Bitcoin Thread

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gripen5221 said:
Quick move upwards....and then down we go!

Bull trap all along......the bears have filled up on BTC shorts. Now time to put that into play.
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Yeah I can see the number of shorts are increasing and didn't drop when we went below $8.3k. People are loading up on shorts again. Although I'm guessing there's a lot of stop losses around the $8.5k/$8.6k region which could send us up further if we manage to reach that area to trigger them.
 
yarrr, can this thing just fall to my buy zones already, taking forever
 
SaiyanZ said:
We have liftoff to $8.5k. Looks like many short positions are going to get killed.
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Lol what?

The introduction of shorts was one of the reasons btc fell by half from its highs.

In other words they have been doing the killing
 
saturnz said:
Lol what?

The introduction of shorts was one of the reasons btc fell by half from its highs.

In other words they have been doing the killing
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He means that many people have taken short term short positions, if it goes too high their stop losses get triggered. When stop losses get triggered it's essentially a whole lot of people trying to buy at once which helps send the price up much quicker in the short term.
 
I have my doubts, shorts will only feel the squeeze if the market behaves in the way it did last year.
 
saturnz said:
I have my doubts, shorts will only feel the squeeze if the market behaves in the way it did last year.
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We're talking very very short term here, so let's say people shorted the market from $8400 expecting it to go down to $8000 with stop losses at $8600 sort of thing.
 
L10Yn said:
We're talking very very short term here, so let's say people shorted the market from $8400 expecting it to go down to $8000 with stop losses at $8600 sort of thing.
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Oh you mean retail n00bs, they get killed in short and long markets. Nothing to write home about.
 
digitalis said:
Awesome article. Now I feel better about losing all that money :crylaugh:
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I don't think you ever stop kicking yourself.
At best you learn to kick yourself once and move on.
I'm still kicking myself for not taking full advantage of the price in Nov/Dec before it dropped. Should've shifted a lot more (altcoins) into fiat/tether. Still in profit, but could've increased some holdings by a huge amount. Ah well :).
 
Another head and shoulders pattern seems to have formed over the last 9 hours. This one normally means we about to drop. I won't trade based on it but lets see if true.

head.jpg
 
People have been selling all day on Luno just above R105k. Everything is set up for a FOMO pump.
 
*SynergyX* said:
whereabouts?


looks like another breakout attempt now --- if it fails again we should get a drop
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failed again at 8600...:erm:

winding up for another go at 6pm -- > or daily algo dump

to much sideways action, no clear direction
 
broadone said:
Out of interest, how often do you manage to get 5% or more per day?
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Last I got that was last year when Cyril was elected and everybody dumped.

Sly21C said:
So you're saying it'll dip to $1k and never rise again? It'll never go to $20k and beyond?
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Leave him. He's as equally fanatical as those saying it will reach $50k by the end of the year. It will be trading between 6k and 15k for the foreseeable future bar a few exceptions perhaps.

Sinbad said:
You pervs are all going to jail.




https://amp.theguardian.com/technol...se-imagery-bitcoin-blockchain-illegal-content
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Seems there isn't enough naturally negative news for some...
 
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