With the upcoming Binance Outage scheduled to occur in 10 hours, I thought it would be beneficial to show what happened the last time we had a Binance Outage, and how the market dumped below $6,000 support immediately afterwards. I believe this correlation was overlooked by the cryptocurrency community, and believe we should all be aware of this going into the system outage that is schedule to be performed by Binance at 2:00 AM, March 12th, 2019. Which is in 10 hours from now, at the time of writing this post.
After you read this post, a "like" or "thumbs up" will help bring awareness and get more eyes on this observation.
Let's dive in.
Back on November 13th, 2018, we experienced the grand crash of the cryptocurrency market. At the time, the main story dominating cryptocurrency news cycles was regarding the Bitcoin Cash ABC and Bitcoin Cash SV hard fork. There was a significant amount of drama regarding this event, and it was the perfect storm to blame for the break of $6,000 support.
However, I believe it had absolutely nothing to do with the big crash. I fully believe we were going to come down to this price level, so do not mistake my analysis here. However, the timing of it, and how it occurred was very odd. And correlated exactly with Binance's last System Outage.
Here is the update we received from Binance on November 13th:
System Upgrade Notice
Binance
4 months ago
Fellow Binancians,
Binance will perform a scheduled system upgrade starting at 2018/11/14 2:00 AM (UTC). The upgrade will take approximately 8 hours. Binance will suspend deposits, withdrawals and trading during this period. We apologize for any inconvenience caused, and thank you for your patience.
Please note:
The 8 hours is based on our best estimates and may vary. As usual, we will maintain regular communication on the progress of the upgrade on our various social media channels.
We recommend that you download the latest version of the Binance APP to receive live push notifications on our updates (Android, iOS app Store).
Thank you for your support.
Binance Team
2018/11/13
The update, or, "system outage", occurred on November 14th. Here is an update from their "Medium" page.
UPDATE (2:00 AM UTC): The Binance system upgrade started November 14, 2018, 2:00 AM UTC. Stay tuned to this page for more updates.
UPDATE (8:30 AM UTC): The Binance system upgrade is now complete. We will resume all trading activity at 09:00 AM (UTC). You can now cancel orders, process deposits, withdrawals, and use all other account-related functions. Thanks for your support!
So, the update was completed at 8:30AM on November 14th.
Let's see what time Bitcoin started crashing:
Ok. That's odd, right?
Let's take a look at some other charts on smaller time frames. On these charts, you'll see the odd candle sticks from when Binance was offline, then subsequently, once Binance comes back online, the "big crash" begins.
Notice the odd candle formations below on November 14th? Not to suspect, as Binance is online, so you would assume the data being pulled by TradingView would not provide reliable data during that timeframe, so we get a bunch of green bars. But, once Binance comes back online, the crash begins:
So, do you really think this crash was caused by the Bitcoin Cash hardfork drama? Do you see the correlation between timing of the Binance outage and the crash occurring?
Now, we have another Binance "System Outage" that is scheduled to occur in 10 hours from the time of writing this post. Let's look at the charts and see where the last one occurred in regards to fractals, and where we are now.
One can only speculate what all this means. And I am not here to make speculations or to make accusations. But I think it's crystal clear, when Binance came back online from it's outage in November, the market crashed. What is even more odd, is that we are going to get another "system outage" from Binance, when the market has repeated the fractal from November, and is at the exact same location in the fractal. How... Ironic?
Here is the update from Binance:
System Upgrade Notice
Binance
10 hours ago
Fellow Binancians,
Binance will perform a scheduled system upgrade starting at 2019/03/12 2:00 AM (UTC). The upgrade will take approximately 8 hours.
Binance will suspend deposits, withdrawals, and trading during this period. Deposits that are not completed before the start of the upgrade will be processed after the upgrade is complete. Please allow some time for deposits to be reflected in your account following the system upgrade.
We apologize for any inconvenience caused, and thank you for your patience.
Please note: The 8 hours is based on our best estimates and may vary. As usual, we will maintain regular communication on the progress of the upgrade on our various social media channels.
Thank you for your support.
Binance Team
2019/03/11
Please like this post in order for our community to see this. I did not see this correlation shared AT ALL when it occurred during November, and it cannot go unnoticed now.
Good luck to all.
After you read this post, a "like" or "thumbs up" will help bring awareness and get more eyes on this observation.
Let's dive in.
Back on November 13th, 2018, we experienced the grand crash of the cryptocurrency market. At the time, the main story dominating cryptocurrency news cycles was regarding the Bitcoin Cash ABC and Bitcoin Cash SV hard fork. There was a significant amount of drama regarding this event, and it was the perfect storm to blame for the break of $6,000 support.
However, I believe it had absolutely nothing to do with the big crash. I fully believe we were going to come down to this price level, so do not mistake my analysis here. However, the timing of it, and how it occurred was very odd. And correlated exactly with Binance's last System Outage.
Here is the update we received from Binance on November 13th:
System Upgrade Notice
Binance
4 months ago
Fellow Binancians,
Binance will perform a scheduled system upgrade starting at 2018/11/14 2:00 AM (UTC). The upgrade will take approximately 8 hours. Binance will suspend deposits, withdrawals and trading during this period. We apologize for any inconvenience caused, and thank you for your patience.
Please note:
The 8 hours is based on our best estimates and may vary. As usual, we will maintain regular communication on the progress of the upgrade on our various social media channels.
We recommend that you download the latest version of the Binance APP to receive live push notifications on our updates (Android, iOS app Store).
Thank you for your support.
Binance Team
2018/11/13
The update, or, "system outage", occurred on November 14th. Here is an update from their "Medium" page.
UPDATE (2:00 AM UTC): The Binance system upgrade started November 14, 2018, 2:00 AM UTC. Stay tuned to this page for more updates.
UPDATE (8:30 AM UTC): The Binance system upgrade is now complete. We will resume all trading activity at 09:00 AM (UTC). You can now cancel orders, process deposits, withdrawals, and use all other account-related functions. Thanks for your support!
So, the update was completed at 8:30AM on November 14th.
Let's see what time Bitcoin started crashing:
Ok. That's odd, right?
Let's take a look at some other charts on smaller time frames. On these charts, you'll see the odd candle sticks from when Binance was offline, then subsequently, once Binance comes back online, the "big crash" begins.
Notice the odd candle formations below on November 14th? Not to suspect, as Binance is online, so you would assume the data being pulled by TradingView would not provide reliable data during that timeframe, so we get a bunch of green bars. But, once Binance comes back online, the crash begins:
So, do you really think this crash was caused by the Bitcoin Cash hardfork drama? Do you see the correlation between timing of the Binance outage and the crash occurring?
Now, we have another Binance "System Outage" that is scheduled to occur in 10 hours from the time of writing this post. Let's look at the charts and see where the last one occurred in regards to fractals, and where we are now.
One can only speculate what all this means. And I am not here to make speculations or to make accusations. But I think it's crystal clear, when Binance came back online from it's outage in November, the market crashed. What is even more odd, is that we are going to get another "system outage" from Binance, when the market has repeated the fractal from November, and is at the exact same location in the fractal. How... Ironic?
Here is the update from Binance:
System Upgrade Notice
Binance
10 hours ago
Fellow Binancians,
Binance will perform a scheduled system upgrade starting at 2019/03/12 2:00 AM (UTC). The upgrade will take approximately 8 hours.
Binance will suspend deposits, withdrawals, and trading during this period. Deposits that are not completed before the start of the upgrade will be processed after the upgrade is complete. Please allow some time for deposits to be reflected in your account following the system upgrade.
We apologize for any inconvenience caused, and thank you for your patience.
Please note: The 8 hours is based on our best estimates and may vary. As usual, we will maintain regular communication on the progress of the upgrade on our various social media channels.
Thank you for your support.
Binance Team
2019/03/11
Please like this post in order for our community to see this. I did not see this correlation shared AT ALL when it occurred during November, and it cannot go unnoticed now.
Good luck to all.
Comment:
It is now 2:00 AM UTC. Binance has gone down and will return in 6-9 hours.
Comment:
Binance is now back online. The very positive note here, is that we didn't see a sudden dump immediately upon returning online, as we saw in November.