As expected from my previous warning and TV chart, we broke past the first triangle signaling a short/sell entry then we blew past the 270 support area too. I am expecting the whale to rebuy lower at initially 25x-257 area and then few quick wicks down to 244-238 area as a test of the current uptrend. This was too be expected after the longs were at all time high...
Following up on my previous chart published a week ago, my second forecasted scenario happened - "the whale who triggered this ponzi pump was in fact selling his BTC stash at 31x, 30x and 29x accumulated at much lower levels (215-230) in the past few months". In the past chart that I published we broke the small handle (of the cup-and-handle and we went down to...
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...
Annotations are on the chart. I used TIMWEST's Timenode method mixed with my ideas to build how Bitcoin will rally in a "healthy" manner to $300 initially then 360-400 later on. Since my last chart I have been accurate enough, will see how this plays-out. As I explained to some in our IRC channel, it seems market makers are not looking to make BTC go parabolic as...
Original document here: www.armadamarkets.com