somebody pulled the flush yesterday | Bitcointalksearch.org

Lanatsa

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Quote from: sana54210 on July 17, 2019, 02:10:44 PM

Guys, this will keep happening until we are finally over 20k and will continue to happen even afterwards for a while. There has been a lot of people who have bought bitcoin at over 10k and they have been waiting for years to finally cash out without a loss or with minimum loss (maybe even profit) so they are bound to ruin the bull hype train a bit in order to make their money back.

Anytime we reach 12k+ prices they will keep selling their coins to get their profits they have been waiting for so long and that will continue to do so until there are no more sellers from that era of bitcoin. When we are finally done with them we can easily go back up in price and reach even higher levels, until that happens though we are going to just keep going up and down for a long time.

Its a market which is composed with sellers on buyers where we cant just see on continuous rising price.There would always be a sell-off and people

who are just being hyped up on that sudden price increase a month ago believing that we would reach up ATH too early then as I expected it wont really be that easy.
This would be still the same bumpy road we had experienced in the past and on future years to come.

sana54210

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Guys, this will keep happening until we are finally over 20k and will continue to happen even afterwards for a while. There has been a lot of people who have bought bitcoin at over 10k and they have been waiting for years to finally cash out without a loss or with minimum loss (maybe even profit) so they are bound to ruin the bull hype train a bit in order to make their money back.

Anytime we reach 12k+ prices they will keep selling their coins to get their profits they have been waiting for so long and that will continue to do so until there are no more sellers from that era of bitcoin. When we are finally done with them we can easily go back up in price and reach even higher levels, until that happens though we are going to just keep going up and down for a long time.

South Park

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Quote from: Red-Apple on July 15, 2019, 07:28:30 AM

i have no problem with fluctuations, corrections, rises or drops. and i am not blaming that part of the market. i am blaming what comes after the correction, after the rise,... the panic buyers and panic sellers that create the huge volatility and open room for manipulators to enjoy big profits that they take out of their pockets.
and it is not about holding either, it is about selling at the correct time and if that time was missed not selling anymore. the panic sellers sell when the sell is done and drop is over and cause the drop become sharp and look like a big ass V

While I understand your discontentment with those that are selling their coins at the worst possible time, if it was not for them then it will be impossible for traders and investors to make any profits since everyone will be taking the right decisions all the time and no one could beat the market, the only thing we can do is to try to educate those that are willing to listen and to improve themselves, but what about the rest? There is nothing we can do for them, despite what they say their actions clearly indicate that they love to lose money.

Red-Apple

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these are the steps now to "trap the bears" and practically perform the last squeeze on the market and see how much blood gushes out of it.
this bear trap stage is the most common thing that happens after the initial take off and first sell off was done and here in bitcoin we have that mixed with some panic. then comes the next stage of the big rises.
...and it is the same thing we had before the previous ATH happened back in 2016

exstasie

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Quote from: prophetx on July 16, 2019, 02:30:54 AM

I agree it’s a very weak bounce at the moment

Stronger than anything we've seen since the top on July 10th. That was a $1,200 daily bar.....nothing to sneeze at. But its true, bears are still in control as far as the 4H-daily trends. Looking at the daily chart, if bulls can break and hold above $11,500 then it's bullish and I'm inclined to say we won't make new lows. It's up in the air for now.

prophetx

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Quote from: STT on July 15, 2019, 07:04:29 PM

Quote from: prophetx on July 14, 2019, 10:36:24 PM

i agree tho that if it doesn’t bounce in the next 12 hours it’s gonna test new lows

Disappointing to me is that it did bounce however I still think on the daily trend and some other measures it can turn bearish here. To do so now after already rallying and wearing some buyers out would produce that OP flush mentioned.

For the bearish view 11,500 would be the last fight but mostly I think it should stalling on this daily bar not still edging up but I dont have all of the picture. Maybe Japan and Korea decides the fates of BTC

I agree it’s a very weak bounce at the moment

STT

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Quote from: prophetx on July 14, 2019, 10:36:24 PM

i agree tho that if it doesn’t bounce in the next 12 hours it’s gonna test new lows

Disappointing to me is that it did bounce however I still think on the daily trend and some other measures it can turn bearish here. To do so now after already rallying and wearing some buyers out would produce that OP flush mentioned.

For the bearish view 11,500 would be the last fight but mostly I think it should stalling on this daily bar not still edging up but I dont have all of the picture. Maybe Japan and Korea decides the fates of BTC

Red-Apple

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Quote from: marcbitcoins on July 14, 2019, 10:49:09 PM

We shall not put all the blame to weak hands and we should not praise the big whales either. There are lot of reasons of why the market is constantly fluctuating like the corrections in the middle of real demand and some hacked exchanges in which stolen cryptos are being sold creating panic but we shall not blame the weak hands only as some times that you keep on holding but the market keeps on falling losing your opportunity to sell making you to confuse on every market movement.

i have no problem with fluctuations, corrections, rises or drops. and i am not blaming that part of the market. i am blaming what comes after the correction, after the rise,... the panic buyers and panic sellers that create the huge volatility and open room for manipulators to enjoy big profits that they take out of their pockets.
and it is not about holding either, it is about selling at the correct time and if that time was missed not selling anymore. the panic sellers sell when the sell is done and drop is over and cause the drop become sharp and look like a big ass V

marcbitcoins

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We shall not put all the blame to weak hands and we should not praise the big whales either. There are lot of reasons of why the market is constantly fluctuating like the corrections in the middle of real demand and some hacked exchanges in which stolen cryptos are being sold creating panic but we shall not blame the weak hands only as some times that you keep on holding but the market keeps on falling losing your opportunity to sell making you to confuse on every market movement.

prophetx

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Quote from: STT on July 14, 2019, 06:55:59 PM

If it loses this area without much a contest it should show up as further selling I think. This is the 33 day average forming the ceiling to pricing over today. Every bar is 4hr and its failed to regain any momentum to the upside so far hence market shows little desire to rise at this time.

monday is payday and banks open so lets see what happens

i agree tho that if it doesn’t bounce in the next 12 hours it’s gonna test new lows

STT

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If it loses this area without much a contest it should show up as further selling I think. This is the 33 day average forming the ceiling to pricing over today. Every bar is 4hr and its failed to regain any momentum to the upside so far hence market shows little desire to rise at this time.

Moiyah

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We are not new to this kind of pulled. It is not surprising at all, we are in crypto world where the market can be manipulated possible by whales who owns thousands of bitcoin. They pulled the trigger then let them be. As long as we are not panic selling and panic buying when that happens. As long as there are corrections in the market, probably not to worry about.

WinslowIII

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Pull the flush - I like that. Makes me visualize weak hands and short term speculators being flushed down a toilet lol.

https://www.youtube.com/watch?v=_-8j8c7iL3E

Cherylstar86

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Quote from: ?? on ??

I also believe that manipulators uses this flush or the sudden dump so that panic sellers loses their holdings that will greatly affects the bitcoin price. This is definitely the doings of supply and demand and also i dont like those people who just comes here because of the hype and quits after losing to the flush.

Just let it happen mate, we're out of control on that scenario that suddenly blasted yesterday. Although some holders tend to panic, but some we're able to buy and take good opportunities to hold Bitcoin. It's their decision to sell and get their profit and even if btc price declined, that's another good signs to obtain another surges which makes price became consistent.

South Park

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Quote from: bitgolden on July 10, 2019, 09:19:59 AM

I think they are trying to create a fomo right now. Think about it, first they will sell all their alt and go buy bitcoins with it which will increase the bitcoin price, then the new people who do not have bitcoin right now will see that and buy from them, so they will use that bitcoin to go back to altcoins later on because bitcoin already skyrocketed and then they will make the altcoins go high so the new people that bought bitcoin that missed the biggest increase will start buying altcoin as well and eventually those "new" people will miss both the bitcoin run and altcoin run while the people who are doing it right now will be profiting from it themselves, that is why I think this is a clever setup by the veterans and whales of the market right now.

That is a possibility since altcoins have been really quiet during this increase in the price, it is true they have gained value against fiat but they have lost value against bitcoin and the dominance of bitcoin is still going up despite the current decrease in the price and it is now at 65.2%, however it is also possible that investors have lost their confidence in altcoins and we will not see an altcoins season now, after all while many are expecting the current bull run to be greater than the last one I do not see all the factors aligned for that to happen.

STT

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Quote from: pooya87 on July 09, 2019, 11:18:23 PM

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.

Im willing to bet thats a more reasonable take for the moment, we have made several attempts in this area. In terms of quick money its been done and played over, markets dont usually simply repeat without variation. So if the top boundary wont give way, it might move to test the 10k area with more conviction.

bitgolden

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I think they are trying to create a fomo right now. Think about it, first they will sell all their alt and go buy bitcoins with it which will increase the bitcoin price, then the new people who do not have bitcoin right now will see that and buy from them, so they will use that bitcoin to go back to altcoins later on because bitcoin already skyrocketed and then they will make the altcoins go high so the new people that bought bitcoin that missed the biggest increase will start buying altcoin as well and eventually those "new" people will miss both the bitcoin run and altcoin run while the people who are doing it right now will be profiting from it themselves, that is why I think this is a clever setup by the veterans and whales of the market right now.

leowonderful

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It's important that you don't FOMO into any trades at the moment either, even though it may seem attractive to just market buy and hope that things continue to go up with the trend we're in. I'm personally setting a few limit buys in the upper $12ks and also in the lower $12ks should we get some bearish movement downwards, which I see as being possible at any moment here. Bulls have really been buying up dips recently, however, and any significant attempts at dumps have been rapidly bought up at the moment. Still can't rule out a liquidation fueled wick down, as OI on BitMEX is so high in USD value and XBT value that this can rip up and down very rapidly.

Questat

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Ain't no surprise for a sudden drop may follow after a short pump. This is eventually happening as weak hands lose their BTC and the start of FOMO.
Just one thing to send them(weak hands) is that never pull the trigger too early, let the price may move farther and we all got benefited with this.

But of course, we aren't controlling them and only we just asking for their support otherwise, we can't be seeing another ATH.

1Referee

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Quote from: Kemarit on July 10, 2019, 03:17:27 AM

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.

It's a good thing to face resistance around these levels because that means people are unloading their coins, which will make a further increase afterwards easier because their bags will either remain empty or they will re-accumulate to not miss out. I'm confident that the bulls will be able to absorb the selling without too many problems.

The last time we saw a spontaneous dump was on Bitstamp which triggered them to start an investigation, which I'm sure is enough to scare off whales trying to do it another time. It's a bit messed up to be honest, because if someone wants to dump a lot of coins then so be it, it's a free market, but Bitstamp thinks otherwise. Roll Eyes

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

legendary

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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

legendary

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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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Quote

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.

1Referee

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Quote from: Oilacris on July 03, 2019, 01:34:16 PM

I do agree that this is to shake off weak hands and accumulate much more cheaper coins and repeat the process.

The shake-off was from close to $14,000 to just under $10,000. Right now we're just seeing some genuine market activity. There is some resistance around the $12,000 level as we speak and there is more above it. The most important level in my opinion is the ~$14,000 to break through. It's something I would confidently long on Bitmex.

I really like the volumes that we are seeing. What a difference from say a month or two ago. I expect the volumes to increase even further the closer we are to the block halving.

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.

That applies to all markets. Without whales and market makers there is no market.

Red-Apple

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Quote from: STT on July 03, 2019, 02:26:39 PM

Any variation in pricing like this helps solidify pricing at a certain level between buyers and sellers so the market is more balanced then just a pure rise by itself. I drew very roughly how I view this recent pricing, its pulling back in a regular way and will move to a great extent when leaving this channel I think

an excellent point and i fully agree with it.
but what baffles me every time we have a price solidification like this, it is followed by some level of panic sell that most of the times doesn't make any sense.

UnDerDoG81

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

crairezx20

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I thought the price will continue to drop that is why I sold my altcoin and bitcoin yesterday. It seems that the market is getting back to normal again I'm sure it is because of whales who hold a large amount of bitcoin and sell to make profit and then start FUD to keep the price down so that they can buy more bitcoins at a lower price. This is an old strategy of whales and until now they are still doing this so I regret selling coins yesterday even though I'm still made a profit from holding them for a long time.

buwaytress

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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.

leowonderful

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Bitcoin FTW!

Looks even more dramatic on a higher timeframe like the 4H or 1D. I think we're currently in an area of consolidation and we'll start to see a decisive move in either direction in the next few days; personally think that this is going to turn bullish but also prepared with stops in case this slips the wrong way. Whatever happens, though, overleveraged traders will continue to be shaken out as they have been for the past few months.

STT

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Any variation in pricing like this helps solidify pricing at a certain level between buyers and sellers so the market is more balanced then just a pure rise by itself. I drew very roughly how I view this recent pricing, its pulling back in a regular way and will move to a great extent when leaving this channel I think

Oilacris

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A typical or just an ordinary day here on crypto yet the said flush isn't really that causes panic selling but somehow

I do agree that this is to shake off weak hands and accumulate much more cheaper coins and repeat the process.
We cant see for prices to shoot up forever.

Reid

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Quote from: Naida_BR on July 03, 2019, 11:12:16 AM

It sounds like you are complaining that whales got bigger now.
Actually, I am fed up with all the people who blame about panic selling and saying that whales are made bigger. You cannot define that people who sold at that level didn't make any profit.

I dont really think that is just what happened.
We dont have proof that the whales took that sold bitcoin. Yes I can say though that there are panic sellers. There will always be.
But whales getting bigger? We dont have enough accurate proof to see that.

Now, it could be a new buyer which could also panic sell again after a little pump or it could be an addition to those average amount holder of bitcoin which are also trading.

exstasie

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

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...

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

Remember though, we saw a very similar bounce off $10,300 last week. It ended up topping at $12,500 and then we dipped below $10K. In other words, we're only seeing lower highs and lower lows so far. This could be another dead cat bounce.

We need to break above $12,500 to say we're "back to normal" (trending up) again.

Adriano2010

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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.

Naida_BR

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It sounds like you are complaining that whales got bigger now.
Actually, I am fed up with all the people who blame about panic selling and saying that whales are made bigger. You cannot define that people who sold at that level didn't make any profit.

YuginKadoya

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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, And this is due to the panic sellers that always keeps the word of certain people in the market that just always saying FUD and doesn't have any faith with the platform, But there are some that is pertaining that this is a correction, Well this is just what I read in some article of a sudden drop but I guess this is a good drop to certainly make a turning point for the price to sprung back up.

Red-Apple

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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...

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

Topic: somebody pulled the flush yesterday (Read 772 times)