Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Right now is honestly the worst I've ever seen bitcoin chart-wise. The 6 month chart is a down channel about to drive off a cliff as I already posted:
And the short term chart is a head and shoulders forming (at least on Finex):
While you also have some enormous Gox-like spread between Finex and other exchanges. Not sure why anyone would be holding right now. All this is is manipulators trying to rig the market up because it's too illiquid for them to dump their entire $10 million+ stash all at once.
These whales like Digital Currency Group know they're trapped because they can't just parlay the money over to Ethereum since they know the price of that worthless scamcoin is already far too high for anyone to want to buy it from them. Increasing the price of Eth just gets them trapped even more. About the only move for them left is either dump BTC for fiat and flash crash it, or transfer funds to try and segwit pump Litecoin.
Interesting, but I think IF we go down it will be 2 waves down like we have widnessed a couple weeks ago. Flash crashes become more and more rare. Except on Coinbase And the short term chart is a head and shoulders forming (at least on Finex):
While you also have some enormous Gox-like spread between Finex and other exchanges. Not sure why anyone would be holding right now. All this is is manipulators trying to rig the market up because it's too illiquid for them to dump their entire $10 million+ stash all at once.
These whales like Digital Currency Group know they're trapped because they can't just parlay the money over to Ethereum since they know the price of that worthless scamcoin is already far too high for anyone to want to buy it from them. Increasing the price of Eth just gets them trapped even more. About the only move for them left is either dump BTC for fiat and flash crash it, or transfer funds to try and segwit pump Litecoin.
Whats wrong with all those exchanges, they all have something nowadays. Strange prices, stucked coins, bank problems and lots of other strange things like whale manipulation and fake volume