Topic: I applaud you guys - page 2. (Read 3420 times)
i applaud you also on your new aquired 'balls'
There was a great deal of selling into that wall, and surrounding areas. But, I think it was more the pessimistic manipulator than panic. There was many more coins sold than the 17k that remained when the price reached the $5.45 wall again. It still stands with about 5600BTC, so I can only guess that the optimistic manipulator was doing more buying than he wanted to.
That's right! I said "Manipulator"...Twice.
That's right! I said "Manipulator"...Twice.
I read that correctly. It only takes a 15k dumper and there goes your very strong short term bottom.
True, anything can happen. It's Bitcoin we're talking about after all. I don't think the bottom strength of 5.45 is quite at the level of 7.2 top strength yet, but if it holds for another test then it would rival it. We'll see what happens.
I read that correctly. It only takes a 15k dumper and there goes your very strong short term bottom.
You saying 5.45 is a "very strong bottom" makes me bearish. 
It's too often that people miss the most relevant parts in my posts, maybe I should put them in bold every time. I said that 5.45 is a very strong bottom in the short term, this means that at least for a day or two it's very unlikely to go below that. I don't think many disagree with me on this. It doesn't mean that the correction from 7.22 is necessarily over yet, we could still see a dip in the weeks to come. In the mid term it could go either way honestly and I don't have a clear opinion on that. My take on the current situation is like this: short term: UP, mid term: NEUTRAL, long term: UP. What happens in the Bitcoin economy in the next few weeks will probably change the mid term outlook to either up or down. I also see a small possibility of the long term changing to down in the coming months if we see Bitcoin development and adoption stall, but I give that a small probability for now.
Just personally, I think this collective strategy is making it worse. Panic was suppressed, but at the same time the damage a panic would deal was increased.
Sure, it may turn out one way or another, but I'm not a friend of instabilities. Call it personal preference, surely some people made profits I missed out on, but I'm not raising my hat just yet.
Sure, it may turn out one way or another, but I'm not a friend of instabilities. Call it personal preference, surely some people made profits I missed out on, but I'm not raising my hat just yet.
LOL
Have you had a look at the volumes? People did panic, and they still are acting stupidly.
You saying 5.45 is a "very strong bottom" makes me bearish.
Have you had a look at the volumes? People did panic, and they still are acting stupidly.
You saying 5.45 is a "very strong bottom" makes me bearish.
Often the BTC market acts like a bunch of scared kids. Lots of panicking going on. I've made some panic moves as well, back in the day. With all the talk about $5.4 being crucial and the imminent selling pressure directed at that level, I was almost expecting people to start panicking and selling in waves. I didn't do anything because I feel the so called "pessimism" is overstated, what we've been experiencing is a correction from the $7.2 bubble, nothing more.
I have to raise my hat to all of you who didn't panic! This is one of those rare moments when I have a reason to believe that the BTC market has finally grown balls. I hope that is the case. This also reminds me of the times when we visited $2 and triple bottomed. That was over a longer period of time of course but at least for the short term $5.45 is a very strong bottom. Happy trading everyone
I have to raise my hat to all of you who didn't panic! This is one of those rare moments when I have a reason to believe that the BTC market has finally grown balls. I hope that is the case. This also reminds me of the times when we visited $2 and triple bottomed. That was over a longer period of time of course but at least for the short term $5.45 is a very strong bottom. Happy trading everyone
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