steady selling pressure, should be at $3.00 very soon

[Edward50]

I have watched these bitcoins drops so many times already. They always play out the same way.

The bitcoin buyer manipulator who throws in his 30,000-50,000 bidwalls in an attempt to stop the price fall has pretty much been out of the picture. His attemps happened two days ago when he tried to stop a fall from going below $5.00 by throwing up his 50K bidwalls. His 50K bidwalls were sold into.
From watching the numerous past bitcoin drops he usually stays out of the game after his 50K bidwalls get taken down. I am not sure why he does this, but he will not be back into the game until we go significantly lower. Last time he stayed out of the game until we dropped into LOW 2's.

We broke out to $4.2 today, the people in the know are dumping their coins. They have sold and dumped and will wait to we get much lower to start buying again. They did not sell their coins now, to start buying them back right now. They are smart, they will wait until we are much lower to buy back.

There is no market manipulator trying to put in huge 15K-50K bidwalls right now. Bid demand is very weak. Take a look for yourself. It looks like the only serious bidwall is all the way at $3.6. Nobody is trying to halt the drop of bitcoins right now.

We going to be going down pretty low. But who said we should have been as high as we were. Remember, bitcoins were almost at $1 just a month or so ago.  

What I think is happening is the price stagnated for so long that some market players decided it was time to push the bitcoin price back down. remember, volume was very lower before this drop, reaching sometimes only 20K a day.
This may be a rinse and repeat strategy by the big money. They pushed the price up, dumped, and now there is no market movement up anymore, they will push the price back down. Buy low, repeat, and push the price back up. It was obvious that someone was trying to push the price lower for a few days now and finally broke through.


Bid 3.6 12372.94
Bid 3.65 6870.15
Bid 3.7 2233.72
Bid 3.75 1283.81
Bid 3.8 1244.09
Bid 3.85 3915.88
Bid 3.9 2073.76
Bid 3.95 897.27
Bid 4 8775.07
Bid 4.05 3737.85
Bid 4.1 4884.19
Bid 4.15 2246.68
Bid 4.2 4387.08
Bid 4.25 2336.11
Bid 4.3 3290.96
Bid 4.35 522.77
Bid 4.4 3032.33
Bid 4.45 2704.86
Bid 4.5 2575.17
Bid 4.55 1346.39
Bid 4.6 396.41


Edit: someone made a point below saying that my advice should not be taken seriously because of some other prediction I said. Well he has a point in that, being that there was an obvious price floor at around $5.6, and being that it was well defended at that point. Also being that someone was able to completly sell through that price floor, using 100,000's of bitcoins to do so and was able to get through. This should be more to my point that this person intends the price to be going much lower and has the coins to sell through any resistence or manipulators trying to stop him.
We are going down pretty hard.

[1715558844]

1715558844

[N12]

You advised to put your faith in the manipulator and buy above 5 before.

Noone can take your "analysis" serious anymore. There is The Manipulator. There are many manipulators.

[Koekiemonster]

Haha

[Edward50]

You advised to put your faith in the manipulator and buy above 5 before.

Noone can take your "analysis" serious anymore. There is The Manipulator. There are many manipulators.

Your right, but I did say to put in a stop loss. It was a safe bet at that point because there did seem to be a price floor. They did try and stop the halt with 100,000's of bitcoins. But I did not think another manipulator would be bigger and be able to actually sell through that price floor.

But your right, seems to be two manipulators right now.

But that was a safe bet, with trying to catch any upwards movement knowing that you did have some kind of a price floor.

Anyway, this should even be more reason for my prediction about falling into the 3's. If there is another market manipulator with enough money to push through that $5.6 floor, and he also used alot of money to get through it as we saw the high volume. This is more reason to know that he will be pushing the price even lower.

[bb113]

I would be interested to see timestamped data about the $5.60 bidwall. I don't think it went down like you said. I think we would see a very large bid removed, then small sales pushing the price under $5.60, at that point the big sales began.

[Edward50]

I would be interested to see timestamped data about the $5.60 bidwall. I don't think it went down like you said. I think we would see a very large bid removed, then small sales pushing the price under $5.60, at that point the big sales began.

There was not a $5.6 wall. $5.6 seemed to be the price that it hovered around, or when it dropped below that price it was quickly back up at that price.

When the selling pressure happened a couple of days ago, most of the bidwalls came up around $5.2. The manipulator even had a 50K bidwall at one time, then he split it up into smaller 20K bidwalls around 5.1 and 5.2.

[teflone]

No offense man...

But your seeing stuff that isnt there..

[sat0pi]

If your "analysis" only consists of looking at bidwalls, which is what it looks like, then I feel sorry for anyone who listens to you.

[Oldminer]

If your "analysis" only consists of looking at bidwalls, which is what it looks like, then I feel sorry for anyone who listens to you.

Bid walls should always be ignored imo

[elux]

We going to be going down pretty low. (...) Remember, bitcoins were almost at $1 just a month or so ago.

 ಠ_ಠ

[Oldminer]

We going to be going down pretty low. (...) Remember, bitcoins were almost at $1 just a month or so ago.

 ಠ_ಠ

Yea well Ive been saying for a while now that @ $5+ is way over-valued. I suspect that eventually its value will drop to $2 or so (maybe less in the long term) but there will be a LOT of ups & downs in price (and profit to be made) before we get to that level.

[RoloTonyBrownTown]

Edward, kindly fuck off.

[SkRRJyTC]

We going to be going down pretty low. (...) Remember, bitcoins were almost at $1 just a month or so ago.

 ಠ_ಠ

Yea well Ive been saying for a while now that @ $5+ is way over-valued. I suspect that eventually its value will drop to $2 or so (maybe less in the long term) but there will be a LOT of ups & downs in price (and profit to be made) before we get to that level.

Oldminer avatar:

Want to end the fed? Bitcoin

Oldminer posts:

$5 is way over-valued

...

Go troll elsewhere

[Oldminer]

We going to be going down pretty low. (...) Remember, bitcoins were almost at $1 just a month or so ago.

 ಠ_ಠ

Yea well Ive been saying for a while now that @ $5+ is way over-valued. I suspect that eventually its value will drop to $2 or so (maybe less in the long term) but there will be a LOT of ups & downs in price (and profit to be made) before we get to that level.

Oldminer avatar:

Want to end the fed? Bitcoin

Oldminer posts:

$5 is way over-valued

...

Go troll elsewhere

Aww..mummy throw out your bottle did she? 

[pirateat40]

Who makes this stuff up?

[pirateat40]

Who makes this stuff up?

congratz on 666 poast

Damn I should have used it on Luke-jr's thread.  GRRRRRRR

[SkRRJyTC]

We going to be going down pretty low. (...) Remember, bitcoins were almost at $1 just a month or so ago.

 ಠ_ಠ

Yea well Ive been saying for a while now that @ $5+ is way over-valued. I suspect that eventually its value will drop to $2 or so (maybe less in the long term) but there will be a LOT of ups & downs in price (and profit to be made) before we get to that level.

Oldminer avatar:

Want to end the fed? Bitcoin

Oldminer posts:

$5 is way over-valued

...

Go troll elsewhere

Aww..mummy throw out your bottle did she?  

Oldminer's thoughts:

I know, I wont respond to my hypocritical behavior I'll just troll more. Brilliant!

...

My mommy breast fed me because she loves me.  Sorry to hear about your's.

[Oldminer]

We going to be going down pretty low. (...) Remember, bitcoins were almost at $1 just a month or so ago.

 ಠ_ಠ

Yea well Ive been saying for a while now that @ $5+ is way over-valued. I suspect that eventually its value will drop to $2 or so (maybe less in the long term) but there will be a LOT of ups & downs in price (and profit to be made) before we get to that level.

Oldminer avatar:

Want to end the fed? Bitcoin

Oldminer posts:

$5 is way over-valued

...

Go troll elsewhere

Aww..mummy throw out your bottle did she?  

Oldminer's thoughts:

I know, I wont respond to my hypocritical behavior I'll just troll more. Brilliant!

...

My mommy breast fed me because she loves me.  Sorry to hear about your's.

Yea but eventually you gotta leave the teet 

[Edward50]

oldminer, I am surprised that you finally see the truth about bitcoin prices. I remember you used to be very bullish.

[Oldminer]

oldminer, I am surprised that you finally see the truth about bitcoin prices. I remember you used to be very bullish.

Indeed I was. Not to say I dont think it could be worth $20+ again at some stage in the future but I have come to learn its value (at least for the time being) is largely determined by speculation.