Softbank: Trading at top of megaphone patternSoftbank has come under increasing scrutiny for its eye-popping investments and corporate governance practices. Investing almost a billion into a company embroiled in a massive accounting fraud scandal (Wirecard) is not what I would characterize as best use of shareholders' capital.
Starting from the 2009 trough, the stock has completed 5-waves up with the price action over the last 5 years culminating in a bearish megaphone pattern.
Fraud
FB Breakout appears to be fake.FB had a huge spike after earnings . However, when one looks at the chart, this spike and the optimism seem unwarranted.
FB is still well below its long-term trend that has been in play for years. The trend was irreparably damaged in October, and the probability that FB sees a new high in the short term seems almost impossible (what will drive it?) The chart currently is so absurd that it's impossible to predict. It created a huge gap that will be filled shortly. And it seems to desperately try to remain in its previous trend, but has moved too far down, too quickly, to re-enter it.
It is also very suspicious that the reports of up to half of FB users being fake was completely ignored by the market. And it seems that FB's own estimates of fake accounts varies wildly year-to-year and is now estimated at over 100 million. www.nytimes.com
When a company reports the revenue per user, and then estimates that the number of fake accounts is over 100 million, serious questions need to be asked which currently are being ignored.
My guess is that FB knows that it's popularity is decreasing, and they faked the numbers and growth to try to buy some time (maybe through Instagram or VR or something else).
I would be very cautious here.
COINBASE/KRAKEN-FRAUD-INVESTORS RALLYThis post is for the exchanges who labeled BCHABC as BCH...
I'm creating this idea to rally investors so that their voices are heard in regards to Coinbase's and Kraken's premature decision to label BCHABC as BCH which have caused losses to investors.
Exchanges have absolutely no excuse for labeling BCHABC as BCH. They have been in the crypto community for awhile and should understand how blockchains operate.
They knew BCHABC did not decisively win miners hash.
They knew the hash war would not be 'won' in hours or days.
They knew labeling BCHABC as BCH was not in the best interest of investors.
Coinbase HAS NOT given any CLEAR information in regards to WHY they labeled BCHABC as BCH.
Coinbase HAS NOT given any detailed information regarding their customers respective BCHSV tokens.
This is not acceptable from a so called, 'leading exchange'.
PLEASE LIKE & SHARE IF YOU AGREE! LET YOUR VOICE BE HEARD!
-AB
Please visit the articles for further analysis...
Any exchange selling BCHABC as “BCH” is engaging in an extremely dangerous pump and dump fraud. Here is why.
The take home message, if you came so far, is to steer clear of exchanges that try to sell ABC as “BCH” as ABC is extremely unstable and not comparable to your BCH holdings. In fact all stable BCH miners are committed to mining BCH with the SV protocol and consider ABC an attack on BCH.
This death spiral is the most likely scenario for ABC because it relies on BABV, which is extremely unstable hash that can disappear any time if the pool operators cannot afford anymore to subsidise it.
So how does ABC save itself? The short answer is that BCHABC is doomed because the only way for BCHABC to be saved is for committed BCH miners (CBSM) to flip on ABC.
Sources:
medium.com
coingeek.com
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Death Watch
COINBASE:BCHUSD KRAKEN:BCHUSD
50% this morning! 100 dollar bitcoin coming in 2023Nice morning start...
Anyone wondering where BTC is going next during the day DM me.
Ultimately BTC is going to 100 Dollars
Yes you heard that right... 100 dollars
Amazon, Google, Facebook and Apple will create their own coins in the next decade and this will bring the first generation of blockchain to an end while they spend billions developing their own monetary system with the likes of JP Morgan.
Market FraudI am Beginning to be 100 percent sure that events in the market are manufactured simply to push the market one direction or the other that is favored by the elite. It is so obvious in this regulatory agency charge against Musk.....
How Ironic that as Tesla is about to make a push and succeed again the mounting Shorting attack again the company..., despite of it is unbelievable success...... Then a perfectly timed charge is published to make a perfectly chart timed blow to the stock to push it against a MULTIYEAR resistance line.... What a coincidence....
I Think those regulatory agency are the FRAUD..... not Musk
(LTC) Bots, Market Manipulation, and Forced Liquidations, Oh My!Alright folks, been AWOL for a bit but today's utter chaos called for a serious look at what appears to be blatant market manipulation.
So naturally, being that this is an LTC chart one would assume we'd be taking a hard look at litecoin.....well not really, sorry folks.
I actually chose litecoin because every since the litepay debacle the project has taken an utter beating...while your ltc wallet probably took a heavy hit...it gained something beautiful from all the chaos: increased market independence.
That is key, because as we all know BTC is practically a crypto index these days, LTC always had more autonomy due to more fiat trade pairs than other alts, but now especially it is moving more freely from BTC's clutches.
This is important, because while a knee jerk sell off of BTC like we saw this morning will always see alts follow; the ETH and LTC markets dont often appear to take direct ratio downturns with BTC.
But not this time. Oh no, this time fiat heavy trade pairs took nearly an identical hit...and that my friend's smells damned fishy.
(Just a sidenote: my formal background is actually in engineering and algorithmic cycles are something I studied pretty extensively, so I'm not just pulling this out of thin air, the cycles were clear and apparent from the get go)
Anywho, all the mumbo jumbo no one cares about aside lets jump in.
The pattern:
Cycle decrease is taken from impulse move to impulse move
Primary cycle appears to be 58 bars
Cycle break was 79 bars, nothing too telling here regarding cyclic length but it is worth noting that the offset rate of decrease from impulse high to low is maintained.
Every post pump down trend angle is increasing by exactly 2 degrees every cycle
As someone whose stared at one too many cycle output charts on MATLAB, and written a number of godawful C++ scripts this just screams "lazy coder" at an exchange attempting to disguise market manipulation through bots by just simply adding simple step and rest functions to the code.
Naturaully this is all speculative as I'm not behind the wheel at Bitfinex, but I'm sorry these patterns just seem too impeccable in their execution rate and uniformity.
Now, regarding today's plummet....what was that about? Realistically its anyone's guess until an insider comes forward. In my opinion though I would assume we either saw some mass liquidation by a few whales trying to FUD the market into a landslide so they could buy up bags, or possibly some major forced margin liquidations on the exchange side. Trading with leverage is at an all time high, what do you think makes more money, fees, or liquidated margin positions? Yeah, excatly lol
In all reality I think the most likely scenario is a mix of the two.
Anywho, heres a little bit about what to watch for with litecoin in the post freefall chaos.
Although it did spend a short period below it, LTC was range bound (~$115-$120) for quite some time prior to today's plummet.
The crash dead stopped at 162% extension from the final impulse wave up
We did tag the major trend 1yr+ support but as I write this it looks as though we may close this bar above it
We'll soon be approaching 58 bars since the smackdown. It's far from guaranteed but I do suspect well see some impulsive movement in the 58-79 bar range
If we get this movement, and it occurs on a bar following a close over the long term support TARGET 1 will be the 162% extension, TARGET 2 will be ~$115 (the prior lower bound of the ranged movement)
If however we hit that impulse move below the long term trend I'd say it might be time to gear up as the bears try to pull our beloved LTC down to $108 range.
This analysis is meant for purely educational purposes, and whether you choose to trade on it or not is entirely on you!
Good luck and happy trading fellow cryptoheads!
Austin Doyle
CTO