This is from an earlier thread when the $9 level was breached a month ago; pay attention to the parts I've underlined.
Dunno if there's another thread discussing this, I just
saw this on Reddit (
original log on pastebin).
this was kind of like a training simulation.
it will all make sense soon enough.
crashed is != corrected.
we don't want another bubble and my charts/triggers were screaming at me.
pirateat40, could you stop another "rally" if one were to ignite right now and buy up above $10?
proudhon, i could take [you] to 1.80 if i needed to.
There is no point in the last 7 months that I've not been in control of the market.
Keep buying people...
I'm just going to say this [one] time.... If you panic buy, you're going to lose.
Yes, Everyone BUY
GO!, NOW
The more you buy the more I make.
this is the first time ive ever played the market. It was simply a statement, I don't plan on making it part of my process. It's simply a warning.
80% is the people not in our tiny community.
Im trying to make a point here.
well guys, i think i've scared off the sellers. I'm tired and going to call it night and let the bots play. IRCFrEAK, im pulling the my wall and dumping.... Get ready!
In
the July spike above $9, there was far too rapid an ascent.
This one showed the same hallmarks and has so far elicited similar actions from Pirate (et al?). Neither were bubbles, but rather carefully managed ranges.
After the price was knocked down from $9, there was a calm period of almost two weeks. The decline from $15 is now nearly 50% and should create a somewhat longer calm period when it comes to technical trading - possibly several weeks, or even months in duration if Pirate was the primary cause of appreciation over the last few months.
Of course, with Pirate closing BS&T, the liquidation process will probably be volatile. I expect to see patterns similar to gold from mid-2011 to early 2012, only crammed into about a week's time. Since the Bitcoin economy is significantly greater than the community on the forums and IRC, we are privy to more information than most of the people participating in the exchange markets and can better capitalize on that volatility.
