Fake dump

[XinXan]

So we basically just had a fake dump, also called fakeout for bitcoin. The bulls definitely bought the dip this time even though it wasn't too big, currently trading at 6400$ perhaps we are able to climb back to 6600$

[1715082317]

1715082317

[1715082317]

1715082317

[1715082317]

1715082317

[1715082317]

1715082317

[1715082317]

1715082317

[1715082317]

1715082317

[Rasa nanas]

the last few days I saw the price of bitcoin is quite stable, but yesterday the price of bitcoin has declined and now the price of bitcoin is stable at $ 6300. I don't see this fake dump, but this dump is caused by investors who feel frustrated with the current market conditions.

[XinXan]

the last few days I saw the price of bitcoin is quite stable, but yesterday the price of bitcoin has declined and now the price of bitcoin is stable at $ 6300. I don't see this fake dump, but this dump is caused by investors who feel frustrated with the current market conditions.

Dude, shut up, you just typed a bunch of non sense, refrain from posting on my threads again, thanks. Bitcoin breached the 6314$ support area today and went down 100$ but recovered almost instantly and reached 6400$

[1Referee]

So we basically just had a fake dump, also called fakeout for bitcoin. The bulls definitely bought the dip this time even though it wasn't too big, currently trading at 6400$ perhaps we are able to climb back to 6600$

It could very well have been someone genuinely trying to sell some coins. That sale might have triggered some bots to follow and to unload some coins as well. Bots don't know whether or not someone is genuinely trying to sell coins or that it is a manipulation attempt, they just follow what's being presented to them and react as how they are programmed to react.

The lack of volatility makes $50-$100 movements look like huge candles, but they are peanuts in reality. We're still below $6400 which seemed to be main support level this month with how stable it was around that price. I think the only positive aspect of that tiny bit of action today was the slight increase in volume for exchanges.

[imapessimist]

Nobody should buy the dip at the moment I'd say.  too uncertain.  But folk must make their own choices I suppose. 

[exstasie]

So we basically just had a fake dump, also called fakeout for bitcoin. The bulls definitely bought the dip this time even though it wasn't too big, currently trading at 6400$ perhaps we are able to climb back to 6600$

It depends if bulls follow through on that 4-hour candle close. We're threatening a dragonfly doji (reversal bar) on the daily chart too. But we still have to wait and see. It could just end as a stop run in both directions. There hasn't been a legitimate breakout yet to confirm the dump was a fakeout.

[hugeblack]

We can say that the price turned to a "bearish zone" after the support rally at 6390.
The price has stabilized. Therefore, the move of $ 100 may control the market sentiment for several days. After the rate dropped to less than $ 6,300, it is unlikely to rise in the coming days, but maintain the level at 6350. And the bottom at 6100.
So what happened was not a "Fake dump."

[davis196]

So we basically just had a fake dump, also called fakeout for bitcoin. The bulls definitely bought the dip this time even though it wasn't too big, currently trading at 6400$ perhaps we are able to climb back to 6600$

This is not a fake or a real dump.It's just normal price volatility.
OP,do you track the bitcoin price every half hour?I wouldn't bother,if the bitcoin price goes down to 6200 USD
and then increases back to 6400 USD.It's not a big deal.If you track the bitcoin price movements every minute,you will get crazy.

[pooya87]

stability doesn't just bring boredom to holders and the loudmouths on forums
it mainly brings boredom to day traders who stop seeing their buy and sell orders filled every day so they start getting anxious about the market. when there is a whale having this boredom they will try to artificially induce volatility in the market. and those big red candles are the result of that.

[snipie]

OP,do you track the bitcoin price every half hour?

It looks like this  
I took a close look some times ago at the price and i found it goes low in the morning (considering GMT time) then it goes high at the afternoon. Indeed it is just volatility.

[adaseb]

What was very strange about the last dump, basically the one that went from $6400 to $6200 and now is around $6300. Is that the open interest actually increased right after that dump.

Not while it dumped since there was liquidations but shortly after during the bounce the OI reached an ATH pretty much on Bitmex. And we are still at a very high OI on Bitmex.

Normally when a dump like that happens the OI is decreased and stays lower until the next stop hunt.

Also the funding rate was positive right away which means the contracts opened was more scaled to the longs than shorts. So basically the dip was completely bought up.

[frchowe214]

Yesterday was a special day so it is possibe that someone tried to take advantage of that situation when people were celebrating bitcoin. Some one might have tried to trigger a dump with a buyback in mind

[slocker]

I dont know why this could be a issue or problem. We had something like this in past so price duping and going back for 100-200 dollars or euros in price is nothing comparing to big ones that are with 4 digits.

Also found some interesting article that can be connected with this price drop and may be the reason for it. Here is the link https://smartereum.com/5636/the-real-reason-behind-bitcoins-price-crash-revealed-wed-oct-31/

[Pursuer]

looking at the charts. the size of what you are calling "dump" has been pretty small. it was a small price drop and also the volume of it has been small. which means you can't exactly call this a "dump". I suppose a dump in a sense that you have in mind which has (in the past) led to a follow up rise, is bigger and will bring the price below the buy support line to test the readiness of the market while getting some low bid orders of the whales filled up with the newbie panic seller's bitcoins at cheaper prices.

[sorrysteve1]

The whales seem to be losing their powers of manipulation, with the price only moving a few hundred dollars at most in one direction or the other. It only further supports the conclusion that a big movement is coming soon in one direction or the other. After all of the suffering in the market throughout 2019 I'm growing each day in optimism for 2019.

[Cacingkemi]

Looking at some of the fake dump angles that you say seems right,looking at the BTC chart also has a few fake dumps imo this is not a fake but on a small scale.Dump words are identical to the very drastic drop to hit the spot at the specified point,like a group of people managed to hit it and come back again but this can also be said to be a correction show the graph to everyone The market situation is very complicated lately.

[slaman29]

What's the difference between fake and genuine? When you didn't expect it or there doesn't seem to be a reason, then it's fake? And when it reached your predictions and had all the reasons, it's real?

And fake or real, what's the effect? The market still moves, price still climbs or falls. What's the point in identifying fake or real dumps and pumps? Price duping? You guys should just get on with the game and play it by the lack of rules.

[BitHodler]

What's the difference between fake and genuine? When you didn't expect it or there doesn't seem to be a reason, then it's fake? And when it reached your predictions and had all the reasons, it's real?

It seems that some people don't think there are actual sellers around current levels because of how it is believed to be "very low". In that sense, the dumps have to be related to manipulation, because what 'normal' person sells right now? 

The reality is that there are enough longer term hodlers out here with sub $1000 coins looking at $6000 as a pretty decent exit point in case they need the funds. It's a free market in the end, so people can do whatever they want.

If the crypto market is indeed ruled by manipulation as people believe it is, can we still call it manipulation if most participants apply the same type of trading strategies? It evens out the playing field in my book.

[tokeweed]

What was fake about the latest mini dump?  What if it's just some long time holder selling some of his stash cos he thinks buying a sick mansion in Monaco is a better investment? 

[YuginKadoya]

What was fake about the latest mini dump?  What if it's just some long time holder selling some of his stash cos he thinks buying a sick mansion in Monaco is a better investment? 

Or a holiday season spender, We should consider if the value would fall it is not always a dump by whales or another common group of holders that could manipulate a small dip it can be anything, And right now we are in a brink of entering the holiday season expect more dips to come but for the meantime I really want to see bitcoin reaching the $6500 mark or $6700 value trading without much movement is getting more boing at the moment.