its not the entire market.. you need to learn a few things.. such as "whale walls" aka unnatural temporary resistance/support.. which cause a large lump of temporary (ghost) walls to stop prices going up too high(resistance) or down too low(support) and thus changing the sentiment of the market and other traders
its also worth noting some other notions that interplay and are related
understand several notions:
you do know that people trade with bots right - true fact
you do know that when the pattern breaks the bots dont know what to do next right
another notion:
you do know that if you watched the last 4 years you can see the symbiosis between what happens on the futures contracts cause whales to then tinker with the spot market to ensure their futures contracts complete at X(you see periods of market stagnation with unnatural flat periods 2022 was prime example of that)
another notion:
did you know that if you calculate the mining costs of different regions of the planet.. that 2021-22 had floor and ceiling of $15k-$75k which the market TESTED
another notion:
did you know this year the floor - ceiling of mining costs is actually $25k-$140k
yet the market is not testing new bottoms or tops but being controlled in the middle with actual resistance/support WALL which correlate to a mass of future contracts that want to complete at X
when you see that the market doesnt want to rush to $80k even if there are people that have mining costs (if they mined) at $130k plus, so would happily be buyers $75k-$130k, yet you notice the main whale resistance WALL pile up, which goes against the natural flows
another notion:
when markets move naturally then sudden drop, usually thats a whale wall causing the drop to get the price to stay below a level.
when they relax their resistance walls you see prices naturally climb
..
now put all these notions together with an emphasis on whales day-trading with bots.. and realise they dont like the unknown. they like to be in control to snipe daily-weekly-monthly profits.. they are not in the buy to hoard game when day trading. so they want to keep their bots actively sniping small percentages regularly on spot and getting their larger profits from futures.
..
heres some other observations to notice:
did you know you can identify when a bunch of whales stepped in to control the market with walls..
.. when these resistance walls appear massively and move away to either create floors or roofs.. if other minnows,shrimp still bite on a whale. the whale arbritrages their filled order via the other trading pairs of ETH
BTC->USD -> USD->ETH -> ETH->BTC (when their sell wall (resistance) gets bit)
USD->BTC -> BTC->ETH -> ETH->USD (when their buy wall (support) gets bit)
look where the natural flows of BTC-ETH change(straighter unnatural(controlled) line)
they do this to do a round-trip(arbitrage via eth) to get back to holding coin if a shrimp filled their coin order of a resistance sell wall, so they can get back to having coin again to keep a sell(resistance) wall visibly there
they do this to do a round-trip(arbitrage via eth) to get back to holding USD if a shrimp filled their USD order of a support buy wall, so they can get back to having USD again to keep a buy(support) wall visibly there