Topic: Stamp is Leading BTC.....That means DUMPAGE! (Read 3699 times)

Yes, I too hope so..the price is falling down to $360 today according to bitstamp prices.I buy some bitcoin today and
hold it for long term, lets see what happen next, price will rise  again and i will sell it for a small profit. I suggest always trade your 50% btc regulerly for small profit. This way we never facing losses on bitcoin.

it can be but they always wait for bad news to dump, so it will be more easy to drag off plenty of weak hands, and buy much cheaper, it's obvious that there is manipulation going on on the market

you see a bad news and two minutes later the market drop, very suspicious

but this is also the reaosn why chinnese will not let the price dump too far, because they own the mine activity, so don't expect stupid price like 200 or sub 300

Yep..when I witnessed that, and seen the way the utter bullshit volume generated by HFT bots with 0% fees (95% of it down at very bottom of 1Hr break out candle) followed by the Western Exchanges chasing the CNY up the chart, with all the theories about 'Chinese Investors Fleeing their stocks and/or Yuan', I realised what an utter croc of shit this whole market is. Fucking faeries tales plucked from the news to fit clear manipulated events.....or indeed, clear manipulated events timed to fit news events in order to give pump veneer of legitimacy.

China owns Bitcoin folks. They have co-opted it, and can and will do with it, what they will. For this reason, I think we can write off a new ATH being reached for a very long time, if at all, and expect lots and lots of volatility. Wild ramps followed by brutal corrections all the way up $1000 is my guess. No easy parabolic bull markets like BTC seen before.

Atleast one intelligent answer...i second that and this will probably also happen.
I don't understand these panic threads at all.

I see people blaming Mike Hearn and his ramblings for the dumps, but IMO it's all the work of the Chinese manipulators.
A week ago they painted the tape with the pump that seemed to break the triple top, encouraging bidders on western
exchanges to build up their bids, but now that the uptrend was obviously exhausted, they decided to dump (mainly not in China),
and perform the capital transfer out of mainland China with a profit, while it's still possible.
Oh, and daily MACD is very close to crossing to negative, so new longs should be carefully taken.

Currently in this counter trend Long Trade. No leverage (yet). Will wait on more reassuring market structure b4 considering any of that.

https://www.tradingview.com/x/9WXs3M8R/

Depends on what you call 'support'.

For me, support is ~ $385. I expect a bounce here. Infact, I am betting on it. After that, $366. In all likelihood, both will be breached in fullness of correction.

Edit: Due to lack of divergence on move down, I scrapped my $386 Blind buy in.....but it looks like a similar priced buy-in could be lining itself up.


Noticed some n00bs in other thread hop up n down about BTC being back up at $397 already "Buy now for last chance at sub $400".....twas the usual assortment of idiots. No way is 1x8 Gann growth sustainable for anything other than very short 'reactionary' time:

https://www.tradingview.com/x/YmzktLfs/


USD charts are über-bearish with big nasty dirty fucking bastard confirmed M, but never mind USD charts, China tells a different story, and it is China after all that tells the BTC story:

https://www.tradingview.com/x/IMUdNBYn/


Don't think for a minute that we seen the lowest point for BTC prior to July 2016 Halving, but a good potential long 'swing trade' entry coming up I suspect.

There is a whole cluster of support lines between $400 and $350 and one of them should stop the correction. This zone has been already tested twice from the upside and looks pretty solid. Also some late buyers will want to snatch few coins at discounted prices, so additional buys should pop up at $380 and lower.

Doubt it. Important support has been breached. I am not short, and wouldn't short right at this moment for fear of bounce back which could come at any time and without warning....but next technical support region is in $380s. If we get a good bounce, then I would be hunting shorts, along with thousands of others no doubt which is why this is gonna be tough to trade.

Shit, looks like we will hit below 400$ just about now. I hope it will recover and stay above 400$ for a while.

Yet another test of the support zone $350-400 was due and is just playing out right now. The bears are throwing all but kitchen sink in an attempt to drive the price lower, but the support cluster looks very solid to me. Also, the quality of the bear news is somehow disputable: Cryptsy was badly ill for a long time (my first bad experience with them dates back to early 2014, and I suppose I was not only one in here having the funds stucked in limbo for 3 weeks or more), Mr. Hearn was very critical in the past two years, etc. So it all looks to me like the test of the mentioned support zone that should give a positive output.

Normally, what people mean by the 'leading' exchange, is the exchange that 'leads' the price action. If the 'leading' exchange was where Bitcoin was traded at the highest price, then LocalBitcoins would be our market 'leader'


That is interesting. Where do you 'watch' these whale accounts?

Bitfinex got down and popped right through what I might have considered a good blind buy in spot, finally putting in some nice potential momentum divergence, that would be typical of a
'bottom'. However, spot has really failed to rebound much from this area, which in light of the shitstorm of negative news...isn't good. Bitstamp has also put in some horrendous market structure, with a great big huge confirmed bear M, ranging from the $470 top, right to where we are right now. Bitfinex is a ball hair away from doing the same....

However, as we all know, China controls Bitcoin, and the CNY markets are some way off from putting in the same über bearish structure as the USD exchanges....

BTC-e, that over-manipulated exchange has no meaning whatsoever. I'd bet that the cryptsy hacking news and Hearn news plus the fabricated volume and the fake pump of China will take its toll this time. Market looked bearish already a week ago and went up for no reason (but manipulation). Prepare for sub 400 prices this weekend.

What do you mean with accounts? Random Bitcoin addresses that you follow with at least 1000BTC in it? These addresses don't necessarily belong to people, they can also be addresses that belong to exchanges or gambling sites, etc.

Currently BTC-e is leading the exchanges if we dont consider the china ones.  Usually finex and stamp are $10-$15 ahead of BTC-e i think its a good sign we'll be at $425- $430 in 24 hours again.

so far the big accounts that I watch (all accounts over 1000 BTC) are increasing their holdings very slightly during this dump, vs dumping themselves.

so, in summary, its the little guys panicking.

If this does Manage to break to the upside though it's going to be a big move

What? Bitcoin has sat at around $430 on anaemic trade volume for the past 24 hours, after a great big correction, and you think it is 'holding at $431'?

But anyhow...if Bitcoin really is being driven by Chinese investors, then on Feb 8th, Bitcoin has a major fundamental event. Chinese New Year, 8th feb 2016. I don't like to take these 'fundamental events' at face value, but if we take this at face value, then it would be a significant Bitcoin cash out event as Chinese everywhere (including those invested in Bitcoin) grab for cash to stick in little red envelopes and hand around their nearest n dearest. When their is a need for cash, I would imagine that for most people, the most high risk assets/investments would be first to get liquidated.

Probably quite a dangerous time to be long, although having said that, It wouldn't surprise me to see Bitcoin getting back up towards upper reaches of the range ~$450, but only so 'they' can offload more Bitcoins on USD exchanges at higher prices.......and then short the fuck out of this mofo. 'IF' Bitcoin is going to go sub $400, then it will likely be on the next major drive down. BTC spent a lot of time up in this range, and failing. I am hoping for a move back up to $450....cos that is where I want to be shorting. Whether I take long trade in an effort to ride the bus back up the hill, remains to be seen. Right now, there are no clear market signals for the immediate future in Bitcoin. Could rally back up towards resistance, may crash down and take out $400. Hence nobody is buying and nobody is selling and therefore, 'stable at $431'.

could take weeks, if it happens at all......

patience.

Can you say when this would happen. End of the month maybe?
It looks like it is holding at $431~ as it has not moved for the entire day from this price.