BitcoinGuru
Long

Bitcoin Closing the Gap at the Old Vintage Point of 300-315

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
The ponzi pump started on LTC initially by a whale operating on all the exchanges out there also took BTC forward with it interestingly pumping on the rumor of the Grexit as well as other news such as the LTC Halving at the end of August. The whale's manipulation can be seen at work with bids and asks put in advance to monopolize the Bitfinex orderbook and protect the coins it accumulated at much lower levels.

The pump stopped at 316 on finex (previous resistance level ) as expected as the Greece stayed as part of the EU by accepting the Bailout. We sold the news and headed down to 270-275 area where the intention of the bull whale was to continue what it already started. Right now its intentions are still not fully clear, that's why I outlined every possible scenarios in the chart above.

Although I still believe that the whale operating on all exchanges is slowing selling its stash of Bitcoin at 290-315 area, I could still be wrong and we could still see a rally to 360-380 target estimated on August 25 2015 which corresponds with the LTC Halving day (sell the news event!) if the Cup and Handle Completes and the market remains above 300 after its completion.

Otherwise, this market maker will take the market down with him after trapping everyone at 290-31x (fake out) area to rebuy at much lower price around several key uptrend channel areas seen in my chart initially as the blue dotted lines:

279-275
250-255
238-243

Even if those levels are reached, the uptrend and bullish market still remains INTACT as long as we remain above the bottom blue dotted line (238-243) area.

I also see that we are potentially having a round bottom within ANOTHER bigger round bottom, that's right! It is like a Bitcoinception - refer to this chart of mine:

As always use caution when trading BTC and be smart about your entries.

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News Article Reference:
Was Litecoin Pumped by a Chinese Ponzi Scheme? July 11 2015
http://www.dailytradingprofits.com/4669/...
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another successful forecast - will publish a new chart soon if i have time to re-evaluate the scenarios here.

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were exiting the Cup and Handle. Not good also 4H and 1D looking bearish now - Sell

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Nice possibilities analysis BTW. Did you personally enter the market these days?
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BitcoinGuru oleg.golubovich
I have been out since the last pump at 305, i havent had time to trade back after it bottomed at 27x. im still looking for a safe entry.
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Do you have any official links to prove LTC has been doing by a ponzi scheme?
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BitcoinGuru oleg.golubovich
https://blog.bitmex.com/chinese-promoter-pumping-litecoin-via-ponzi-scheme/
http://www.dailytradingprofits.com/4669/was-litecoin-pumped-by-a-chinese-ponzi-scheme/

Some twitter famous pumpers .e.g Fontas (his on TV and he posted a chart before pumping LTC), Benji and some others cant give more detailed names in here sorry
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oleg.golubovich BitcoinGuru
Cryptonews linking cryptonews linking cryptonews and all the scary stories about Chinese government involved just die out. News and rumors are just following the market and make white noise for traders )
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