When Veeky Forums gets it right

HOW THE FUCK

Biz always knows.

This isnt the real bounce though, that was big money fucking with key reversal points. Its gona have to touch at least 9k before a bigger bounce. Look around 4-5 am hourly mark, that was a bearish reversial it was suppose to dip further. But fomo caused a bigger spike in price, also thats not the real resistance, its around 10400. But I dont see it pushing past 10600 today. It needs to touch that 9k base line.

>Its gona have to touch at least 9k before a bigger bounce.
Why? It seems that there's a lot of people willing to buy it when it falls to the 9.3-9.5 range.

>This isnt the real bounce though, that was big money fucking with key reversal points
more like big money fucking with people who shorted to late

>It seems that there's a lot of people willing to buy it when it falls to the 9.3-9.5 range.
there were a lot of people willing to buy at 7-8k before we went 6k
a lot of them were liquidated or panic sold
market is minority making money by any means possible, not whatever majority wants

Nothing HAS to happen for anything to happen.

>you don't have to take the first step in order to take the second step

when you are a market maker you have weekly strategies on a month to month timeline.

if you make mad money for 4 weeks in a row you don't just stop on week 5 because you are afraid of a loss... your profits cover that already.

no, you wake up at Goldman Sachs o'clock on the start of the business week, and pump that shit like you did the previous 4 weeks.

the strategy of pumping the well doesn't stop just because price and volume drops of a cliff. you pump it until it's dry and keep pulling it to make absolutely sure. only then do you let the market drop.

now that they've bought poloniex they will make money coming and going so expect more pumping between 9 and 10.4 and may God have mercy on your soul for fomoing in

unregulated market? ah, not exactly. they regulate it now

>a lot of people willing to buy it

it's literally a handful of people. look at the price moving orders. "a lot of people" aren't moving $2 million dollars of crypto.

not that people are really involved much. these are algorithms perfected in the much bigger regulated markets.

It was the Oracle.

>it's literally a handful of people.
People (or algos) executing 40+ BTC market buy orders probably know what they're doing, right? RIGHT?

no, just because algos or whoever push the price up doesn't mean that someone won't dump on everyone at the top. just look at what happened when it got back up to 10500 and then someone market sold all the way down to 9500. this is why volume matters alot, and right now, no one is buying bitcoin

>this is why volume matters alot, and right now, no one is buying bitcoin
Maybe volume is low in some exchanges, but overall it's still much higher than pre-November 2017 levels. You have to look at the average volume across exchanges. See pic related.

oh yeah... they already sold on the way up as orders backfilled the buy side

it's not like they are retarded hodlers. their algos are programmed by talented quants. they are making money going up and going down. it's coming back down though over next 24hours. the key to running the market is keeping the price in a high range with a volatility that keeps market interested. you don't let the bottom drop out because it makes it look like a toxic asset. By supporting the price you encourage continued interest in your market.

the flash crash was amateur money. there are several players making the market. some are pros and some are not.

>
yea i can believe that. it sucks knowing that you are at the whims of a few people with tons of btc, but i guess that's the risk of being in the 1% of the population who own it. do you think they will let it go below 8k?

>do you think they will let it go below 8k?
That would be stupid... as said, you need to keep the price at healthy levels to keep the market interested. There's no reason to dump now after a 50% retrace form ATH. They could pump this to 50-100k by the end of the year and then dump at the next ATH.

only if it hangs around at 8.5 for a while

>They could pump this to 50-100k
So losers like you can make money? If they wanted to do that they would do it when market optimism was at an ATH(20k). Keep dreaming dude. Whatever you need to tell yourself.

Just stop posting.

>So losers like you can make money?
They don't need to buy BTC to push the price up. All they need to do is to put some 60 BTC buy walls on GDAX and let coinbase nomies buy in.

This.

i mean, i dont see why not, its not like 8k is some crazy low number....its still within reasonable retracement and could easily still jump to 50k within the year. now if they dumped it to 4k then yes, everyone will think the bubble has burst and we will see stagnation for a while.

>its not like 8k is some crazy low number...
8k is below the 200 day moving average.
What has kept BTC going up is that it hardly ever dips below that MA line. If it falls below it and it stays there, new money stops coming in. So it's in the whales' best interest to keep BTC above 200 DMA.