Never before Bitfinex shorts were as high as on the previous 2 peaks. Even when we had a big Crypto Market and BTC dip this year!
Thus somebody realized what kind of power does this graph hold in the eyes of traders and their followers.
So, what do they do now? They push shorts really high in an extremely short time frame spanning from few hours to few days and it's one entity most probably only!
What happens next?
After the shorts start to go up we sooner or later dump! (red) After the shorts go down we sooner or later pump! (green) After shorts reach peak there is a strong trend coming! (blue)
Most probably they are influencing BTC to stay in the channel and not break up or break down. That's why it did not happen as suggested in previous posts since that kind of entity can put a position worth few thousand of BTC in order for this to be seen! Why would somebody close them so fast and how can that entity do that on the market is probably a rethorical question but don't forget - 10000 BTC is worth around $300 mio!
Since BTC is moving down already we can expect further dip and most probably then the bounce from support channel.
Not just Bitfinex, was across all trading platforms. Timed and coordinated perfectly with news of imminent break outs up. The big money really doesn't want to little guy to own crypto unless it's through a major organisation like hedge funds and investment banks. Doing their best to scare holders into selling.
Samoto
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@xponenshul, Bitfinex had the most extreme change in short while longs were still going up! That kind of extremes have not been seen before. At least not in that short time span.
CristoJarabaFX
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I think this could be (if he really exist) Joe Van Der Velde (AKA JOE007 - RealBTCWhale), who say he has 10k BTC, which use to move the market as he want to.
This guy knows very good how to manipulate the market, and has the team and techonology to understand how to do it.
He is also well respected by all big players, from whales to exchanges.
If this is the case, there are 2 main possibilities to come, 1. he is going to do whatever he want to and will keep rising his wallet, or 2. new big players (institutions) are going to REKT him as he never thought they could.
We have to beat this guys lol.
Cheers
Samoto
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Shorts are rising as expected! First bounce came in even faster.
BitcoinMonsta
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So when BTC dumps, people scream manipulation!!!
When BTC pumps, nobody says a word. Make up your mind.
This is a bear market, BTC going down is usually what happens. In a bull market, the buyers outweigh the sellers and verse visa.
Bull market ended a while back. Wish you could prove me wrong, but I've yet to see any signs of life. When there were barely any sellers, the volume was so low and the max price it hit was 36k.
Samoto
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@BitcoinMonsta, its clearly seen that BTC going up was manipulation also. Even for the small bounces since the short squeeze worked out. Here you can see it:
TrapTree
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@BitcoinMonsta, if you scream bear market long enough eventually you'll be right lol, prob been saying that since 29k and here we are at 49k
BitcoinMonsta
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@zrhayes410, It goes the same way, both ways.
The huge pump to the upside was most definitely manipulated just as much as the increased amount of shorts.
However, this seems to be the game of crypto. Whales be making money.
Best thing to do is to play the game with them and try to get out before they get your liquidity.