Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 28167. (Read 26710725 times)
April 16, 2014, 02:17:23 AM
The alts are Chinese manipulated even more than Bitcoin, so I don't want to touch them just in case China disappears again. The reason I still trade Bitcoin under these circumstances is because I actually I have a bullish view about its future, but I can't say the same about the current altcoins. Also, I have to hold coins on an altcoin exchange in order to trade them, compounding risk.
April 16, 2014, 02:16:07 AM
WTF...
Has anyone been watching the alt market it's going crazy. http://coinmarketcap.com/
Check out the "order by % change "
I'm not sure what to do?
Has anyone been watching the alt market it's going crazy. http://coinmarketcap.com/
Check out the "order by % change "
I'm not sure what to do?
All bloody alts on btc-e exploded except XPM where I am loaded. Some sucker blocked it whole day with 40 BTC wall.
April 16, 2014, 02:14:39 AM
We are at the mercy of chinese traders. They get the news firsthand and sets the Trend, some bots that follows CNY movements eats part of the cake.
That is why pricing has been unpredictable for westerners. And I am totally uncomfortable with that. Until Huobi/okcoin gets shut down by PBOC or move out of china, I'm keeping my Fiat out of this gamble.
That is why pricing has been unpredictable for westerners. And I am totally uncomfortable with that. Until Huobi/okcoin gets shut down by PBOC or move out of china, I'm keeping my Fiat out of this gamble.
April 16, 2014, 02:14:33 AM
I made so many bad decisions today it's not even funny. I can't fucking believe that I managed to lose some money on this drop to 340 and rise up instead of making a killing.
it happens man, just evaluate the fall to 340 and the rise so that you learn from what was going on. Personally, I stepped out when it dropped to 440 for a loss due to the coming china news and I felt uncomfortable holding any more due to the uncertainty. I missed out on the rise from 340 to 400 because I was asleep at the time and I obviously could have profited more.
I know mate, I had worse days but many more better, it's part of the game. In a week or two I'll forget it, specially if some good things happen. As much as I missed on dozens of coins at 300s, I hope they won't stop at this and will bring this baby to the moon, those 4000$ I lost in last few days would be well forgotten then
The strange thing is that I am used to trade alts vs btc and I never felt anything when I would lose few btcs who were worth even more dollars. Guess that's that psychological view of only few of something, feels more bitter when it's 4000 of something even if it is the same amount on the end.
April 16, 2014, 02:12:17 AM
April 16, 2014, 02:12:03 AM
There's just something off about this rally. I understood the rally after silk road closed. I understood the rally after Gox closed. I don't understand balls to the wall in China when The PBoC has not reversed policy or no major exchange has closed. A market that suddenly changes direction without a retest of support and news that amounts to a loophole that may or may not be closed?
To use Alan Greenspan's term, it looks like "irrational exuberance". Demand that appears this suddenly can disappear just as suddenly. Supply that can disappear suddenly can reappear suddenly.
To use Alan Greenspan's term, it looks like "irrational exuberance". Demand that appears this suddenly can disappear just as suddenly. Supply that can disappear suddenly can reappear suddenly.
Why such confusion? Did you really understand the decline from 600 to 340 in face of nothing but positive news and developments? To me, that was the irrational part. The exuberance starts when we cross the exponential trendline somewhere around 2000.
Quote
The market is too thinly traded to be trusted.
Nothing is real except the bitcoins you have in an address whose key is offline-generated by you.
You're damn right about that last part. The Confusion is China China China China, China China China oh, nevermind. Huh? The decline AND the snap back were irrational.
Why is everybody suddenly so sure a four month bear market is over? Yes prices dropped ridiculously low, but there are periods of consolidation between rallies. Even if you think the four year log trend is ongoing, those consolidation periods are part of that trend line.
April 16, 2014, 02:11:32 AM
WTF...
Has anyone been watching the alt market it's going crazy. http://coinmarketcap.com/
Check out the "order by % change "
I'm not sure what to do?
Has anyone been watching the alt market it's going crazy. http://coinmarketcap.com/
Check out the "order by % change "
I'm not sure what to do?
April 16, 2014, 02:10:00 AM
I made so many bad decisions today it's not even funny. I can't fucking believe that I managed to lose some money on this drop to 340 and rise up instead of making a killing.
I'm in the same club. I took my principal away long time ago, but still! Almost half of my gains in coins since December have been wiped.
I don't think they were bad trades. Somebody with an enormous amount of fiat and coins made trades designed to crush small traders. There are forces at work I don't understand and I'm not back in the market until I understand them.
It's not bad TA. My TA always sucked. I read a story about Doyle Brunsun folding a full house Aces over jacks because some betting was going on in the game he didn't understand. It turned out he made the right choice.
There seems to be massive insider trading. Not skimming. It seems like someone is trying to take it all, to corner the market. A market traded as thinly as Bitcoin (relative to market cap) is vulnerable.
It's almost impossible to trade this. I got caught with shorts while I was sleeping and when price was 450 (my shorts in 480s at next Fibs retracement, it was almost safe trade at that point) and all trading I done after that was to try to save that trade. Made hundreds in the meantime in many small trades but failed to cover at some small loss on dip to 490$ as 460-470 look so certain by all TA and orderbooks, just for some mental buying to occur each few hours at China.
This is some big insider buying and trend reversal or someone wants to get out at higher point. They bought lot of coins so first looks more probable. Then again, I'm still not feeling comfortable with all this China shit, you never know when they'll hit from either side. They really have managed to cool me from Bitcoin. I hope they'll pump this shit to the moon soon so I could take some big money and take a nice rest.
April 16, 2014, 02:04:46 AM
I made so many bad decisions today it's not even funny. I can't fucking believe that I managed to lose some money on this drop to 340 and rise up instead of making a killing.
it happens man, just evaluate the fall to 340 and the rise so that you learn from what was going on. Personally, I stepped out when it dropped to 440 for a loss due to the coming china news and I felt uncomfortable holding any more due to the uncertainty. I missed out on the rise from 340 to 400 because I was asleep at the time and I obviously could have profited more.
April 16, 2014, 02:04:22 AM
I believe we've just hit the top.
There was a lot of struggle in that pump
There was a lot of struggle in that pump
I agree, this current pump has no follow through. Soon it'l retrace back to 500, afterwards sub 460 to test some support.
This rally will end soon as it cannot be sustained by enough bids (less than $11 million bids) and has been fueled mainly by china and previous sellers who believes 340 as bottom and getting back in. To summarize, bitcoiners have short memory about the situation with pboc and is currently blinded by 'fear' of missing the fantomatic moon train.
April 16, 2014, 02:02:53 AM
I made so many bad decisions today it's not even funny. I can't fucking believe that I managed to lose some money on this drop to 340 and rise up instead of making a killing.
I'm in the same club. I took my principal away long time ago, but still! Almost half of my gains in coins since December have been wiped.
told you guys this is not safe to trade, we will be going up on waves till the end of this month then the price will be somehow stable for some time (couple of weeks).
and good morning
The EW traders are making a killing right now. this is a traders safe haven. never a better time to trade than when the crowd turns.
Bullshit. EW traders on TradingView are bearish last 10 hours at least and many of them caught with shorts around 500.
So called EW prophet DanV is spouting his usual waves bullshit all the time, just to rearrange when he misses it completely. He caught one good long trade prediction (Bitcoin failing to 500$) and makes 20 bad daily, yet people look at him like he is from other planet.
Fibs could make some money last few days but only real money really could be made by people who bought in 300s and 400s as this rise was just mental and buying waves were coming out of nowhere and when nobody expected them.
April 16, 2014, 02:02:00 AM
There's just something off about this rally. I understood the rally after silk road closed. I understood the rally after Gox closed. I don't understand balls to the wall in China when The PBoC has not reversed policy or no major exchange has closed. A market that suddenly changes direction without a retest of support and news that amounts to a loophole that may or may not be closed?
To use Alan Greenspan's term, it looks like "irrational exuberance". Demand that appears this suddenly can disappear just as suddenly. Supply that can disappear suddenly can reappear suddenly.
To use Alan Greenspan's term, it looks like "irrational exuberance". Demand that appears this suddenly can disappear just as suddenly. Supply that can disappear suddenly can reappear suddenly.
Why such confusion? Did you really understand the decline from 600 to 340 in face of nothing but positive news and developments? To me, that was the irrational part. The exuberance starts when we cross the exponential trendline somewhere around 2000.
Quote
The market is too thinly traded to be trusted.
Nothing is real except the bitcoins you have in an address whose key is offline-generated by you.
April 16, 2014, 02:00:18 AM
April 16, 2014, 01:59:27 AM
I made so many bad decisions today it's not even funny. I can't fucking believe that I managed to lose some money on this drop to 340 and rise up instead of making a killing.
I'm in the same club. I took my principal away long time ago, but still! Almost half of my gains in coins since December have been wiped.
I don't think they were bad trades. Somebody with an enormous amount of fiat and coins made trades designed to crush small traders. There are forces at work I don't understand and I'm not back in the market until I understand them.
It's not bad TA. My TA always sucked. I read a story about Doyle Brunsun folding a full house Aces over jacks because some betting was going on in the game he didn't understand. It turned out he made the right choice.
There seems to be massive insider trading. Not skimming. It seems like someone is trying to take it all, to corner the market. A market traded as thinly as Bitcoin (relative to market cap) is vulnerable.
April 16, 2014, 01:49:26 AM
I made so many bad decisions today it's not even funny. I can't fucking believe that I managed to lose some money on this drop to 340 and rise up instead of making a killing.
I'm in the same club. I took my principal away long time ago, but still! Almost half of my gains in coins since December have been wiped.
told you guys this is not safe to trade, we will be going up on waves till the end of this month then the price will be somehow stable for some time (couple of weeks).
and good morning
Meh, I don't care really, easy come, easy gone, got caught at wrong foot, fair play.
I do hate though when I make bad timed decisions in 30 seconds or so, I've done at lest 3 such today that could cut at least half of my losses.
Alts saving me again, already pulled back 1 BTC profit from DGC rise.
April 16, 2014, 01:48:18 AM
April 16, 2014, 01:48:11 AM
I made so many bad decisions today it's not even funny. I can't fucking believe that I managed to lose some money on this drop to 340 and rise up instead of making a killing.
I'm in the same club. I took my principal away long time ago, but still! Almost half of my gains in coins since December have been wiped.
told you guys this is not safe to trade, we will be going up on waves till the end of this month then the price will be somehow stable for some time (couple of weeks).
and good morning
The EW traders are making a killing right now. this is a traders safe haven. never a better time to trade than when the crowd turns.
April 16, 2014, 01:47:01 AM
I think there was a covert bear mission to jump onto a moving train and detach the engine. Now all the bitcoiners are unknowingly stuck in cars that are just drifting down the track. But they don't know because they're busy with champagne and disco lights.
Then they've done their job. This market doesn't exist to make us money. We get paid to reduce volatility.
Did you recently take up TM? I think I have identified your mantra.
Come on man. 1 rumour from China and we'll be back at 350 in no time.
April 16, 2014, 01:45:40 AM
There's just something off about this rally. I understood the rally after silk road closed. I understood the rally after Gox closed. I don't understand balls to the wall in China when The PBoC has not reversed policy or no major exchange has closed. A market that suddenly changes direction without a retest of support and news that amounts to a loophole that may or may not be closed?
To use Alan Greenspan's term, it looks like "irrational exuberance". Demand that appears this suddenly can disappear just as suddenly. Supply that can disappear suddenly can reappear suddenly.
To use Alan Greenspan's term, it looks like "irrational exuberance". Demand that appears this suddenly can disappear just as suddenly. Supply that can disappear suddenly can reappear suddenly.
Why such confusion? Did you really understand the decline from 600 to 340 in face of nothing but positive news and developments? To me, that was the irrational part. The exuberance starts when we cross the exponential trendline somewhere around 2000.
Quote
The market is too thinly traded to be trusted.
Nothing is real except the bitcoins you have in an address whose key is offline-generated by you.
April 16, 2014, 01:43:27 AM
A 4k buy with maximum slippage right at the end of a wedge. The guy had plenty of time to buy during the wedge and instead chooses to buy when it hurts his wallet the most. Looks like manipulation to me.
There's just something off about this rally. I understood the rally after silk road closed. I understood the rally after Gox closed. I don't understand balls to the wall in China when The PBoC has not reversed policy or no major exchange has closed. A market that suddenly changes direction without a retest of support and news that amounts to a loophole that may or may not be closed?
To use Alan Greenspan's term, it looks like "irrational exuberance". Demand that appears this suddenly can disappear just as suddenly. Supply that can disappear suddenly can reappear suddenly. The market is too thinly traded to be trusted.
Put yourself in the shoes of Chinese gov officials.
If you can move a market this much you can profit hand over fist. People are driven by their own self interest. Pile into bitcoin, release clear guidance, make 10's-100's of millions of dollars.
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