The Weekend Dip Myth

[mccorvic]

Alright everyone, weigh in. Dip this weekend?

Yes. I know this with 100% certainty.

Know why? Because I won't be trying to cash in on it.  Whenever I don't try, dip happens. When I do try...no dip.

SO DIP AWAY!

[Bjork]

I hope so

[adamstgBit]

theirs 0 chance of a dip on virtex its still at 7.05....

but ya i could see a dip to 7.59 7.50 on GOX  



... hmmm looks at chart....

looks back a bitcoin wallet

thinks for a second....

ooooH FUCK 

here we go

[veken0m]

theirs 0 chance of a dip on virtex its still at 7.05....

but ya i could see a dip to 7.59 on GOX  

With a 17K order wall on the ask side I don't think it will be going much higher until it's removed....

Code:

June 19, 2012, 4:14 p.m.	2443.70/2500.00	7.05000	17228.09 CAD

[adamstgBit]

theirs 0 chance of a dip on virtex its still at 7.05....

but ya i could see a dip to 7.59 on GOX 

With 17K order wall on the ask side I don't think it will be going much higher until it's removed....

Code:

June 19, 2012, 4:14 p.m.	2443.70/2500.00	7.05000	17228.09 CAD

ya i have to agree but we wont be going lower either.. we are 60cents off of mtgox price

its not like the ask wall will move down

[humanitee]

I'm out, I think we'll dip. Not sure to where though.

[adamstgBit]

@veken0m

Virtex 7.05$ 14K wall was removed

we can look forward to a slow grind up as long as mtgox prices holds

[humanitee]

Yeah, but in previous days that wall would have been eaten already.

The pressure just isn't there it seems. Might just be a reaction to Bitcoinica news.

[S3052]

the pressure is there. remember this key concept: "WALLS ARE FOR MARKET MANIPULATION ONLY"  the agenda behind putting up a wall is never to buy or sell coins but to keep the price high/low before a set time to make a switch (ie. this weekend). the reason they want to keep the price low till the weekend is they don't want to have as much competition for cheap coins. All the REAL trades are done in "the trenches." When people actually want to buy or sell coins they will do it "in the trenches" discreetly selling/buying a couple hundred coins at a time.

So essentially what i'm saying may sound counter-intuitive but here's what i think of "walls" :   A large ask wall thats up all day friday is a BULLISH sign. Assuming that they make the switch to the Bid side when the banks close. also a large bid wall thats up all day sunday is a BEARISH sign, because they plan on switching to the ask side when banks open.

The almost perfectly linear Diagonal line shape of the bid side is much more healthy than the "r" shape of the ask side.  this is because the bid side is full of "real" traders. People who actually want to buy coins. any time the price changes up or down the bid side is always buying "in the trenches"

+1

[smoothie]

the pressure is there. remember this key concept: "WALLS ARE FOR MARKET MANIPULATION ONLY"  the agenda behind putting up a wall is never to buy or sell coins but to keep the price high/low before a set time to make a switch (ie. this weekend). the reason they want to keep the price low till the weekend is they don't want to have as much competition for cheap coins. All the REAL trades are done in "the trenches." When people actually want to buy or sell coins they will do it "in the trenches" discreetly selling/buying a couple hundred coins at a time.

So essentially what i'm saying may sound counter-intuitive but here's what i think of "walls" :   A large ask wall thats up all day friday is a BULLISH sign. Assuming that they make the switch to the Bid side when the banks close. also a large bid wall thats up all day sunday is a BEARISH sign, because they plan on switching to the ask side when banks open.

The almost perfectly linear Diagonal line shape of the bid side is much more healthy than the "r" shape of the ask side.  this is because the bid side is full of "real" traders. People who actually want to buy coins. any time the price changes up or down the bid side is always buying "in the trenches"

Right now, in my opinion, the people that are selling "in the trenches" are being manipulated by that ask wall.

Wow I actually learned something important here. Thanks!

[floeti]

The almost perfectly linear Diagonal line shape of the bid side is much more healthy than the "r" shape of the ask side.

What about manipulators creating this "organic" line shape at the bid side (maybe via some script)?

[kentrolla]

The almost perfectly linear Diagonal line shape of the bid side is much more healthy than the "r" shape of the ask side.

What about manipulators creating this "organic" line shape at the bid side (maybe via some script)?

then they would have to be selling/buying in the trenches because they would have no wall to manipulate people into undercutting (which protects their wall, so they would have no protection). so their agenda would be to actually sell/buy coins. so this is what manipulators do AFTER a switch, or if they are predicting another manipulator's switch by essentially "calling their bluff".

bottom line is: no matter if its a bot or a bunch real traders, Linear diagonal lines are signs that they actually want to buy/sell. Walls are signs that they don't.

[cloon]

i see a great chance for a weekend dip. going test ~7.2
most important: 7.2 is finally broken, now it's a support line what makes me a strong bull:

[humanitee]

The almost perfectly linear Diagonal line shape of the bid side is much more healthy than the "r" shape of the ask side.

What about manipulators creating this "organic" line shape at the bid side (maybe via some script)?

That's what it is. The way that line structure pops up all at once sometimes, leads me to believe it's not created by humans. It's some kind of trading bot mixed in with regular buyers.

[kentrolla]

the pressure is there. remember this key concept: "WALLS ARE FOR MARKET MANIPULATION ONLY"  the agenda behind putting up a wall is never to buy or sell coins but to keep the price high/low before a set time to make a switch (ie. this weekend). the reason they want to keep the price low till the weekend is they don't want to have as much competition for cheap coins. All the REAL trades are done in "the trenches." When people actually want to buy or sell coins they will do it "in the trenches" discreetly selling/buying a couple hundred coins at a time.

So essentially what i'm saying may sound counter-intuitive but here's what i think of "walls" :   A large ask wall thats up all day friday is a BULLISH sign. Assuming that they make the switch to the Bid side when the banks close. also a large bid wall thats up all day sunday is a BEARISH sign, because they plan on switching to the ask side when banks open.

The almost perfectly linear Diagonal line shape of the bid side is much more healthy than the "r" shape of the ask side.  this is because the bid side is full of "real" traders. People who actually want to buy coins. any time the price changes up or down the bid side is always buying "in the trenches"

Right now, in my opinion, the people that are selling "in the trenches" are being manipulated by that ask wall.

Wow I actually learned something important here. Thanks!

plz delete that post. i was drunk when i posted that and that nonsense should be taking with a grain of salt.
P.S. get ready for the switch tonight when everyone is sleeping

[John (John K.)]

Thank goodness I had my $$ ready.. 

[kentrolla]

Have* 

the switch is happening tonight when everyone is asleep

[John (John K.)]

Have* 

the switch is happening tonight when everyone is asleep

I spent half of it so had is grammatically accepted, or not? 

[kentrolla]

at what price did u buy? either way, if u bought at any time today it was a good investment imo.

[John (John K.)]

at what price did u buy? either way, if u bought at any time today it was a good investment imo.

When it dipped below 7.5. I'm fairly confident that the price will stabilize above 7.8 in the coming week so it's a really good investment. Get them now while you can.