BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
175 4 6
This time Price breaks trough this Ascending Triangle .

heavy Resistance in this area.
+3 Reply
The idea is interesting. And here is what is actually going on:

I can only repeat: I watch 1-minute Bitcoin charts since 9 months and never has Bitstamp be more irrelevant than in late March 2015 after the hot wallet hack and losing many traders and thereby losing liquidity. OKCoin is always leading the price trend. Always! Every time. Maybe because there is really a big hedge fund trading on OKCoin, like they claimed in November 2014:

"It’s a €3 billion market cap client. They just do hedge fund trading, and they’re going to be trading on our platform. That’s a pretty big institution.”"
+5 Reply
ChartArt ChartArt
You can type in "BTCCNY" and choose OKCoin to draw trend lines on 5 minute charts. After a few days of using BTCCNY price data you will notice that China always trades in a much much much more obvious clearer price structures than Bitstamp, which is compared to OKCoin prices pure noise.

Trading Bitcoin 5 minute charts with Bitstamp price data in Spring 2015 is like using DOW Industrial 5 minute chart data to trade the S&P 500 in 5 minute. Yes, there is a overall similar trend in both price feeds, but it is not the same. And leading is the S&P 500 (or SPY and Futures), not the DOWI. So with the goal to forecast the price it is smarter to use the leading price source, not something somewhat related, which was a good source in the past.
+3 Reply
Thumbs up for trying. But this is all a false breakout move.
+3 Reply
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