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Topic: this is insane again - page 2. (Read 7010 times)

legendary
Activity: 2492
Merit: 1473
LEALANA Bitcoin Grim Reaper
April 17, 2013, 04:00:20 PM
#50
This whole crash was a bear trap, just watch  Wink

If last week's action was a bear trap, four digits will be a strong possibility. If the mentioned action wasn't a bear trap but some large insider selling, in this scenario we'll have a healthier market in the long run, still we'll see four digits but it'll take more time to reach that levels. What do you think?

4 digits either way. The only question is this year or the next one. And I do not care much what is the answer to this question.


+1 That is my bet too.

+ (4+ digits)
full member
Activity: 233
Merit: 101
April 17, 2013, 03:03:46 PM
#49
This whole crash was a bear trap, just watch  Wink

If last week's action was a bear trap, four digits will be a strong possibility. If the mentioned action wasn't a bear trap but some large insider selling, in this scenario we'll have a healthier market in the long run, still we'll see four digits but it'll take more time to reach that levels. What do you think?

4 digits either way. The only question is this year or the next one. And I do not care much what is the answer to this question.


+1 That is my bet too.
member
Activity: 70
Merit: 10
April 17, 2013, 02:02:01 PM
#48
Like I said yesterday, this are looking pretty hopeful, actually.  Again, the price is going to wiggle and wobble (pretty significantly compared to most other markets) on its way back up, but I do think the bottom was put in place.

I won't disagree with you. Things will get interesting. I was hoping for more doom and gloom first.


full member
Activity: 181
Merit: 100
April 17, 2013, 01:36:50 PM
#47
Like I said yesterday, this are looking pretty hopeful, actually.  Again, the price is going to wiggle and wobble (pretty significantly compared to most other markets) on its way back up, but I do think the bottom was put in place.

This is insane indeed. Proudhon not spreading doom and gloom? Oh my, I need to meditate on this.
full member
Activity: 151
Merit: 100
April 17, 2013, 01:29:33 PM
#46
Like I said yesterday, this are looking pretty hopeful, actually.  Again, the price is going to wiggle and wobble (pretty significantly compared to most other markets) on its way back up, but I do think the bottom was put in place.

Welcome back to the bull side proudhon, we missed you here. I hope your cold storage is safe and sound Smiley
sr. member
Activity: 361
Merit: 250
April 17, 2013, 01:22:46 PM
#45
Yep we are getting trapped all the way from 0.01$, 0.10$, 1.00$ etc...


BTW is there some shorting going on at clones of Bitcoinica somewhere? A short squeeeeeeze could be spectacular.



Bitfinex.com
legendary
Activity: 2198
Merit: 1311
April 17, 2013, 01:21:02 PM
#44
Like I said yesterday, this are looking pretty hopeful, actually.  Again, the price is going to wiggle and wobble (pretty significantly compared to most other markets) on its way back up, but I do think the bottom was put in place.
member
Activity: 70
Merit: 10
April 17, 2013, 01:03:50 PM
#43
Yep we are getting trapped all the way from 0.01$, 0.10$, 1.00$ etc...


BTW is there some shorting going on at clones of Bitcoinica somewhere? A short squeeeeeeze could be spectacular.


Really in the past six days you've bought at .01, .10, and 1.00?  Can I have the name of your exchange please?  I've been buying since $14 and bought at $71.  My only two sells ever were 20% at $103 and 80% at $230.  You guys need to stop seeing everything in bull/bear and start reading.  Your religion over Bitcoin is clouding your ability to comprehend and read.

Just because I point out bulltraps as defined by traders worldwide doesn't mean I'm a bear or on the other side from you.

Most on this forum acts as if it's black and white (bulls vs bears). I was extremely bullish at $13.50 due to imminent media coverage. I was extremely bearish over $145 (even though I realized and posted that if we broke $145 we were headed much higher after which we would burst violently). I am somewhat medium-term (2-3 year) bullish on the concept but believe the case for single digits is more likely than the case for $1000. Single digits is probably unlikely in the short-term, but IMO $150 is also very unlikely.

Proudhon has been a perma-bear but became bullish @ $50 because he clearly internalized something that changed his mind. It doesn't matter if he's right, at least he's thinking rationally. It makes no sense to be firmly in either camp unless one is a fully indoctrinated long-term holder who doesn't pay attention to the day-to-day minutae (and probably would not even be on this thread). The religious fervor and polarity on this site are interesting. I can't tell if it's religion or just the run-of-the-mill hyper-speculation that one finds on penny stock forums.

The bulls here seem to all be perma-bulls. Permabulls & permabears will always be right at some point. I'm more interested in reality based assumptions and predictions.

legendary
Activity: 1148
Merit: 1018
April 17, 2013, 11:59:16 AM
#42
This whole crash was a bear trap, just watch  Wink

If last week's action was a bear trap, four digits will be a strong possibility. If the mentioned action wasn't a bear trap but some large insider selling, in this scenario we'll have a healthier market in the long run, still we'll see four digits but it'll take more time to reach that levels. What do you think?

4 digits either way. The only question is this year or the next one. And I do not care much what is the answer to this question.


Let's see how soon we break $100 and then $130. I believe this crash was needed and very healthy, parabolic growth is unsustainable. We need weak hands selling at their b/e point.
hero member
Activity: 840
Merit: 1000
April 17, 2013, 11:57:04 AM
#41
Wish more folks would switch from MTGOX though... you'd think we'd have learned that by now...

Right. What's a better exchange?
legendary
Activity: 2156
Merit: 1018
Buzz App - Spin wheel, farm rewards
April 17, 2013, 11:55:40 AM
#40
Wish more folks would switch from MTGOX though... you'd think we'd have learned that by now...
full member
Activity: 168
Merit: 100
April 17, 2013, 11:39:36 AM
#39
This whole crash was a bear trap, just watch  Wink

Been saying this since last week "largest Shakedown in bitcoin History"
sr. member
Activity: 308
Merit: 250
ancap
April 17, 2013, 11:35:49 AM
#38
This whole crash was a bear trap, just watch  Wink

If last week's action was a bear trap, four digits will be a strong possibility. If the mentioned action wasn't a bear trap but some large insider selling, in this scenario we'll have a healthier market in the long run, still we'll see four digits but it'll take more time to reach that levels. What do you think?
legendary
Activity: 1400
Merit: 1013
April 17, 2013, 11:31:42 AM
#37
This whole crash was a bear trap, just watch  Wink
From this point of view it just looks like a minor speedbump:

http://bitcoincharts.com/charts/mtgoxUSD#igWeeklyztgSzm1g10zm2g25zl
member
Activity: 224
Merit: 10
April 17, 2013, 11:24:07 AM
#36
hero member
Activity: 840
Merit: 1000
April 17, 2013, 11:21:06 AM
#35
sold some coin at mid-90s that I bought at $60 during the crash. I don't think we're breaching $100. Feels like it's going to drop down to $70s later.
legendary
Activity: 1260
Merit: 1000
Drunk Posts
April 17, 2013, 11:10:48 AM
#34
This whole crash was a bear trap, just watch  Wink
full member
Activity: 218
Merit: 100
April 17, 2013, 11:09:45 AM
#33

Bulltrap - A false signal indicating that a declining trend in a stock or index has reversed and is heading upwards when, in fact, the security will continue to decline.

How are those not bull traps exactly based on the investopedia definition?  We are at $89 and I posted the chart at $93, sorry that is not up.

One thing I've noticed is that about 80-90% of the people in these fora are using the terms "bull trap" and "bear trap" incorrectly (e.g., 6 out of the last 8 times I've noticed the term).  They are using them to mean exactly the opposite of the investopedia definition.  I'm by no means an expert invester, but even I know what these terms mean.

As to whether or not these are actual bull traps or just normal volatility for a small cap asset that has just crashed due to market manipulation and is returning to its true value is hard to say at this point.  This (long-term) bull hasn't been trapped yet over the past 4 days -- quite to the contrary.
legendary
Activity: 840
Merit: 1000
April 17, 2013, 10:39:24 AM
#32
Its up from yesterday and everyone will agree with that. $93 to $89 is an laughably short time period, minutes.

Every time the price goes up the bulls run to the forum saying omfg the price is going back up buy buy buy.  Sounds like a bunch of bulls getting trapped.  


The price has been declining and is down form $260-$89 in only 6 short days.  I love how you say that minutes is a laughably short time period immediately after talking about the price being up for one day.  My point was that the price has only been going up for 2 days compared to down for a week.  

The $93 to $89 was simply me showing that I spotted another bull trap breaking when I put the black dot at $93.  By the way we are now at $87.  You are intentionally confusing two distinct points to try to prove your argument.

I agree that this could turn out to be a bulltrap. I'm hopeful it isn't and it doesn't look like it so far to me. But a day is 1440 minutes, not the 10 or so you were using. I'm not a more of a bull bear than anything. I just try to be reasonable. It doesn't matter if a bunch of forum junkies pile on being happy about the slightest increase in price if they are unaware that a downward channel is forcing us down. So many newbs joined on here in the last two weeks it is bloody painful to read these forums sometimes.

In your reply you said it was 87, like somehow that supported your argument to use a short timeframe again. Its at 94 now so I must be right by this methodology. But Im not yet because the price fluctuates like that all the time. By that methodology every time the price goes up it would be a bulltrap, and every time it goes down it would be a beartrap. This could still be a bulltrap but I'll still say those other dots were just market zigzag in a down channel without any real bottoming action.

sr. member
Activity: 252
Merit: 250
a wolf in sheeps clothing. suckerfish
April 17, 2013, 10:37:02 AM
#31
We were in a downward channel for like a week, no real bulltraps from what I see. Now we are in an upward channel and broke straight through the previous downward channel after what many are thinking was a double bottom in the 50s.

I look at the past 5 days and I see a bulltrap everyday.  Based on the selloff that just happened this one might be about to break.  We are at 92.9 right now for reference.



the 3rd one edned 18 dollars higher..... how is that a bull trap. it has to end lower that the original. no bull trap there.
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