It's ping-pong time again | Bitcointalksearch.org

arepo

sr. member

Activity: 448

Merit: 250

this statement is false

Quote from: ineededausername on January 19, 2012, 01:27:03 PM

wow, maybe $6-7 IS the trading range..

i'll just leave this here

Quote from: arepo on January 17, 2012, 05:22:47 PM

...markets swing from overbought to oversold. the 200% increase could easily have been a correction from the HISTORIC, UNPRECEDENTED downward momentum of the falling-knife (panic-selling-induced) crash. perhaps this is a sign that the correction is over and $6-$7 is a 'healthy' price range for bitcoin. always think longer term.

ineededausername

hero member

Activity: 784

Merit: 1000

bitcoin hundred-aire

wow, maybe $6-7 IS the trading range..

sgbett

legendary

Activity: 2576

Merit: 1087

PONGED when it should have PINGED!

StewartJ

sr. member

Activity: 392

Merit: 250

Quote from: SkRRJyTC on January 17, 2012, 05:32:45 PM

This doesnt look like ping pong

Just the pong for now. Manipulators rule supreme.

SkRRJyTC

legendary

Activity: 1008

Merit: 1000

This doesnt look like ping pong

StewartJ

sr. member

Activity: 392

Merit: 250

Quote from: Savior on January 17, 2012, 05:10:01 PM

You can see the market is going down, question is when will it stop.

Hopefully for you, not before you bought in. We are going back up to $7 again.

Not sure if we can break the $7.20 Resistance, she has been a tough nut to crack these last 3 weeks.

arepo

sr. member

Activity: 448

Merit: 250

this statement is false

Quote from: ineededausername on January 17, 2012, 05:12:13 PM

Quote from: Savior on January 17, 2012, 05:10:01 PM

You can see the market is going down, question is when will it stop.

Put all of your faith in the almighty Trendline Wink

...not yet. i call at least to $6.00 before it resumes the trend. it can break the trendline if it has enough momentum, as long as the very next movement is an upwards correction.

ineededausername

hero member

Activity: 784

Merit: 1000

bitcoin hundred-aire

Quote from: Savior on January 17, 2012, 05:10:01 PM

You can see the market is going down, question is when will it stop.

Put all of your faith in the almighty Trendline Wink

Savior

full member

Activity: 176

Merit: 100

You can see the market is going down, question is when will it stop.

StewartJ

sr. member

Activity: 392

Merit: 250

Quote from: ineededausername on January 17, 2012, 05:02:38 PM

It's time to start buying Cheesy

OMG Yes Yes Yes!!!

I mean correct, IMHO, it is indeed very good time to purchase BTC at this time.

proudhon

legendary

Activity: 2198

Merit: 1311

Quote from: ineededausername on January 17, 2012, 05:02:38 PM

It's time to start buying Cheesy

I'm going to hold out for a while.

ineededausername

hero member

Activity: 784

Merit: 1000

bitcoin hundred-aire

It's time to start buying Cheesy

old_engineer

sr. member

Activity: 387

Merit: 250

Quote from: StewartJ on January 17, 2012, 04:09:08 PM

Quote from: old_engineer on January 17, 2012, 03:41:44 PM

Quote from: ?? on ??

Just as everyone underestimated the actual strength of resistance, they are now underestimating the strength of price support. Experience should have educated you by now just how deceptive the order book is.

We can quibble about the exact targets, but I'm with inau—ping pong...

+1 - forseeing $6-$7 range, and the ~~cake~~ order book is a lie. I had two 1000+ coin buys and sells between ~$6.50 to ~$6.80 range... it's been a profitable couple of days. Now if that player that's been buying up everything to $6.90 pokes his/her head up again, my third cycle will be completed.

Envious. Have been doing the same thing, but at 1/10th the BTCs.

Still learning to make profit and minimize losses with 100 BTC play money, before I get to that higher level.

Good idea, that's exactly what I did. Well, what I really did was kept doubling down as the price dropped from June-Oct, but this also corresponded to an increase in my own confidence. It's easier at 1/10th scale - you don't move the market much if you decide to to buy or sell. I have to watch the depth a lot more.

But of course, I'm peanuts compared to whomever is 100x my scale, and has sold >50k btc to $6.50 as well as added ~50k btc to the sell order book. They set the market, and I work within the market parameters they set.

SlaveInDebt

hero member

Activity: 699

Merit: 500

Your Minion

Swing down sweet chariot Cool

http://youtu.be/_OzITyx6RKY

StewartJ

sr. member

Activity: 392

Merit: 250

Quote from: old_engineer on January 17, 2012, 03:41:44 PM

Quote from: ?? on ??

Just as everyone underestimated the actual strength of resistance, they are now underestimating the strength of price support. Experience should have educated you by now just how deceptive the order book is.

We can quibble about the exact targets, but I'm with inau—ping pong...

+1 - forseeing $6-$7 range, and the ~~cake~~ order book is a lie. I had two 1000+ coin buys and sells between ~$6.50 to ~$6.80 range... it's been a profitable couple of days. Now if that player that's been buying up everything to $6.90 pokes his/her head up again, my third cycle will be completed.

Envious. Have been doing the same thing, but at 1/10th the BTCs.

Still learning to make profit and minimize losses with 100 BTC play money, before I get to that higher level.

StewartJ

sr. member

Activity: 392

Merit: 250

Quote from: ?? on ??

Just as everyone underestimated the actual strength of resistance, they are now underestimating the strength of price support. Experience should have educated you by now just how deceptive the order book is.

We can quibble about the exact targets, but I'm with inau—ping pong...

This is the trend we have been repeating for a while.

Stability has come back, in the form of a $6-$7 trading range.

old_engineer

sr. member

Activity: 387

Merit: 250

Quote from: ?? on ??

Just as everyone underestimated the actual strength of resistance, they are now underestimating the strength of price support. Experience should have educated you by now just how deceptive the order book is.

We can quibble about the exact targets, but I'm with inau—ping pong...

+1 - forseeing $6-$7 range, and the ~~cake~~ order book is a lie. I had two 1000+ coin buys and sells between ~$6.50 to ~$6.80 range... it's been a profitable couple of days. Now if that player that's been buying up everything to $6.90 pokes his/her head up again, my third cycle will be completed.

thegato

newbie

Activity: 19

Merit: 0

Quote from: Vandroiy on January 17, 2012, 03:22:55 PM

Quote from: ?? on ??

Anyone using the order book to make decisions on where the market is heading is insane. Wink

Well, generally I'd agree, but not if the order book is so shallow that liquidations might already increase volatility a lot! It's easy to manipulate an order book to the upside, so the asks are pretty meaningless. But the bids being so few is not entirely meaningless. Price may spike much more heavily if someone panic sells 20k now.

I agree, hopefully it will not happen.

Vandroiy

legendary

Activity: 1036

Merit: 1002

Quote from: ?? on ??

Anyone using the order book to make decisions on where the market is heading is insane. Wink

Well, generally I'd agree, but not if the order book is so shallow that liquidations might already increase volatility a lot! It's easy to manipulate an order book to the upside, so the asks are pretty meaningless. But the bids being so few is not entirely meaningless. Price may spike much more heavily if someone panic sells 20k now.

antoineph

full member

Activity: 181

Merit: 100

Quote from: thegato on January 17, 2012, 03:13:14 PM

The Order book is being manipulated from yesterday.
Someone wants to buy cheap.

If that's the case then I am gaining from the giant spreads. Manipulation is Manipulable.

Topic: It's ping-pong time again (Read 2395 times)