The is my first post. Instead of focusing on traditional technical analysis , I wanted to point out an interesting observation. There is plenty of TA already out there by more more experienced traders that one can view. But something very peculiar has not been addressed.
And that is that Bitcoin -5.35% is declining in a very predictable reoccurring pattern. If we look at the long term bear market decline and offset the chart by approximately 20 days, the two charts look eerily similar. To understand what I'm talking about, see this image comparison here. ibb.co/nKLR1S
Ever wonder why these patterns move together? It's probably the same algorithm. Someone has a a lot of coins and is running a trading bot to buy and sell at certain percentages. The algorithm must be buying until set percentage gain and time period are met, and it begins selling only to repurchase later. This process repeats over and over again.
I ask myself questions, who has the capability to manipulate this market so effectively? And when will they change the parameters? If the pattern continues, I drew a continuation in the idea attached.
Is this the biggest scam in history, or something else? Let me know what you think?
you sir are correct. first person ive seen notice this.
josephtse
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We all habe the same question and I think the truth is, we're all being played by these bug whales' algos. The fracial continues to repeat-just when it breaks of the trendline and looks like it's gonna go higher, it quickly reverses to trap all the hopefully bulls, only to head back down. There's still major overhead resistance and every rally continues to get faded. I think the same thing is gonna happen again around the 8800 area.
henkes
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I think banks and bitcoin have something in common, manipulation and scam. Despite that I still hold crypto, I have a dream, to see bitcoin fall like a map castle.
Walentine
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agree!!
Belegging
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Looks like you are right. Is this the time frame you used?
venturetrade
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Maybe. And the goal of this would be to get this market back into the bull territory. That's why I am not touching this I am short.
venturetrade
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@venturetrade, and btw the same "plunge protection" kicked in around 6K in november. I noticed that coincidence all along.
thesilverbullet
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LOL
HanktheTank
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You know you can purchase a bot yourself for 0.06 BTC. It's not like you have to be a member of the Illuminati to trade with a bot, nor is it unexpected or illegal.