Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
CMMPro
on 29/11/2013, 03:02:44 UTC
Nice job spotting the pattern, but I think they are just classic head and shoulders...they repeat like that as levels of support and resistance are broken.

I don't think someone would program to generate a H&S, more likely they would program a bot to profit from one(s) already building based on the proportions.





Perhaps, they seem extremely uniform though.

Yeah, very true...I just do not see a motivation for a bot to create a H&S.
Unless the bot is trying to trigger people into thinking the price is about to go up...it could be manipulation, I wouldn't discount other people's motives at all right now.