Deal with your problems by becoming rich with r0ach of Bitcoin

[r0ach]

Last trades:

Selling:



Rebuying the dip:



This might have been a good long to hold but I just let it go for the scalp because I've been up like 48 hours and can't be assed dealing with babysitting a bunch of longs.  There's a perfect cup and handle setup, so if you've actually slept in the last week, it might be a good entry with a stop loss around here if you want to roll the dice on getting near term Brexit chaos gains:



Trading music sponsored by Metallica (TM)

https://www.youtube.com/watch?v=NUAdgt5Glk0

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[r0ach]

Current state of Bitcoin market June 26, 2016:

01[19:03] <r0ach> when it broke below $600 the other day, it was due to MASSIVE amounts of shorts
01[19:03] <r0ach> and not real bitcoin sells
01[19:03] <r0ach> so it was entirely bullshit bear raid
[19:03] <cesurasean> how do you predict the dips anyways? reading materials about news, etc, gather info?
01[19:05] <r0ach> this:  https://www.youtube.com/watch?v=4y6qD_2SQrs
[19:07] <cesurasean> hehe
[19:30] <wsmsg> r0ach: still bull?
01[19:34] <r0ach> market is controlled entirely by 1 single entity on finex right now, he can send price anywhere in short term, so I trade entirely off what he does.  For halving still bullish yes
[19:36] <wsmsg> whats his position now?
01[19:38] <r0ach> he's testing the market low right now.  He is the one who pushed it to $550 last time, but he did so with shorts and not actual coin sells, so it entirely depends on if this guy does some stupid move and tries to crater the market while also taking a loss on shorts he has to cover (but can't)
01[19:38] <r0ach> it doesn't look like he's going ballistic with shorts this time tho
01[19:39] <r0ach> at least not the extent as before
[19:39] <wsmsg> lets hope the uptrend continues thanks for your insight
[19:41] <fluter> is it possible to identify this person and know who he is?
01[19:41] <r0ach> if BitFinex gives him up...sure
[19:41] <Squidicuz> ...
[19:42] <wsmsg> id imagine youd have to have quite deep pockets to move the market
01[19:42] <r0ach> he's got a lot
[19:42] <fluter> This is how difficult with bitcoin, when in stock exchange, they have to publish the biggest traders everyday
01[19:42] <r0ach> enough where nobody tried to fight him yet at least
[19:42] <berndj> how do you know it's the same one, r0ach ?
01[19:42] <r0ach> because when you trade bitcoin every day it's easy as shit to notice
01[19:43] <r0ach> just like it's easy as shit to notice Eth is controlled by one guy on Poloniex
01[19:43] <r0ach> so the 2 biggest crypto markets are completely non-aggregate markets
[19:44] <fluter> I wish I have you knowledge, r0ach
[19:44] <fluter> your
01[19:44] <r0ach> also, the last guy this pushed the market down on purpose, he shorted all the way to the bottom, kept shorting at the bottom at a loss, then like 1 nanosecond after his last short, instantly begins to cover
01[19:45] <r0ach> with a big spike
01[19:45] <r0ach> the guy who is doing it is probably reading this right now pissed I'm telling people heh
[19:46] <RainMan28> but r0ach how can you honestly know its just one single person and not a bunch of different people acting in a similar fashion?
01[19:46] <r0ach> because he doesn't obfuscate his activity
01[19:47] <r0ach> he's by far the biggest volume in the market, so he would have a hard time doing so anyway
01[19:48] <r0ach> he's also been forcing china to follow him
01[19:48] <r0ach> instead of vice versa
01[19:48] <r0ach> which was new to me
01[19:49] <r0ach> there was another mega whale that stepped in that attempted to take the reigns from China and pump higher when china didn't want to that got us to $790
01[19:50] <r0ach> not sure if it was the same guy or not
01[19:50] <r0ach> but that was the first time I saw China not being the leader of this market
[19:51] <fluter> r0ach: it might be a china trader trading outside of china?
01[19:53] <r0ach> china whales are usually easy for me to spot because they operate in binary modes:  1)  altruistic type WE MUST GO HIGHER mode and then 2)  Can't rise any higher, time to screw everyone with mega dump and shorts then leave the market till it cools
01[19:53] <r0ach> but the chinese never try to actually do long term damage to charts with mega lows and shit like that
01[19:53] <r0ach> but this Finex trader DOES
[19:54] <fluter> oh
01[19:54] <r0ach> I actually suspected it was Finex the exchange themselves naked shorting
01[19:55] <r0ach> because the guy has too much fucking money
01[19:55] <r0ach> which is why we should probably demand finex make a statement on this guy
01[19:55] <r0ach> when you have a completely non-aggregate bullshit market
01[19:57] <r0ach> the amount of margin right now is high, so they are also trying to scare out margin traders
01[19:59] <r0ach> yesterday the guy padded the buy side and got people to buy his shorts then dumped the market
01[19:59] <r0ach> so that's where we are now
01[20:00] <r0ach> price has 0 to do with fundamentals right now
01[20:00] <r0ach> just 1 guy

[MatTheCat]

Current state of Bitcoin market June 26, 2016:

Interesting theory.

Certainly been a lot of shenaningans on Finex recently.....traders getting locked out at key moments, etc...

I am currently in a short at the moment, despite the already hefty drop (just going where my trade setup tells me to go). I have no idea if I am gonna get stopped, or my target is gonna get hit.....but I do have the feeling that at some point, this p.o.s is going to get pushed lower than the $555.

[Bavaria]

IMO BTC is consolidating at this $600-650 price range. It`s getting ready for the next important leg up.

[Dafar]

[19:44] <fluter> I wish I have you knowledge, r0ach

Lol no one would ever say that, I call complete bullshit

[r0ach]

[19:44] <fluter> I wish I have you knowledge, r0ach

Lol no one would ever say that, I call complete bullshit

Maybe it was MatTheCat:

I have multiple accounts, in different names

[r0ach]

Current chart for me.

[MatTheCat]

Current chart for me.

You seem to chart with only bitcoinwisdom r0ach....

.....tell me, how do you make such strings of killer trades, in at the bottom, and covering at the top, using such a basic, not to mention totally inaccurate, charting tool?

[Hueristic]

I speculate that the sideways will continue and taper off (which is in line with my earlier prediction when I divested).

We shall see.

[r0ach]

I speculate that the sideways will continue and taper off (which is in line with my earlier prediction when I divested).

We shall see.

Well, it's back to sideways again.  I knew this thing had to level off here.  I think exchange owners just naked short the fuck out of it to try and create churn for raking shekels into their pockets if the market actually does turn sideways.

[r0ach]

Enjoy:

[damnek]

That drop today seemed weird. I wouldn't be surprised if exchange owners buy/sell based on information about incoming bank wires.  Also, a bunch of whiny traders were piling on because 700 got "rejected".

[r0ach]

You seem to chart with only bitcoinwisdom r0ach....

.....tell me, how do you make such strings of killer trades, in at the bottom, and covering at the top, using such a basic, not to mention totally inaccurate, charting tool?

Not being MatTheCat is all it really takes.

If that doesn't work, you can try watching this video:

https://www.youtube.com/watch?v=0akBdQa55b4

[r0ach]

For anyone trying to understand the current world economy, I think this is about as good of a post as you can get:

Here is my explanation for trading the current world economy and why I do not follow anything Armstrong says, because he would have to be an insider trader knowing when and what the govt will do beforehand like Soros for what he says to have any value.  If the government took no action, there would be a black swan event and the system would just all go down out of the blue one day.  His data is useless against black swans, and his data is also useless unless he can predict when and if governments will act.  It's a centrally run system, not an aggregate market by "capital flows".

<r0ach> if they don't create inflation, the system collapses.  If they manage to do so, it would require helicopter money, basic income, or confiscating gold again and paying everyone who owns gold higher than market rate.
<r0ach> only problem is, only people who own gold is central banks and ETFs, so that plan can't work because the money wouldn't circulate
<r0ach> when your choice is collapse from deflation in 1 year time span for instance, or central banker intervention to collapse in 2 years from hyperinflation, they will always stretch out the collapse
<r0ach> using the tool of inflation
<r0ach> this is how they screw you though, with no central banker intervention in their rigged market, you get deflation and the price of everything collapses:  houses, the value of gold, food, everything.  So the central bankers sometimes insider trade the market and let the deflation happen, buy everything for pennies, then initiate inflation after.
<r0ach> so it's all about guessing if they let deflation occur first or just go straight from here to wheelbarrow hyperinflation


<belcher> what if theres no deflation r0ach ?
<belcher> i.e. the world economy does ok

<r0ach> china is exporting deflation to the US currently
<r0ach> and deflation collapses the system
<r0ach> so central bankers are forced to act
<belcher> what if china stops doing that?
<r0ach> it's only a question of, do they let the deflation happen first and buy everything for pennies, or act to stop china
<r0ach> china can't
<r0ach> they have to keep devaluing to inflate away bad debts
<r0ach> to prevent systematic collapse
<r0ach> and of course, the US has to do the same thing
<r0ach> so it's a currency war
<r0ach> like I said, in a currency war of devaluation, both Bitcoin and metals would win in the end, but it seems like they do it by each nation taking turns to devalue one after another.  So first China devalues and creates deflation here, then the US does it and it goes back to normal, then EU, and they keep doing rounds in a circle
<r0ach> and then maybe you have rogue nations that don't follow the script and just devalue to hell and back out of turn
<r0ach> it's unknown by most people if China + US + EU are following a script or not
<r0ach> if a larger nation breaks from an orderly script, that's when the fireworks start and you get super deflation or wheelbarrow hyperinflation
<r0ach> it's totally unpredictable

[r0ach]

I believe China is going to let this go sideways at $640-650 plus or minus $10 for a few weeks in order to fatigue the margin longs with interest rates to make them close and then raise it afterwards.  At least that's what I would do if I was China cartel.  Maybe they'll raise it to $666 again for shits and giggles.  There are a lot of shorts right now, so it's not out of the realm of possibility for China to try and squeeze them either.  I feel the odds mostly point to a semi-boring market for a while before it does anything.

[MatTheCat]

That drop today seemed weird. I wouldn't be surprised if exchange owners buy/sell based on information about incoming bank wires.  Also, a bunch of whiny traders were piling on because 700 got "rejected".

yep....no doubt....shit ton of USD being wired to exchange accounts and exchange insiders start buying.......shit ton of BTC being transferred to exchange wallets, and they will start selling.

I believe China is going to let this go sideways at $640-650 plus or minus $10 for a few weeks in order to fatigue the margin longs with interest rates to make them close and then raise it afterwards.  At least that's what I would do if I was China cartel.  Maybe they'll raise it to $666 again for shits and giggles.  There are a lot of shorts right now, so it's not out of the realm of possibility for China to try and squeeze them either.  I feel the odds mostly point to a semi-boring market for a while before it does anything.

What is this?

r0ach doesn't think that Bitcoin is about to rocket into the stratosphere? He thinks BTC is just gonna kind of do nothing?

That my friends, is as raging a bear signal as I could possibly imagine....


The very high level of shorts on BFX (longs are still comparatively way higher though), however, does pique my interest. I suspect that with the timing of these shorts, these shorts are being held by strong Hands. Probably mostly by miners who are hedging their bets and who are happy to lock in $600-$700 range prices for their future BTC. If BTC goes up, they don't give a shit, if BTC goes down, then they are covered.....still if the market where to force all those shorts to cover and/or be liquidated, that would provide a huge boost to the BTC price...but then again, same thing could be said in the opposite direction for the still extremely high level of margin longs....perhaps the smart money shorts are piling up, just waiting for the long squeeze in order to cover their positions?


Very hard to read, but from past behaviour, margin longs, obviously, tend to hit their max as spot tops out, then margin shorts pile up, whilst margin longs start to pull back, as spot starts to decline, with peak, or near peak margin shorts, occurring invariably near the bottom of the move......I don't think we are anywhere near the bottom of the move however....we only just getting going.

[r0ach]

What is this?

r0ach doesn't think that Bitcoin is about to rocket into the stratosphere? He thinks BTC is just gonna kind of do nothing?

That my friends, is as raging a bear signal as I could possibly imagine....

It's the opposite.  Whenever Bitcoin goes sideways for a while and shows any sign of stability, it usually always spikes high right after.  Going sideways at a stable price for a week or two is the ultimate bull single.  The Chinese accomplish two goals at the same time by holding it sideways here, inspiring confidence in the market as a platform for the next big upshoot, and bleeding out longs until that upshoot occurs.  The best game theory motive is likely to pump it just a little higher to squeeze the shorts and put confidence in the market, then just hold it sideways there for a duration of time to also cause fatigue on the longs to capitulate, then you're screwing both margin parties at once to keep the price propped up until you're ready to skyrocket again.

[tabnloz]

<r0ach> if they don't create inflation, the system collapses.  If they manage to do so, it would require helicopter money, basic income, or confiscating gold again and paying everyone who owns gold higher than market rate.
<r0ach> only problem is, only people who own gold is central banks and ETFs, so that plan can't work because the money wouldn't circulate

Easy way to create inflation is just to reprice gold overnight at some massively increased rate. Don't need to confiscate it, just say it is now worth $7000 an ounce. All of a sudden, you will have your inflation as all things are repriced. The US acts as broker / dealer & buys / sells to keep stability.

Problem is that gold is sort of out of favor (tellingly though, the central banks are mostly still buying. Except for Canada). But if not all parties have gold it be very disruptive to the financial system and the paper gold market would be very problematic.

[MatTheCat]

Easy way to create inflation is just to reprice gold overnight at some massively increased rate. Don't need to confiscate it, just say it is now worth $7000 an ounce. All of a sudden, you will have your inflation as all things are repriced. The US acts as broker / dealer & buys / sells to keep stability.

Problem is that gold is sort of out of favor (tellingly though, the central banks are mostly still buying. Except for Canada). But if not all parties have gold it be very disruptive to the financial system and the paper gold market would be very problematic.

....and why would 'they' opt to reprice gold overnight?

Would simply repricing gold, repudiate all the debt obligations of the US government or something?

Am I missing something here?

[r0ach]

....and why would 'they' opt to reprice gold overnight?

Would simply repricing gold, repudiate all the debt obligations of the US government or something?

Am I missing something here?

Well, when you enter deflation it's because of two things, lack of liquidity and unserviceable debt.  Repricing gold would theoretically lower the debt obligation while also having a sort of helicopter money type of effect to raise the currently low money velocity.