This is getting a bit out of hand.... - page 2.

justspare

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Quote from: jubalix on May 11, 2019, 11:52:54 AM

We need a pull back and then, on?

You must be a selfish one mate, this is a prayer or wish of a selfish cryptonian like me, I also want a pull back so I can pick another dip for the one I have sold and taken profit on. There has been some few pull back though, but it’s not enough, every time those tiny pull back comes, all we see again is a forceful push up.

I am still expecting a correction of $6000, and I am very optimistic about that always, because from that dip pull back is when we will have a very high surge in the price of bitcoin and other altcoins that are responding to bitcoin movement, bitcoin might even shoot as high as $15,000 after this pull back.

FanEagle

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Quote from: Jating on May 13, 2019, 03:36:58 AM

Quote from: Gozie51 on May 12, 2019, 03:06:28 PM

Quote from: jubalix on May 11, 2019, 11:52:54 AM

We need a pull back and then, on?

I'm surprised you are asking for a pull back rather than a continuous bull. The market is green and the ride is good for people who bought earlier. I'm guessing you want to buy and expecting price to drop back Grin

It's normal, we don't have to see parabolic rise, most of the time we need some healthy pullback so that investors who wants to invest can get it again when it dip.

Currently there is strong support around $7k, but who knows, maybe it can still go down to levels we wouldn't thought possible at the current sentiments of the market.

This is the fact that many people don’t know and when we talk about a pull back, they see the speculator as anti bitcoin or an FUD news carrier, but not everyone that says something about bitcoin downtrend has a bad mind.

Just like you said, this pull back is necessary for investors that are yet to invest, and some existing investors that are taking profit shortly, because once they pull out at a certain spot, they need a pull back for them to be able to gain entrance to the market again. We have always been seeing these pull back naturally, probably we have not been paying much attention to it due to time difference.

arpon11

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Quote from: jubalix on May 11, 2019, 11:52:54 AM

We need a pull back and then, on?

Sir, with all due respect can you state the reason why it is very important bitcoin or others coins need a pull back before taking off again.
To me bitcoin is in good condition and it is better for it to remain in bullish conditions than bearish conditions at the moment. Many people wish it dead and some want bitcoin as a commodities but we the enthusiast what to make a point and that is bitcoin become the major currency in the world and as such we need it to be strong against other major currency. If we need it as a commodities we would wish it pull back so we can buy cheap and makes profits when it grow but if it is to serve as money then it need to grow to some level and remain stable.

Indrawan77

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Quote from: leowonderful on May 13, 2019, 04:37:55 PM

Crazy. We just busted through $8k like it was nothing coming from the upper $6ks today, already past $8k now on Mex ($8100 currently), still adhering to my trading plans and not trying to alter them as much as possible but I'm also not completely closing my positions just in case things blast through faster than expected, volume has also been rising in the last few days on most exchanges with Bitmex at nearly $9B volume yesterday and 6B today, with the day not over yet. Buying pressure's still not letting off yet as well. Truly surprised momentum's been so strong for so long here.

Its a bit wild I think, the price just keep on going higher without any clear reason, the transaction volume also keep on accumulating, we need to be careful on the pullback, recently there was a minor pullback, but I think there will be more pullback unless there are more clear reason behind this rising, the price is moving up too fast and usually this could end up with fast and deep correction

figmentofmyass

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Quote from: gentlemand on May 13, 2019, 04:29:10 PM

I don't think mom and pop, or your asshole workmate, are in on this.

The whole thing was kicked off by those coordinated monster buys a few weeks back. Either someone somewhere knows something we don't yet, or they want everyone else to believe that. I for one never expected anything like this and it looks like very few others did too.

this definitely isn't mom and pop. they generally don't enter until the later stages of a bubble.

re the monster buys, that was just smart whales who were following the path of least resistance. OTC supply was probably drying up. to big players privy to much better information than us plebs, the upcoming move was probably fairly obvious. they were just capitalizing on it, on bitmex obviously since the buys were coordinated across kraken, bitstamp, and coinbase pro.

leowonderful

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Bitcoin FTW!

Crazy. We just busted through $8k like it was nothing coming from the upper $6ks today, already past $8k now on Mex ($8100 currently), still adhering to my trading plans and not trying to alter them as much as possible but I'm also not completely closing my positions just in case things blast through faster than expected, volume has also been rising in the last few days on most exchanges with Bitmex at nearly $9B volume yesterday and 6B today, with the day not over yet. Buying pressure's still not letting off yet as well. Truly surprised momentum's been so strong for so long here.

gentlemand

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Welt Am Draht

I don't think mom and pop, or your asshole workmate, are in on this.

The whole thing was kicked off by those coordinated monster buys a few weeks back. Either someone somewhere knows something we don't yet, or they want everyone else to believe that. I for one never expected anything like this and it looks like very few others did too.

$10,000 is the level I'm most interested in considering it got within $10 of it on a blip on the way down and never approached it again until now. If it slices through that something very odd is going on.

Who's your fave candidate for weird conspiracies? You can never, ever go wrong with Btifinex.

BUK2016

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Quote from: Adriano2010 on May 12, 2019, 12:54:52 PM

I don't think the price will drop so much, i think is only some pull back but the price will not drop much more in my opinion even if go a bit down, we are at 6900$ now.

I don't think that the market price of Bitcoin will drop soon to like $6000 or there about in the coming weeks or so. This is because, the rate at which Bitcoin has increased now except if something negative will happen and can influence the market negatively only then we could see a serious downward trend.

exstasie

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Quote from: asche on May 13, 2019, 02:08:53 PM

Quote from: exstasie on May 13, 2019, 10:31:38 AM

I was planning to sell near $8K. Now I'm not so sure.

Classic FOMO.

Define your investment plan and STICK TO IT.

*Not an investment advice.

Not really, classic FOMO would be blindly buying based on hype with no plan. I'm just revising targets higher because momentum is strong. Selling $8K was never a hard plan for me; in fact the original plan was to sell $6K. I don't regret revising my target higher back then either. My trading strategy is to let winners run and cut losers quickly. I've been riding this since the low $3,000s so I've got plenty of wiggle room.

Also, I've been around since 2013 and I will say, it's always good to second guess your plans to sell spot BTC and assess the likelihood that you'll ever be able to recover your coins again.

2chase

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I think that we should not count on the fact that in the next month Bitcoin will roll back down very strongly. All who, by their naivety, sold their coins when it cost 6000, - probably, they can never again to buy Bitcoin cheaper than 6300-6500. In the next six months, I expect Bitcoin to continue to conquer the level of $ 10,000.

El duderino_

legendary

Activity: 2688

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BTC + Crossfit, living life.

BTC never gets out of hand and isn't made to be controlled ..... It will follow its own pad more and more, btw let the FOMO kick in new strong hands and new idiots that will panic sell @the wrong time.....

asche

legendary

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I forgot more than you will ever know.

Quote from: exstasie on May 13, 2019, 10:31:38 AM

I was planning to sell near $8K. Now I'm not so sure.

Classic FOMO.

Define your investment plan and STICK TO IT.

*Not an investment advice.

exstasie

legendary

Activity: 1806

Merit: 1521

Quote from: fabiorem on May 13, 2019, 10:21:14 AM

My guess is that the price will top 8k in a few days, then drop 15% to $6800, or 30% to $5600. I dont believe we will drop more than 30%. In any case, BTFD.

I was planning to sell near $8K. Now I'm not so sure. I can't remember when I last saw price action so strong. Not since 2017, I think.

If we keep rising with this sort of momentum, we'll definitely see a >30% pullback eventually since we're not establishing any support levels on the way up.....we're just going straight up. During the 2017 bubble, we saw several 33%-40% pullbacks so it would be totally normal.

thecodebear

hero member

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damn and it just now popped up a few hundred more to $7800 on coinbase right now! CMC over $7700

BTC marketshare about to hit 60% again for the first time since late 2017!

fabiorem

sr. member

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My guess is that the price will top 8k in a few days, then drop 15% to $6800, or 30% to $5600. I dont believe we will drop more than 30%. In any case, BTFD.

figmentofmyass

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Quote from: hugeblack on May 13, 2019, 06:27:19 AM

The puzzling question is what is the reason for all this rise ?, Even the best optimists did not expect to return to $ 6,000 levels during this month.

or $7500 levels either! Tongue

the market was obviously much more heavily oversold than we thought. the ask side has been extremely thin during a time when shorts were extremely high. these conditions created a perfect storm as market demand began spiking upwards. strong demand + weak supply = big pumps.

Quote from: hugeblack on May 13, 2019, 06:27:19 AM

The situation now looks stable but remember that there is a historical resistance barrier at $ 6,700 so the scenario is open between $ 6,000 and $ 8,000. I do not expect to settle at 6,000.

i'm in agreement with masterluc---this move is far too strong on the daily/weekly chart to try calling the top here.

thecodebear

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I would assume more of a pullback is coming, but who knows. When it hit $6400 I figured it'd pull back to around $5600-$5800 before moving above $6k for good, but instead it shot up another $1000 very quickly. We got a brief pullback to high $6000s and now its rallying again to mid-7000s. I gotta figure it'll slow down and maybe level out in this level for a bit, or possibly spend some time in the 6000s. I mean it only spent what like a day in the 6000s - just shot straight though it.

If you look at the start of the last bull market, after the initial pop up out of the bottom (like we had on april 1st) it corrected down and then a few weeks later popped up even higher and kept that price. That's essentially what's happened so far. April 1 pop out of the bottom to start the bull market, it didn't really correct from there but just held price basically and slowly gained for a month before we got this next pop. Maybe we'll see this price stabilize around here for a bit before then gradually starting to move up, or maybe it'll do a series of little explosions like this with stabilizing in between for several weeks. Anyone, exciting to see what happens. Fun to watch the net worth shoot up after accumulating at the bottom all winter!

1Referee

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Bitmex has done more volume than ever before with +$10 billion in a single day. This is indeed leveraged volume, where as per the average leverage used 8-10x the actual volume is $1 billion at minimum. This is absolutely crazy. The thin spot markets are working in favor of Bitmex with how we're bouncing up and down like $400-$500 as if it is nothing.

People were screaming for a bull run before the price took off, they didn't get it. People right now are screaming for a correction, and they in a similar way might not get it. It would make sense based on the technicals to see the price correct, but the price has done nothing but ignore the technicals in the last few weeks.

Right now I'm just chilling and ejoy looking at the live charts. Cheesy

YuginKadoya

legendary

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It can sure pull back anything is possible bitcoin is unpredictable but we can never call it out of hand, Bitcoin is expected to have this kind of movement and that is the bull run, But the unpredictableness of Bitcoin can sure what the traders and investors like about it and even if the price is spiking up it can still go down a bit whenever some whales sell some bitcoin or a bad news might happen to some exchange like what happen to Binance or government that is banning the use of cryptocurrency, Volatileness can sure give cryptocurrency the edge why many like it.

BitcoinHodler

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HODLing is an art, not just a word...

i wouldn't really call this "getting out of hand" because we have a long way to go before we reach that crazy stage where price shoots up unexpectedly without any reason and we wouldn't be able to explain it in any ways. right now this rise was not only well expected but also anticipated and explainable. not to mention that it isn't that big a rise to begin with. a small 10-15% rise in a couple of days after months of big crazy drops to unexpected lows is just a natural course of the market correcting itself.

Topic: This is getting a bit out of hand.... - page 2. (Read 814 times)