Re: Wall Observer - MtGoxUSD wall movement tracker - Hardcore
Yes, I guess I should quote about the traps (just check the dates, all these quotes are from the massive dip to $66 before the last trap, which started on July 6th):
Still way to go before the very bottom. Summer is still at the beginning. There will be bounces, traps can be long... Until another dump cycle begins.
Bull traps are expected but bounces has been quite smallish during the crash from the $90s. I guess the big one will arrive soon... But nevertheless fear is taking over.
And the bounce finally arrived, the day after (July, 6th) - and that's why I bought at $68 to play that bounce. FYI: I already sold. Did you?
Now, BTC is following a consistent downwards trend since April, 10th, full of bull traps and sucker rallies, but a consistent downwards trend nevertheless.
Now everybody is aware that BTC already survived a massive bubble deflation, so there are not so many "Bitcoin is a scam" believers. That and the bigger USD volume thrown at BTC during this bubble will make perma-bulls to live in a longer denial, thus lengthening their own suffering.
Still a couple of epic traps to go before despair and capitulation. I still don't think that the bear will last for multiple years as Birght Anarchist says, for sure many months to come, but 2/3 years seems a bit too much for BTC standards. Anyhow, BrightAnarchist got it right so far, let's grab some popcorn and see how this plays out.
Still a couple of epic traps to go before despair and capitulation. I still don't think that the bear will last for multiple years as Birght Anarchist says, for sure many months to come, but 2/3 years seems a bit too much for BTC standards. Anyhow, BrightAnarchist got it right so far, let's grab some popcorn and see how this plays out.
Quickly wiring in some money so I can buy at the bottom.
Still way to go before the very bottom. Summer is still at the beginning. There will be bounces, traps can be long... Until another dump cycle begins.
Lots of dumps too, that last one was expensive though. Doubt they can afford to push it much lower without some big buys.
Bull traps are expected but bounces has been quite smallish during the crash from the $90s. I guess the big one will arrive soon... But nevertheless fear is taking over.
And the bounce finally arrived, the day after (July, 6th) - and that's why I bought at $68 to play that bounce. FYI: I already sold. Did you?