEE what happens..
I think a 50% fib retracement to $472...I had a similar number in mind, but... Have you heard about the Bud Concert Series Bitcoin giveaway?Fundamentals matter a lot, and with so much amazing good news, Bitcoin might go to $800 (for example) before you see a classic "predictable" correction. |
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STT
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Activity: 3906
Merit: 1414
Leading Crypto Sports Betting & Casino Platform
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May 25, 2014, 12:52:11 AM |
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No this is no good. Volume flat lined and price has risen some off the recent lows. It does not appear constructive to a bigger move and personally I dont care for anything less then 100 up or down. Right now its idling with the heater on, eating doughnuts and coffee. Is this the time it breaks upward, I would guess not more likely a repeat so back to defcon 5 imo :p
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sharkyshark (OP)
Jr. Member
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Activity: 84
Merit: 1
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May 25, 2014, 12:54:09 AM |
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I am sticking to my plan...
I am short bitcoin @$530.. I will short more at $535 and $540 ,, if it goes to $550 i will stop and get ready to close the shorts and buy 200 at $548..
IF not then down we go and i will be very happy either way..
Whats the issue?
lol
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adamstgBit
Legendary
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Activity: 1904
Merit: 1037
Trusted Bitcoiner
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May 25, 2014, 12:57:51 AM |
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If it goes to $522 on bitfnex i will be forced to close my short at $500 and wait for the $547 to go long again.
you should have no more shorts and ready to go long |
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Bit_Happy
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Activity: 2100
Merit: 1040
A Great Time to Start Something!
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May 25, 2014, 01:04:38 AM |
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...
Whats the issue?
lol
The issue is you are shorting like mad in a long-term Bull market and prepared to take losses & go long at a higher price. A much better plan would have been to buy big at ~$400 (or lower) and sell part of that now, so you win either way. |
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adamstgBit
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Activity: 1904
Merit: 1037
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May 25, 2014, 01:11:42 AM |
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I am sticking to my plan...
I am short bitcoin @$530.. I will short more at $535 and $540 ,, if it goes to $550 i will stop and get ready to close the shorts and buy 200 at $548..
IF not then down we go and i will be very happy either way..
Whats the issue?
lol
ok i'm calling your strategy "premeditated panic buying"  not a bad plan in all honesty, i like your numbers. |
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windjc
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Activity: 2156
Merit: 1070
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May 25, 2014, 01:57:52 AM |
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I am sticking to my plan...
I am short bitcoin @$530.. I will short more at $535 and $540 ,, if it goes to $550 i will stop and get ready to close the shorts and buy 200 at $548..
IF not then down we go and i will be very happy either way..
Whats the issue?
lol
Thats a horrible plan. You should have put in short orders at 545 right below the obvious resistance at 547. Now the market has already corrected and it is consolidating higher for a breakout above 547 within the next few days. I bought at $525. What's the issue? lol |
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sharkyshark (OP)
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Activity: 84
Merit: 1
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May 25, 2014, 03:20:59 AM |
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very interesting.....
I am ready to close shorts and go long at $548 on bitfinex...
lets see..
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Gingermod
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May 25, 2014, 03:23:53 AM |
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very interesting.....
I am ready to close shorts and go long at $548 on bitfinex...
lets see..
.............. |
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Gingermod
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May 25, 2014, 04:36:08 AM |
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541 on bitfinex
Time for the test?
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Marbit
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May 25, 2014, 04:44:39 AM |
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541 on bitfinex
Time for the test?
Certainly seems like it. So who's betting for it to break, and who's betting against? Heh, I think it will fail, but I am too scared to short. If it breaks and looks strong, I'll be buying in for the ride, though. |
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