Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 33775.

SlipperySlope

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Stephen Reed

Quote from: AmazonStuff on May 03, 2013, 09:35:33 AM

I guess this was I,II,III,IV,V, let's see what will happen in the future

Are not especially powerful price movements often characterized by extensions in EW analysis?

What we have here is a great capitulation in the wake of the biggest bitcoin bubble collapse to date. Above $110, sellers may be motivated by profit-taking, but below $110 nearly everyone who bought BTC between April 1 and May 2 is not taking profits when they sell, they are staunching a loss, and potentially very big losses. And on the other hand, smart money that sold above current levels is strongly motivated by bargain hunting. These two forces, distressed sellers and bargain-hunting buyers, oscillate in initiative thus causing the wave patterns - right?

KillaMarci

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Bitcoin Mininode...and proud!

Quote from: paulie_w on May 03, 2013, 09:36:35 AM

Quote from: DougTanner on May 03, 2013, 09:23:12 AM

Quote from: crazy_rabbit on May 03, 2013, 09:17:39 AM

me and my fiat are taking a break this weekend. I think maybe it's not dissapearing into coins but it's just off the order book. I have no idea what to bid at the moment.

I just put lots of bids from $75 down to $10. Whatever the bottom is I'll catch a good chunk of it.

what is the best strategy for doing this?

I usually pick a spot where I want to begin, and double the amount I'm going to buy the lower it gets.

So for example
0.1BTC @ $80
0.2BTC @ $78
0.4BTC @ $76
0.8BTC @ $74

etc.

I'm sure theres different strategies for this but I find this one the most logical sounding.

Gabi

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If you want to walk on water, get out of the boat

Look, cheap coins!

Jaroslaw

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supernode

it will drop for sure. just wait for some big fish to see this stupid bulls who create this unrealistick peak above 90$ it will vanish

paulie_w

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Quote from: DougTanner on May 03, 2013, 09:23:12 AM

Quote from: crazy_rabbit on May 03, 2013, 09:17:39 AM

me and my fiat are taking a break this weekend. I think maybe it's not dissapearing into coins but it's just off the order book. I have no idea what to bid at the moment.

I just put lots of bids from $75 down to $10. Whatever the bottom is I'll catch a good chunk of it.

what is the best strategy for doing this?

Richy_T

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1RichyTrEwPYjZSeAYxeiFBNnKC9UjC5k

Quote from: Rockford on May 03, 2013, 09:27:08 AM

agreed.

or the big manipulator behind this is tricking masses into that thought and has some other plans for the weekend

I got out at a pretty comfortable at 125 and now wait for a convincing entrypoint somewehre in the future.
I wont bother about catching the exact bottom as I am long for 99% of my BTC

Yeah, that's a pretty big "if". Seems very possible but if patterns always repeated, it would already be accounted for.

On the other hand, people will hold on as long as possible, often leading to a long slide.

On the third hand, Bitcoin fundamentals are still solid in my book. So I'll keep hold of what I've got.

AmazonStuff

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I guess this was I,II,III,IV,V, let's see what will happen in the future

SlipperySlope

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Stephen Reed

The next several hours will reveal whether the price movement stays in the channel.

Rockford

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Quote from: SlipperySlope on May 03, 2013, 09:15:12 AM

If there indeed is another leg down, and it has similar dimensions, then we could see an approach down to $70 in about 24 hours.

However volume typically drops off on Friday afternoon and over the weekend. The bottom of the capitulation may not therefore occur until Monday. Back in August 2011 the bottom of the first and greatest capitulation was a massive, high volume sell off, dropping the last 15% in two hours - which is the sort of volume one could expect on Monday.

agreed.

or the big manipulator behind this is tricking masses into that thought and has some other plans for the weekend

I got out at a pretty comfortable at 125 and now wait for a convincing entrypoint somewehre in the future.
I wont bother about catching the exact bottom as I am long for 99% of my BTC

DougTanner

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Quote from: crazy_rabbit on May 03, 2013, 09:17:39 AM

me and my fiat are taking a break this weekend. I think maybe it's not dissapearing into coins but it's just off the order book. I have no idea what to bid at the moment.

I just put lots of bids from $75 down to $10. Whatever the bottom is I'll catch a good chunk of it.

Eldcar

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Quote from: KillaMarci on May 03, 2013, 09:19:13 AM

Quote from: crazy_rabbit on May 03, 2013, 09:17:39 AM

me and my fiat are taking a break this weekend. I think maybe it's not dissapearing into coins but it's just off the order book. I have no idea what to bid at the moment.

Haha yea, pretty much the same for me. I put in a buy order at $81, thanks to my luck the low on Bitstamp was $81.5 though so I just missed the train. Sad

you're non the only one....

KillaMarci

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Bitcoin Mininode...and proud!

Quote from: crazy_rabbit on May 03, 2013, 09:17:39 AM

me and my fiat are taking a break this weekend. I think maybe it's not dissapearing into coins but it's just off the order book. I have no idea what to bid at the moment.

Haha yea, pretty much the same for me. I put in a buy order at $81, thanks to my luck the low on Bitstamp was $81.5 though so I just missed the train. Sad

crazy_rabbit

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RUM AND CARROTS: A PIRATE LIFE FOR ME

me and my fiat are taking a break this weekend. I think maybe it's not dissapearing into coins but it's just off the order book. I have no idea what to bid at the moment.

fitty

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CryptoTalk.Org - Get Paid for every Post!

Can't figure out if that's a dragon or bull. Either way it has balls of steel. Grin

SlipperySlope

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Stephen Reed

If there indeed is another leg down, and it has similar dimensions, then we could see an approach down to $70 in about 24 hours.

However volume typically drops off on Friday afternoon and over the weekend. The bottom of the capitulation may not therefore occur until Monday. Back in August 2011, the bottom of the first and greatest capitulation was a massive, high volume sell off, dropping the last 15% in two hours - which is the sort of volume one could expect on Monday.

DougTanner

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Fiat still disappearing at an exponential rate.

samurai1200

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local top will be top of this 2-day channel, or top of bollinger band (couple hour difference).

edit: may have spoken too soon!

Richy_T

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Quote from: SlipperySlope on May 03, 2013, 08:54:31 AM

Quote

I guess that means I should probably change my password.

Not necessarily, see what the official explanation is. Domain hacking affects domain name servers, not the web server hosting the forum - right?

Yeah. But my automated script attempts to log in, meaning it passes my user & pass to whatever webserver it attempts to connect to. If the domain is hijacked, that could be a rogue webserver that's collecting user info. It could also spoof if you log in manually too.

dohse

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https://i.imgur.com/wGheqEz.png

Watching these walls rise and fall is like watching an equalizer.

awakening

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Well, thanks to this bull I almost got no losses. Grin

Now buying at 70$

Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 33775. (Read 26498468 times)