Bots manipulating BTC
Updated
Hi, guys.
I’d like to show you why to avoid trading at this moment if you don’t want to get rekt.
As you can see, RSI, Stoch, and price were trying to go down in what it was going to be a massive sell off. Instead, these indicators went crazy and turned up. Is it real? The answer is NO. Humans don’t do it. A normal uptrend should be starting little by little, since doubts make people get in slowly when they see any movement. The process would be like: first, some people buy, then, some more people buy, then more, and more, and more, and create what we know as FOMO (Fear of missing out).
This pump is totally artificial. It appears from nowhere while it was going down, and in a 90 degree angle. Why? Because when any signal triggers the bot, it suddenly starts buying a lot of BTC to create like a wall so people think it is going up very quickly. It makes us think the bottom has been reached and buy BTC. But when you think it’s going up... kboooom! The process is finished, the bot takes the profits and everyone starts panic selling.
So guys, if you don’t wanna lose money every time it pumps that way, don’t get in, seriously.
It’s just an idea. I’m not responsible of your actions.
Have a good time and be cautious. ;)
I’d like to show you why to avoid trading at this moment if you don’t want to get rekt.
As you can see, RSI, Stoch, and price were trying to go down in what it was going to be a massive sell off. Instead, these indicators went crazy and turned up. Is it real? The answer is NO. Humans don’t do it. A normal uptrend should be starting little by little, since doubts make people get in slowly when they see any movement. The process would be like: first, some people buy, then, some more people buy, then more, and more, and more, and create what we know as FOMO (Fear of missing out).
This pump is totally artificial. It appears from nowhere while it was going down, and in a 90 degree angle. Why? Because when any signal triggers the bot, it suddenly starts buying a lot of BTC to create like a wall so people think it is going up very quickly. It makes us think the bottom has been reached and buy BTC. But when you think it’s going up... kboooom! The process is finished, the bot takes the profits and everyone starts panic selling.
So guys, if you don’t wanna lose money every time it pumps that way, don’t get in, seriously.
It’s just an idea. I’m not responsible of your actions.
Have a good time and be cautious. ;)
Note
I didn’t remember to tell you about the volume. In higher timeframes there’s no volume at all, and suddenly, it spikes. It’s another indicator of bots pumping it artificially. This is not only my opinion, since I’ve also seen this idea in YouTube by professional traders.Note
My idea is still valid although this manipulated pump has taken place. News from professionals say we have to prepare for BTC to go under 5000 dollars.
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