Bitcoin CNY premium over USD, Capital control explained.

China doesn't have a capital control problem. It is all western media bullshit. Look at China's recent monetary policy. Just yesterday, they allowed individuals in Shanghai to exchange RMB for foreign assets. They are freeing up capital control, not tightening it. CNY to USD recently appreciated by 0.6% in trading. Their objective? Spread CNY to the rest of the world, become the dominate currency in Asia and join the IMF.

BTC/LTC update, FOMO/crash and personal break

Hi all, I will be taking a short break in BTC trading and focus more on the stock market instead; ibankstocks anyone?. I am taking a break here because I am frustrated at the exchanges and also market is illiquid and unpredictable.

When is LTC going to hit a top? I believe we are close

I am not good at picking tops. I don't usually try to call it because I don't trade it. However, I believe we are close to a short term top. Sentiment is euphoric on LTC right now. So euphoric that this forum's discussion have been derailed by LTC in the last two days. Top traders on LTC futs are at 66% or higher, that is unheard of in BTC land. 

Bitcoin market analysis, bulls look weak and tired. 11-18-2014

Looking at the 4hr bitcoin chart, the bulls failed to make new intraday high. Each rally is faced with more selling. In addition, I talked about the Eiffel tower pattern that happened when the market went absolutely wild. 

For my own trading, I haven't traded much just watching this rollercoaster play out. I have been scalping though, very profitable with this liquidity. Its so short term that I won't be able to update. I do see new opportunities ahead once the dust settles so stay tuned.

The Eiffel Tower Pattern

The Eiffel tower pattern is essentially a fast price rise followed by fast price fall, effectively mirroring the price rise to the price fall like an Eiffel tower. Price of this pattern starts off choppy, but making new highs gradually. When market participants realize the path of least resistance is up, price develops into a new phase of exponential growth. This high price level become unsustainable and fall until it retraces all of its gain. The pattern was first coined by Chris Kimble, a professional hedge fund/portfolio manage as an example during periods of a bubble.