"The Big Pump Signal" is a Telegram group of traders who have decided to pump and dump various coins every few days. They have approximately 50,000 followers who may contribute to the pump and dump announcements.
Example of their announcement: Dear members, For today we have a different setup. Not a ussual pump. We are spreading news again, just like the OAX pump, one of our most succesful pumps. This time you have the ability to earn a prize if you retweet and react on the tweet. Just like yesterday's give away, we will be giving away 2x 200$ sponsored by Althansia (one of our Discord members) . To win: Retweet, like and react on the news tweets and upvote the reddit post. We share these news posts, so we can get outsiders in the pump to optimize the profit of our members. Right after the pump, we will announce two winners. Also, after the pump the invites on Discord will be turned off for a small while. We are upgrading and improving the current system and implementing some anti-spam features. Let's make this a pump we will never forget! The Pump team
See update below for a zoomed in version on the 1 minute scale to show how quickly this pump and dump happens.
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zoomed in 1m chart
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To be clear: I'm not manipulating the market and I'm not part of this scam. I'm only monitoring these guys. I have not been involved in their manipulation. I just happened to see the announcement about 15 minutes before it happened, so I jumped on TV to monitor it and show people that markets are being manipulated out there and to beware of such manipulation.
People need to understand that market manipulation is real. Whales and whale groups can pump and dump and the bigger they are, the more they can affect the markets over a longer period of time and thus not be noticed.
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China manipulating the market now..
Please see this.. it is just as accurate today as it was in 2013. imgur.com/a/KDwtE
Finally some truth. Everyone be careful. Over 50% of all altcoins are pumped just like this. All it takes is $100,000. Maybe even less. Anybody can form their own secret cartel of 20 friends and pump just like this. In fact, that's what the banks are!!!
alexhiggins732
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+1. Yes. I know it doesn't account for much but watch the 1 minute rsi and see if it just goes absolutely dead.
And Don't forget the successive follow up pumps, typically with lower and lower highs to keep the price propped up long enough to unload everything that was bought and perhaps make even more money. As the price rises, traders see signs of another possible breakout and FOMO buyers rush to get it before it "goes to the moon". Even more educated investors will buy in seeing a positive technical analysis breakout and/or manipulated trade indicators triggering them to get into action to catch the next price move.
Then pump will slowly sell off leaving a chart pattern that looks like a big middle finger or there will be series of successive pumps to lower and lower highs accompanied by successive dumps to increasing lower lows. The latter is done give the chart the look of a natural breakout. With these after a "mini-pump" buying will abruptly stop. The dump starts slow and increase is velocity as "bag holders" who bought at a higher price than the current price begin realizing the price is going to drop 5,10,15% and fear they won't have an opportunity to take this small of a loss. The price continues to drop like a knife with no support until the order book is thin enough to pump the price again, most likely to a lower high, still make a profit.
How to spot them? I can't say 100% for sure but there are certain read flags. The initial pumps will most likely target a low volume, low quality coin that has an order book that can be bought out to a reasonably high price. Often the pumping is accompanied by with unsubstantiated and false rumors about a major event that will drive the coins price.
The follow up smaller pumps may then be buying into massive sell wall. The sell walls get larger and larger with each pump and buys bids in the order book begin to dwindle away. These follow up pumps stop even though technical analysis and indicators would suggest they shouldn't and start when technical analysis and indicators suggest the shouldn't. Check the see if the coin was selling at low volume and increased in price some large multiple recently without reason. Check the order book to see if the amount being sold is a much larger amount than the that being bought. Check that there are sufficient buy bids to support the price, although this can be faked too. Check that is a decent percentage of buy bids within a reasonable distance of coins current price, otherwise the price could drop severely with minimal selling. Seeing an order book with majority of the buy bids being 100-200%+ lower the current price is a red flag.
majority of people making money from this is the organisers everyone else will get stuffed up
MagicPoopCannon
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LOL
WARBUCK
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Why complain about em? Hell I ride em...I'm not in this to make friends, I'm in it to make money.
webmi
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TA based on SCAM!!!! And i will be watching all coins from this group now and helping innocent new commers to avoid it!!!
Tin.Foil
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@webmi, What are you talking about? I didn't even TA this one. I only showed what happened based on knowing that it was pumped and dumped. You're an idiot.
webmi
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@tin.Foil, I am sorry,... i must admit i did not even read your TA,... but just get mad when TA was posted upon scam group. yes,... i was a idiot