Ok...last thing I knew it did.

But count yourself lucky that it doesn't.

There is Bitmex, but it is huge margin and low volume.

Definitely not for novices. Steer well clear of!

Just Yellowman giving Whitey a good shafting once again. Nothing to worry about, keep buying up dem 'cheap coins'.

All seems vaguely familiar....

Big Chinese driven pump, followed by some 'bad news', and a subsequent death plunge of a market crash. Mr China been selling their BTC bought with CNY or mined in China on the USD exchanges on the way up, Whitey been panic selling on the way down, as Mr China switches the fake trade volume generator on the totally unregulated CNY exchanges, into reverse.....

....of course, this time around, USD exchange volume was conspicuously anaemic. Perhaps the Bitcoin game will soon be up. No serious western capital can risk playing in a market they know is owned and controlled by a small cabal operating in China, not to mention the Bitfinex scandal which basically proves to anyone with an ounce of sense in their heads, that Bitcoin exchanges are totally unsafe places to have wealth stored.

Stopped trading Bitcoin after both Finex and Kraken robbed my account.

This thread is essentially defunct as far as Bitcoin TA goes, but it is still used by some of my long time 'fans' as a means of taunting me.

Right now, Bitcoin is very very hard to trade, as the market is still deciding whether it has put in a bottom yet upon which to build from. My advice to you if you are margin trading 'just to see what happens', then stop immediately. Most traders lose money in the market same as most gamblers in the casino lose.

If you are going to trade BTC, then you have got to learn the rules of the game. You have got to learn what a trade setup looks like, you have to learn how to manage your risk, and above all else, you need discipline and a very thick skin. Even the most prolific traders that I know take absolute poundings from time to time and if you are the type that takes this sort of treatment from the market too much to heart, then believe me, trading is not for you! If a trader was looking at a long trade, here are some reasons that he may have to enter such a trade (plenty more reasons not to enter that trade btw, which are not shown on this chart), and how he may structure such a trade, operating strict profit and stop loss targets:



If you are going to margin trade, then Kraken is most certainly not the place to do it. I would recommend BTC 3 Month Futures on OKCoin. There, you can get up to *20 margin, with 0% fees on market maker orders (i.e. orders placed in the bid/ask walls). Previously, I would have balked at recommending a Chinese exchange, due to the fact that these guys can just turn around and say "Fuck You!", before taking your money with impunity, with there being absolutely nothing you can do about it. But since in 2016, both Kraken and Bitfinex done exactly that to thier customers, it seems that the Bitcoin margin trader may as well take the better trading conditions and chunkier trading volumes on the Chinese exchanges. With that said, only send across a small amount of BTC at a time, and don't ever bet more than you are wiling to lose on any one trade. Just like Finex and Kraken, OKCoin actively trade against their own customers, and thanks to *20 margin position liquidating runs are common place.

indeed,and finally, after all those months/years of being deep in red, you are the one making money.....

......until one day Bitcoin just goes 'Puff@, that is.

U want a fkn bet?

https://bitcointalk.org/index.php?topic=1559553.0

To save you reading the whole thread, the gist of it is as follows.......Kraken accounts, where the user has opted for the default security options, allows withdrawals to be made without even Email authentication. Even if the Kraken account holder opts to use Kraken's 2FA authentication for withdrawals, 2FA can still be turned off by anyone with the password to the account. Only those who opt for 2FA on every single log-in, accounts are 'safe'.

In the thread, are a handful of people (myself included), complaining about having their Kraken account's emptied. Kraken's response is to offer their 'sorries for your losses', and little else. Had Kraken simply had email verification for withdrawals, then none of the victims in this case would have been robbed, but even now, they still have not implemented this as far as I am aware. Furthermore, this is not the first incident of limited numbers of people being robbed on Kraken. A quick search through reddit and such will bring up many accounts of small scale thefts occurring on this exchange over the course of time, without there ever being any kind of media attention brought to Kraken's door.

I am not saying that it is the exchange owners themselves who are doing the thieving, but the exchanges definitely has rats, with backend access to passwords and such, and the ability to empty 'vulnerable' accounts, i.e. any account that does not require 2FA for simple login. What is highly dubious however, is despite the frequency of the thefts, Kraken do not change their system....as though the exchange is being operated by someone who is quite happy to leave this 'vulneability' open.

Bullish over the longer term, NOT over the short term.....if I were holding BTC from before or just after breakout (~$800), I would be looking to cash out on any move back up towards the $1000 area, with of course no guarantee that it will even get up that high again before the POC at 700 is retested. I actually know someone who rebought Bitcoin at $830, and who has held right up until now. My advice to him was to sell some at $960, which was the completion of an AB=CD Harmonic, and if he was going to hold onto any Bitcoin beyond this point on this same nosebleed parabolic move up, then ultimate sell point was up at $1080, which is also a AB=CD (green) on much higher timeframe and a 1.618 Fib Ext on the breakout from previous high:



......of course, Bitcoin went up to $1140, and during a telephone call with him, I congratulated him on not listening to me, and admitting that I had no fkn idea how high they were going to pump this piece of shit.......but just a few days later.....whack!

It isn't about being right, it is about getting paid. Even if he had cashed out fully at my first target of $960 (which is what I would have likely done), then he still woulda got paid, providing he could withstand temptation to FOMO buy as Bitcoin soared higher and higher.

Going forward from here, I see profit taking (and arse covering) whenever Bitcoin reapproaches recent key levels up above, followed by a deeper cut back into $600-$700 area, before consolidating in prep for next move up.

If what I say turns out to be 100% accurate, and bitcoin drops to $700 and eventually breaks out and pops up to $1500, then that is still only 100% move up (for the sharpest of traders that is) in what must be one of the highest risk markets, with the most crooked, incompetent, and untrustworthy exchanges of any commodity or stock, anywhere in the world. Returns to be had in Bitcoin now are just not worth all that.......my mate however, like many of you in here, thinks Bitcoin is going to take over the world. Anyone who thinks like that may as well kiss goodbye to their wealth right now.

To predict whether that was the end of the bull, and the the start of the bear, u need to look at a long term chart. This is a Gann Square applied to the Weekly Stamp chart:


The rules when applying a Gann, is to square the chart, by applying a 45° line, and aligning the chart aspect ratio, in order that the 45° line joins up the bottom and the top of the first clear upswing. In this case, Nov 2011 @ $2 to April 2013 @ $240. The first arc is then placed at a tangent to the top of the first swing up, and what remains provides a pretty reliable roadmap of what is to come, providing the chartist applies the rules correctly.

The 45° line, represents 'reasonable' growth in a long term bull market. As can be seen, Bitcoin has spent some time north of 'reasonable growth', but almost all of the past 2.5 years beneath this 45° growth line. It is only the last week, that Bitcoin breached this line, but was then slapped back by the turquoise arc. This is totally normal and indeed expected behaviour. These Arcs represent barriers to price growth and usually, price will meet resistance around these arcs and be repelled back in the opposite direction. This can be seen back in June 2016, where the halving pump topped out at $780, was repelled back for another attempt on the arc, which failed, with spot passing through on the 3rd attempt. In situations where spot passes right through the arc with little or no resistance, it can be expected that price will come back down to retest that arc as support. This can be seen in the Nov 2015 pump, followed by the crash back to $300 (test of other side of arc), and most spectacularly in Oct/Nov 2013, when spot blasted through not just one, but two Gann arcs (orange and yellow), only being repelled at the third (green), and as we know, spot came right back down to test both the yellow, and the orange arc.

In summation, depending on the timeframe of your outlook, the bull market cannot be said to have yet reversed. Most likely, Bitcoin rallies from here, fails at next attempt on the arc, and then goes back down to 600-700 region, before being pumped right through the arc, with it's next stop being the dark blue way up at around $1500.

Bitcoin is ramped on CNY exchanges, with volume that is likely 95% fake, if not more.

Large quantities are then dumped on USD exchanges, which is what the Chinese Bitcoin Cowboys are really interested in...i.e. wealth out of the country, wash rinse repeat.

....except Western investment interest in Bitcoin is getting increasingly thin (just look at the cross exchange volumes), which means the Chinese Bitcoin Cowboys can offload increasingly less Bitcoin into USD with each manufactured pump n dump, but then there is only half the volume of Bitcoin being created now as there was before July 2016.

There is nothing that can be done about it, unless somewhere in the world, can offer miners even cheaper energy than is offered to miners in China. If that were the case then I suppose if a Western based cabal had the motivation to do so, then they could open up shop in this ultra cheap energy economy, and do exactly what the Chinese done. Namely, intentionally crash Bitcoin and keep it suppressed for long enough, to force miners with too expensive energy bills, to shut up shop, and then when all those guys are out the game, allow/force the market to rise again.

But even in the unlikely event that some western venture capitalist cabal had the means and the motivation to give the Chinese a taste of their own medicine, Bitcoin would still have the problem of being controlled by a very small interest group.

I have held gold and silver for almost that long.....

......but then that is real wealth, that can't just be turned off and rendered worthless by some totalitarian government on the other side of the world.....


Regardless of any pending ramps in Bitcoin, it will all end in tears. Mark my words.

naw, no thanks.

lol

U are all totally fucking deluded.

What both the pump, and the plunge is about.....


.....is shady Chinese bastards making a fucking killing in a market they got stitched up for themselves quite some time ago.

Kraken are corrupt to the core....they just do a much better job with their PR than all the rest.

Everyone goes around saying 'Kraken is best most trustworthy exchange, blah blah blah', but all the while they are getting up to every trick in the book, and routinely dip into their own customers accounts, blame the customer for having their computers hacked, and tell them to go whistle for their BTC/USD.


I am in touch with a big bunch of people who have been burned on Kraken and I can tell you, so long as Kraken keep the amounts they rob low, and the volumes of people who get robbed at any one time low, (one of the guys who got burned $35K said a lawyer firm he contacted weren't interest in this sort of case for any amount less than $500K) then they can effectively laugh at any threats of legal action of fraud reports to the police.

Just look at USD exchange volume. There is no interest in Bitcoin compared with before.

After the massive Bitfinex scam, managers of serious capital, even capital set aside for high risk ventures, realise that they cannot take the risk of trading Bitcoin, when the exchanges can rob their customers with apparent impunity. The profit margins available in Bitcoin these days just don't warrant the huge systemic risks involved.

Both AMD and NVidia for example have outperformed Bitcoin in the past year. The gains to be had in Bitcoin just aren't that special anymore to serious high risk traders. This pump is entirely to do with China, the land of fake iphones, fake cars, fake food, and no doubt, fake Bitcoin volume.

The textbook brutal correction is in. Over 20% wiped from the Chinese exchanges within 1 hour.

Burning question now, is whether 'they' power Bitcoin up for one final nosebleed rocket up, or whether she puts in a double top here.

Interesting to watch.

Usually with a Bitcoin pump, before the top beings to form, there is a brutal crash followed by a quick recovery. Can't say I have seen anything close to that yet......I reckon $1300 is incoming:

yeah, but just look at the trading volumes on Finex since the shenanigans and the 'bail ins' there.

Where has it gone?

You think I am alone in representing an example of a person who is 100% through with Bitcoin, for good? Must be tens of thousands of people who have moved their balls of capital out of the Bitcoin sphere once and for all, hence the anaemic cross exchange USD volume. This pump has more to do with China than ever before, and for all we know, 90% of it could just be a computer algorithm churning out numbers.

On the grander scheme of things, gold is real wealth, and always will be so long as humanity continues to exist in the physical 3 dimensional world in which it has always existed. Gold will still be a highly valued commodity and representation of wealth long after Bitcoin has become a digital museum piece. That is the crucial difference.

If traders can't trust the exchanges, then they can't trust the market.

Where is Bitcoin being pumped up right now?

On the exchanges!

On the Chinese exchanges that is!

USD vol is looking deliriously thin.

You all think you can trust a bunch of Chinese financial cowboys operating beyond the reach of any moral code or written law?


When Bitcoin finally evaporates into dust, taking everyone's notional wealth (denominated in USD of course), I will not be the least bit surprised.



I touted Bitcoin to go to $1500 back in September m8. The call is posted near the same place as I stated that I wouldn't be touching Bitcoin ever again.

Sure, Bitcoin is looking like it will go to $1500. But it is as likely to go to $5000, as it is to implode on the following day.......chinese Bitcoin Cowboy shenanigans aside, all it takes to murder Bitcoin is a word from the PBOC. Meanwhile, there are loads of stocks from established corporations that are performing way better than Bitcoin this past year. If someone is gonna invest, why take the huge systemic risks involved with Bitcoin? It just doesn't make any sense.