Topic: Stamp is Leading BTC.....That means DUMPAGE! - page 2. (Read 3699 times)

the support zone between $350 and $400 looks pretty solid though. It should once again provide the support, and as you correctly point out somewhere above $350 would be a good entry point, before the next leg up starts.

the buy point for me is going to be around $350/360

I think we will see that before we see $500 break.

bitcoin failed to take out the $465/500 top area 3 times now, the easiest path from here is down.

It all comes down to what type of trader you are. If you just buy and hold you probably wouldn't care less about this 15 usd drop (atleast I don't, better for buying more cheap coins after pay day).

If you are a day trader, these type of drops are what make you money ofcourse, there it is quite significant.

Good job on your trade Madthecat, seems like you made the good call after all.

Link to this thread   

His posts always humours me and puts a smile on my face in the morning.
I have seen this price drop in the last 3 hours by twenty bucks.

Yep....I had my exit automatically triggered whilst I slept and way too early as it turns out....but better to be cautious and take profits than greedy and risk having the whole thing come back on you....especially when playing with margin and even more so when being short on top of that.


Next Trade Idea:

https://www.tradingview.com/x/BljsrEHF/

Edit: Actually, bottom could be some way down below yet, depending on whose market action that BTC is going to conform with.

USD: https://www.tradingview.com/x/13C82bvh/

CNY: https://www.tradingview.com/x/l7BY44VD/

Nice! Did you close?

Ha!

HAHAHAHAHA!



BWHAHAHAHAHAHAHAHAHA!



FUCKING RESULT!!!

It seems OP was right about his feeling/analysis! Will be interesting to see if BTC will go down more or regain losses. I'm thinking we're in a bit of a bear market, so buckle up.

Ahhhh!!!!  This is NOT happening.  I'm down about $15 after that epic dump.  Why didn't I listen?

Surprise! I warned you all and you all ignored me. Enjoy your losses.

This 2.5K was very interesting. You have to go right down to 1 min charts to see what was happening. Steady drip feed of BTC into Ask wall in 100 bundles. This resulted in Stamp putting in a new low against the grain of other exchange price action, but since the low, there hasn't been any more 'interesting' selling patterns on Stamp. But still...things like that put the spook in me. When Stamp has these little erratic falls or jumps and, they are usually quite ominous.

More interestingly, as the HFT bots on the CNY exchanges continue to churn out their huge misleading volume, volume on Finex remains fairly thin, interspersed with some large 500 BTC dumps. These 'sells' aren't shorters either. They are either margin long dumps, or hard BTC dumps. This is also very telling trade activity.

With all things considered, I am now short:

https://www.tradingview.com/x/xDegETjp/

Edit: Since having taken the short and having posted this, I noticed another 2*100 BTC bombs getting dropped on Stamp....Finex followed the price action a few minutes later, with HUGE volume CNY exchanges chasing the 'paltry' volume USD sell-offs after that. I don't know about you guys, but I know what I have noticed in the recent past, when USD exchanges take the lead on downside action!

Someone has a big bag of BTC to sell at the moment and he wants to get as much USD for it as possible, but turn the BTC into USD, he most certainly is going to do.

Yes sorry Stamp is Bitstamp we call it this way and I always forget there can be people who are not used to it.
After this thread started I followed Bitstamp volume a little closer but I did not see much worth to be noticed.

you always have this situation that need only sell button press
but i think they are holding for now and maybe in month or two will be major dumping

Respect to not losing money!

I'm just glad your back. Spec sub forum has been so boring, at least your posts are interesting.

Actually. This selling took Stamp down by over $10 where it put in a new low. Then the whale stopped selling. Had he kept on selling, then the market would have naturally come down further still. The only person who could have possibly known how much more he was/is going to sell, or when he is going to sell it, is the whale himself. Finex followed Stamp by losing $7, with the CNY exchanges coming down an equivalent amount.

Generally, the CNY exchanges, with their massive volume always lead Bitcoin, but this time Stamp took the lead. With just 2.5K of solid selling pressure, Stamp persuaded Huobi to come down 30 CNY, clocking a massive 300K BTC in the process. So in total 3K of Stamp downside volume (including the Whales 2.5K), instigated 300K of Huobi downside volume. Eh wot!? How the fuck is that meant to make sense?

Since then...BTC has come back up, to a slightly lower level than where it was previously, with volume steadily decreasing all the time, at least on exchanges where we can trust that the volume is more or less genuine. Whether BTC goes up a bit more, or straight down from here is a guessing game. Take Stamp Whale out of the equation, and the charts suggest that BTC needs to retrace upwards a good bit more, but that all depends on what Stamp Whale wants to do next. I had to exit my position, as I didn't know how much Stamp Whale was gonna dump. I can't renter a long position here, because I still don't know how much more BTC Stamp Whale wants to dump. Might be a different story if Bitcoin had just put in a solid bottom way down the other end of the range, but fact is, we are right up the top of the range, where we have been brought on increasingly aneamic volume, apart from on the FAKE volume CNZ exchanges.

I don't care whether BTC goes up or down, I care about being on the right side of the trade and nothing more. But more important than that, is protecting my capital. My capital in USD or EUR that is, not in BTC. BTC is merely a means of increasingly my USD and EUR balance, and since I have stopped being such a fucking emotional lead n00b, and started focussing more on good trading principles, I am taking net profit from the market, slowly but surely. Look through my post history, plenty examples of winning trades that I took, which I posted in advance of them coming good. I abandoned my latest one and perhaps I will be proven wrong to have done that....but how much did I lose in doing so?.....a big fat FUCK ALL, and for me, that is the most important thing.

It is shorthand - "stamp" is Bitstamp.

Edit: I'm sure Stamp was leading when this was first posted, but a couple of hours later Finex was back ahead, same with Huobi. Temporary glitch rather than dumpage. Panic long since over.

Wow look at the daily price movement - down a massive $1.49

SUCH DUMP - PANIC - SELL EVERYTHING

Nice try

And how many did you manage to keep with your trading mentality? Or did you sell them when they dropped to 2.42 USD the week after?

In all seriousness, good buy moment you picked there, wish I was around back then, bit jealous of that price.
 

Yep....

If you had piled in when MatTheCat scratched his trade, you would be up right now, $2.64 per Bitcoin!

yes.   if matthecat is dumping that is a CLEAR BUY signal.