It's too early to call this a "recovery". It could be the first dead cat bounce in a multi-week downtrend.
U aren't a
blinkered bull-tard TERA like most on here.
Go look at the 1 minute chart at three massive purchases that devoured an Ask wall chasing rapidly after the spot price. Believe me when I tell you these purchases came out of knowhere. One minute I had my short stop loss sitting a couple of cents above break even point ($785), with 350 Ask bids between me and spot price, then with an instant, my stop loss fell to within 10 BTC of Asks of the spot price. I shifted it back to $790 where there were a further 300 Ask bids, but these guys meant business. Seeing the forces at work I admitted defeat and took the hit.
Had it not been for these
monster flash BTC purchases, that came out of knowhere and were not replicated on any other exchange, we would have already have had our dead cat bounce and we would have shot down past $765 support. Since the China selling pressure obviously fucked up the
Price Holding Bot algorithms, this was a clear case of emergency price support action. No ifs or buts about it.
It remains to be seen whether this
entity can hold up Bitcoin in the face of a mass Chinese sell-off, but every indication that I get from absolutel fkn hours spent focusing on these charts and the market action, I would suggest that a very determined attempt is being made.
Can I ask, is anyone able to buy Bitcoins without being accused of being an algorithm-monster price-holding crash-delaying party-pooper?
Fkn sharks in these waters and I dont like it one little bit and I wouldn't be surprised if it all culminates in a whole lot of people getting royally fkd up the arse.
Beginning with yourself of course!
Sorry, couldn't resist!
Sorry T.Stuart, I already made $1200 from my short sell. Lost $150 on second short sell, though but still not bad for a nights work.
I know. Congratulations! But like I said, I couldn't resist! It's the wonderful vocabulary you use.