Bitcoin Forum

https://www.coindesk.com/magic-number-chart-data-hints-at-june-6-bitcoin-boost/

https://www.tradingview.com/chart/qKNmlgPW/

I've seen this popping up increasingly.

The price goes from 6th to 5th of the following month. It reverses from 6th to 5th of next month and then reverses again. This has now been ongoing for several months and fits rather nearly with CBOE futures closing dates.

Is this gluing a pattern where one doesn't belong or is it all someone's bitch at least for a while?

This is one hell of a trend analysis that is hard to ignore because the price has been witnessing some increase since the day break which might confirms that uniqueness that surrounds on the 6th. On looking at the graph though the high point was established but not the point at which price started going down and this is equally important because that point is also key to know when its the right time to exit the market which makes the analysis to be passed as coincidence.

The unique thing about crypto market is that whenever a trend has been established and made know to the public just like the above, it tends not to obey the law again which means anyone relying on this to make decision is probably doing so at his own risk solely.

Whoever this market force is, I'm sure as hell that he really is the incarnate of the devil, lol. Kidding aside, it seems that the ongoing pattern is present for months now, and if it is indeed an established pattern every 6th of the month, it would be too obvious and traders would know how to trade accordingly. We'll be seeing that in a few hours time and according to the pattern, we're in for some nice gains later but apparently, nothing is happening as of yet. Whatever the move is, it's great to see that we're closing the gap and slowly recovering from the horrors of Dec. 23 and Feb 6. It's too soon to call a bullish run up ahead since bitcoin always defies what most analysts see.

We definitely need a longer term pattern to really see if there is any correlation with the future markets, but it wouldn't really surprise me. If we look at how empty the market has been in the last months, then it's safe to say that the average nutters just stick to holding instead of trading. If you take away the unpredictability of the average nutters, the market is free for you to manipulate in every direction without any effort.

There is so much secondary market activity, that just by bumping the price up or down you can have your leveraged trades on various platforms pay out big time. Even if your spot market trades make you lose out due to this manipulation, your secondary market profits will make up for it. It's practically impossible for whales to lose in a market lacking serious liquidity.

The man you describe is for sure Soros. The evil in person. And I bet he is manipulating the market already.

I've always said that we are in a tightening pattern on the weekly charts and I'm fairly confident that it's going to break around July, I don't know yet if it's going to be a bear break or a bull break but it's a very clear pattern to be watching.

That's funny. A friend of mine showed me a chart a few days ago pointing out this cycle, around the 5th/6th of each month: https://s3.amazonaws.com/tradingview/snapshots/w/wTqITBgp.png

I wouldn't put much emphasis on it. After major trends, price tends to reverberate much like a sine wave. Basically, they're just one more indication to follow the trend, once it's apparent. These time cycles develop much like Fibonacci retracements. The pattern will probably continue.......until it doesn't, at which point you need to switch gears and follow the trend.

I heard that news just a few days ago and I was surprised to see the price of bitcoin increasing even in this month on the date of 6th. That is a good factor for the traders and now every trader came to know about that and now each 6th date will be a hotter date for the traders. With the passage of time 6th date will be the date for bigger hypes of the price of bitcoin.

And the fact that everyone is talking about this pattern makes it useless, it happens everytime like the crypto consensus. If everybody is catching on these patterns, they stop working