I stand corrected!
Wonder what fucking clown bought into the 1000 Bid walls on Stamp and Bitfinex? These will be expensive coins soon enough (compared with much lower buy in opportunities ahead) unless it was just another pass the parcel manipulation trade designed to alter market psychology.
Now, there is a 1600 BTC wall on the Ask side....probably the same whale trying to give the artificial momentum he thinks he has created a boot up the arse.
Hope the clown gets fkn slaughtered..........that triggered my Short Stop Loss that did.
Topic: How things will progress over course of evening. - page 2. (Read 2194 times)
Wow, that wall was raped
Do you see a crash and then a yo yo back up...or a crash with some stability (and sane growth)? or are we going to be in a long term $100+ yo yo cycle through summer at least?
Related question: why the yo yo this year? Mt gox news wasn't hitting every day...so I presume volatility is based on day traders trying to take advantage of unsophisticated, new market entrants that joined btc based on publicity when it hit 1000.
If that is the case then I'd say the yo yo would stop as number new entrants falls (due to bad news) and the newer people just hold and see where it goes...since I presume these people bought in with a prediction of REAL growth, and not a desire to day trade.
Related question: why the yo yo this year? Mt gox news wasn't hitting every day...so I presume volatility is based on day traders trying to take advantage of unsophisticated, new market entrants that joined btc based on publicity when it hit 1000.
If that is the case then I'd say the yo yo would stop as number new entrants falls (due to bad news) and the newer people just hold and see where it goes...since I presume these people bought in with a prediction of REAL growth, and not a desire to day trade.
A 1000 BTC Ask appeared on Stamp just recently. I would suggest that with the timing of it's appearance, that some whale wants the market to go down. There has been no attempt by the whale to chase down the spot price as his order triggered a series of panic sell-offs. If the market had the appetite to go much higher than where we are now (before it goes much lower), then this 1000 sell wall would have been devoured. Instead, traders are running away from it.
Down in the $550-$560 is a pretty solid Bid wall however.
I would imagine that Bitcoin will test this wall and rebound of it, and then trend back up to the $580 spot, where the 1000 Ask offer sits on Stamp, conveniently positioned so that the resistance it provides, will form a bear wedge at by then three distinct tops, with a floor around $555 - $560. At this point, traders may want to consider shorting Bitcoin, waiting to ensure that the $580 resistance isn't breached of course, which I don't imagine it will be.
All the 4hr indicators are maxed out and are ready to come back down.......
......I think we all know what comes next just as soon as the Chinese cowboys are out their beds and back on the game.
Down in the $550-$560 is a pretty solid Bid wall however.
I would imagine that Bitcoin will test this wall and rebound of it, and then trend back up to the $580 spot, where the 1000 Ask offer sits on Stamp, conveniently positioned so that the resistance it provides, will form a bear wedge at by then three distinct tops, with a floor around $555 - $560. At this point, traders may want to consider shorting Bitcoin, waiting to ensure that the $580 resistance isn't breached of course, which I don't imagine it will be.
All the 4hr indicators are maxed out and are ready to come back down.......
......I think we all know what comes next just as soon as the Chinese cowboys are out their beds and back on the game.
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