Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 32892.

Miz4r

legendary

Activity: 1246

Merit: 1000

Quote from: Its About Sharing on June 20, 2013, 06:20:04 PM

Quote from: ardana123 on June 20, 2013, 06:10:18 PM

Quote from: Its About Sharing on June 20, 2013, 06:04:44 PM

Looks like things just turned. I say 4 days of red candles ahead.

price drops a few $, prophets immediately predict long term drops
price rises a few $, prophets immediately predict long term raises

bitcoin never changes

No, not exactly. We had what looked like a shooting star candle (upside down hammer basically) 2 days ago but it didn't form. Then yesterday it was just long wicked one with a decent body. Today is a bit key due to the resistance area(s). Now we are forming that shooting star with good volume (52k), just below resistance.

You just keep trying with your shooting stars won't you? This one won't form either, I can asure you. Just panic buy already, you're not getting your crash. Tongue

Its About Sharing

legendary

Activity: 1442

Merit: 1000

Antifragile

Quote from: Chainsaw on June 20, 2013, 06:30:50 PM

Quote from: Its About Sharing on June 20, 2013, 06:04:44 PM

Quote from: Frozenlock on June 20, 2013, 05:56:21 PM

Quote from: Its About Sharing on June 20, 2013, 05:50:44 PM

Does what your getting at rhyme with Brash but sort of have the opposite outcome? Grin

My guess is everyone bought thinking the price would go up
and now they are all looking at each other thinking "Oh... It didn't happen... Uh oh..."

Looks like things just turned. I say 4 days of red candles ahead.

This theory would fit the volume and price movement.
It would also accurately reflect my mentality, when I intentionally throw logic out the window and try to observe what I feel/think as a purely emotion-driven investor.

Full disclosure, I've been positioned for downturn for over a week. But today's actions are causing me to move my rebuy targets lower.

Look at my post above. I am talking about todays candle formation. If we close at around 110 or below, we have a shooting star candle (reversal pattern). We have nice volume and it is right below support/resistance as well. There is emotion there as well though. Cool

Ultraviolet

member

Activity: 84

Merit: 10

I still think it gets whaled up to like 118-119 tomorrow, stabilizes around 115-116 for a few days and then whaled into 130 and maybe 140 before dumped for the beginning of the month.

Chainsaw

hero member

Activity: 625

Merit: 501

x

Quote from: Its About Sharing on June 20, 2013, 06:04:44 PM

Quote from: Frozenlock on June 20, 2013, 05:56:21 PM

Quote from: Its About Sharing on June 20, 2013, 05:50:44 PM

Does what your getting at rhyme with Brash but sort of have the opposite outcome? Grin

My guess is everyone bought thinking the price would go up
and now they are all looking at each other thinking "Oh... It didn't happen... Uh oh..."

Looks like things just turned. I say 4 days of red candles ahead.

This theory would fit the volume and price movement.
It would also accurately reflect my mentality, when I intentionally throw logic out the window and try to observe what I feel/think as a purely emotion-driven investor.

Full disclosure, I've been positioned for downturn for over a week. But today's actions are causing me to move my rebuy targets lower.

Frozenlock

sr. member

Activity: 434

Merit: 250

Sure.
Go into the margin section.
There you can see the remaining available long/short position.

Compare it to what it was 1-2 days ago and you can have a pretty good idea of the positions taken.

Of course there's always the possibility of people just leaving the exchange.

dexX7

legendary

Activity: 1106

Merit: 1026

Quote from: Frozenlock on June 20, 2013, 06:12:14 PM

LOL!!!

Long squeeze! Grin

https://www.bitfinex.com/pages/public_log

Quote

FORCED EXECUTED @ 103.1(-2.42)

The forced part in combination with falling prices made very clear, that it was now dead long position.

Quote from: Frozenlock on June 20, 2013, 05:47:12 PM

Bitfinex (Bitstamp) now @ $103.50 and people are still leveraged long up to their ears.

Good luck unloading. Grin

But could you please explain, how you know, people go long/short and how many open positions there are?

Frozenlock

sr. member

Activity: 434

Merit: 250

I've yet to see an exodus. I've seen plenty of speculators however. Wink

Jozzaboy

member

Activity: 98

Merit: 10

Good times for the exodus of MTGox. A chance to buy up your panic coins at low, low prices!

Its About Sharing

legendary

Activity: 1442

Merit: 1000

Antifragile

Quote from: Marbit on June 20, 2013, 06:18:48 PM

Quote from: Frozenlock on June 20, 2013, 06:12:14 PM

LOL!!!

Long squeeze! Grin

https://www.bitfinex.com/pages/public_log

Quote

FORCED EXECUTED @ 103.1(-2.42)

Sorry to newb it up here, but could you explain what you're talking about here?

I think he means that these guys were heavily margined (and long) and when the price dropped enough, they were "called" and automatically released from there postion. That is an automatic sell for them.

Its About Sharing

legendary

Activity: 1442

Merit: 1000

Antifragile

Quote from: ardana123 on June 20, 2013, 06:10:18 PM

Quote from: Its About Sharing on June 20, 2013, 06:04:44 PM

Looks like things just turned. I say 4 days of red candles ahead.

price drops a few $, prophets immediately predict long term drops
price rises a few $, prophets immediately predict long term raises

bitcoin never changes

No, not exactly. We had what looked like a shooting star candle (upside down hammer basically) 2 days ago but it didn't form. Then yesterday it was just long wicked one with a decent body. Today is a bit key due to the resistance area(s). Now we are forming that shooting star with good volume (52k), just below resistance.

Marbit

hero member

Activity: 686

Merit: 500

Quote from: Frozenlock on June 20, 2013, 06:12:14 PM

LOL!!!

Long squeeze! Grin

https://www.bitfinex.com/pages/public_log

Quote

FORCED EXECUTED @ 103.1(-2.42)

Sorry to newb it up here, but could you explain what you're talking about here?

Frozenlock

sr. member

Activity: 434

Merit: 250

LOL!!!

Long squeeze! Grin

https://www.bitfinex.com/pages/public_log

Quote

FORCED EXECUTED @ 103.1(-2.42)

ardana123

hero member

Activity: 504

Merit: 500

Quote from: Its About Sharing on June 20, 2013, 06:04:44 PM

Looks like things just turned. I say 4 days of red candles ahead.

price drops a few $, prophets immediately predict long term drops
price rises a few $, prophets immediately predict long term raises

bitcoin never changes

oda.krell

legendary

Activity: 1470

Merit: 1007

Quote from: Its About Sharing on June 20, 2013, 05:03:51 PM

[...]

I was really addressing the "manipulation" of Gox (e.g. - Todays wire news) and nothing against Bitstamp. I use them. Wink

What do you feel about Bitstamp using a Slovenian Bank and the recent problems there? I think they got cash from a sale and we are ok for a few months at least, (Note that such a "universal" haircut didn't takeif not longer.

I'm on Bitstamp as well, and for obvious reasons I follow the news around the Slovenian banking situation in general and Unicredit Slovenia in particular.

From what I gathered so far (from the news, and through comments by an economist I know who's from Slovenia) Unicredit is uniquely positioned in that they are perhaps the only bank, or at least: the biggest bank in Slovenia to not *directly* be part of the banking crisis. Largely due to the fact that they're a subsidiary of the Italian Unicredit, I guess.

They way I understand it, unless the banking crisis would lead to some sort of *universal* haircut on all bank accounts, including even those of banks that aren't in trouble, the banking crisis is not going to affect Bitstamp operations.

Its About Sharing

legendary

Activity: 1442

Merit: 1000

Antifragile

Quote from: Frozenlock on June 20, 2013, 05:56:21 PM

Quote from: Its About Sharing on June 20, 2013, 05:50:44 PM

Quote from: Frozenlock on June 20, 2013, 05:47:12 PM

Bitfinex (Bitstamp) now @ $103.50 and people are still leveraged long up to their ears.

Good luck unloading. Grin

Does what your getting at rhyme with Brash but sort of have the opposite outcome? Grin

Me? NooOOOOOooo, I would never... Cheesy

I've been asking all day to see who's leaving MtGox, as many people are saying is happening...
I've got a single answer (with limited BTCs).

My guess is everyone bought thinking the price would go up
and now they are all looking at each other thinking "Oh... It didn't happen... Uh oh..."

Also, Bitifinex isn't very liquid. With more than 2k BTC leveraged long, that could take a long time to sell.

Looks like things just turned. I say 4 days of red candles ahead.

I noticed you mentioned Bitifinex and I looked it up - wasn't aware of them. Very very interesting considering...

Funny about "Oh... It didn't happen... Uh oh..." Cheesy

At least my sell point is now above the current Bitstamp price, I felt bad after passing on the 100 bounce I felt...

Frozenlock

sr. member

Activity: 434

Merit: 250

Quote from: Its About Sharing on June 20, 2013, 05:50:44 PM

Quote from: Frozenlock on June 20, 2013, 05:47:12 PM

Bitfinex (Bitstamp) now @ $103.50 and people are still leveraged long up to their ears.

Good luck unloading. Grin

Does what your getting at rhyme with Brash but sort of have the opposite outcome? Grin

Me? NooOOOOOooo, I would never... Cheesy

I've been asking all day to see who's leaving MtGox, as many people are saying is happening...
I've got a single answer (with limited BTCs).

My guess is everyone bought thinking the price would go up
and now they are all looking at each other thinking "Oh... It didn't happen... Uh oh..."

Also, Bitifinex isn't very liquid. With more than 2k BTC leveraged long, that could take a long time to sell.

hlynur

hero member

Activity: 770

Merit: 501

Quote from: Its About Sharing on June 20, 2013, 05:42:57 PM

Thanks for the info Hlynur. I'll sleep better. Are you in Germany? (I am)

Anyone notice those trades that just went through? A bit of volume, not a ton, under 1000, but dropped things a bit.

I really wonder when (and if) the selling will begin.

yap, germany. buy most of my bitcoins at bitcoin.de and trade on gox from time to time just for the fun of it.
so gox is more for my passion for gambling and i enjoy the show everytime Cheesy

.

Its About Sharing

legendary

Activity: 1442

Merit: 1000

Antifragile

Quote from: Frozenlock on June 20, 2013, 05:47:12 PM

Bitfinex (Bitstamp) now @ $103.50 and people are still leveraged long up to their ears.

Good luck unloading. Grin

Does what your getting at rhyme with Brash but sort of have the opposite outcome? Grin

ElectricMucus

legendary

Activity: 1666

Merit: 1057

Marketing manager - GO MP

Quote from: Frozenlock on June 20, 2013, 05:47:12 PM

Bitfinex (Bitstamp) now @ $103.50 and people are still leveraged long up to their ears.

Good luck unloading. Grin

I said 20% spread and I mean it, pump it to 120 already! Grin

Frozenlock

sr. member

Activity: 434

Merit: 250

Bitfinex (Bitstamp) now @ $103.50 and people are still leveraged long up to their ears.

Good luck unloading. Grin

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