BTCCNY: News key level update

BTCCHINA:BTCCNY   Bitcoin / Chinese Yuan
We have a new key level, courtesy of Bitmain's CEO             , who decided to tweet about his support and potential funding of Bitcoin             Unlimited, an alternative to Bitcoin             Core development, which could cause a situation where there are multiple Bitcoin             block chains, dividing the community. Naturally, this scared some bulls off, and we had a selloff, but I think it's just manipulation, like most news from China turn out to be. Probably colluded with some other groups, like OkCoin, or other exchanges (like BitFinex), they caused margin traders positions to be liquidated, due to the amplitude of the move during low liquidity periods.

I'm long, as depicted in my BTC             publications, and used this chance to add to my position, increasing it from 30% to 80% account. I'll trim once we have a sizeable rally, and hold only my core 30% position until we hit my long term targets.

Good luck,

Ivan Labrie.
Comment: Moving up as expected, let's see how it reacts to the new key level here.
Comment: $BTCCNY broke the recent news key level

If we close above it, that's a good start. Holding 80% account long for now.
Comment: Proving difficult to break above the Bitmain CEO resistance (what a prick...) :p

We'll have to wait for now.
Comment: http://www.zerohedge.com/news/2016-11-21/largest-us-bitcoin-exchange-extremely-concerned-irs-crackdown-targeting-its-users

Some risk ahead, but I wouldn't worry too much for now.

Sellers are now trapped here.
Trade closed manually: I was trailed out of my 50% long position and now closed 15% more so I only hold 15% account long.
Comment: I bought a 15% account long at 5200 here.

BTC's daily RgMov is now in an uptrend here.

I'm buying back 15% here against this level
Comment: 6555.29 should be hit very soon. If we break that, and see 6770.19 during December, we can go WAY higher over time.
Yes. Looking forward to getting my money back and putting some into your fund again. :-)
+1 Reply
IvanLabrie rivet.popper
@rivet.popper, I'm playing with a program to trade BTC in multiple accounts, but it's not ideal yet. I started a new service using collective2.com now, I might add one for BTC trading once this program is working well, to trade at kraken.
Either that, or the Winklevoss twins finally get a liquid Bitcoin ETF out and we can trade BTC using stock brokers.
I've moved my trading to different platforms, but still keep my old FX account for now.
rivet.popper IvanLabrie
@IvanLabrie, You've got my interest. All I need now is the cash. I will certainly call on you when we've mooned Chandler Guo style, something I do expect someday but the apocalypse I need for this has not quite arrived just yet...
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IvanLabrie rivet.popper
@rivet.popper, Holding 15% and adding more on dips, and selling on rallies is a good strategy, you can follow what I post here.
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It could be this

"SegWit support now already at >25% for the last 144 blocks", so ViaBTC and BU camp can't lock SegWit from getting activated.


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IvanLabrie AhmedAlif8
@AhmedAlif8, good team work Ahmed.
I'm closing 65% and keeping my core long term 15% amount long here.
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Well said Ivan. Unfortunately we have the Segwit camp V Bitcoin Unlimited, both of whom are pushing for their agenda. I'm based in China. I'm sad to say that market manipulation is (Wink Wink) is standard operating procedure in China.
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IvanLabrie Crypto.888
@Crypto.888, yes, it sure is. China is probably holding back the adoption of BTC, due to the way they create volatility. But, despite this manipulation, volatility has largely quieted down since 2013...meaning there's a lot more acceptance of BTC as more than a medium for speculation.
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