- Mainstream Currency Price as of 1:00 PM UTC from Coinbase Pro:
· BTC —9,158.96 USD
· ETH —181.78 USD
· EOS —3.279 USD
· XRP —0.2910 USD
2 The Fear Greed Index: 56— Greed
3 Crypto Updates:
• Craig Wright Says He Has No Funds for Settlement in Kleiman Case
The latest court documents in the David Kleinman versus Craig Wright case filed on Nov. 1 reveal that Wright — the self-proclaimed Bitcoin (BTC) creator Satoshi Nakamoto — informed the plaintiff that he could not finance a 500,000 BTC ($4.5 billion) settlement.
Given that the case was apparently reaching a resolution with the agreement, the plaintiff stopped active litigation and focused on settlement, joining Wright’s requests to extend the deadline into late October. Then Wright allegedly broke the settlement agreement:
“On October 30, without any advance notice, Plaintiffs were informed Craig could no longer finance the settlement and was ‘breaking’ the non-binding settlement agreement.”
The given document is the plaintiff’s expedited motion to depose out of state witness. The deposition explains that in September the plaintiffs discussed a settlement with Wright, noting that his claims implied he had the means to cover the costs.
• Ether and Bitcoin Price Look for Direction After Last Week’s 42% Rally
Over the past few weeks, Ether (ETH) has tracked Bitcoin’s (BTC) price action and observant traders have deftly played reversals off double bottoms and back to back bounces at the $162 and $153 support. A comparison of the daily and weekly charts of Ether and Bitcoin highlights a number of similarities, chiefly, the Doji candle set right outside the upper arm of a wedge pattern. Ether, like Bitcoin, is consolidating into a tightening range as Bitcoin cools off and searches for direction after the meteoric 42% rally on Oct. 25.
With the weekly close approaching, traders are probably enjoying the weekend and waiting for the candle close to provide some insight into what direction the market might take going forward.
• Crypto News From Japan: Oct. 27 – Nov. 2
In this week’s selected cryptocurrency- and blockchain-related news from Cointelegraph Japan, the Japanese Liberal Democratic League said that it will formulate a quantum technology innovation strategy by the end of this year, crypto exchange Coincheck’s registered users are steadily increasing, Mt. Gox trustee extends the submission deadline again, and the SBI Holdings president is thinking about expanding into Europe with security token offerings.
• Binance Bitcoin Futures ‘Attack’ Sees FTX Exchange Face $150M Lawsuit
Cryptocurrency derivatives exchange FTX has received a $150 million lawsuit for market manipulation and selling unlicensed securities in the United States. Uploaded to social media by End of the Chain podcast host Samuel McCulloch on Nov. 3, sections of the lawsuit document show FTX accused of “attacking” fellow exchange Binance.
The plaintiff, a mysterious entity known as Bitcoin Manipulation Abatement LLC, is demanding $150 million in exemplary and punitive damages.
According to the plaintiff’s lawyers, FTX used accounts to manipulate Binance’s recently-launched Bitcoin futures in mid-September. The document reads:
“Defendants, and each of them, were caught red-handed when, at about 21:00 EDT on September 15, 2019, and acting in furtherance of the manipulative and deceptive scheme as alleged hereinabove, Defendants, and each of them, made two illicit unsuccessful attempts to manipulate prices of Bitcoin futures listed on Binance cryptocurrency futures exchange.”
The lawyers continue that Binance did not succumb to the attack due to its BTC prices being calculated using an index, securing it from small-scale attempts to move markets in such a way.
“The crux of the plaintiff's argument is that FTX used its position to manipulate BTC prices using momentum ignition algos, with the goal of creating liquidation cascades,” McCulloch summarized.
4 Trader’s View:
• ItsShowtime from TradingView: You remember that Shiff Pitchfork? Yeah that's STILL in play!
Same Shiff Pitchfork as posted earlier in my Idea linked below is still dedicating the short term swings correcting last week's 43% pump.
Hey guys, let's agree at least that this pump was worth its money, even if we retrace 50% in a few days. I mean come'on guys, I have been trading Bitcoin since 2016 and this is completely out of the ordinary. In fact, at this point we know it was the biggest pump in less than 24h since the 10th of May 2011 (and it didn't even take 12 hours to fully complete the first impulse wave). This is the third biggest pump in Bitcoin history, one we have been waiting on for more than 8 years, that should be celebrated!
For the bulls out there that missed the first run, I hope you picked some up at 8.9 when it perfectly hit the 0.5 FIB line, I was too late to do so, and am waiting to get in at the 0.618 lining up for the next big move.
Here you can see the opportunities you had to make money during the correction on that move, I hope you didn't miss all of them!
PS: Since I am short term short and mid + long term long, I do not have the balls to set the Strategy at short right now. I am also not advising anyone to take the short right now, unless you know what you're doing!
• Gabrielestampa from TradingView: BTCUSD, The moment of truth
The bearish triangle generated a double top that is now testing the last resistance.
The graph is difficult to read and quite different from the one relating to the BTCEUR which I observe by comparison.
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