Author

Topic: $150 will signal new trend (Read 2249 times)

pwi
member
Activity: 118
Merit: 10
May 28, 2013, 02:19:58 AM
#14
The dump surprised me a little -- although I should be used to them by now. Held, as usual, so no skin off my nose... but I do wonder as to what the dumper(s) were trying to achieve.

Volume was low as it was a long weekend, but the rest of the week looked potentially positive after the weekend's rally and with the sign of volume returning.

But all the dump is likely to do is remove the wind from the market. As we've found from the previous dumps, they no longer cause any long-term significant downward price movement following the dump.

This results in a stalemate, with bulls unwilling to buy from fear of seeing someone dump to manipulate, and bears unwilling to sell as they know the price won't go down.

So, what? Do we say hello to another 3 weeks of 0-volatility and 0-volume?

I really don't like the manipulators. They're basically crapping in their own playground.

People who use this to their advantage without having the capacity for market manipulation do pretty well with the means at their disposal. Probing dark orders and capitalizing on others' greed and deception pays big dividends in both the near and medium term. Long term realization will happen regardless.

Savvy traders recognize and play off others' tactics. All of us who trade are market manipulators in some sense. Responsible trading tends to stabilize an otherwise volatile market. Most market manipulators do so in order to stabilize the market while limiting loses and improving the potential for gain. Times of high volatility tend to be based in emotion rather than logical analysis.

The most solid play involves choosing an entry point at which the buyer is willing to buy and hold. Trading is for gamblers and short term speculation. Failure to understand this can be catastrophic and skews ones risk of ruin in a negative direction.

Value is fairly concrete inconsequential of others' motives.

Edit: my one hundredth post. I wish it was better, but I guess it'll do. Post 500 will be better     
full member
Activity: 238
Merit: 100
RMBTB.com: The secure BTC:CNY exchange. 0% fee!
May 27, 2013, 10:28:26 PM
#13
The dump surprised me a little -- although I should be used to them by now. Held, as usual, so no skin off my nose... but I do wonder as to what the dumper(s) were trying to achieve.

Volume was low as it was a long weekend, but the rest of the week looked potentially positive after the weekend's rally and with the sign of volume returning.

But all the dump is likely to do is remove the wind from the market. As we've found from the previous dumps, they no longer cause any long-term significant downward price movement following the dump.

This results in a stalemate, with bulls unwilling to buy from fear of seeing someone dump to manipulate, and bears unwilling to sell as they know the price won't go down.

So, what? Do we say hello to another 3 weeks of 0-volatility and 0-volume?

I really don't like the manipulators. They're basically crapping in their own playground.
legendary
Activity: 1904
Merit: 1037
Trusted Bitcoiner
May 27, 2013, 08:01:02 PM
#12
It just shows how nervous the market is right now, I think it will climb back to $123-135 on small volumes before the next sellof/pricedrop.

Then rinse and repeat until there are no more buyers who is willing to buy higher than last price.
More coins are sold than bought, and the traded volumes are generally low. (meaning that the market is less stable)

There is offc also the possibility that some big fish buys a lot of coins and drives the price sharply upwards. What's most likely is up to anyone to decide.

the market is nervous you're right, but its not people holding coins that are nervous, we are the ones holding something of actual value.
legendary
Activity: 2097
Merit: 1070
May 27, 2013, 07:51:29 PM
#11
One guy sold a crap load of BTC to manipulate the price down.

This has nothing to do with market nervousness, it's the actions of one or perhaps a couple of people.

If it happens again it's because this person chooses to do so again.

I believe his actions failed to a certain degree so I expect to see it again.
full member
Activity: 224
Merit: 100
One bitcoin to rule them all!
May 27, 2013, 06:50:59 PM
#10
It just shows how nervous the market is right now, I think it will climb back to $123-135 on small volumes before the next sellof/pricedrop.

Then rinse and repeat until there are no more buyers who is willing to buy higher than last price.
More coins are sold than bought, and the traded volumes are generally low. (meaning that the market is less stable)

There is offc also the possibility that some big fish buys a lot of coins and drives the price sharply upwards. What's most likely is up to anyone to decide.
legendary
Activity: 1148
Merit: 1001
May 27, 2013, 06:28:18 PM
#9
I was very surprised to see it under $130 today too. I have given up day trading after trying with just a little bit of BTC.  It just is so unpredictable to me which direction the market will go at any given time.

My speculation as to perhaps why it dropped a little today? It is a holiday here in the US so maybe people need to sell to pay for their weekend trips?  Wink  I am not sure.  I think this past week was really great though.  As long as we see a steady rise, even with some dips here and there, it is all good. 
sr. member
Activity: 434
Merit: 250
May 27, 2013, 12:14:16 PM
#8


$120 its a little difficult too withouth bad news i think (19k btc needed) but you can't underestimate a bear raid when it happends.


Very short memory. It has been 120$ and under for the majority of may so far . 120$ is very possible .

What are you talking about? We all know it's only going up Up UP!  Cheesy
legendary
Activity: 1449
Merit: 1001
May 27, 2013, 12:12:27 PM
#7


$120 its a little difficult too withouth bad news i think (19k btc needed) but you can't underestimate a bear raid when it happends.


Very short memory. It has been 120$ and under for the majority of may so far . 120$ is very possible .
sr. member
Activity: 434
Merit: 250
May 27, 2013, 10:56:57 AM
#6
I say the super-bullish sign will be breaking $166.43 - that's when the choo choo train will leave the station for good.

So would it be safe to say 'we will never see $95 again' ?

If someone sells 67,800 btc then sure we can see $95 again... but there are only a little less than 100k btc for sale on the order book, i don't think it's going to happend.

Bids can be removed, and coins can appear out of nowhere in a crash. Stay alert.  Wink
legendary
Activity: 1148
Merit: 1018
May 27, 2013, 10:53:49 AM
#5
I say the super-bullish sign will be breaking $166.43 - that's when the choo choo train will leave the station for good.

So would it be safe to say 'we will never see $95 again' ?

No. That "reptard" style prediction is pointless taking into account that Bitcoin may go to 0 at some pojnt.

What I'm quite sure is that this is no 2011. This means that unless something VERY BAD happens to Bitcoin, we won't see coins below $50 anytime soon. And sub $80 coins are unlikely IMO.
legendary
Activity: 2097
Merit: 1070
May 27, 2013, 10:39:04 AM
#4
I say the super-bullish sign will be breaking $166.43 - that's when the choo choo train will leave the station for good.

So would it be safe to say 'we will never see $95 again' ?
legendary
Activity: 1148
Merit: 1018
May 27, 2013, 10:27:47 AM
#3
I say the super-bullish sign will be breaking $166.43 - that's when the choo choo train will leave the station for good.
sr. member
Activity: 462
Merit: 250
May 27, 2013, 10:25:37 AM
#2
You didn't steal your name! Beware that Logic is outlawed in this section!
sr. member
Activity: 294
Merit: 250
This bull will try to shake you off. Hold tight!
May 27, 2013, 10:24:03 AM
#1
If $150 is reached the pattern of lower highs (266 -166 -150 -...) is broken and a new trend is set . Especially since the correction so far has been higher lows  (50 - 79 - 98 - 103).

However until then no clear trend is visible and caution is warranted.  
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