BTC is it being manipulated? BITSEVEN EXCHANGE THEFTS!!
Updated
I think exchanges like BITSEVEN are manipulating the market in order to eat leveraged buys and sells placed on their exchange. The cloud here clearly shows manipulation of the markets. We were in a clear downtrend until too many shorts were placed then suddenly 25 billion enters the market and surprise they force the market up to close out leveraged sell orders that auto sell @ 70-85% loss! Now we will see a correction from manipulation. My personal opinion is that we are actually in an uptrend for a couple of weeks but again due to exchanges like BITSEVEN they crash the market to kill leveraged buys. When you make a leveraged buy at 100X you will auto sell .7% loss in price. When safety buys are in place these are to protect the trader in order to lower the leverage or increase their position; which should equally lower the auto loss sell. The exchange uses A.I. To calculate how much and how fast to move the market and when to basically eat leveraged buys and sells. It’s a game of PAC MAN for them so my final opinion is we will see correction to the low 6000’s then once enough shorts are on the books the SHARKS will drive it up again. Each time this is done they lose support so ultimately we are still up trending. Hold with no leverage or extremely small shorts. Only place leverage buys going up with an auto loss of no less than 6100 or 5000. I dont doubt they could drive it down easily to 5700 but it will be when it suits their need! PAC MAN and your money is the pellets! This is my opinion and not to be taken as any kind of advise! Investing is risky! Don’t use crooked exchanges like BITSEVEN that offer leveraged trades with no control over your stop losses and group your buys and sells all together as one average price! This is not to your advantage! Each buy and sell should be individually managed!
Note
That being said BTC will go up eventually but the Sharks like BITSEVEN exchange will do whatever to steal your money so HODLing is a great idea and only buy the dips! That’s my plan! ALT are great timing as well! Basically its crazy because the price action is controlled mostly by unregulated crap and its still a jungle here so watc out it could go either way at any minute! This is not advise and all just my opinion!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.