I believe the sudden unexplicable buying / selling throughout today has been caused by people battling to change the colour, range and fill of the candle on todays daily chart.
They're trying to change it to suit their own agenda.
There appears to have been some frenzied action late yesterday as well but I wan't watching.
The opening price today as reported on the Clark Moody website is $68.49.
Earlier today we saw a series of unexpected huge purchases right off the order books raising the price in total by more than $20 to a high of $98.77799, then it stopped.
Next various ask walls popped up, the largest of which is on $70, right now someone wants to purchase 22529 Bitcoins at $70.xx
Why is that ? I suspect it's solely to protect the closing price, if it closes lower than the opening then it's a red candle.
So in conclusion I'd suggest that the madness today has been a battle between the people who want the candle to be red and those who want it to be green.
A forced green candle at this stage isn't going to be a good thing, whoever's doing this has spent a lot of money and I have no doubt that there's little atruism in their intent.
My prediction : this is a large scale bull trap being laid out before us.
Maybe I'm wrong but that's the way it looks to me.
They're trying to change it to suit their own agenda.
There appears to have been some frenzied action late yesterday as well but I wan't watching.
The opening price today as reported on the Clark Moody website is $68.49.
Earlier today we saw a series of unexpected huge purchases right off the order books raising the price in total by more than $20 to a high of $98.77799, then it stopped.
Next various ask walls popped up, the largest of which is on $70, right now someone wants to purchase 22529 Bitcoins at $70.xx
Why is that ? I suspect it's solely to protect the closing price, if it closes lower than the opening then it's a red candle.
So in conclusion I'd suggest that the madness today has been a battle between the people who want the candle to be red and those who want it to be green.
A forced green candle at this stage isn't going to be a good thing, whoever's doing this has spent a lot of money and I have no doubt that there's little atruism in their intent.
My prediction : this is a large scale bull trap being laid out before us.
Maybe I'm wrong but that's the way it looks to me.
So when the market goes down $40 in a day it is a "correction", but when it goes up $25 in a day it is inexplicable?
The real truth is easy: there are more people who want BTC and think the price will go up than those who think it will go down.
