Topic: Monday Afternoon (US Time), Where is this this big phucking 'announcement'? - page 3. (Read 4731 times)

Thank you Mat.  Are you short now, or just flat?

Yup.

That is me out.

Bought in at $660. Out at $645. Another spastic trade to add to my collection since the upper $600 range.

Haemorraging yet more USD due to further dicking around on the consolidation which teaches me a lesson for jumping off a clear bull run at the very first little hiccup hoping to catch a correction. That was in low $500s. Seems with trading that shoot yourself in the foot once, and spend the rest of the time trying to compensate for it making things even worse.

Of course, I am a shite trader and the fact that I have been shaken out probably means the 'bullish pennant' can now do what all the text books say that it does. Namely, break out violently to the upside, probably when I am in my bed and unable to respond.

Yea, this looks short-term down down down unless some whale comes up from the deep (which does happen, to be fair).  I have sold 75% of what I bought during the last downward spike.

Really? 75% is a lot...
I still feel we're going sideways, and we'll definitely spike if news come (as some say) tomorrow.

Yea, this looks short-term down down down unless some whale comes up from the deep (which does happen, to be fair).  I have sold 75% of what I bought during the last downward spike.

The only thing I am long on at this point are some .7492% 30 days swaps I loaned out today

The mother of my sister's boyfriend once met a priest in Slovakia who had a friend who once heard her father say "Cena nikdy neklesne" which supposedly means that we're going to reach $2000 next week.

And I'm not saying this lightly. I always trust the father of the friend of the mother of my sister's boyfriend, and so should you.

If you are going to believe what a random bunch of us say about BTC... you're gonna have a bad time.

Never believe anyone ever about anything, .

If you are going to believe what a random bunch of us say about BTC... you're gonna have a bad time.

Never believe anyone ever about anything, .

The mother of my sister's boyfriend once met a priest in Slovakia who had a friend who once heard her father say "Cena sa nikdy klesnúť" which supposedly means that we're going to reach $2000 next week.

And I'm not saying this lightly. I always trust the father of the friend of the mother of my sister's boyfriend, and so should you.

A few on this forum subsection, most notably Bittburger provided a link to his mates Facebook page, who is apparently a hotel manager in Miami, where a Bitcoin conference had taken place on Friday, with him having gleaned information which would supposedly come out Monday (today), which would result in present Bitcoin prices becoming a thing of the past.

Since I haven't seen anything like this, can I ask the source of these rumors?

I have been reading rumours of a big game changing announcement due to be getting made Monday Afternoon, Eastern US time.

Which is bullshit of course. A bear trap is just a profit opportunity for those who time it right. The name is solely there to account for the fact that timing is trickier. A lot trickier.

The only real bear case I see is a slow trickle down. Erosion of buying support, etc. And that takes time to develop, and you'd be able to pick it up early enough.

Quote me on this, if you want.

Who would go out of their way to squeeze out the longs on margin, only to have the same amount or more open/re-open since the point of entry would be lower?

Yup.

I have been reading rumours of a big game changing announcement due to be getting made Monday Afternoon, Eastern US time.

So I guess Monday afternoon has and almost gone in the eastern US and there has been no news release or statement of note regarding Bitcoin?


Although there are bullish indicators such as the pennant we have had right at the end of this rather sharp rise up (bullish in theory anyhow) and there is the bullish divergence between higher lows in BTC price and lower lows in the RSI, I have to say that the market is feeling kind of heavy right about now. Also the maxed out state of the Bitfinex longs doesn't fill me with hope for the immediate term. Leveraged traders aren't long term investors/holders. Leveraged traders are looking to make a quick buck from market momentum. Even if Bitcoin does have the prospect of new ATH in the coming months, big investors must surely be looking at the state of the leveraged long positions and thinking, "Like hell am I buying into that to have these fuckers cash out on my ass!"? If I was them, I would be looking to use my market clout to try and squeeze these longs out of their trades.

In a quandary as what to do. A text book correction from here would be to mid $500s. Fuck holding Bitcoins bought in mid $600s through a correction like that. I notice also that all the market 'weight' is coming through Stamp. If Stamp were to be magically erased from the market for a week I think Bitcoin would go right up from here.