somebody pulled the flush yesterday - page 2.

Kemarit

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Quote from: Altero on July 09, 2019, 06:18:49 PM

Thus it looks the final run is going to happen?
Setting into another huge jump yesterday will link into my mind that people aren't selling it low but keeping their BTC at their hands instead. As we look into another bull run, it is an absolute help to the market. But might FOMOing will soon to rise in the coming days.

We are trying to break the $13k barrier again, remember the last time we touch it, we didn't even last, in less than 24 hours, the price dip, indicative there people are simply trying to book for their profit. Of course FOMOing will always be there, but they are inexperienced, that's why they panic when the price seems to go down and seeing their portfolio losses in relation to USD, they simply pull the trigger.

So it's going to cyclical, more FOMO, wise investors book their profit. So let's see if they FOMO at $13000-$13500. But then I wouldn't surprised if we see another pullback after that.

pooya87

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Quote from: Altero on July 09, 2019, 06:18:49 PM

Thus it looks the final run is going to happen?
Setting into another huge jump yesterday will link into my mind that people aren't selling it low but keeping their BTC at their hands instead. As we look into another bull run, it is an absolute help to the market. But might FOMOing will soon to rise in the coming days.

nah, we are fresh out of FOMO buyers for the time being. they just did their panic buys when we initially went above $10k and reached a high price at $12k IIRC and then with the correction that we had right after it, they panic sold and are currently out.
in these cases the FOMO usually happens after the price had risen a little bit more and is showing signs of breaking next resistance. they FOMO buy after that resistance was broken so in this case it will start probably somewhere around $13.5k.

adaseb

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The reason why these huge dumps and wicks happen and then it reverses because people are way over-leveraged. Look at the Bitmex OI which is now over $1 billion, it was never this high before (not counting last week)

So there are way too many people bullish and they are also over-leveraged and this is why a small $100-$200 dump can lead to a larger $600 dump.

There is a website which actually shows you this,
https://tensorcharts.com/u/bitmexstats

Look at the Open Interest and look at the price and you will see what I mean.

STT

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Most of us are heavily bound to FIAT currency in our incomes and BTC is outside that. It makes more sense to go long then short, however a short could be a hedge to future value of BTC received. Its really easy to mess up any reasonable strategy, the dynamic of the market can change as Japan and Asia wakes up and decides it has a different plan for BTC today. So you were right in the americas hemisphere but wrong now Asia has its say. Right this moment its about to be 8am on the trading day so I do think we get the mood of Asia for possibly another 12 hours

I think this fight between different spheres of influence is part of why we keep getting pulled back and forth in a tug of war. I really struggle to discern who has the greater volume genuinely behind them to win, there does seem to be enough sellers in this area to keep it waiting for a while longer. My theory was if we go sideways too long, we slip off the upward trend but if anything its being pushed up above trend not below.

BitHodler

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Quote from: STT on July 09, 2019, 05:19:19 PM

I think the smart game to play is to identify the range early on so maybe 13k to 10k in this latest action and then just be more bearish at the top then the bottom where you either close or go long again. After it eventually leaves the range you can buy back if need be . All this trading does require alot more attention, I find it tiring and a bit stressful. I would prefer to swing trade personally

I honestly find this whole bull trend to be tiring in terms of the time and effort put into a trade that might or might not turn out to be profitable, and that while simply hodling has been giving people an easy and comfortable ride up.

There are always those who sell or place a short to get back in lower, then get surprised by a green candle and don't change their game plan because they don't want to close at a loss.

Most people aren't made for trading yet continue with it because it's either addictive, or people desperately try to gain back whatever they lost with the last couple of trades. In both cases it mostly doesn't end well.

Altero

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Thus it looks the final run is going to happen?
Setting into another huge jump yesterday will link into my mind that people aren't selling it low but keeping their BTC at their hands instead. As we look into another bull run, it is an absolute help to the market. But might FOMOing will soon to rise in the coming days.

milewilda

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Quote from: STT on July 09, 2019, 05:19:19 PM

The market seems to just keep repeating itself like a spincycle on a washing machine, shaking off short term orders and eventually finding the most reliable and probably highest volume to support the price up or down from here.

I think the smart game to play is to identify the range early on so maybe 13k to 10k in this lastest action and then just be more bearish at the top then the bottom where you either close or go long again. After it eventually leaves the range you can buy back if need be . All this trading does require alot more attention, I find it tiring and a bit stressful. I would prefer to swing trade personally

For shorting or active scalps then it is really stressing out but for swing ones then this is much i do prefer same as yours.
For people who have been here for at least 6months to 1 years would definitely be familiarized on how this market works or moves.
Dumps like these are none shocking things.

STT

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The market seems to just keep repeating itself like a spincycle on a washing machine, shaking off short term orders and eventually finding the most reliable and probably highest volume to support the price up or down from here.

I think the smart game to play is to identify the range early on so maybe 13k to 10k in this latest action and then just be more bearish at the top then the bottom where you either close or go long again. After it eventually leaves the range you can buy back if need be . All this trading does require alot more attention, I find it tiring and a bit stressful. I would prefer to swing trade personally

timerland

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Quote

i find it interesting when certain market behaviors keep being repeated. specially the obvious ones. for example in the past 48 hours we had a market flush that cleaned the market from weak hands and whales got bigger thanks to their panic sells. the interesting part is that such trends keep repeating every now and then counting on the weak hand panics to fill the gullet of the whales...

The same people who panic-sold at sub-$10k levels were most likely the ones that bought at the height of the short term rally at $13k+. You're definitely right in the sense that it essentially drives weak hands out, which in itself presents a possibility for long term investors to accumulate at below trend average prices.

I believe that short term cycles like these are imminent. Whilst it could take some time for a certain part of the cycle to actually come into play, if prices are growing at an unsustainably high rate over the short term (like it did with the rally from $7k to nearly $14k within weeks), the correction will be a matter of time.

I think that we're still somewhat consolidating though. Markets seem to be still quite subdued despite the recovery, and looks to consolidate further at the $12-13k corridor for a few more days before a likely upward move to re-test the $14k resistance.

Distinctin

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Quote from: Dreamchaser21 on July 07, 2019, 05:28:04 AM

Quote from: UnDerDoG81 on July 03, 2019, 05:06:45 PM

I think without whales we would still swim around 3k ish levels. God bless them (when) they help moving the market up.

Indeed, a blessing in disguise and they are working hard to get more profit and the benefit of that in the whole market, the price becomes more expensive. Some are thankful but some are trap on the top, maybe they don’t know how to ride with the whales.

It is really hard to find who's flushing it but that was not a surprise for us cause it happens already before and its gonna be happening again and again.
Let us forget what whales did before but let have enjoyed the market today. Have this pump will continue and never be get affected by weak hands who started throwing their BTC to make a profit by now.

serjent05

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Quote from: Red-Apple on July 07, 2019, 05:52:00 AM

weak hands are never going to go out of the market completely. their numbers shrink at times like the one i posted here because they panic but after a while all these panic sellers choose one of the following:

Honestly the market will never runs out of supply of weak hands. There will always be a new uneducated (about bitcoin) investors to come in and invest in Bitcoin. These are people that were driven by hyped, blinded by greed that they will get rich overnight. The current percentage of Bitcoin people are still a small fraction of the total global population. Meaning there are still lots of supplies of these weak hands.

Quote from: Red-Apple on July 07, 2019, 05:52:00 AM

- either they finally learn about the mistakes they have been making and stop being such a panic head

it would be best if they learned from their mistake and make it a stair step to finaly get profit in Bitcoin market.

Quote from: Red-Apple on July 07, 2019, 05:52:00 AM

- or they lose enough money to discourage them from coming back but until then they will FOMO buy after price went back up.

Sadly others just quit and never came back.

Slow death

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Quote from: Red-Apple on July 03, 2019, 06:54:53 AM

the interesting part is that such trends keep repeating every now and then counting on the weak hand panics to fill the gullet of the whales...

People are buying to make a profit, when they go back to the past and look at the scenario where the price increased to $19000 and in a few months fell to $3000? are expected the panic sell. every time the price increases much higher than $ 12500, people will be watching with fear, only if the price stabilizes for a long time above $ 12500 can create confidence in people

Quote from: Red-Apple on July 03, 2019, 06:54:53 AM

now that we are rid of them, price is back to normal again.

but if the price increases a lot to $18000 for example, in a few hours we will see the same thing happened when the price reached $13700

Red-Apple

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Quote from: stadus on July 06, 2019, 10:17:55 PM

Quote from: Red-Apple on July 03, 2019, 06:54:53 AM

now that we are rid of them, price is back to normal again.

Can't really tell but I hope weak hands are gone already so the price will start rising again.
By looking at the graph based on short term trade, it's hard to determine what would happen in the future as even it's due for a rise, but along the way there are some panic that might happen again due to correction.

weak hands are never going to go out of the market completely. their numbers shrink at times like the one i posted here because they panic but after a while all these panic sellers choose one of the following:
- either they finally learn about the mistakes they have been making and stop being such a panic head
- or they lose enough money to discourage them from coming back but until then they will FOMO buy after price went back up.

Dreamchaser21

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Quote from: UnDerDoG81 on July 03, 2019, 05:06:45 PM

I think without whales we would still swim around 3k ish levels. God bless them (when) they help moving the market up.

Indeed, a blessing in disguise and they are working hard to get more profit and the benefit of that in the whole market, the price becomes more expensive. Some are thankful but some are trap on the top, maybe they don’t know how to ride with the whales.

stadus

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Quote from: Red-Apple on July 03, 2019, 06:54:53 AM

now that we are rid of them, price is back to normal again.

Can't really tell but I hope weak hands are gone already so the price will start rising again.
By looking at the graph based on short term trade, it's hard to determine what would happen in the future as even it's due for a rise, but along the way there are some panic that might happen again due to correction.

justdimin

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I think the difference between panic sellers and whales is that whales can afford to lose and they are eating up that risk to make more money while panic sellers are usually people who are getting into bitcoin with money they actually shouldn't and whenever it gets low they are definitely risking all of their livelihood so they get out as quickly as possible to keep themselves from going broke.

Not because whales are smart and panic sellers are idiots, if you give one of those panic sellers thousands of bitcoin and say trade this then they will do the same thing a whale will do, so its not the fact that whales are smart but your trading habits change in a second when you happen to find a lot of money to trade. I have met with whales and panic sellers and the case was always like that.

Red-Apple

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Quote from: YuginKadoya on July 06, 2019, 03:01:24 AM

Quote from: buwaytress on July 03, 2019, 03:39:50 PM

Quote from: YuginKadoya on July 03, 2019, 07:47:05 AM

Are you part of the whales now? Because of this panic sell that happened, I guess there are many conclusions why the market drop its price so sudden,

Well, if being happy for dips makes one a whale, then I most certainly am the Moby Dick of small-time Bitcoiners. I actually don't buy, I just get paid in BTC so I basically just cost average since I have to get paid and pay bills pretty regularly... but I have some leeway in how I time the invoices, so when a dip happens like that, you can be sure I'm asking to get paid asap;)

I don't think this was any panic selling either. We'd be seeing far deeper, far longer, crashes, if panic had set in.

We can never know if he is a part of the whale family now or not, And I just ask him if he is one pertaining to the dip and getting excited with it, We can never know who is a whale or not in the forum Until someone had said so, I am one of the averages that are just getting paid, Waiting for a sudden trade, And hoping in winning it big in gambles for a couple of Bitcoin or other cryptocurrencies,

And you are right and I do not really think that this is really a panic selling but I guess this can be a correction, But as I said there are many that are saying that this is because of the market panic.

i don't know what difference it would make but no i am far from being a whale. i am teeny tiny fish in the sea and i am never happy about dips because i rarely trade bitcoin with fiat.
my main trades have mostly bee bitcoin with altcoins where i go in altcoins temporarily while they get pumped and pull out as soon as i reach my profit goal.
my fascination is with the way panic spreads sometimes in bitcoin market and the result is missing out for those who made the irrational decisions.

arpon11

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Quote from: Adriano2010 on July 03, 2019, 11:19:33 AM

In my opinion is just a correction and the grow will continue again if not now a bit later and also maybe some people start sell because they make some profit if they sell at over 10k.

Two things are involved during the pullback in asset's pricing. It always profits taken from the recently gained or weak hand selling out of panic. I see the corrections that happen yesterday or a day before as manipulation for the weak to sell out of panic and some of them are still doing that. The advised "don't sell during correction but sell when you think the price has a breakout of the trends line" is one of the advice many of us cannot follow because when cannot really tell the positions of the coins par time.

YuginKadoya

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Quote from: buwaytress on July 03, 2019, 03:39:50 PM

Quote from: YuginKadoya on July 03, 2019, 07:47:05 AM

Are you part of the whales now? Because of this panic sell that happened, I guess there are many conclusions why the market drop its price so sudden,

Well, if being happy for dips makes one a whale, then I most certainly am the Moby Dick of small-time Bitcoiners. I actually don't buy, I just get paid in BTC so I basically just cost average since I have to get paid and pay bills pretty regularly... but I have some leeway in how I time the invoices, so when a dip happens like that, you can be sure I'm asking to get paid asap;)

I don't think this was any panic selling either. We'd be seeing far deeper, far longer, crashes, if panic had set in.

We can never know if he is a part of the whale family now or not, And I just ask him if he is one pertaining to the dip and getting excited with it, We can never know who is a whale or not in the forum Until someone had said so, I am one of the averages that are just getting paid, Waiting for a sudden trade, And hoping in winning it big in gambles for a couple of Bitcoin or other cryptocurrencies,

And you are right and I do not really think that this is really a panic selling but I guess this can be a correction, But as I said there are many that are saying that this is because of the market panic.

davis196

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the interesting part is that such trends keep repeating every now and then counting on the weak hand panics to fill the gullet of the whales...

now that we are rid of them, price is back to normal again.

We will never get rid of the whales.The fact that the btc price is kinda stable now (around 11K USD) doesn't mean that whales are gone.The short term price correction was due to the rapid price growth,which happend previous weeks.It was a short term panic selling,but we can't be 100% sure that it was caused by the crypto whales.

Topic: somebody pulled the flush yesterday - page 2. (Read 772 times)