A lot of market manipulation is going on. Be careful.
We have been in a bear market for a few months now. In a bear market, Pump and Dump schemes are extremely easy to pull off if you are a whale or a bunch of whales. In a bull market, people would instantly buy the dump, leaving whales holding fiat bags and decreasing their position. But in a bear market, when a whale pumps a few % people instantly FOMO into it thinking "the bear market might be over, this might be the final reversal", only to get slammed a few hours, maybe days later.
Whales "Pump and Dump" schemes can be easily spotted. Bitcoin will either be going sideways for hours and suddenly have an unexplanable jump, followed by more sideways action, and then suddenly an unexplanable dump, either reverting to previous level or going well past it because of fear being injected in the market.
Whenever you see a big green dildo in a bearmarket, in contrast to a healthy slow step-by-step growth, look up for big bullish news. If you find none, be certain its just a whale playing around. And whenever you see a big red dildo in a bullmarket, in contrast to a healthy slow step-by-step retraction, look up for big FUD. If you find none, be certain is a retarded whale to be tramped by bulls in a few seconds.
We've had quite a few instances of these Pump/Dumps over the last months, particularly more over the last few weeks.
These candles aren't bounces because the coin was trading sideways for hours. It didn't reach a relevant support and suddenly bounce up, nor did it reach a relevant resistence and bounce down. If you want to see a text-book "support -> bounce" just look up the fall to 6K recently. If you wanna see a text-book "resistence -> bounce" just look up the 20k ATH.
Trade carefully, don't get whaletrapped.
Whales are weak in a bullmarket and very strong in a bear market.
Whales "Pump and Dump" schemes can be easily spotted. Bitcoin will either be going sideways for hours and suddenly have an unexplanable jump, followed by more sideways action, and then suddenly an unexplanable dump, either reverting to previous level or going well past it because of fear being injected in the market.
Whenever you see a big green dildo in a bearmarket, in contrast to a healthy slow step-by-step growth, look up for big bullish news. If you find none, be certain its just a whale playing around. And whenever you see a big red dildo in a bullmarket, in contrast to a healthy slow step-by-step retraction, look up for big FUD. If you find none, be certain is a retarded whale to be tramped by bulls in a few seconds.
We've had quite a few instances of these Pump/Dumps over the last months, particularly more over the last few weeks.
These candles aren't bounces because the coin was trading sideways for hours. It didn't reach a relevant support and suddenly bounce up, nor did it reach a relevant resistence and bounce down. If you want to see a text-book "support -> bounce" just look up the fall to 6K recently. If you wanna see a text-book "resistence -> bounce" just look up the 20k ATH.
Trade carefully, don't get whaletrapped.
Whales are weak in a bullmarket and very strong in a bear market.
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