Bitcoin Thread - 2018

John Tempus

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in other words a fakeout?
haha, wasn't meant to be serious. :)

I was claiming that the current movement until it breaks at least 4300 and keeps going is similar to people who like scatsex. Apparently they enjoy it but to me it is beyond confusing how they could enjoy it. :p
 

phly

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haha, wasn't meant to be serious. :)

I was claiming that the current movement until it breaks at least 4300 and keeps going is similar to people who like scatsex. Apparently they enjoy it but to me it is beyond confusing how they could enjoy it. :p
Ah makes sense now... I do still see us touching $4400 but i will keep my gut TA to myself and let the experts talk.
 

John Tempus

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Ah makes sense now... I do still see us touching $4400 but i will keep my gut TA to myself and let the experts talk.
My personal opinion at this point which might be off on reality is that the current rally is somehow connected to the due date for Ethereum update. I think if the rally can continue even at a slower pace beyond the Ethereum update then only will I have confidence in the rally.

I do prefer a more sideways up/down direction than a constant bullrun. Much more too be made on the sideways.
 

phly

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Ahahaha, holy ****.

Just over $105million in longs liquidated in that punishing move.

Victory!!
Lol - one can never win this market. Just when one thinks they have it all figured out - they find out that they don't know anything. Infact the market will punish you for thinking you know more than others. For those of us who survived that red candle - we live to assess and analyze and trade another day.
 

SaiyanZ

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Both my accounts are underwater right now... What a move. Thought we'd spend a little time around $4020/$4050 before dump so I was playing with longs there.

No liquidations though so I'm ok for now but a dump below $3550 might hurt.

Looks like we starting the dump cycle again. Fractals could repeat so we might move around like so:

 
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John Tempus

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Both my accounts are underwater right now... What a move. Thought we'd spend a little time around $4020/$4050 before dump so I was playing with longs there.

No liquidations though so I'm ok for now but a dump below $3550 might hurt.

Looks like we starting the dump cycle again. Fractals could repeat so we might move around like so:

I was out of directional ideas so I just stuck with my ANN backup strategy indicated to me to short at 4127. Tend to use it when I am starting to feel to greedy , saved my ass a few times before a pump(shorting) or a dump(longing)

Right before the dump I noticed the initial cause was due to about $10million dump, rest was all avalanche due to liquidations triggering liquidations in a run away effect for an extra $90million. I think we had a ton of people going long at high leverage with maximum greed in their eyes thinking this is the new November 2017 rally.

Wooopeeee!
 

Swa

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Well I missed the rally so somehow I feel vindicated by this. Now if it can just hit the second dump and consolidate I'm ready to get back in.
 

John Tempus

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Well I missed the rally so somehow I feel vindicated by this. Now if it can just hit the second dump and consolidate I'm ready to get back in.
A nice zigzag all the way down to $1000 would make me grin ear to ear.
 

SaiyanZ

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Still waiting for the dump. Think it might happen in the next 2 or 3 hours as soon as $3780 breaks. Expecting around $3680 at least.

 

SaiyanZ

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Dump finally came. Should get back above $3850 again now as the next move. Not sure how long it will take. Might be a couple hours, might be a couple days. Happened three times this way just recently:

 

SaiyanZ

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It pumped back to $3800 way too soon I think. So there wasn't enough time for people to short the lows which liquidations would have given more momentum to pass $3800 and get closer to $3900. Strange thing was also that there was no real change in volume on Bitstamp when it pumped from $3740 to $3800. It just went up with no fight back. Right now it could go either way again because of this lack of consolidation. Chance of another move back down even lower to $3600.

 

John Tempus

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These oddball dump and corrective pumps I nicknamed "The Plumber" cause it resembles the plumbing action of cleaning a big ol poop in a toilet.
 

SaiyanZ

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Looks like this could dump deeper. The move down and up could have just been the noise similar to the other yellow regions before the dump and triangles started forming. It did hit the levels I expected but things happened way too fast. Don't think a decent triangle can form here with those quick spikes up and down unless it dumps and consolidates.

 

SaiyanZ

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Got some movement today finally. I think this is the real dump so probably wont get back above $3750 again without dumping more. Target might be around $3430 like so before consolidation and bounce:



There is some decent support in the $3600/$3680 region though. Until this breaks it's a good area to scalp some longs.

Zoomed in. Still has a few days to reach that point:

 
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