Rescue 911 Spoofy and the gang with inside info on Bitcoin
So we have seen a breakout with a big acceleration and increase of volume. BUT, Bulls don’t get your hopes to high, this time it has become clear to me about what just happened. I don’t need to see facts or numbers, I am just 100% convinced about what happened and it’s just typical for the crypto market because it’s extremely easy (same happens with the stock market of course).
There are at least 2 types of traders/Investors, the daytrader or swing trader and the long term investor. Long term in crypto are mostly people who don’t know what they are doing and still think HODL is the way to do it, to get rich. People who short this market are mainly short term day or swing traders. They use specific targets and even more they use a stop loss.
There are certain people who have access to information that not everyone has, they are able to at which prices how much volume has an automated stop loss for a short a short position. I am just convinced that the people who pushed it higher, with that big up spike, knew exactly when to do it! It’s quite simple, when you now where there are a certain amount of automatic stops, and the levels were quite clear this time, the 9800/9900 was a clear resistance for a few days, than all they have to do is push it up 100 or 200 points and than the rest goes automatically, jusst like a snow ball rolling down a big mountain eating up all the stops. So do not see it as really buying, it’s only FORCED short covering. Exactly the same happened when it broke out the 8800 a few weeks ago and it began the rally to the 11.700.
Just think about it, if your a day trader and you see the price moving clearly between 9800 and 9400, where would you put your stop loss when you are long or short, between 50 and 200 points below or above those levels. And the ones with a wider stop probably even used 10.000/10.100 as a stop.
Almost the same happened a month ago in the stock market, with that big crash (which i called at the very top by the way :)). When it starts to drop hard, many stops (mostly people who trade with leverage) get triggered and are forced to close by the broker (exchange) pushing it even more down, triggering even more stops and so on and so on. Most people know what happened with ETH a year ago, with that flash crash, it's exactly the same. But with Bitcoin it gets used the other way around now, but dont worry, it also got used many times with the big drops. Look back at all those big drops it made from the 20K high, or the 17K high before that one. These huge drops (1K/2K/3K drops) within minutes, thats not only panic selling, probably only a small percentage. What happened at those drops, the unexperienced people who started to buy Bitcoin at the highs, got robbed from their money. Because the buy at the highs and panic sell with these big drops, or as mentioned above, when they use leverage they get stopped automatically. Who these White Collar thieves with inside information are, nobody knows unfortunately. But at least we do know who HAVE to be a part of this, providing the information! How great is it for them, that the crypto market and exchanges have been anonymus for such a long time. For these people cryptos are the greatest invention ever, just like all the people with the ICO scams and ponzi scams. Just to easy to easy, it's not even a challange!
It's all so obvious, but unfortunately not everyone sees it before the damage is done. We 'normal' people just have to accept how the world works, that is; The rich only get richer! It has always been like that through out history and that will never change. That's the mean thing about the crypto market, there have been so many succes stories (i call them advertisements) in the crypto market, that many people start to think that the same will happen for them. I just really feel sorry for those that have put in their lives savings and slowly loosing everything they have.
There are at least 2 types of traders/Investors, the daytrader or swing trader and the long term investor. Long term in crypto are mostly people who don’t know what they are doing and still think HODL is the way to do it, to get rich. People who short this market are mainly short term day or swing traders. They use specific targets and even more they use a stop loss.
There are certain people who have access to information that not everyone has, they are able to at which prices how much volume has an automated stop loss for a short a short position. I am just convinced that the people who pushed it higher, with that big up spike, knew exactly when to do it! It’s quite simple, when you now where there are a certain amount of automatic stops, and the levels were quite clear this time, the 9800/9900 was a clear resistance for a few days, than all they have to do is push it up 100 or 200 points and than the rest goes automatically, jusst like a snow ball rolling down a big mountain eating up all the stops. So do not see it as really buying, it’s only FORCED short covering. Exactly the same happened when it broke out the 8800 a few weeks ago and it began the rally to the 11.700.
Just think about it, if your a day trader and you see the price moving clearly between 9800 and 9400, where would you put your stop loss when you are long or short, between 50 and 200 points below or above those levels. And the ones with a wider stop probably even used 10.000/10.100 as a stop.
Almost the same happened a month ago in the stock market, with that big crash (which i called at the very top by the way :)). When it starts to drop hard, many stops (mostly people who trade with leverage) get triggered and are forced to close by the broker (exchange) pushing it even more down, triggering even more stops and so on and so on. Most people know what happened with ETH a year ago, with that flash crash, it's exactly the same. But with Bitcoin it gets used the other way around now, but dont worry, it also got used many times with the big drops. Look back at all those big drops it made from the 20K high, or the 17K high before that one. These huge drops (1K/2K/3K drops) within minutes, thats not only panic selling, probably only a small percentage. What happened at those drops, the unexperienced people who started to buy Bitcoin at the highs, got robbed from their money. Because the buy at the highs and panic sell with these big drops, or as mentioned above, when they use leverage they get stopped automatically. Who these White Collar thieves with inside information are, nobody knows unfortunately. But at least we do know who HAVE to be a part of this, providing the information! How great is it for them, that the crypto market and exchanges have been anonymus for such a long time. For these people cryptos are the greatest invention ever, just like all the people with the ICO scams and ponzi scams. Just to easy to easy, it's not even a challange!
It's all so obvious, but unfortunately not everyone sees it before the damage is done. We 'normal' people just have to accept how the world works, that is; The rich only get richer! It has always been like that through out history and that will never change. That's the mean thing about the crypto market, there have been so many succes stories (i call them advertisements) in the crypto market, that many people start to think that the same will happen for them. I just really feel sorry for those that have put in their lives savings and slowly loosing everything they have.
Comment:
Comment:
Wrong one sorry :)
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Anyway this big move up says we will go up further, towards the 11.700, I would like to see IF gets there, and if we break that level, i would be surprised if we break the 13K. If buyers really have regained all the trust in Bitcoin and the crypto markets and start to pay the high prices again for crypto's. For more trading advice, please look up my latest Bitcoin chart, with trading updates