Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 32985. (Read 26611052 times)
July 10, 2013, 12:31:49 PM
did you guys see the huge buy wall at 77?
July 10, 2013, 12:19:19 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.
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?
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
July 10, 2013, 12:01:06 PM
July 10, 2013, 11:58:42 AM
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.
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?
I agree, seeing that wall at 80 holding , the whales said : "No thanks, its too costly"
July 10, 2013, 11:47:03 AM
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.
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.
July 10, 2013, 11:35:57 AM
based on wishful thinking? 
korea pop?
korea pop?
By the way, there was a 6-month runup.
So, today is an equator of a 6-month pop
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.
July 10, 2013, 11:01:00 AM
July 10, 2013, 10:46:04 AM
Bulls are coming out of the woodwork.
Bulls, bulls everywhere!
Bulls, bulls everywhere!
where?
edit: ah, I see. The new trollwall?
July 10, 2013, 10:41:22 AM
Bulls are coming out of the woodwork.
Bulls, bulls everywhere!
Bulls, bulls everywhere!
July 10, 2013, 10:28:55 AM
based on wishful thinking?
korea pop?
korea pop?
By the way, there was a 6-month runup.
So, today is an equator of a 6-month pop
That's quite debatable ;-) It was almost millpond flat for the majority of the first three months.
July 10, 2013, 10:21:41 AM
based on wishful thinking?
korea pop?
korea pop?
By the way, there was a 6-month runup.
So, today is an equator of a 6-month pop
July 10, 2013, 10:17:44 AM
BTW, today is 3 months from the bubble pop. And also wednesday
Let's celebrate it, bears!
Let's celebrate it, bears!
hehe, 3 month runup, 3 month pop... what now?
megapop
based on wishful thinking?
korea pop?
July 10, 2013, 10:01:07 AM
July 10, 2013, 10:00:19 AM
BTW, today is 3 months from the bubble pop. And also wednesday
Let's celebrate it, bears!
Let's celebrate it, bears!
hehe, 3 month runup, 3 month pop... what now?
megapop
July 10, 2013, 10:00:15 AM
BTW, today is 3 months from the bubble pop. And also wednesday
Let's celebrate it, bears!
Let's celebrate it, bears!
Wow, 3 months. Its been emotional.
July 10, 2013, 09:53:54 AM
BTW, today is 3 months from the bubble pop. And also wednesday
Let's celebrate it, bears!
Let's celebrate it, bears!
hehe, 3 month runup, 3 month pop... what now?
July 10, 2013, 09:39:45 AM
BTW, today is 3 months from the bubble pop. And also wednesday
Let's celebrate it, bears!
Let's celebrate it, bears!
July 10, 2013, 09:01:00 AM
July 10, 2013, 08:34:13 AM
I sort of follow you but I hadn't been using short term periods like that.
This is a bit over my head actually
How is the period (short or long) related to the effect on sell offs? (or buys)
I thought it didn't matter, it was all in the order book (for the most part).
I think that this makes sense for day trading (if sufficient daily volatility)This is a bit over my head actually
How is the period (short or long) related to the effect on sell offs? (or buys)
I thought it didn't matter, it was all in the order book (for the most part).
And of course, daily traders he must know: where the support and resistance is too.
Exactly when he react to the first signal, you can throw away a lot of percent profit.
But I think now it was clear with 2.5k "bomb" at 79 and almost 9k "resistance" at 80 ...
however, it will be interesting how low the price gets now!
?
He probably knew also, that we can't stay long time in this "mini triangle".
We must go up above 78.5 or lower than 76 - 77, otherwise, the volume decreases and we will wait for further developments.
July 10, 2013, 08:31:42 AM
Thanks Dalib, really interesting and I understand now (I do well with pictures)
Gives me something to keep an eye on...
Gives me something to keep an eye on...
you're welcome
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