Topic: this is insane again - page 3. (Read 7010 times)

Quote from: Wuji on April 17, 2013, 09:34:41 AM

Quote from: NamelessOne on April 17, 2013, 09:26:55 AM

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.

LOL. Don't you see some change and some difference in your "bullcrap" pattern? Could you possibly observe how "lower lows and lower highs" has changed to "higher highs and higher lows"?

The pointy bits also switched from the bottom to the top of the line. I'm not sure what's going to happen but I don't think I'm going to be able to buy any of my bitcoins back at the price I sold them. So I bought some Iron Maiden tickets instead Cheesy

Wuji

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Quote from: Rampion on April 17, 2013, 10:18:27 AM

Quote from: Wuji on April 17, 2013, 10:16:21 AM

Quote from: Rampion on April 17, 2013, 10:13:29 AM

Quote from: Wuji on April 17, 2013, 10:16:21 AM

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.

At what point would you buy in again?

I said last week after the bubble burst a minimum of two weeks. I did buy some at $71 last week because I hate not having coin and I do use them often. I don't have a price point to buy in because the price is controlled by speculation and not value. I'm still waiting to see if volatility will continue or if the price will stablize so another week may not be enough time. I'm more likely to buy based on news about the adoption of bitcoin than a price point. OKCupid has not be very focused on profit and does not give me reason to buy in today.

Well, I can bet we will have a lot of volatility mid term. I can feel the pain of the ones that have hundreds of thousands of $ blocked in the fractional reserve system of MtGox. It's easier to buy back the BTC to take them out from Gox, that sucks.

Agreed I had MtGox issues and got my money out. I went to using BTC-E but, obviously it isn't ideal. MtGox has really taken some steam out of me as I don't 100% trust them and it makes me sad they shutdown and can't handle traffic. I work for a huge hosting company with data center space on wall street. A serious exchange could handle the DDOS and the "success".

Rampion

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Quote from: Rampion on April 17, 2013, 10:13:29 AM

Quote from: Rampion on April 17, 2013, 10:13:29 AM

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.

At what point would you buy in again?

I said last week after the bubble burst a minimum of two weeks. I did buy some at $71 last week because I hate not having coin and I do use them often. I don't have a price point to buy in because the price is controlled by speculation and not value. I'm still waiting to see if volatility will continue or if the price will stablize so another week may not be enough time. I'm more likely to buy based on news about the adoption of bitcoin than a price point. OKCupid has not be very focused on profit and does not give me reason to buy in today.

Well, I can bet we will have a lot of volatility mid term. I can feel the pain of the ones that have hundreds of thousands of $ blocked in the fractional reserve system of MtGox. It's easier to buy back the BTC to take them out from Gox, that sucks.

Wuji

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Activity: 56

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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.

At what point would you buy in again?

I said last week after the bubble burst a minimum of two weeks. I did buy some at $71 last week because I hate not having coin and I do use them often. I don't have a price point to buy in because the price is controlled by speculation and not value. I'm still waiting to see if volatility will continue or if the price will stablize so another week may not be enough time. I'm more likely to buy based on news about the adoption of bitcoin than a price point. OKCupid has not be very focused on profit and does not give me reason to buy in today. I'm still doing a lot of research on that and check the news for annoucments about Bitcoin every couple hours that I'm awake. I'll post to the forums once I make a decision to do anything. I always document what I do here as I do it. So far my return on Bitcoin is 1600% in 2 years and I'm happy with it.

Rampion

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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.

At what point would you buy in again?

Wuji

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Activity: 56

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Quote from: Wuji on April 17, 2013, 09:48:38 AM

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.

niko

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There is more to Bitcoin than bitcoins.

Quote from: NamelessOne on April 17, 2013, 09:57:39 AM

Nice times to rake some profit daytrading. Never did that actively, but its very profitable indeed Cheesy

Been daytrading for over 15 years and I have to say I have yet to see anyone get rich at it. Lot's of guys who made a quick million and then lost it all though. You can't predict a panic sell off and can easily lose weeks of profit in one day. Anyone who replies claiming to be getting rich on Bitcoin daytrading please show us your statemtents and continue to show them from now on. I doubt you will see this.

Thank you.

Wuji

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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.

Rampion

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Quote from: NamelessOne on April 17, 2013, 09:57:39 AM

Its up from yesterday and everyone will agree with that. $93 to $89 is an laughably short time period, minutes. It could easily be beyond $93 in a couple minutes but that wouldn't make me right either. A real bulltrap would be if we started drastically falling now and eventually lower than $50 to fully confirm. I would call that a bulltrap because it would be one. All of those other points you put black dots on were always hitting the upper line of their downward channel that had been falling downward for days, lower lows, lower highs, clearly going down. Every time it hit that line the price would grind along it, never breaking. Always down. The reverse is happening now and we will see what plays out.

Well, some things are true:

- we have already seen MASSIVE sell offs in the last few days. All time high, +500K coins in one day!!
- buying BTC for the first time is slow. Massive queue at Gox, 2/3 days waiting for the money to appear there. So, there's still a lot of fiat in the system
- making fiat enter Gox is much easier than leaving Gox.

NamelessOne

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Its up from yesterday and everyone will agree with that. $93 to $89 is an laughably short time period, minutes. It could easily be beyond $93 in a couple minutes but that wouldn't make me right either. A real bulltrap would be if we started drastically falling now and eventually lower than $50 to fully confirm. I would call that a bulltrap because it would be one. All of those other points you put black dots on were always hitting the upper line of their downward channel that had been falling downward for days, lower lows, lower highs, clearly going down. Every time it hit that line the price would grind along it, never breaking. Always down. The reverse is happening now and we will see what plays out.

Rampion

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Quote from: Wuji on April 17, 2013, 09:48:38 AM

Quote from: Wuji on April 17, 2013, 09:48:38 AM

Nice times to rake some profit daytrading. Never did that actively, but its very profitable indeed Cheesy

Been daytrading for over 15 years and I have to say I have yet to see anyone get rich at it. Lot's of guys who made a quick million and then lost it all though. You can't predict a panic sell off and can easily lose weeks of profit in one day. Anyone who replies claiming to be getting rich on Bitcoin daytrading please show us your statemtents and continue to show them from now on. I doubt you will see this.

Yeah, I agree with you... It's just that my strategy was always "buy and hold + spend some to support BTC economy", and this last two days I have being buying after big sell offs and selling after aprox. 10% increase in price with perfect results so far... And is profitable because that is happening almost every couple of hours Cheesy

I did that just because I was jealous everybody writing "I doubled up on the crash", etc... But I know this is not the strategy for me, I'm just trying to increase a bit my stash of fresh fiat that arrived to Gox precisely the day of the dropoff to $105 from $266, while waiting for one big crash to buy BTC with it and forget about it.

I was hoping that $32 was the best moment to use that fiat, now I think I should have bought at around $55. What would you think is a good entry point, as a daytrader?

Rampion

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Quote from: NamelessOne on April 17, 2013, 09:46:46 AM

Nice times to rake some profit daytrading. Never did that actively, but its very profitable indeed Cheesy

Been daytrading for over 15 years and I have to say I have yet to see anyone get rich at it. Lot's of guys who made a quick million and then lost it all though. You can't predict a panic sell off and can easily lose weeks of profit in one day. Anyone who replies claiming to be getting rich on Bitcoin daytrading please show us your statemtents and continue to show them from now on. I doubt you will see this.

Yeah, I agree with you... It's just that my strategy was always "buy and hold + spend some to support BTC economy", and this last two days I have being buying after big sell offs and selling after aprox. 10% increase in price with perfect results so far... And is profitable because that is happening almost every couple of hours Cheesy

I did that just because I was jealous everybody writing "I doubled up on the crash", etc... But I know this is not the strategy for me, I'm just trying to increase a bit my stash of fresh fiat that arrived to Gox precisely the day of the dropoff to $105 from $266, while waiting for one big crash to buy BTC with it and forget about it.

I was hoping that $32 was the best moment to use that fiat, now I think I should have bought at around $55. What would you think is a good entry point, as a daytrader?

Wuji

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Quote from: Wuji on April 17, 2013, 09:34:41 AM

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.

That was what happens in downward channels... those aren't bulltraps. That is just movement in a downward market. And now the market appears to have reverse and is doing it in the other direction... up.

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.

Wuji

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Quote from: Wuji on April 17, 2013, 09:34:41 AM

Nice times to rake some profit daytrading. Never did that actively, but its very profitable indeed Cheesy

Been daytrading for over 15 years and I have to say I have yet to see anyone get rich at it. Lot's of guys who made a quick million and then lost it all though. You can't predict a panic sell off and can easily lose weeks of profit in one day. Anyone who replies claiming to be getting rich on Bitcoin daytrading please show us your statemtents and continue to show them from now on. I doubt you will see this.

NamelessOne

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Quote from: NamelessOne on April 17, 2013, 09:26:55 AM

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.

That was what happens in downward channels... those aren't bulltraps. That is just movement in a downward market. And now the market appears to have reverse and is doing it in the other direction... up.

Rampion

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Nice times to rake some profit daytrading. Never did that actively, but its very profitable indeed Cheesy

I'm still quite bearish, but the truth is that the last 2 days we had a HUGE selloff. Hundreds of thousands of coins per day. It may be true that panic sell is now over, and now the fresh fiat entered in Gox is pumping up the price again.

I don't think that in 2011 Gox had this massive increase in verifications, this may no te be over. I guess more big sell offs could happen at around $130, $160 and $200ish

What I can guarantee is that we are approaching a period of extreme volatility, even by BTC standards.

rebuilder

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Quote from: EuroTrash on April 17, 2013, 09:26:25 AM

But for the sake of the bitcoin idea itself I'd be way happier with some stability.

Not gonna happen for a long time, if ever. Unless you feel like dropping some money on stabilizing the rate. Where would you like it to be?

Wuji

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