Third time is the charm, shorters failed yet another time

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Quote from: pooya87 on August 19, 2021, 11:51:21 PM

Quote from: bbc.reporter on August 19, 2021, 11:06:48 PM

@pooya87. This might be another argument for another dump that will be traded by shorters. The volume is declining which I speculate this pump might only be a manipulated move by shorters to prepare bitcoin for another dump. This is only my speculation, I am not antagonizing.

I don't like using volume as an indicator, it is always wrong in my experience.
In any case the drop already happened during the past couple of days trapping the bears who refused to change their stance. Going back to $47k is a good sign that the upward momentum is still very strong.
I also don't see any big spikes in number of shorts to indicate shorters are preparing for anything. I think they lost enough to be discouraged to do so.

Quote

Some of the projects might be scams, however, the technological development is not a scam.

Could you show me some "tokens" that "developed" any "technology"?!!!

I reckon similar to how bitcoin has developed a concept of money created and issued without the regulators’ permission, the concept of Defi currency coversions and store of value concepts on NFT might be new technological developments that can be positive.

In any case, we are off topic.

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Quote from: zanezane on July 25, 2021, 04:23:19 AM

We will probably see another of this shorters commit suicide because they shorted the price at the wrong time. I just hope that anyone can profit out of all the situation in the prices. Also, the shorters probably didn't have in their calculations added that Elon and Dorsey's talks would make a good effect to the market.

Big effects will happen if they don't stop this greed, it will affect the state of bitcoin, the market and the condition of any altcoin, although for bitcoin it doesn't have much or big effect.

I'm still wondering at this time, is it true that Elon Musk and Dorsey's big influence can make certain crypto or coins go up or down, at this time I don't have a definite answer, even many people say it's just based on their own thoughts.

pooya87

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Quote from: bbc.reporter on August 19, 2021, 11:06:48 PM

@pooya87. This might be another argument for another dump that will be traded by shorters. The volume is declining which I speculate this pump might only be a manipulated move by shorters to prepare bitcoin for another dump. This is only my speculation, I am not antagonizing.

I don't like using volume as an indicator, it is always wrong in my experience.
In any case the drop already happened during the past couple of days trapping the bears who refused to change their stance. Going back to $47k is a good sign that the upward momentum is still very strong.
I also don't see any big spikes in number of shorts to indicate shorters are preparing for anything. I think they lost enough to be discouraged to do so.

Quote

Some of the projects might be scams, however, the technological development is not a scam.

Could you show me some "tokens" that "developed" any "technology"?!!!

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@pooya87. This might be another argument for another dump that will be traded by shorters. The volume is declining which I speculate this pump might only be a manipulated move by shorters to prepare bitcoin for another dump. This is only my speculation, I am not antagonizing.

In any case, on your comment about Ethereum, Binance or Solana, I reckon it is very arguable if you say it only got big because of scams. Scam is a word that is very lightly used in the cryptospace by maximalists when they describe coins that is not bitcoin. Some of the projects might be scams, however, the technological development is not a scam. They might be misunderstood.

pooya87

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Quote from: adaseb on August 16, 2021, 11:48:04 PM

~
I don't think its the pumping groups which are pumping alts like SOL or AXS or SAND. Those coins have large market caps and I just don't think they got enough capital (even with leverage) to be able to pump an altcoin like that. Those groups they generally pump some really dead low volume altcoins. Traders see that it went up 100% in 24 hours and they go chasing it, however thats usually when the pump groups get out.

I think when these coins get pumped its usually some large whales behind the moves. Sometimes they got some insider knowledge that is reviled a few days later and you can clearly see that it got leaked. However its crypto so most likely no regulation into that. So thats when the retail people buy the alt coin and thats when it starts to drop all of a sudden.

That's true but I was mostly talking about the profit part, meaning if you want to make quick profit from trading altcoins there are dozens of them being selected every day to see massive pumps. There is no need to sit on some arbitrary shitcoin hoping for the big rise.

Quote from: bbc.reporter on August 17, 2021, 11:30:49 PM

I speculate Solana will be the next big smart contract platform after Ethereum and Binance smartchain.

The only reason why ETH got big was because it suddenly provided an easy way for scammers to create garbage and sell it for millions. This is not something that can be repeated which is why all the subsequent smart contract platforms couldn't become big even those that don't have the fundamental flaws of shitherium.
Binance coin is also hyped because there is a multi million company pumping it and creating incentive for the users to buy this centralized altcoin.

... in any case we are now going off-topic Tongue

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Quote from: pooya87 on August 16, 2021, 11:37:49 PM

Quote from: bbc.reporter on August 16, 2021, 09:17:19 PM

projects in the Solana ecosystem. They presently appear to be having the strongest pumps.

There are always a ton of shitcoins that are getting big pumps every day. That has been the altcoin market trend for as long as it has existed. The pumping [scam] groups don't just sit around waiting for some big shitcoin to go up, they go around and select these shitcoins at random every day and pump the hell out of them then take their money and move to the next shitcoin by dumping the old one.

I reckon similar to the word scam, the word shitcoin is used very lightly on some altcoins that are arguably not shitcoins. I would agree depending on which of the altcoins you would call shitcoins, however.

@leea-1334. I speculate Solana will be the next big smart contract platform after Ethereum and Binance smartchain. It is supported by Sam Bankman-Fried, CEO of FTX, the Binance exchange killer hehehe.

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Quote from: bbc.reporter on August 16, 2021, 09:17:19 PM

@leea-1334. I reckon if the downward volatility is beginning to give you a bad day, you should reduce your position hehe. However, what do you do to those profits if the market remains a bull market? If reinvesting I would suggest look into the projects in the Solana ecosystem. They presently appear to be having the strongest pumps.

I am never a trader, my position is always to add,,, and in the sense that dips happen I enjoy them which is why I do not want to see markets go up too fast, because then I do not have enough time to add to my holding haha.

Solana? I will pass thank you:) Show me 10 users and I change my mind:P

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Quote from: pooya87 on August 16, 2021, 11:37:49 PM

Quote from: bbc.reporter on August 16, 2021, 09:17:19 PM

projects in the Solana ecosystem. They presently appear to be having the strongest pumps.

There are always a ton of shitcoins that are getting big pumps every day. That has been the altcoin market trend for as long as it has existed. The pumping [scam] groups don't just sit around waiting for some big shitcoin to go up, they go around and select these shitcoins at random every day and pump the hell out of them then take their money and move to the next shitcoin by dumping the old one.

I don't think its the pumping groups which are pumping alts like SOL or AXS or SAND. Those coins have large market caps and I just don't think they got enough capital (even with leverage) to be able to pump an altcoin like that. Those groups they generally pump some really dead low volume altcoins. Traders see that it went up 100% in 24 hours and they go chasing it, however thats usually when the pump groups get out.

I think when these coins get pumped its usually some large whales behind the moves. Sometimes they got some insider knowledge that is reviled a few days later and you can clearly see that it got leaked. However its crypto so most likely no regulation into that. So thats when the retail people buy the alt coin and thats when it starts to drop all of a sudden.

pooya87

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Quote from: bbc.reporter on August 16, 2021, 09:17:19 PM

projects in the Solana ecosystem. They presently appear to be having the strongest pumps.

There are always a ton of shitcoins that are getting big pumps every day. That has been the altcoin market trend for as long as it has existed. The pumping [scam] groups don't just sit around waiting for some big shitcoin to go up, they go around and select these shitcoins at random every day and pump the hell out of them then take their money and move to the next shitcoin by dumping the old one.

bbc.reporter

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@leea-1334. I reckon if the downward volatility is beginning to give you a bad day, you should reduce your position hehe. However, what do you do to those profits if the market remains a bull market? If reinvesting I would suggest look into the projects in the Solana ecosystem. They presently appear to be having the strongest pumps.

leea-1334

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Quote from: bbc.reporter on August 15, 2021, 10:36:10 PM

@pooya87. There might be a fourth time hehe. There might also be many people that might say I am antagonizing again, however, the resistance near $50k is very strong. There is also a bearish divergence. This might imply another dump before it can pump, I reckon.

It all depends on how US reacts today I guess when us Asians close down and they take over,,, take profits easy a 47.5? Or buy in more in wait for the reverse to happen and 50k onwards?

The best thing about the dumps now is they are not even 5% losses at the time being, which is totally incredible if you think about it:)

pooya87

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Quote from: Tytanowy Janusz on August 15, 2021, 07:36:22 AM

It doesn't look to me that they "truly got REKT" during this third wave.

This wasn't all about making profit, although many of them did indeed lose a lot of money in each of these spikes. This was all about pushing the price below $30k and crashing the market further as panic sells follow.
Also as the charts show all the drops are mainly happening because the "borrowed bitcoins" are being dumped on the market not because it is naturally going down. So this was a failed attempt where they wasted nearly 3 months and millions of dollars without any results.

adaseb

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I've been following these BTCUSDSHORTS for a while and I am still puzzled to this day why they opened and closed them a few days later. Was it an actual short and not some delta neural move ( short on one exchange and long on another)? Hard to tell.

Did they make money, looks like they did however very little in terms of %'s. Seemed very risky to open such a big short on a medium type of exchange (in terms of volume) and get short squeezed badly.

Its possible that they did this to get media exposure and get many traders to follow their lead and short and they had longs open on another exchanges. So they just wanted to create liquidity and get their longs filled. Looks like there were huge dumps shortly after which were filled pretty quick and price rebounded.

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@pooya87. There might be a fourth time hehe. There might also be many people that might say I am antagonizing again, however, the resistance near $50k is very strong. There is also a bearish divergence. This might imply another dump before it can pump, I reckon.

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Quote from: buwaytress on August 15, 2021, 07:43:34 AM

Quote from: pooya87 on August 14, 2021, 11:59:48 PM

I though I update this topic with the aftermath picture of what happened. The third time was indeed the charm and the shorters truly got REKT so the price started rising up. Although the data shows that there are still some traders that remain in denial and don't want to accept that they have been going against the market trend for so long.

All that's left now is getting rid of this "reverse bubble" by reaching $60k again. I admit that it has taken a bit longer than I expected but it is happening nonetheless.

Yeah, actually, you even see some of that denial in alt trading as well (don't ask me why I'm there, it's work, heh). "Bitcoin's done all it can, alts takes over from here", that kind of talk. Getting people to trade their BTC for the promised land of altseason.

And they may have made money each of these cycles in your charts. 10% here, 20% there vs BTC.

But once the reverse bubble as you say happens, the rekts happening to the alt-BTC shorters as well.

Yeah unfortunately there are way too many people like that out there, it is easy to belong to a "camp" basically, because you can be someone there as well, it is the thing that I realized in the crypto world, you become someone and that is a very important part of it. In the bitcoin world you will not be someone important, nobody will care who you are, you are not going to be a person who gets hears.

However if you end up investing early into pancakebunnybabydogeshiba.finance or whatever is the new thing these days (lol that sounds like a possibly true thing eventually) then you will be a person who gets heard in the telegram group of it, maybe the person who wrote the most message, maybe the guy with twitter influence on it, and that is kind of important. People think that everything is about the profit, but I have seen people who stuck to horrible stuff even while losing money because they were in a powerful position in it.

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Quote from: pooya87 on August 14, 2021, 11:59:48 PM

I though I update this topic with the aftermath picture of what happened. The third time was indeed the charm and the shorters truly got REKT so the price started rising up. Although the data shows that there are still some traders that remain in denial and don't want to accept that they have been going against the market trend for so long.

All that's left now is getting rid of this "reverse bubble" by reaching $60k again. I admit that it has taken a bit longer than I expected but it is happening nonetheless.

Yeah, actually, you even see some of that denial in alt trading as well (don't ask me why I'm there, it's work, heh). "Bitcoin's done all it can, alts takes over from here", that kind of talk. Getting people to trade their BTC for the promised land of altseason.

And they may have made money each of these cycles in your charts. 10% here, 20% there vs BTC.

But once the reverse bubble as you say happens, the rekts happening to the alt-BTC shorters as well.

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Quote from: pooya87 on August 14, 2021, 11:59:48 PM

I though I update this topic with the aftermath picture of what happened. The third time was indeed the charm and the shorters truly got REKT so the price started rising up.

It doesn't look to me that they "truly got REKT" during this third wave.

Trying to estimate average short open prise as best as I can I would say its $33500, average short close 31500-32000. So shorters earned during this short pump ~5% from 15 000BTC = 750BTC in profit. I would love to be REKTed like that

Quote from: pooya87 on August 14, 2021, 11:59:48 PM

Although the data shows that there are still some traders that remain in denial and don't want to accept that they have been going against the market trend for so long.

Its chart from bitfinex only. And this moves on your chart after third try are 100 BTC moves. This fourth try from on the 9th of August has only 500 BTC in short increase. This chart has really negligible value in any analyzes when "bitfinex whale" is not shorting.

Quote from: Tytanowy Janusz on July 25, 2021, 06:40:00 AM

Those massive spikes of shorts (10-20k BTC) looks like being done by single identity.

I wish to have such chart from all exchanges not only bitfinex. Especially Binance, Bybit, Huobi, Bitmex.

Lucius

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I don’t mind everyone having their own opinion, yet we’re not like Borg in some collective consciousness - but I really don’t understand all those who have persistently said in the last few months that the bull run is over and there will be no new ATH. If nothing else, at least halving has always been a good indicator to predict in which direction the market will move.

I somehow believed that the trend would change probably in September or October, but it happened a little earlier - which surprised some experts who have already prepared apocalyptic articles on how Bitcoin is on its way to $10k.

pooya87

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I though I update this topic with the aftermath picture of what happened. The third time was indeed the charm and the shorters truly got REKT so the price started rising up. Although the data shows that there are still some traders that remain in denial and don't want to accept that they have been going against the market trend for so long.

All that's left now is getting rid of this "reverse bubble" by reaching $60k again. I admit that it has taken a bit longer than I expected but it is happening nonetheless.

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Quote from: Lucius on July 26, 2021, 08:30:39 AM

It is only a matter of time before the price rises above that point again, although I was convinced that it would not happen until September. But stability is not something that adorns Bitcoin, if it was not possible to lower the price below $29k, with a little good news the trend reversed - so if nothing else, all those who wondered if the bull market was over got their answer.

It is looking bright for bitcoin even before your September speculation. The wonderers and speculators may not be taking out of trend before now as we all saw it dropping in our eyes . Now things started turning around from one news to another and that has broken even $36k. The bull is gradually turning up, Elon musk is such a manipulator such that his followers are just reading to dance to his tweet.

Topic: Third time is the charm, shorters failed yet another time (Read 337 times)