SHOCKING! What a manipulated move on Ethereum and Bitcoin!
Dear traders. In this analysis we appositely left in the chart the previous and targets. We identified as the last resistance the red in the 160$ area: it was really clear to see that was a key level for .
And the manipulators did an amazing job this time, here is why: a) They destroyed with incredible power all the resistances, and it seemed like also the biggest resistance at 160$ was left behind. This means that every breakout trader bought over 160$, giving them good liquidity to close their orders. b) Once the manipulators sold successfully their position, what is better than an illiquid Sunday night to make the market dump and buyback?
In short words, they made you believe this was time for a reversal and then smashed it 15% down.
PREDICTION But let’s focus on the future: what’s next?
This leg down has two possible scenarios 1) Bullish: the reversal could be near, and they crashed the market to create more incertainty and fill their bags more. The market seemed quite confident in the previous week (look at LTC, NEO or ETH), and if we rally up 10$ dollars we could have the same power as before. 2) Bearish: Unfortunately 70% of the times I saw this pattern, a second leg down (and sometimes also the third one) is likely to happen. If we can’t manage to keep the price over the support line, then another 10/15$ leg down is very likely.
Please, let us know your thoughts on this idea! Trade safely BFCM
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, which describes itself as an autonomous “digital currency for the people,” is the launch of an “intelligent” blockchain proposal system. Powered by , a stand-alone tool for off-chain data storage, the system allows anyone in the community to submit a formal proposal for the evolution of the Decred platform. This proposal is time-stamped, versioned and permanently stored in an off-chain repository to promote transparency and eliminate the possibility of censorship.
“Decred is bitcoin as it should have been,” crypto investor Jon Creasy. According to Decred evangelists, bitcoin was conceived as a decentralized community project, but, today, it’s de-facto controlled by an oligarchy of top developers and miners and vulnerable to pressures from powerful external actors.
The Decred project wants to build a more open and progressive cryptocurrency with a system of community-based governance integrated into its blockchain.
“We are more committed than ever to a sustainable and fair system of governance,” said Jake Yocom-Piatt, Decred Project Lead. “For Decred, Politeia will provide an off-chain public record of proposals, comments on proposals, and stakeholder votes. Although Decred will be using Politeia in a public capacity, it can provide similar utility as a private unalterable store of data. Public and private use-cases include document and record storage, reputation and identity systems, and supply chains.”
The Decred team wants to create an ideal infrastructure for self-governance of a cryptocurrency. Politeia, named after a classical Greek term that can be translated as “system of government,” is an off-chain store of data, both versioned and time-stamped (in other words, “git plus timestamping”). While Politeia will initially be used in Decred’s proposal system, it has been developed as a generic tool that allows its users to create and maintain arbitrary data in a version-controlled and time-stamped environment.
Time stamps and proposal anchors
All proposals for the evolution of the Decred platform, initially formatted as text with markdown and PNG images, will be stored in Politeia with version control and time stamps anchored in the blockchain. Proposal anchors in the Decred blockchain include a transaction hash and a merkle path to indicate that a particular git commit hash existed before the time stamp on the next anchor in its repository.
“In addition to powering our proposal system, Politeia has been developed as a stand-alone tool that allows its users to create and maintain arbitrary data in a version-controlled and timestamped environment,” Yocom-Piatt told bitcoin Magazine. “Although it does depend on using a server for creating time stamps, Politeia does not require users to hold any decred, and we believe it has a wide array of potential applications, e.g. for records storage, identity systems, supply chains and other provenance-driven domains. Open sourcing this technology will bring the real-world utility that is necessary to attract a broad community of users.”
According to Yocom-Piatt, having cryptographically verifiable public records will give users of Politeia the assurance that their governance is being executed in a transparent fashion, with all records independently verifiable and stored in a format that is difficult to forge. “By making Decred’s governance data time-ordered in a verifiable fashion, we ensure that attempts to manipulate Decred’s governance, either from outside or within, will be much more difficult than when using a conventional website or similar,” notes Yocom-Piatt.
Any proposal submitted to Politeia that is censored can be publicly demonstrated as having been censored, creating accountability for the administrators of the proposal system and avoiding “one of the more insidious and common practices of modern social media sites, where data is silently censored.”
Comments on proposals, editing proposals and voting on proposals will be added to the Politeia platform.Decred is also announcing a competition for projects based on Politeia with winners to be announced at an event in Austin, Texas, on December 1, 2017. The prizes for 1st, 2nd and 3rd place will be the equivalent of $10,000, $5,000 and $2,000, respectively, paid in decred.
