Quote from: bryant.coleman on June 01, 2014, 06:52:39 AM

I have studied the charts for hours, and this is what I have found out.

1. Most of the times when Bitcoin rises, it rises around 5% to 10% in a matter of 30-40 minutes, and then it stays flat for a few hours.

2. Almost all of these rises are accounted for by bulk purchases of 1,000 or more coins.

Yes. It stinks of utter fucking bullshit to me. Bitcoin rises like an inverted crashing market and crashes like an inverted rising market. Thus it is safe to assume that Bitcoin isn't essentially rising due to the effects of an optimistic or exuberant mass market psychology. Most market participants seem to be behaving very cautiously, only finding their courage to buy coin when some big fucking 1000 BTC buy in has ate away at a significant resistance point. This and the fact that China with their high frequency trading exchanges is leading on any significant move 9/10 times.

It is clearly a game of puppets on strings. The consolidation periods also seem to consist of some whale swishing around coins within a narrow price range in order to buff up the volume (good for the most popular indicators). Then he may attempt to tease or gauge the market with some 1500BTC ASK wall, which he will leave for a few hours or so, and then magically vanish it looking for a response from all the little fishies and all this kind of crap. Although we must surely to fuck be due for a correction very soon (but then again, I have been saying that since $500 range), this could go up a whole lot further yet. Perhaps even with the relatively very low volume, the whales who are driving this engineered bull run can keep stringing things along up until over new ATHs? Perhaps they are trying to create another mania where clueless fucks like I was circa Nov 2013 come panic charging into Bitcoin with big lumps of capital?

I am (still) anticipating a strong correction, but feel that Bitcoin price will go up a whole lot further yet. However, this just isn't an organic market. Yet another engineered pump. How high will the whale(s) need to pump it, possibly at a net loss for them, before the next tranche of Joe Public comes running into Bitcoin and buying up whale BTC with 'genuine' trade volume right at the top of the market?