We are all trying to understand, to read the tea leaves of what is actually happening right before our eyes. Unfortunately, that which we are seeing is the display. What generates the display seems a bit obfuscated.
TA definitely has its application here. There is psychology also – all of us, all the market. But the baddest motherfuckers currently lurking at the watering hole seem to be deeply cloaked in shadow, and we seem to be skittering this way and that, trying to not get caught underfoot.
So.
I propose a grand theory thread. Here is my shot in the dark.
Some thirty odd days ago, the large actors ( Those who will securitize / profit massively from BTC) understood two existential imperatives lay before them:
1) Manage an orderly exit of China, one that would not spook the ‘mainstream’ prospective investor base.
2) Buy up the china coins in an orderly way as they were dumped into the market, preserving a base level price that would be A) credible to potential fund investors and B) consistantly and conveniently far beneath their near term target valuation of BTC, thus handsomely fleshing out their position.
Enter the bot army. We have been watching the algorithm that is the expression of the above, a cool steady pinging of a controlled transfer of wealth.
And like the limiting bars of sheet music, the channel is laid. A market that clearly wants to correct / crash does not. Rallies that might rise from the ashes do not.
All hail the overlords.
Alternate theories fire away!!
Interesting theory. I agree with it more than not.
Clearly btc is manipulated, patterns and walls are the indicators. They make money on the spikes and dips all while accumulating more coin and controlling it's descent. The question is how low are they going to take this?... I was of firm belief that we would not see $500 again. Now it's a different story and for a few reasons I wouldn't be surprised to see $225 +/-$25.
