Bitcoin in a triangle, 1000 point move, with trading updates

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin is within a triangle now, ranges are getting smaller by the hour, it should choose a direction to where it wants to go within the next few hours. It think it will drop some more, towards the 9500, that we be an ideal entry point to go long again. For now i am still short from 10580. For more info, look up my previous charts with updates and analysis
Comment: And the breakout, here you can see again that TA works (most of the time wiith Bitcoin) because with certain patterns, you dont get the chance to get in, everyone sees the breakout and jumps in fast. That's why we see the big spikes so many times. It went through my stop but i have not turned long.
Comment: I saw some massive buying of contracts at Bitmex between the 10900 and 11000. Comparable with buying of 100 to 500 BTC, several times. With these extreme amounts, especially with the 500 amounts (short and long) i have seen the market move in its favour. Like the smart whales are loading up derivatives (not influencing the market immediately) and when all contracts are in, then pushing the market higher them selves. At least thats what i would do if i had those amounts of cash. Anyway, i am still flat, but if i would do something now, it would be going long probably. The reason why i did not turn long, i still think this market has to make a correction. This rise looks strong of course, but not stable!
Comment: I am going long now at 10.900, gonna try and ride the bull train again. It's not yet pushing higher. But i see a breakout of that big triangle, and it's hanging against the 11.000 now, wich means it's not getting sold immediately. That's the reason i waited, if it would go up directly i would probably had missed my chance, now i have more certainty. Simple stop just below the 10800, if it drop below that level, 10500/10600 should be a support
Comment: I will add immediately if Bitfinex (it's holding the other back slightly) goes above the 11.000. If it does, i will move my stop to around 10.900
Comment: I will close if it drops below the green area, to minimize the loss
Comment: I have closed half at 11200. Locking in profit and minimazing risk. Stop at 11.000 now
Comment: I am out at 11070. It's taking to long. If it gets above the 11.200 i will go long again. For now i am looking to (maybe) short it
Comment: I saw some spoofy action 5 minutes ago, i am going with my theory, and went long at 11140
Comment: Should i be right, i will explain later what i saw
Comment: What i saw (at Bitfinex) the 11150/11180 was getting sold immediately for a while, so it dropped several times to the 11130ish. Than after a few minutes a big buy order was set at 11180 buying all from 11150 and still had 300 BTC at 11180, there was no follow through and after a few minutes it got sold completely (i did not see if it wash trading. So it dropped again towards the low 11100. The reason why i jumped in was, spoofy (i see him as one of the biggest stakeholders of Bitcoin) just wanted to get sold in to, knowing it would drop a 50 to 100 points more. But very quickly i saw several big market orders around 11150/11170. Still no follow through, but i just knew this is all a setup, to load in BTC at this price and than push it even higher themselves. I dont know how much BTC they buy, if it's theter, if its leveraged buying, i dont know. But my gut just said, this manipulation will be on the upside. So far it has not moved up much, but i think we will see a spike up of 100 to 300 points very soon. If not, i will flush my theory in the toilet :) LOL
Comment: Within a minute i finished writing it was still 11200. and in 5 minutes i saw massive buy order, with may big orders between 10 and 50 BTC
Comment: I cracked the system guys :) LOL
Comment: Jumping out at 11380, thanks spoofy
Comment: Spoofy is only selling with a strategy, where it does not hurt the market. I have noticed, spoofy only unloads big amounts at the top of clear bullish patterns, where he can see buyers are jumpin into the market. That way he doesnt push the price down to much. I think he carefully just tries to pull market higher with a 1000 points before unloading again. His (the stakeholders) wealth increases because their massive amounts of bitcoins increases in value and on top of that they are (stealing) probably even earning money with this strategy. White collar thiefs if you ask me, but it seems nobody cares
Comment: I am just wondering if this move was spoofy or not. My guess is yes, the market was probably going up to fast and spoofy probably did not buy all the BTC he wanted below the 11200. And probably dumped a massive amount to scare the market a bit. It did work, because like i described earlier, the market was selling it really fast when it got close to the 11200.
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HA! Where do you think Spoofy is gonna let it go to before he dumps again?
botje11 CE_Albanese
@CE_Albanese, probably towards the target around 12K i think. But if to many people decide they want to sell their BTC, even spoofy cant stop it. We saw that the last 2 months ofcourse.
Market manipulation there... BTCUSDLONGS spiked ! and now again 350 BTC bought in 1 min... I'm hoping the crowd won't follow and this will be a Bull Trap
botje11 Amikoin
@Amikoin, I have not seen that, if that is what happened, that's a bearish signs for me. Seen that a few times before near short term highs. Like they trying to lure buyers in again to be able to unload at the higher prices before dropping again.
Amikoin botje11
@botje11, Hehe glad you saw the spoofy 350 BTC order! Got fooled, thought it was a bull trap but then market followed !
botje11 Amikoin
@Amikoin, This time i just knew what the plan was, with the bigger picture plan in mind
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