Quick thoughts on recent price action. Shows possible thought process of whales / market makers.
So for my Stop Loss settings, I ask myself: -Where are everybody else's stops? (too much of a target) -If I put my stop above/below, what happens to my Risk v Reward formula? -If I can not my stop above/below, am I just asking to LOSE that stop?
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Looks like ''they'' are still targeting the 10k stops. More signs of wiping out longs, testing each support, etc.
I am also tracking what they are doing on Bitfinex in a series of charts with markup. I haven't figured out the story yet. Here are some examples from today:
EuroMotif
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@hkh222, Very interesting, thanks. Will watch BitFinex more closely.
Certainly the dump last night (from 9.3k) was lead by finex, and that exchange dropped a lot more than others.
cI8DH
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@euromotives, it was really weird. I don't understand who is doing this. 9k+ buy and sells difference was only 370 sell of Bitcoin. If the bull composite have done this, then it is not good for the market on the long run because this scares the traders. If it was the bear composite selling, then why the bull composite bought nearly the same amount? It's just messy.
EuroMotif
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@hkh222, Some people were saying Mt Gox lawyer must have sold a bunch on Finex last night. But yeah, it sure got absorbed very quickly.
Overall I do think the manipulators are trying to keep the market sacred, perhaps while accumulating.....
cI8DH
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@euromotives, It can be re-accumulation. Alts still look good, so it is possible (IDK) that they are accumulating. I'd love to see Kobayashi selling again and fucking up the whales plan. We will see how much they can absorb before breaking.