Why would someone stop mining when the price drops?
I don't get it, unless they don't understand the multipool.

I know what you mean mate but don't you get it? There are 100 more whales in blackcoin that can and will do the same thing. This was meant to be fair distribution and now we see the ugly side of even a 1-2% bagholder just sitting there dumping in small amounts so they can exit. When one whale is finished, the price will rise abit and then get pushed down at the next whale's exit point. If there are 20 whales each taking ~3 days to dump then we're looking at at least 3 months of dumping. Volume won't hold that long investors will get bored.

Prove me wrong though, happy to jump back in if the trend looks good.

See those round sell numbers? That's a whale trying to exit the market with 1million + coins.

This will take days. And let's hope there's only one.

Price stabilising around 20k for a few days will make me bullish if we still have a good mining pool and trading volume. Stay tuned.

Intro to Elliott Wave Theory

Since MintPal is being a bastard tonight and not loading any charts for me, leaving me without an ability to do continued Wyckoff volume analysis, I'll go into another pretty interesting form of technical analysis and show you some Elliott Wave Theory.
In it's basic form, Elliott Wave Theory can provide a roadmap for where things currently stand. I've used it to trade stocks, bonds, currencies and now crypto-currencies. Sometimes successfully, sometimes not successfully.
Here is the basic premise: prices move up in 5 distinct 'waves'. Wave 1 up, wave 2 down, wave 3 up (and typically the strongest), wave 4 down (and typically does NOT touch wave 1 high) and finale with wave 5 which can be volatile and emotional-ridden. After Wave 5's peak you see dramatic declines at first, signifying wave 'a' down, wave 'b' then has some sort of rally which fizzles and then wave 'c' is capitulation but does NOT break below wave 1 (if it does, head for the hills because the thing is dead).
From there the entire Wave 1-5 rally becomes a larger Wave 1 and after the a-b-c correction completes it becomes a large Wave 2. From there a new Wave 3 starts up and is far larger than the entire large Wave 1 (made up of the 1-5 rally). Here's a visual if I lost you:


And here's how I see BlackCoin now (sorry, Poloniex chart):


We have just completed a near-perfect 5-wave rally, which could (Elliott Wave technicians use could a lot) now be a larger Wave 1, and we may (Elliott Wave technicians use may a lot, too) be a corresponding perfect a-b-c correction that is now a wave 2. From here we might be close to starting a massive Wave 3....of course we might also have completed a larger 'A' wave and could be in store for a big 'B' rally wave (not likely to new highs) which may then be followed by a big wave C decline back to these levels or lower, or overall sideways consolidation.

I will post this disclaimer: in the long term Elliott Wave has so far only showed good predictability with 1 crypto: BTC. Every other crypto so far that had a perfect wave 1 rally has had a completely miserable Wave 2 which breaks (or eventually breaks) below Wave 1 and completely throws negates Elliott Wave. I think the inflation effects and predatory mining effects and pump-and-dump effects, and most importantly the lack of good fundamentals has been the root cause of every crypto's undoing though.
BlackCoin however has little to no inflation, good fundamentals (both in the transaction speed and in the multipool) and a large community backing it up (you and I).

Anyhow, IF we see BlackCoin starting up a large Wave 3 here soon expect the rally to be far larger than the Wave 1 we just saw (and Wave 1 more or less took us from 5k to 95k, or an 1800% return). A large Wave 3 could easily take us to 400k (a 1900% return) and potentially much higher due to the ridiculous strength and speed of Wave 1.
We'll see.
First donation request for opening up your technical analysis world here.
BA9XTjcB8v91gga8zbqpuabJTZDQAvtVHz

JL

Thanks for pointing that out. I edited my post, code named him too.
(but let's not tell anyone)

@IconicExpert : what i'dd like to know is;
- what are the Scrypt and Sha coins we mine in the blackcoinpool,
- what is daily income from above, and how many bc's are bought using that at what prices?
Let's see some accounting !?                                     (just curious, and what's wrong with openness?  

at the moment it reaches 35k, I sell.

I don't think this coin is still worth anything. The pump is passed and we won't see such a thing like that again on this coin.