Strong downward pressure guys. Hold on tight. On the brink of sub 300 again on some exchanges.

Why the hell is LBC being pumped again?. I saw this days ago. Up almost 50%. It's not nearly as developed as florin/Alexandria.

Sub 300 on Gemini

Tired of this shit. Sent all my eth to poloniex. Will cash out to usdt on next wave. Report back.

Should've could've would've shorted

(06-15-2017 06:29 AM)Travel Museums Wrote:  Man wish I switched all my ETH to poloniex and locked in a USDT trade in 350-400 range. Missing out on profit to ride the roller coaster is bullshit.

This is part of the game man. Think of all the guys who bought BTC at 5$ and sold at 20-200 for a 5-6 figure gain when it could have been 7-8.

You are either a trader or you believe in the very long term.

From a technical standpoint:

The 20 day moving average is at 267. We could find support there. Ethereum has been following it's 5 day moving average up on this advance.

Its 5 day moving average...

That's insane. Take it from me, someone who buys stocks based on TA.

When a stock simply follows its 20 day moving average, that's a stronger than usual advance. But 5 day....

Some strong stocks follow their 50 DMA's for long advances. Now I hope we don't go that low, because that's around 215ish.

Hopefully this is normal "tennis ball" action on the advance.

I see potential areas of support at the 20 DMA like I stated.

After that, 250ish and 216ish.

Ideally, we'll see it touch the 20 day ( or stay above it) then end the session at the top range of the day today or tomorrow. If this happens, it could signal a bottoming area for a potential cup-like base.

Only my ideal scenario of course. Let's see.

(06-15-2017 08:38 AM)Jaydublin Wrote:  

(06-15-2017 06:29 AM)Travel Museums Wrote:  Man wish I switched all my ETH to poloniex and locked in a USDT trade in 350-400 range. Missing out on profit to ride the roller coaster is bullshit.

This is part of the game man. Think of all the guys who bought BTC at 5$ and sold at 20-200 for a 5-6 figure gain when it could have been 7-8.

You are either a trader or you believe in the very long term.

You are correct that we are in a kind of normalcy in terms of the market, there are ups and downs and extremes - maybe even more true the smaller the market cap the more easily the price can be manipulated, and the smaller the liquidation avenues, the more easily manipulated.

Accordingly, I have been looking at some of the charts, and I had already asserted that BTC could have three legs in this particular correction cycle, and this appears to be leg two. I would be surprised if there are more legs in the correction cycle, but then if it becomes too much out of the expectations, then they dynamics have changed. Anyhow, if we are in the middle of correction leg two, we are still waiting to see how low it will go.. maybe a bit below $2k? possibly? And the third leg could go below $1200, possibly? Now on the upside, we could get another test of $3k and at that point either have a double top or break through and we are talking bull markets again.. but at the moment, the more immediate issue is the extent of the downwards correction(s).

Regarding ETH, I get the sense that the correction(s) could be much more severe, and really this only seems to be the beginning of a first leg, and yeah of course, there does not need to be two or three legs in a correction, but three correction legs surely should be within normal expectations, especially after several weeks of a bull run, and even though Bitcoin's latest bull upspurt was from $890 to $2980, ETH's latest bullspurt seems to have been from around $15 to $415, so the potential for the correction in ETH seems to be much greater in ETH - at least in terms of percentages.. and even relative gradualness of the price rise for each.

We will see. There are no strict rules, but momentum can be quite difficult to fight - and there are folks who purposefully attempt to take advantage of changes in momentum to cause extreme outcomes.

(06-15-2017 08:46 AM)robreke Wrote:  From a technical standpoint:

The 20 day moving average is at 267. We could find support there. Ethereum has been following it's 5 day moving average up on this advance.

Its 5 day moving average...

That's insane. Take it from me, someone who buys stocks based on TA.

When a stock simply follows its 20 day moving average, that's a stronger than usual advance. But 5 day....

Some strong stocks follow their 50 DMA's for long advances. Now I hope we don't go that low, because that's around 215ish.

Hopefully this is normal "tennis ball" action on the advance.

I see potential areas of support at the 20 DMA like I stated.

After that, 250ish and 216ish.

Ideally, we'll see it touch the 20 day ( or stay above it) then end the session at the top range of the day today or tomorrow. If this happens, it could signal a bottoming area for a potential cup-like base.

Only my ideal scenario of course. Let's see.

Yessir. I also am expecting support around 260-270. Haven't placed any buys yet, but watching closely.

Hmmmm. How far down can this go?

At what point do I stand by my convictions and HOLD and at what point do I be realistic, dump everything while I can still collect a 4 figure profit, and then plan to buy back in...?

We're pretty much hanging out at 290 right now. Y'all see another dip coming foreal? Interesting.

My logical mind tells me to just wait a few weeks or months though and watch this thing go back up.

Also for you guys who are buying, are you on a strict schedule where you buy a certain amount every week/month or do you take opportunities like this to stock up on cheap ETH?

(06-15-2017 10:15 AM)Darkwing Buck Wrote:  Hmmmm. How far down can this go?

At what point do I stand by my convictions and HOLD and at what point do I be realistic, dump everything while I can still collect a 4 figure profit, and then plan to buy back in...?

We're pretty much hanging out at 290 right now. Y'all see another dip coming foreal? Interesting.

My logical mind tells me to just wait a few weeks or months though and watch this thing go back up.

Also for you guys who are buying, are you on a strict schedule where you buy a certain amount every week/month or do you take opportunities like this to stock up on cheap ETH?

Being worried can be a bit of a sign of being over invested.

Part of the key is to attempt to create buy and sell orders (or at least price points in your plan) in which you are somewhat neutral regarding whether they occur or not.

One possible solution is selling a small part in order to feel a little more comfortable, but I am sure that will not help if the price then moves against you in that regard.

Don't get me wrong, even folks with the most solid of plans can become a bit nervous when there are more than 10% price moves in a day, and sometimes those 10% or more per day price movements can go on for several days and then add up to amounts that are quite incredible, such as losing well over 70% of value in a week or it could take longer to play out, with ups and downs along the way, and fake outs... all of these are within the realm of normal possibilities, especially in an asset class that is quite immature and price is in the midst of discovery.

(06-15-2017 10:27 AM)JayJuanGee Wrote:  

(06-15-2017 10:15 AM)Darkwing Buck Wrote:  Hmmmm. How far down can this go?

At what point do I stand by my convictions and HOLD and at what point do I be realistic, dump everything while I can still collect a 4 figure profit, and then plan to buy back in...?

We're pretty much hanging out at 290 right now. Y'all see another dip coming foreal? Interesting.

My logical mind tells me to just wait a few weeks or months though and watch this thing go back up.

Also for you guys who are buying, are you on a strict schedule where you buy a certain amount every week/month or do you take opportunities like this to stock up on cheap ETH?

Being worried can be a bit of a sign of being over invested.

Part of the key is to attempt to create buy and sell orders (or at least price points in your plan) in which you are somewhat neutral regarding whether they occur or not.

One possible solution is selling a small part in order to feel a little more comfortable, but I am sure that will not help if the price then moves against you in that regard.

Don't get me wrong, even folks with the most solid of plans can become a bit nervous when there are more than 10% price moves in a day, and sometimes those 10% or more per day price movements can go on for several days and then add up to amounts that are quite incredible, such as losing well over 70% of value in a week or it could take longer to play out, with ups and downs along the way, and fake outs... all of these are within the realm of normal possibilities, especially in an asset class that is quite immature and price is in the midst of discovery.

I'm well aware I'm gambling but it didn't hit home til now. The last month has pretty much been astronomical gains and I think this is the biggest price correction since the bull run began a while ago in April/May.

Watching my money multiply I got complacent plus being new to the space I didn't think about my plan for locking in profits. Realistically I should have recognized SOME profit when we hit $400.

But hey you win or you learn. I'm still doing pretty well as far as my principal so I think I just need to stick to my fundamentals and original plan. Holding time while the market corrects.

Can we speculate on WHY the entire crypto market is correcting like this right now? Like every single coin has taken a hit so what is really going on? When will we run out of sellers?

Guys, you need to calm down and stop talking about shorting at each corrections, just hold your ETH for one year or two and then sell if you want. Shorting after one correction is the worst moove you can do.

We are definitely not "just hanging out around 290". Look at the chart. Much lower highs. Much lower lows. Not huge volume but rising. That all contributes to super strong downward pressure with support waiting at around 250-260. I'm not expecting us to fall through that mark, but it is possible obviously. If we do, fasten your seatbelt.

(06-15-2017 10:33 AM)Darkwing Buck Wrote:  

(06-15-2017 10:27 AM)JayJuanGee Wrote:  [edited out]

I'm well aware I'm gambling but it didn't hit home til now. The last month has pretty much been astronomical gains and I think this is the biggest price correction since the bull run began a while ago in April/May.

Watching my money multiply I got complacent plus being new to the space I didn't think about my plan for locking in profits. Realistically I should have recognized SOME profit when we hit $400.

It is easy to become somewhat complacent or to create a plan that is weak in regards to various contingencies, and has risks too, especially when trends seem to turn.

(06-15-2017 10:33 AM)Darkwing Buck Wrote:  But hey you win or you learn. I'm still doing pretty well as far as my principal so I think I just need to stick to my fundamentals and original plan. Holding time while the market corrects.

Again, I tend to be an incrementalist which is safer, and does not make as much money in the short term... but I would argue does not lose as much either.

(06-15-2017 10:33 AM)Darkwing Buck Wrote:  Can we speculate on WHY the entire crypto market is correcting like this right now?

I think that we already did.

If news comes out, such as the bitmain news, it causes a certain kind of trend. Sure, that news might not be responsible for the whole price movement and it creates a momentum, and once the momentum is created, it can get played by the whales.. and they will attempt to play it to the max.

I also asserted that there is more room for correction when the upwards explosion has been greater, and in retrospect, we can see the extent and the speed of the upward explosion that is currently being corrected.

(06-15-2017 10:33 AM)Darkwing Buck Wrote:  Like every single coin has taken a hit so what is really going on? When will we run out of sellers?

Why not? They tend to be related, and initial dumps may be contagious, but at some point there could be splitting off too. It's almost inevitable that there is going to be variance and splitting off, but sometimes it can take a bit of time to play out concerning differentiation of coins.

Also, hopefully you are familiar with the concept, " markets can remain irrational longer than you can remain solvent" so sometimes it can take a while to reverse, and sometimes you do not have a sufficient amount of time, which would indicate that you are over invested. Surely you are in the best position to figure out whether you are overinvested and if so, what to do about it.

I think this song describes the forum ETH mood. Sink baby, sink!!! Not hating, I just want to scoop some on the low.





Hopefully this mini crash can wipe out some of the shitposting.

Venture Capitalist Chris Dixon posted a nice round up of posts on various cryptos:

https:[email protected]/crypto-token-...57c32a87d7

(06-15-2017 11:07 AM)Cattle Rustler Wrote:  I think this song describes the forum ETH mood. Sink baby, sink!!! Not hating, I just want to scoop some on the low.





Hopefully this mini crash can wipe out some of the shitposting.

Even though I bought some in the 300s, I'm not even mad at you. I wanna pick up some of that sweet sub 300 ETH as well. Stupid ass Gemini says I can add 500 to my account every business day but I think it literally has it on a 24 hour timer which is annoying.

I bought some during the dip yesterday afternoon and when I tried to add more money early this morning to buy some more it wouldn't let me.

Just bought into this while it was below 300 dollars a piece. Made a lot of money with holding bitcoin over the course of the last 2 years, so Im hoping to replicate some success here. Also bought a shit load of tokens in Golem on a just incase. Read into it abit, im a network security engineer so to me it sounds like it has potential. I was right about bitcoin back when it was first released but couldnt buy into it cause i was a poor student and exchanges didn't exist where I lived at the time. I was also unfortunately right about Eth, I didn't want to be because I was banking on Bitcoin just destroying the competition but yeah was wrong, just buy the dip etc...

That was one crazy night/morning. Held on to all my ETH and made a lot of new buys at some of the lowest points. Including ETC and XMR

(06-15-2017 10:15 AM)Darkwing Buck Wrote:  Hmmmm. How far down can this go?

At what point do I stand by my convictions and HOLD and at what point do I be realistic, dump everything while I can still collect a 4 figure profit, and then plan to buyre back in...?

We're pretty much hanging out at 290 right now. Y'all see another dip coming foreal? Interesting.

My logical mind tells me to just wait a few weeks or months though and watch this thing go back up.

Also for you guys who are buying, are you on a strict schedule where you buy a certain amount every week/month or do you take opportunities like this to stock up on cheap ETH?

Quite interesting that yesterday it was going to $500 and sellers were stupid. Today you're considering selling.

(06-15-2017 01:41 PM)Satoshi Wrote:  

(06-15-2017 10:15 AM)Darkwing Buck Wrote:  Hmmmm. How far down can this go?

At what point do I stand by my convictions and HOLD and at what point do I be realistic, dump everything while I can still collect a 4 figure profit, and then plan to buyre back in...?

We're pretty much hanging out at 290 right now. Y'all see another dip coming foreal? Interesting.

My logical mind tells me to just wait a few weeks or months though and watch this thing go back up.

Also for you guys who are buying, are you on a strict schedule where you buy a certain amount every week/month or do you take opportunities like this to stock up on cheap ETH?

Quite interesting that yesterday it was going to $500 and sellers were stupid. Today you're considering selling.

Ya got me. Maybe the guy who called out my arrogance was right. Though I'm still operating at a profit I guess because I bought in during the bull run I never imagined such a sharp price drop to where I would question my profit. I'm still long on ETH but at a certain point financially it makes more sense to sell and claim profit and just re-enter.

I honestly didn't plan that far ahead because since I bought in at 80 something per ETH it's been SO bullish it's been nothing but ATHs every couple days.

But like I clarified earlier OBVIOUSLY the people selling who have been holding for a while makes sense but for people who bought in recently above the current price selling is a bad idea IMO.

So while I appreciate your tongue in cheek comment, we've already gone over this.

Also I have yet to sell a single ETH since I originally started buying. I've also bought at several points during this current dip so clearly I'm not looking to sell out soon.

Welcome to a speculative instrument, boys. Should try trading oil futures next.

This is exactly why I limited my exposure.

Following these things on the daily will drive you nuts if you can't afford to lose the money that you have in it.

I'm hoping that people who are upset about the churn here have real savings to fall back on.

I'm not selling anything until next year or until the price is ridiculously high and I significantly increase my value in dollars to actually recover something after taxes. But, I'm not counting on it...

I can afford to lose my money. Doesn't mean I'm not adamant about maximizing my profit and minimizing loss. Especially since this is my first rodeo with trading/investing. I want fuccin money shiiieeet.

I mean I'm not going to be homeless cuz of this shit but that doesn't mean I wanna throw away thousands of dollars. This shit is volatile none of us are here for a "safe" investment or we would have bought treasury bonds or proven stock portfolios.

I am counting on the price to recover or I wouldn't have invested at all. I'm not gonna pretend like I don't care about the prices or my money so I can come off as some calm, cool collected stoic investor who never waivers and doesn't give a damn. I mean even with less than adequate knowledge I'm at almost 100% return on my original investment after only a month and I'm sitting here complaining about it. Regular investors are happy to do 8% in a year if I understand correctly. This is some cool and wild shit.

I'm out here like Big Worm goddammit! I'm stickin to my fundamental plan of holding long term til a certain price but I'll be damned if I don't give a fuck about what happens and don't enjoy speculating, commenting, and talking about it. What's the point of this thread if we can't do that?