Quote from: Temp_JayJuanGee on November 20, 2016, 09:58:55 PM

Quote from: calme on November 20, 2016, 04:30:31 PM

it's hard for me to determine the relevancy of Bitstamp. Stamp was the exchange that screamed "dump time," given the ascending wedge. And yet, the big mainland exchanges in fact dumped.

I doubt that one exchange is controlling anything, even if there was one exchange that lead a specific price action.

The fact of the matter remains that once Stamp dumped, others were willing to follow, rather than to just leave Stamp out there on its own.

In other words, the other exchanges were prepared for such a dump... so it did not really matter that much which of the exchanges started it out, whether it was Stamp or some other exchange, and by the time the dump began to happen, the whole market was more or less ready for such a simultaneous dump.

A question now remains about whether such dump is over or do we have more dumping coming in the coming hours, days or week? Otherwise, we could prepare for some additional upwards movement.

Personally, I sense that, absent some fairly significant news or FUD, even if some additional dumping occurs, it's going to be quite difficult to bring BTC prices below $650 and there is likely going to be additional support in the $680 range that needs to be overcome to get us into the mid-$600s in the first place....never say never, but there is likely decent incentives for dumping to force the closing of some longs, if such forcing is possible.

hmm, time will tell. i'm short again but i made a killing shorting overnight so am prepared to lose some of that even if stamp manages to go n. of 730 before more bear time