Dude look at the fundamentals:
1) Segregated witness pull request meets the expected delivery time: very positive
2) New version of Bitcoin to be released with a lot of new features due the segregated witness pull request: very positive
3) SegWit has already mined blocks bigger than 3MB and is proving Bitcoin will scale: very positive
4) The powergrab attempts by Classiccoin are dying and Core roadmap is gaining more and more support: very positive
5) Sidechains and Lightning Network sooner than expected, several companies working on it (no more Blockstream FUD), Rootstock soon will make ETH irrelevant: very positive
6) The halvening: there's always hype that the price will explode
So 1 to 5 points will collide with the mega hype of 6 and together will cause a price explosion in the near future (1 to 3 months). Time to look at this and not get too lost with technical analysis to be honest.
1) Segregated witness pull request meets the expected delivery time: very positive
2) New version of Bitcoin to be released with a lot of new features due the segregated witness pull request: very positive
3) SegWit has already mined blocks bigger than 3MB and is proving Bitcoin will scale: very positive
4) The powergrab attempts by Classiccoin are dying and Core roadmap is gaining more and more support: very positive
5) Sidechains and Lightning Network sooner than expected, several companies working on it (no more Blockstream FUD), Rootstock soon will make ETH irrelevant: very positive
6) The halvening: there's always hype that the price will explode
So 1 to 5 points will collide with the mega hype of 6 and together will cause a price explosion in the near future (1 to 3 months). Time to look at this and not get too lost with technical analysis to be honest.
I don't care so much about Fundamentals, most of the time, they are just faeries stories for permabulls and permabears to wet their pants about and when we do get a 'hefty' fundamental, such as the Mike Hearn announcement, they are just fodder for the whales to drive the tiddlers into their feeding nets.
Nope! It looks like triangle volume to me. The big confirmation volume will come with a break above the D-Wave high (475 iirc)
Given that I think we both agree that Bitcoin is highly manipulated and that anytime the market moves, isn't so much down to organic demand, but more to do with the whales trying to whip up a frenzy of excitement and/or fear in the tiddlers upon which they feed......
.....this morning, a 3K BTC sell wall was placed on Finex @ $440. Naturally, if one 'really' wants to relieve oneself of 3000 BTC, one does not simply place the whole entire fucking bundle on a big fat round number.
I watched the pump 'come out of nowhere', and seen the way both bid walls and ask walls were manipulated to get as many little fishies to help push BTC up towards the $435.5 Short Stop Liquidity pool, after which point, hapless shorters covering our positions like me, drove the rest of the rise up to $439. And now, we have a 3K Sell Wall at $440. From my past experience, such blatant market engineering bids are erected to be devoured......'they' will leave this hanging around for a period of time in order to make sure all the holders of potential BTC trading capital see it, then at some point, 'they' will devour their own 3K sell wall, and the next leg up to around $448 will commence......unfortunately, I won't be trading this one. A lot nearer the end of the move (imo) than the start, and there is certainly a lot of space down below for this to correct into.........
.......this might be one good reason why other people may want to consider trading this.....the one's that I call, but don't take, have an uncanny knack of turning out results, whilst the ones I am über confident in, such as the one in my OP...well.....
A couple of years ago, I had a little conversation with our old friend Goomboo. He confirmed some things that I saw happening in the market that are very similar to now.
-Place large bid, just out of reach of all but the deepest pockets.
-Watch as the little guys place bids in front assuming "this guy is for real!" and feel the safety of the wall that surely won't let the price fall too far.
-yank the wall when bid depth is sufficient for today's dose of volatility.
-Dump (called The Hammer for obvious reasons)
This works for the other direction of course. In this case, spike the price up first, then halt the fomo by placing a large-ish ask a little above spot while 'they' accumulate some of the quick buck seekers' sell pressure. "Now the top is in for sure, right?" Nope. "Well who would stick a profit taking wall out in the middle? This must be it!". Little guys sell and watch as the wall is pulled and the next move higher commences. Left in a state of shock and awe, they frantically try to figure out what just happened. "Should I buy back? Right now it's a small loss of coins, but if I don't, and it continues, then it'll be bigger... Fuck it! I'll buy back" This all happens just as the top has been seen and they are now the next gen bag holders.
Like sands through the hourglass, so are the cycles of Bitcoin trading