Hi Folks
Any news related to the 1'000 price jump of bitcoin. It seems to come out of no where.
Is it just a big one playing with the market?
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It was likely wave 3 after this abcde triangle in wave 2. I will make a post about that later.
Maybe a big buyer liked this news:
https://www.coindesk.com/santander-launching-blockchain-payment-app-this-week/
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Healthy Move During The Neutral Trend Usually Lead To Bullish Trend.
It is so easy for every one to get a course between 3 weeks and 3 months to can read a chart to see that we have a lower highs and a lower lows and based on what he see the trend is down, the problem is we do not saw what he see! We saw the trend is neutral ( with possible up move ) as long as the price move between 6.49K and 7.66K.
I agree with everyone the price from here can go up or down but as trader we need a direction, because we can not lose our time just reading a charts, because after a clear break of 6.49K or 7.66K will be so late to get action.
Here is why I did believe the up move on 12 April is more likely?
Days of consolidation usually are considered healthy during the neutral trend so most likely will move to the upside due to:
Fundamental conditions
Technical conditions
The reason why I did believe the price will Break up (lower change) the triangle at around 7K and this could lead to a bullish move to next resistance area at 7.66K, and afterwards the important resistance level at 7.88K where MA-200 lies.
And this exactly what happened today.
Thanks as always for hard work and great support..
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This explains it best. No one knows who or why the extra liaison, but it looks like someone got in to work early on the east coast, with a mission to take out the shorts.
A individual, a group of individuals or perhaps Soros, decided to liquidate all the short positions that were constantly working against the market and BTC. They put in buy orders up the arse and here we are.
The reason why I think it was someone on the east coast, is that it happened early enough that they would be able to monitor the effect all through the day.
If in 24 hours, we are holding tight, then I am ready to say we are seeing the beginning of a bull market once again.
Here is the chart of the shorts getting absolutely obliterated!!
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I believe in btc. In the past year it was lead the world and i believe that in this year btc leads again. It just a matter of time.
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I just bought 400 million btc thats why. No big deal !
Steem broke the 2$ resistance and now the second resistance is at 2.35$
GOOD TIMES !
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Haha, Yeah Sometimes I find lose change down the back of the sofa or in a coat pocket too
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Male - female bottom formation: First the peak (male) at 5900 and second the rounding bottom (female) at 6400.
Good one .. I love it..
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US taxes period is nearly over and there is less sale pressure?
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Good Reply..
This is one of the reason..
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I'm going to speculate that it's because today is the last trading day in the US equity markets before the biggest companies start reporting Q1 earnings. This is important because the market is forecasting that we'll be seeing the highest year over year growth in earnings in 11 years due to recent tax reform. I think this will absolutely be a case of the market buying the hype and selling the news because it's unsustainable and there's very little bull case left in the foreseeable future whereas the bear cases are piling up (ie. Exploding debt growth, rising inflation and rates). Therefore i think a significant amount of smart money is hopping into crypto as a safe haven to hold onto wealth during these uncertain times.
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Well there we go - JPM beats on revenue and earnings, stock down almost 3% as of writing this, dragging the market lower
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I think it's manipulation. There are "coin conferences" going on everywhere. This gives people opportunity to talk and meet each other in person. If you get enough people together with the $$ it's possible to plan for a $1000 swing in less than 8 hours.
The EOS surge is due to some airdrop on the 15th. By Weds it should be down where it was. That's what I think.
I think TA is good and I spend time watching good ones. The social and unregulated element in this- is the piece that shakes it all up.
OR what if there's someone or some company going all in soon. Then you've got the insiders or rumors because they all want to get in before that happens.
I think along with TA - the rumors, events and whatever else I start to hear from more than one person on more than one platform, I spend time digging there.
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Shortly before the jump there was a huge purchase of bitcoin via a private exchange. I can only speculate but I think one of these players has begun making moves.
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I believe it is bitcoin shorts covering their positions. Typical short squeeze.
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Bitraged perfectly summed it up why this happened actually. I'm convinced that this is a market manipulation by Bitfinex and Tether.
TL;DW:
• Tether moves $40 Mn on 11th April
• Market sees spike worth about $40 Mn on 12th April
• Spike happens on Bitfinex.
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dont think i desrve bounty but made a post with some possible reasons (biggest one - short squeeze)
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An investor friend showed me that a few minutes ago.
https://news.bitcoin.com/research-paper-declares-bitcoin-compliant-with-shariah-law/
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It is International Day of Human Space Flight today. Humanity fulfilled one of its longest dream 57 years ago. Bitcoin wants to celebrate and fly into space as well.
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Hi. Thanks for so much for your sharing.
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Great question, I was just to post this myself and try your new initiative steem-bounty again. You beat me to it ;-)
Any technical analysis based answer doesn't do it for me (in this instance) and in this case would be non-sense. I am looking for explanations to do with whales, big investment funds etc. :-P
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Bull trap. Be careful!!! Look at the volume. This is fake pump up.
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Do Not let anyone convince you this is going back to all time highs here. This is the bounce. This is not how bottoms are made and is going to take time to shape out. I am expecting this move to be upwards of 30% though before the ultimate failure.
https://steemit.com/bitcoin/@heyimsnuffles/rebtc-chart-about-to-see-rip-city-here-as-called-in-the-linksteemitapp-ios
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Because Bitcoin was too cheap.
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Shorts were at an all time high and got squeezed.
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seemed the seller pressure was dying off, I dont buy the tax thing at all. prob news of big names like soros and rockefeller entering the crypto space. also apparently the number of shorts were extremely high, some suspecting if a pump happened all those shorts would have to close their positions and get in to not miss the pump. but honestly who knows, could just be another bounce before another leg down.
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Fake pump or not, this could the spark of a bull run!
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I would speculate that number of shorts went hyperbolically up last week and all was needed was nice jump over 7-7,3k$(where most stop losses probably started) and after that it was domino effect of FOMO and shorts hitting stop loses or liquidating.
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A bounty of 10.000 STEEM has been set on this post by @famunger! You can read how they work here.
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Read this and thought about an article I read this morning answering your questions.
here: https://www.fool.com/investing/2018/04/12/heres-why-bitcoin-is-up-11-today.aspx
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UK tax paid April 5th could be part of reason, whale with huge amount of capital could buy more bitcoin. Fear of USA,UK, France war with Syria could see wealthy people buying bitcoin to protect themselves against fiat collapsing.
George Soros stated recently he would be buying bitcoin, another reason maybe newcomers to crypto heard George Soros news and had more confidence in buying bitcoin.
Chinese and Russian and USA Govts etc buying bitcoin to not miss out on the boom ahead.
Follow me on Steemit for crypto news
Nick
Certified Bitcoin Professional
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some rumor Soros, Rockefeller and Rothschild are in
https://steemit.com/deutsch/@eisenbart/kaufen-soros-rockefeller-und-rothschild-kryptos#comments
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