Bitcoin Thread

[SaiyanZ]

Looks like a fractal. Can't tell much from it except expect a bit of noise.

 

[SaiyanZ]

Dump came already because price had nowhere to go. If same as before it will now go to around $11500, maybe higher. If it goes below $10770 now then it's going to keep trending downwards I think.

 

[John Tempus]

Effectiveness of TA sorta kinda ended before this "bullrun" started. Early part of the year the sideways movement for months TA actually worked as it "Should".

Since the "bullrun" I think mostly all TA at least short term intraday or even intraweek became a guessing game / online slot machine.

There is clearly some heavily orchestrated manipulation that took over since the first price pump from I think $5k levels.

I dont know how this is going to end but the more expensive the price the more the big manipulators is having a field day pumping and dumping unfortunately just based on crude observation.

The one question people do not ask enough is this. How is it possible that so many major exchanges that is not directly physically linked to each others prices is so drastically near same millisecond affected by price movements.

The only time there is any sort of lagging by one exchange is during the masssssssssive bitmex liquidations where price shoot up $500 or drop $500 , every other big pump or dump seems to be correlated at the exact same time across all the major exchanges.

Manipulation or not , there is definitely something stupidly fishy going on.

On another note I am still doing on the outlook well trading on bitmex under current market conditions but only because I am trading like a scared muppet since the huge volatility started up again. Any sensible extended TA based trading ultimately gets you fukked right now or stuck in a hole for days/weeks if you somehow catch the wrong side of pump or dump.

This might sound bizarre but right now I am mostly trading on "feel" than actually giving a **** about practical TA.

 

[SaiyanZ]

Yeah I'm also not really trading based on any TA. I just look at it more for interest sake. Focusing on just catching any breakout now with tight stop losses and this can happen almost anywhere. Managed to catch the $11100 to $10900 move just now. Profits done for the day after being stopped out several times on previous moves.

 

[SaiyanZ]

Noticed something interesting just now when looking at the daily close for the last few days (2am our time). It was almost always the turning point of a move. Since we've been going down for a few hours, seems like high chance it will pump a bit after daily close in 25 mins.

The only odd one out in the last 8 days is the red bubble where it was pumping during the daily close.

 

[John Tempus]

Well interesting observation. Like clockwork massive pump at 2am our time.

If only it was guaranteed but based on just what you pointed out it came true just depends on where it lands.

Now if this is not a clear sign of timed pumping I dont know. The fact it played out I guess at least based on the cycle you showed the one day that didnt play out whoever is pumping/dumping wasnt trading at that time for some reason ? Bots maybe screwed for that day ? lol

 

[SaiyanZ]

Well interesting observation. Like clockwork massive pump at 2am our time.

If only it was guaranteed but based on just what you pointed out it came true just depends on where it lands.

Now if this is not a clear sign of timed pumping I dont know. The fact it played out I guess at least based on the cycle you showed the one day that didnt play out whoever is pumping/dumping wasnt trading at that time for some reason ? Bots maybe screwed for that day ? lol

Yeah I scored off that well. Waited for direction after daily close and bought in after 11000 broke upwards. Already sold at $11250. More profit from one trade than whole day of watching market. Like R50k profit in 5 minutes.

 

[John Tempus]

My signal did trigger buy point at 10966 so I happen to be in the right direction at least.

Still I find it incredibly ludacris that 7 or 8 out of 9 days you pointed out did the exact opposite direction that it closed at before 2am with a pump.

Im staying in my position testing out my new signal tweaks to see if even with vast manipulation going on it can still get safe entry and exits. Its been doing well among the pump and dumps all day so far and now with this massive pump I gotta see if it can get out when it dumps later with reasonable safe profit. Busy tweaking it in order to put it on my bot accounts to take over, Im getting way too burned out doing this **** 24/7 manually.

If this is not obvious blatant evidence of manipulation you can call me dildoman10k

On a side note, we have our BART charts and now do we also have our double middle finger pump volume indicators ? Is it just me or does those 2 look a lot like 2 fukyou middle fingers.

 

[abcab]

Hope you are right. Doing a bit of scalping on Bitfinex, and it looks like the exchange went down about half hour ago. Typically as I opened a long position at 10950, and before I could set up my stoploss and exit points.

Tried reloading a few times, and even rebooted my machine. I can't load the trading screen. Not loading on my phone either. So I'm off to bed and hope things are green in the morning.

 

[SaiyanZ]

My guess is that the market manipulators try and close the price in a way that makes it look like the trend is changing or make it look like the market is more bullish or bearish than it really is. Then whilst people trade based on what the previous daily candle looks like, they go and profit from it.

PS. Looks like I'll be staying up till 2am every night for a while now to try and catch the big move.

 

[John Tempus]

Hope you are right. Doing a bit of scalping on Bitfinex, and it looks like the exchange went down about half hour ago. Typically as I opened a long position at 10950, and before I could set up my stoploss and exit points.

Tried reloading a few times, and even rebooted my machine. I can't load the trading screen. Not loading on my phone either. So I'm off to bed and hope things are green in the morning.

Not sure what kind of scalping your doing ie. between different coins or margin trading ?

If you do any margin trading bitmex is a much better platform, lower fees etc.

If you are scalping between coins that does not involve margintrading(for now) use binance, much better platform than bitfinex.

Bitfinex really does not offer anything that Bitmex or Binance doesnt offer and more.

 

[John Tempus]

My guess is that the market manipulators try and close the price in a way that makes it look like the trend is changing or make it look like the market is more bullish or bearish than it really is. Then whilst people trade based on what the previous daily candle looks like, they go and profit from it.

PS. Looks like I'll be staying up till 2am every night for a while now to try and catch the big move.

Must be a group of whales doing it slowly pumping during the day or slowly bleeding it with dumping then suddenly swings the direction after their positions got filled all day by other traders thinking the market turned.

This pump leadup clearly showed over 200million in shorts were removed from Bitmex, sometimes in 50-100million blocks over just few candles right up until 2am.

The whales who pumped this must have been closing their shorts at market and sometime at limit while taking their profits from the previous day pump move.

If this plays out similar the next couple of nights I may as well not do any fking trading all day long and just put in a trade before 2am until this stops working. So much for analysis and all the TA smuckery that I spend years on just to be outperformed by this lmao.

 

[SaiyanZ]

This pump leadup clearly showed over 200million in shorts were removed from Bitmex, sometimes in 50-100million blocks over just few candles right up until 2am.

Where do you see this info? Coinfarm?

This might be the best indicator for the next few weeks.

 

[Swa]

A lot like the 4-6pm pump we had a year or so ago. Managed to get in around the 11k price point and was panicking a bit there. Now if only it can pump to 12k, need a new stove.

 

[John Tempus]

Where do you see this info? Coinfarm?

This might be the best indicator for the next few weeks.

Yup on coinfarm to make it easy to see visually but by the numbers from the API of bitmex that I have pumping out each minute candle on my side.

The sudden reduction in shorts leading up to the pump at 12am UTC which makes me wonder if this is really a target for whales or some bot operator to dump at start of new day UTC if market rallied or pump if market dumped or whatever their approach is , it seems to be correlated to 12am UTC as you pointed out.

 

[phly]

Here is a wild theory - curious to hear what you guys think - US China trade war. Could it be that the Chinese (whom we know have so much money that they are helping out whole nations) - and are slowly playing a game of chess when everyone else is playing checkers - are massively buying up bitcoin as an alternative hedge due to the escalating trade war? Those in other parts are hedging in gold (which is now spiking up after like 10 years of downward trajectory) whilst China is hedging in "digital gold". It may also explain what Goku observed about the timing of the pumps. 2AM here is Asian open time if i am not mistaken and although BTC is tradable 24hrs - thats when Asia is awake. I recall the BCH pump that was orchestrated once upon a time and that gave me some insight into just how "wild" they can be.

 

[Countcrypto]

Ok so a higher low. Now for a higher high and then we are bullish again? Been beating myself up for not previously selling 11500 and waiting to rebuy at 8500. Is that perspective nullified now? Or should I still sell?

 

[SaiyanZ]

Dump came already because price had nowhere to go. If same as before it will now go to around $11500, maybe higher. If it goes below $10770 now then it's going to keep trending downwards I think.

This one sort of worked out. Broke above the bigger downtrend line and was rejected. So next breakout will be hard to judge/time if still going up.

 

[Countcrypto]

This one sort of worked out. Broke above the bigger downtrend line and was rejected. So next breakout will be hard to judge/time if still going up.

edit. Already played out.

 

[Thor]

Consensus?

Sub or above 10k next week?