Topic: Can someone explain how the price is so stable all of a sudden? - page 2. (Read 4666 times)

Market has factored out gox from the equation for a while so were trading on non-gox based prices

i think chinese buying pressure is too much to reliably short. i will watch closely. i doubt more than -10% change within an hour unless news hits.

Well, sure! Bad news in a bear market adds fuel. Some traders trade on how they think other traders will react to news. This gets the ball rolling, and the herd follows.

On Bitfinex, there are far more leveraged shorts than longs. Infact the shorts are totally maxed out. For this reason, I was expecting a short squeezing bull trap to transpire, where the shorts were all squeezed out, resulting in adding fuel to the break out, and encouraging dumb longs to pile in at which point the Bitfinex whales who would have manipulated the bull trap to begin with, would have dumped coin at max profit. After this, we would have the correction that all the chart indicators have been pointing towards.

This seemed to be the way the markets were going, but Huobi was having none of it. Fake volume or not, Huobi has spoken and the USD exchanges have followed. Clear and unequivocal break down from 2 day stagnant pennant formation with all the 4hr indicators yelling "Sell". An absolute 100% school boy short selling opportunity right now at $580.

I agree, that most Bitcoiners are long. With a massive amount of coins being bought at +$550 levels. The market will punish these holders of coins. Again, this move above $550 was instigated by Huobi. It will remain etched in my mind a long time. As I was long since $490, and was sitting contemplating a 5K BTC wall on Stamp and thought it was a clear time to sell. 2 Minutes later the Ask wall was raped by 6K worth of buying pressure. Aghast, I switched over to Huobi's chart and saw that a massive move was instigated there just a few minutes previously.

It is absolutely fucking ridiculous how the automated market trading simply follows in the steps of action on any other large exchange, especially exchanges like Gox or Huobi, where it is suspected the trading is all fake. But that is how it works. Perhaps the most popular trading bots are actually coded by Chinese bitcoin cyber-cowboys themselves. Perhaps they know better than anyone how the different trading algorithms work, and how best to completely milk the whole market dry. They may have their western based whale competitors who have other ideas as was seemingly witnessed today, but when it comes down to it, the western market shakers are no match for the mathematically adept and ultra underhand Chinese cyber-cowboys. That is how it seems to me anyhow. The West wants the market to do one thing, and it obliges, until China says something else. China almost always has the final word. (I identify China not just as 'Huobi', but all trading done during China waking hours including on USD exchanges where the mofos surely also operate).

hmmm, I agree of course, but several months worth of scare stories of people not receiving withdraws, money stopped, etc.. I do believe we noticed the price change just a little when each of those events happened, yes?

Because Gox isn't (wasn't) the reason for Bitcoin volatility. Volatility is caused by inexperienced traders and low liquidity.

Why would the removal of the most unstable part of something not help it stabilize?

Hey MatTheCat...Which 4H indicators are you using...?

Most trading is bot trading and they are all hooked up to action on other exchanges.

Huobi has spoken. Even if it is all fake trades, Huobi has shown a clear break and unequivocal break down from the pennant trend formed across the past few days. The bots on the USD exchanges will react to that. And Chinese traders trading on USD exchanges will also follow suit.

And on top of that, 4hr indicators are all giving sell signals right now, at a point where we have just had a stagnant trend after a massive crash and 85% recovery.

But admittedly, utterly treacherous markets to trade. Both sides could be punished brutally here.

Just to add that all my price levels are based STRICTLY on BTC-e ...Bid-Ask...

The other exchanges will vary slightly...now we don't have MtGox anymore...

Nothing is a profit until you close though! 

Nope, just waiting for a sign to see where the price is headed.

I guess the folks who wanted to buy at the lower prices are now all done

I am not surprised...

Usually the bigger moves are starting...with so called "false breakout"...in the opposite direction...just to shake the "weak hands" + to get "more monkeys on the trees"....which means to get rid of longs and get more shorts to be screwed on the way UP...

Very well seen during the London (European ) session...something like playing "soccer" / football...let me trick you to the left...so we can go the the right...Capisco...?

Looking again at the crystal ball...$550-560 is a clear Support for now...We'll see...
  

noticed the same thing.  i think whales are trying to keep it stable in light of the gox debacle.  they don't want everyone to run for the hills.  got to keep that confidence going.  reminds me when the price stayed at just over $800 for way too long.  i thought the whales were trying to keep it less volatile so it looked more like a currency.  back then people complaining about how volatile bitcoin was.  ahh, the good old days when volatility was the extent of our problems

Shorts have all been shorting like mad at $590.....they are in good profit already.

It's going down to shake all of the longs, then it's going to leave the shorts in the dust.

I thought that too...but Huobi has spoken...its going down.

At the moment is stable...making a "spring coil"...consolidation...

Most likely to resolve on the UP side...first resistance @ $620-630 level...short term(couple days)...around $750...medium (week or so)...$810-830 longer term...

This is what my "crystal ball" said...just kidding...

They inspire.