This thought has made me more money than watching the news or wondering what caused that move.
The concept of the "Composite Operator", A Wyckoffian term, and it is the culprit of most major events in the market. Composite man as I call him is able to manipulate retail and the overall sentiment. A lot of people will say these old techniques don't work, what about PlanB's model instead? 135k called over a year ago... hmmmm
You don't believe in composite man? Well this might convince you otherwise...
One more pop up, over the recent highs, could even be a quick wick up, but it would trigger so many stop orders and so many new enthusiastic buyers to sell to. With {insert influencer of your choosing here} shilling their moon calls. Demo accounts getting REKT left, right and centre.
A perfect psychological play.
See @Paul_Varcoe 's latest idea on this topic here:
Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
Not sure I understand. Are you saying the negativity in the retail equity-driven markets is so negative it will cause retailers to short and then the resulting contrarian rip up will get them rekt...before it drops? Sorry. I get the contrarian nature of sell the public on "to the moon", pull the rug...but I am not sure what direction, if any, you are advocating. The price of BTC is about to do what? SOrry if I am thick-headed...
nothingbutblue
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@BigFrenchChicken I think he's saying it's a bull trap. Really no one knows for sure at the moment but these moves aren't really supported by the broader markets so that is the most likely scenario.
Slinkman
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@BigFrenchChicken, "One more pop up, over the recent highs, could even be a quick wick up, but it would trigger so many stop orders and so many new enthusiastic buyers to sell to" He expects 1 more leg up, then a rug pull. No one knows what is going to happen. He might be right, or we could continue to 30k+. It is a game of probabilities.
theresedoyle2011
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After getting past resistance and rejected at 30k+, a big test via a spring drop down to the origin 16k(which is a last chance for institutions to bottom fish for value). The question is, can they push someone with a lot of stock into dumping it or are they confident enough they can get it there and willing to risk their own stock to do it? Price will move from equilibrium to premium, back to equilibrium and to discount. It has been at discount for a long time now, I think Smart money will want to sell premium.