I may regret this in the morning, as it will cause some people to want to trade against me, but I feel that I need to put it out there. Bitcoin TA is heavily manipulated at the moment, by at least 2 parties. Be careful out there.
Could you please explain it in more detail? Is it the ask spikes I'm seeing @ 750 and 768 Bitstamp? Or something completely different?
Hint: China.
You mean that perfect pennant on the 1H or some other thing regarding your trip?
Are you still there btw?
Yeah, I'm a little confused by what Loaded is saying. The TA on the charts looks bullish, with a bullish pennant forming. It sounds like Loaded is saying the market is being manipulated upwards and so traders may want to hedge to the downside, which would go against his market buys. But really, I have no clue what he is saying.
Maybe he means volume and price at the Chinese exchanges (Huobi and OKcoin) witch makes the market look much more bullish than it really is.
Price manipulation is to keep it down, or up.
Keeping it up is so you can sell coins at artificially high prices
Keeping it down allows you to buy at artificially low prices.
Keeping the Chinese exchange prices high enables Chinese coins to be sold off easier in a general market that thinks China is still in the game. Actually, no money is going into Chinese exchanges and the reality is the smart Chinese money is pulling out.
This could be a clever, controlled sell-off of off-market (or market bought) coins originating in China, when if things were not being 'controlled' China exchange prices would be on the floor.
Keep China looking good and slowly ease those coins out and sell them steadily off at Stamp and BTC-e (but not at Gox)
Everything looks good, market believes China is now behind us, price slips a little, but hey, it's the holidays.
And Big money is rinsed out of Chinese exhanges with no panic.
We see the lights on on BTCChina, but actually - no-one's home.