Seriously, after the last 2 months, it seems like every +3% move upwards that breaks a certain technical level is seriously tested within 1 hr. Whoever is driving the price action loves to shake out people along the way. They like to see how good the support is after we make new highs. And a lot of the price action has totally been driven by China time. I mean, who the fuck is around in America trading at 2AM on Saturday to react to the dumps? Seriously?
China controls this entire market, and I'm a little worried because whoever is doing these shakeouts/dumps by now really knows how well the institutional trading bots on finex/okcoin/btcc behave.
I totally agree. its why much of the so called market analysis predicitng price movements has little relationship to what is happening behind the scenes.
people should remember that the ATH of about $1100 was false in that it was concocted. while mt gox has gone other players are still doing the equivalent with the price