Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 26253.

billyjoeallen

legendary

Activity: 1106

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Hide your women

Quote from: ?? on ??

Quote from: billyjoeallen on August 20, 2014, 12:56:33 AM

I had to take three months off when the train left without me, but I'm back, Baby. I still have the cash from when i foolishly dumped and now I'm ready to get back in the game asoon and this next crash makes it cheap enough. This many shorts get squeezed when it's over and it'll go to up like a rocket, but it's likely to get worse before it gets better.

Did you really take 3 months off, or were you a closet chart watcher? I once took a whole week off... Terrifying. I don't recommend it.

I was watching to see if I was going to have a chance to come back in. I wish my account was at BTC-e so I'd be loaded back up already.

I'll repeat what I said three month's ago: the best way to know the bear market is over is with a retest of the ~$340 low on higher volume. Volume is the key.

Dotto

legendary

Activity: 981

Merit: 1005

No maps for these territories

Quote from: Newbie1022 on August 20, 2014, 01:45:22 AM

I have a fleeting suspicion that the next margin that will be hunted will be LTCs rather than BTCs... I'd imagine more than a few people went long on LTC because they figured its short-term bounce back would be a greater percentage than BTC.

Im very skeptical with LTC, short and long term. Your theory makes sense

lay785

sr. member

Activity: 266

Merit: 250

Quote from: Newbie1022 on August 20, 2014, 01:52:58 AM

Quote from: Riddikulo on August 20, 2014, 01:50:59 AM

This is killing me!

Yes. This week has seriously been unhealthy. Ice cream, popcorn, and not sleeping. Before that I had a great exercise routine going.

same except ive been doing arbitrage like mad.

jeezy

legendary

Activity: 1237

Merit: 1010

Quote from: TalkingBit on August 20, 2014, 01:37:08 AM

Someone is definatelly dumping A LOT of coins. But I don't think it's manipulation now. Just someone with a lot of coins to dump, look at the 1k ask wall at 2940 on HooBoy and he dumped few k to bring it down accross major exchanges. If someone is willing to give up coins at these prices i'll gladly take as many as i can Grin

Looks like the overall sentiment is that bitcoin is undervalued and market wants to go up. BFX longs lost 12MM or 30% (i think BFX did an amazing job controlling that avalanch), and shorts are up by like 2k BTC. All indicators are pointing up, lets see how many coins Mr Dump has, if it's Gox's coins this might take a while

There are still a lot of stolen/auctioned coins around and the long stall could be a motivator for one or more of those people to dump some % of their stash. My guess is that it will go down more probably around 350-400 and then go up slowly first, then gaining more speed up quickly towards new years eve.

Hunyadi

legendary

Activity: 1281

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☑ ♟ ☐ ♚

Quote from: Riddikulo on August 20, 2014, 01:50:59 AM

This is killing me!

ErisDiscordia

legendary

Activity: 1133

Merit: 1163

Imposition of ORder = Escalation of Chaos

Quote from: billyjoeallen on August 20, 2014, 12:56:33 AM

I had to take three months off when the train left without me, but I'm back, Baby. I still have the cash from when i foolishly dumped and now I'm ready to get back in the game asoon and this next crash makes it cheap enough. This many shorts get squeezed when it's over and it'll go to up like a rocket, but it's likely to get worse before it gets better.

welcome back. Together with Proudhon and Rampion I've now spotted three of my favorite posters in the last two days. Good times, don't even care about the price drops now Cheesy

adamstgBit

legendary

Activity: 1904

Merit: 1037

Trusted Bitcoiner

Quote from: TalkingBit on August 20, 2014, 01:37:08 AM

Someone is definatelly dumping A LOT of coins. But I don't think it's manipulation now. Just someone with a lot of coins to dump, look at the 1k ask wall at 2940 on HooBoy and he dumped few k to bring it down accross major exchanges. If someone is willing to give up coins at these prices i'll gladly take as many as i can Grin

Looks like the overall sentiment is that bitcoin is undervalued and market wants to go up. BFX longs lost 12MM or 30% (i think BFX did an amazing job controlling that avalanch), and shorts are up by like 2k BTC. All indicators are pointing up, lets see how many coins Mr Dump has, if it's Gox's coins this might take a while

how about now?

ChartBuddy

legendary

Activity: 2380

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1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ

Explanation

Newbie1022

full member

Activity: 238

Merit: 100

Quote from: Riddikulo on August 20, 2014, 01:50:59 AM

This is killing me!

Yes. This week has seriously been unhealthy. Ice cream, popcorn, and not sleeping. Before that I had a great exercise routine going.

Riddikulo

hero member

Activity: 896

Merit: 500

This is killing me!

Newbie1022

full member

Activity: 238

Merit: 100

Quote from: TalkingBit on August 20, 2014, 01:42:55 AM

Quote from: medialab101 on August 20, 2014, 01:36:36 AM

Quote from: Probability on August 20, 2014, 01:29:11 AM

Quote from: billyjoeallen on August 20, 2014, 12:56:33 AM

I had to take three months off when the train left without me, but I'm back, Baby. I still have the cash from when i foolishly dumped and now I'm ready to get back in the game asoon and this next crash makes it cheap enough. This many shorts get squeezed when it's over and it'll go to up like a rocket, but it's likely to get worse before it gets better.

Are you saying that because of this crash the next 'bubble' is going to be epic?

He's saying that if people feel that things couldn't be worse (capitulation) and enough people betting against BTC (shorting) suddenly find themselves getting burned when the price suddenly spikes up, these are the perfect conditions for the next big rally. Historically the previous rallies have all begun like this.

BFX's shorts just shot up to only 7.5kBTC or just about 3.5MM which is only a small portion compared to longs at 18MM. Wake me up when shorts get to 30k BTC

A short is a much harder bet with incalculable loss risk and we are already fairly low... so I'd say 7.5k BTCs means a pretty strong belief... it's certainly not bullish.

Newbie1022

full member

Activity: 238

Merit: 100

I have a fleeting suspicion that the next margin that will be hunted will be LTCs rather than BTCs... I'd imagine more than a few people went long on LTC because they figured its short-term bounce back would be a greater percentage than BTC.

Probability

newbie

Activity: 8

Merit: 0

Quote from: medialab101 on August 20, 2014, 01:36:36 AM

Quote from: Probability on August 20, 2014, 01:29:11 AM

Quote from: billyjoeallen on August 20, 2014, 12:56:33 AM

I had to take three months off when the train left without me, but I'm back, Baby. I still have the cash from when i foolishly dumped and now I'm ready to get back in the game asoon and this next crash makes it cheap enough. This many shorts get squeezed when it's over and it'll go to up like a rocket, but it's likely to get worse before it gets better.

Are you saying that because of this crash the next 'bubble' is going to be epic?

He's saying that if people feel that things couldn't be worse (capitulation) and enough people betting against BTC (shorting) suddenly find themselves getting burned when the price suddenly spikes up, these are the perfect conditions for the next big rally. Historically the previous rallies have all begun like this.

Yeah, that makes sense to me. Does this make sense as well: there's a long squeeze going on and it might help a future rally (in addition to the short squeeze) because it leaves a lot of deep pocketed btc-believers on the sidelines, some with significant losses? (recent margin calls on btc-e could be an example of this?)

TalkingBit

newbie

Activity: 42

Merit: 0

Quote from: medialab101 on August 20, 2014, 01:36:36 AM

Quote from: Probability on August 20, 2014, 01:29:11 AM

Quote from: billyjoeallen on August 20, 2014, 12:56:33 AM

I had to take three months off when the train left without me, but I'm back, Baby. I still have the cash from when i foolishly dumped and now I'm ready to get back in the game asoon and this next crash makes it cheap enough. This many shorts get squeezed when it's over and it'll go to up like a rocket, but it's likely to get worse before it gets better.

Are you saying that because of this crash the next 'bubble' is going to be epic?

He's saying that if people feel that things couldn't be worse (capitulation) and enough people betting against BTC (shorting) suddenly find themselves getting burned when the price suddenly spikes up, these are the perfect conditions for the next big rally. Historically the previous rallies have all begun like this.

BFX's shorts just shot up to only 7.5kBTC or just about 3.5MM which is only a small portion compared to longs at 18MM. Wake me up when shorts get to 30k BTC

Grownwithbtc

newbie

Activity: 59

Merit: 0

The prices have started to become more predictable now, hopefully someone does not dump BTC worth millions again..

TalkingBit

newbie

Activity: 42

Merit: 0

Someone is definatelly dumping A LOT of coins. But I don't think it's manipulation now. Just someone with a lot of coins to dump, look at the 1k ask wall at 2940 on HooBoy and he dumped few k to bring it down accross major exchanges. If someone is willing to give up coins at these prices i'll gladly take as many as i can Grin

Looks like the overall sentiment is that bitcoin is undervalued and market wants to go up. BFX longs lost 12MM or 30% (i think BFX did an amazing job controlling that avalanch), and shorts are up by like 2k BTC. All indicators are pointing up, lets see how many coins Mr Dump has, if it's Gox's coins this might take a while

medialab101

hero member

Activity: 583

Merit: 500

Quote from: Probability on August 20, 2014, 01:29:11 AM

Quote from: billyjoeallen on August 20, 2014, 12:56:33 AM

I had to take three months off when the train left without me, but I'm back, Baby. I still have the cash from when i foolishly dumped and now I'm ready to get back in the game asoon and this next crash makes it cheap enough. This many shorts get squeezed when it's over and it'll go to up like a rocket, but it's likely to get worse before it gets better.

Are you saying that because of this crash the next 'bubble' is going to be epic?

He's saying that if people feel that things couldn't be worse (capitulation) and enough people betting against BTC (shorting) suddenly find themselves getting burned when the price suddenly spikes up, these are the perfect conditions for the next big rally. Historically the previous rallies have all begun like this.

aminorex

legendary

Activity: 1596

Merit: 1030

Sine secretum non libertas

Quote from: billyjoeallen on August 20, 2014, 12:56:33 AM

I had to take three months off when the train left without me, but I'm back, Baby. I still have the cash from when i foolishly dumped and now I'm ready to get back in the game asoon and this next crash makes it cheap enough. This many shorts get squeezed when it's over and it'll go to up like a rocket, but it's likely to get worse before it gets better.

You can try to low ball it, but if you aren't willing to wait for lightning to strike (as e.g. lowballing on bfx and btce for a squeeze) anything under 460 is a buy.

Probability

newbie

Activity: 8

Merit: 0

Quote from: billyjoeallen on August 20, 2014, 12:56:33 AM

I had to take three months off when the train left without me, but I'm back, Baby. I still have the cash from when i foolishly dumped and now I'm ready to get back in the game asoon and this next crash makes it cheap enough. This many shorts get squeezed when it's over and it'll go to up like a rocket, but it's likely to get worse before it gets better.

Are you saying that because of this crash the next 'bubble' is going to be epic?

Hunyadi

legendary

Activity: 1281

Merit: 1000

☑ ♟ ☐ ♚

Quote from: billyjoeallen on August 20, 2014, 12:56:33 AM

I had to take three months off when the train left without me, but I'm back, Baby. I still have the cash from when i foolishly dumped and now I'm ready to get back in the game asoon and this next crash makes it cheap enough. This many shorts get squeezed when it's over and it'll go to up like a rocket, but it's likely to get worse before it gets better.

Nice! I was wondering where have you gone.

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