Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 32674.

ElectricMucus

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Marketing manager - GO MP

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gizmoh

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Quote from: bitcryptonit on July 10, 2013, 01:19:19 PM

then how do you explain buy orders that are piling up right now. There is coming to be big battle with big volume i think and that could trigger change of sentiment

You mean the trollwall of 10k thats want you to buy his sells..and gonna disappear soon after.

rampantparanoia

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did you guys see the huge buy wall at 77?

bitcryptonit

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Quote from: gizmoh on July 10, 2013, 12:58:42 PM

Quote from: Ultraviolet on July 10, 2013, 12:47:03 PM

None of the whales want the price to go back to $90-100 yet. There is way, way, way too much money to take from people who will give up their coins when first $60 doesn't hold, and then $50 doesn't hold, and then $40 and $30 are realities.

But in order to do that, you can't just dump from $92-98. You have to depress the market over a longer timeframe in order to encourage a real demoralization of people's hopes for the future. If you don't demoralize people, there won't be fear, and there won't be capitulation.

Besides, if you can short, you can make a ridiculous fortune on the way down too.

That's why there are bull traps on the way down. If it weren't that way, those bull traps would be bear traps. There is _plenty_ of fiat sitting on Gox waiting for a good time to buy. After all, when $100-110-120-130 were the perpetual price point, whoever managed to buy at $80-85 on the last big sell off made themselves a fortune. So why aren't the market buys coming down, especially when you can pick up 10k BTC for less than one mega?

In my view, that makes the direction we're headed in remarkably clear.

Now am demoralized, are you a whale? Cheesy

I agree, seeing that wall at 80 holding , the whales said : "No thanks, its too costly"

then how do you explain buy orders that are piling up right now. There is coming to be big battle with big volume i think and that could trigger change of sentiment

ChartBuddy

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gizmoh

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Quote from: Ultraviolet on July 10, 2013, 12:47:03 PM

None of the whales want the price to go back to $90-100 yet. There is way, way, way too much money to take from people who will give up their coins when first $60 doesn't hold, and then $50 doesn't hold, and then $40 and $30 are realities.

But in order to do that, you can't just dump from $92-98. You have to depress the market over a longer timeframe in order to encourage a real demoralization of people's hopes for the future. If you don't demoralize people, there won't be fear, and there won't be capitulation.

Besides, if you can short, you can make a ridiculous fortune on the way down too.

That's why there are bull traps on the way down. If it weren't that way, those bull traps would be bear traps. There is _plenty_ of fiat sitting on Gox waiting for a good time to buy. After all, when $100-110-120-130 were the perpetual price point, whoever managed to buy at $80-85 on the last big sell off made themselves a fortune. So why aren't the market buys coming down, especially when you can pick up 10k BTC for less than one mega?

In my view, that makes the direction we're headed in remarkably clear.

Now am demoralized, are you a whale? Cheesy

I agree, seeing that wall at 80 holding , the whales said : "No thanks, its too costly"

Ultraviolet

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None of the whales want the price to go back to $90-100 yet. There is way, way, way too much money to take from people who will give up their coins when first $60 doesn't hold, and then $50 doesn't hold, and then $40 and $30 are realities.

But in order to do that, you can't just dump from $92-98. You have to depress the market over a longer timeframe in order to encourage a real demoralization of people's hopes for the future. If you don't demoralize people, there won't be fear, and there won't be capitulation.

Besides, if you can short, you can make a ridiculous fortune on the way down too.

That's why there are bull traps on the way down. If it weren't that way, those bull traps would be bear traps. There is _plenty_ of fiat sitting on Gox waiting for a good time to buy. After all, when $100-110-120-130 were the perpetual price point, whoever managed to buy at $80-85 on the last big sell off made themselves a fortune. So why aren't the market buys coming down, especially when you can pick up 10k BTC for less than one mega?

In my view, that makes the direction we're headed in remarkably clear.

thoughtfan

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Quote from: BitPirate on July 10, 2013, 11:28:55 AM

Quote from: fr33d0miz3r on July 10, 2013, 11:21:41 AM

Quote from: molecular on July 10, 2013, 11:17:44 AM

based on wishful thinking? Grin

korea pop?

By the way, there was a 6-month runup.
So, today is an equator of a 6-month pop Wink

That's quite debatable ;-) It was almost millpond flat for the majority of the first three months.

That first three months of the 6 is only 'millpond flat' on a chart that shows what happened since. At the time average weekly gains were still substantial, just not ridiculous as it was in the three months that followed. However I do think including the months in this chart as part of the making of the bubble is a stretch - and looks to me a sign of those wanting to paint the current price as 'too high'.

edit: ...not that I'd mind if it did go substantially lower before turning around. I don't have as much in my fiat pot as I do in btc but I'm still holding off from going all in again till I'm confident we're past a substantial risk of a large drop for the foreseeable. Right now doesn't smell right for me still.

ChartBuddy

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