Bears, Infidels and others alike thread.

[RyNinDaCleM]

Not really a bear or a bull, just a swing / day trader.  In the shorter long-term I think we will test $300 again soon, though I have said we would go to $500 this weekend.  I don't mind a surge upwards if happens, there's definitely bid support at around $380.   

In any case, how many of you here in this thread are actively shorting bitcoin or have shorted in the past?  Any particular strategies or technicals you look at?

I will short any time that it's profitable. I look for topping technicals. (ie divergences, slowing momentum, rising volume on declining price) I haven't shorted very recently because this correction to the down trend was expected and I don't fight the trend in most cases.

[Tzupy]

wobber, you are doing it wrong. You should create a "Bulls' bunker" thread, and the permabulls should post their delusional TA there,
with trains, rockets and moon pictures, regardless of the market state. That should clear up the forum for real TA.

[inca]

What a pathetic DCB that was.

BTC can easily go sub 200 by 2015. The potential for failure is enormous.

Do you stand by your predictions of 50-100k per bitcoin from earlier in the year. Or is it now <10 dollars a coin. Make up your mind!

[Tzupy]

Latest DanV on Tradingview: BTC - REVERTS TO BEARISH CYCLE IN FINAL LEG
What I found interesting is he got similar timings for THE bottom as mine (late December or February),
but as he's been usually too bullish, I hope his bottom guesstimate of 250$ will be proven too bullish again.

https://www.tradingview.com/v/A1mFwkEG/

[wobber]

360 breached down on Bitstamp.

Do people still think we're going higher? Because facts tell otherwise. Funny part is that if everyone would buy just using their funds in the exchanges, without coming with new money, price will skyrocket. And also taking the coins out, securely in their wallets. But it won't, because every time the price increases a bit, people sell to buy lower. And once the price gets lower, everybody waits to buy even lower.

[Tzupy]

360 breached down on Bitstamp.

Do people still think we're going higher? Because facts tell otherwise. Funny part is that if everyone would buy just using their funds in the exchanges, without coming with new money, price will skyrocket. And also taking the coins out, securely in their wallets. But it won't, because every time the price increases a bit, people sell to buy lower. And once the price gets lower, everybody waits to buy even lower.

The behavior you describe is typical of a bear market, so what is your point? When the market will reach a low price at which there won't be many sellers left,
it will be possible to build the sub-waves of a new bull market. Right now the market enters oversold zone, but there is some room to drop further.

[bitcats]

360 breached down on Bitstamp.

Do people still think we're going higher? Because facts tell otherwise. Funny part is that if everyone would buy just using their funds in the exchanges, without coming with new money, price will skyrocket. And also taking the coins out, securely in their wallets. But it won't, because every time the price increases a bit, people sell to buy lower. And once the price gets lower, everybody waits to buy even lower.

 

[blatchcorn]

It seems like we are no longer following any trend line.  This is why Elliot Waves are being posted so much lately.

I do not see any major upward movement until mid-2015 personally.

[var53]

360 breached down on Bitstamp.

Do people still think we're going higher? Because facts tell otherwise. Funny part is that if everyone would buy just using their funds in the exchanges, without coming with new money, price will skyrocket. And also taking the coins out, securely in their wallets. But it won't, because every time the price increases a bit, people sell to buy lower. And once the price gets lower, everybody waits to buy even lower.

The behavior you describe is typical of a bear market, so what is your point? When the market will reach a low price at which there won't be many sellers left,
it will be possible to build the sub-waves of a new bull market. Right now the market enters oversold zone, but there is some room to drop further.

Someone suggested potential auction bidders might dump a load of bitcoins before the auction to get the price as low as possible. That way they could buy cheaper coins during the auction itself. After the recent dump I'm wondering if there are manipulators at work, and if here are, how low they could drive the price down to.

[bitcats]

I do not see any major upward movement until mid-2015 personally.

   

[ravenjt]

Someone suggested potential auction bidders might dump a load of bitcoins before the auction to get the price as low as possible. That way they could buy cheaper coins during the auction itself. After the recent dump I'm wondering if there are manipulators at work, and if here are, how low they could drive the price down to.

The problem with this theory is that you would only need two (or more) market manipulators for this approach to fail.
If both you and I have driven down the price pre-auction, then we would both know that the true price was higher than the current actual market price, and therefore we would both be willing to bid above the current actual market price. We would end up bidding up to the true price in the auction. And therefore we would gain nothing.

[Newbie1022]

*Bump* Another bear joining the crowd.  I wonder if we go down even more the coming few days, but I consider that less likely. It is probably going to be a slow, weeks long grind downwards back to the previous low of October. A lot of people got burned in each case: it amazes me that people still fall for such pump and dump schemes in an obviously highly manipulated market.

But the best of all must have been all the pictures of dead bears, trains and moons. We go up a few days and suddenly everyone is like 'I"m calling the bottom!', 'Parabolic rise incoming', '10.000 dollar coins soon', 'To dah moon'. Delusional, that's what it is.

This. Even if you thought the price was cheap... $10,000 coins... or actually they were saying $100,000 coins within five years... is completely delusional bull----. I so agree.