Fake dump | Bitcointalksearch.org

creeps

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Quote from: cellard on November 14, 2018, 11:51:21 AM

There are 2 reasons I can imagine this happened:

1) Future contracts expiration. It's usually used as an excuse to dump on the market and try to buy the dip after it triggers noobs into panic selling
2) Bcash fork: A lot of noobs are reading news and watching youtube videos of Craig Faketoshi Wright taking over BCash then taking over BTC. Tomorrow is the day this circus clown will ensue.

But generally, you don't have to look beyond the fact that Bitcoin is valued in infinite ponzi fiat currency and they manipulate it to pick as much BTC as possible away from noobs until 2030 when they default on the infinite fiat debt and BTC becomes world unit of account.

Manipulators will always win in this market not unless someone stop them lierally I think, they know how to play well with the hodlers and most especially with the newbies.

Its actually not a fake dump but its more on manipulating the price so they can really dump the price and buy more at the dip.

Many situation like this before and whales are on the move again. Let’s just continue to ride with them and don’t let their win easily. To the beginners, you need to improve your skills, knowledge and your emotion so you will not lose big money when whales manipulating the market.

Rune

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What is a Fake dump? Seems like a real dump to me billions leaving crypto all at one time this is very bad for people holding crypto and no fiat at all time to hodl I guess.
Maybe ill dump some to and try to buy lower lol this whole tether thing scares me I am uneasy

pixie85

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Quote from: allohm on November 14, 2018, 03:06:44 PM

Quote from: cellard on November 14, 2018, 11:51:21 AM

There are 2 reasons I can imagine this happened:

1) Future contracts expiration. It's usually used as an excuse to dump on the market and try to buy the dip after it triggers noobs into panic selling
2) Bcash fork: A lot of noobs are reading news and watching youtube videos of Craig Faketoshi Wright taking over BCash then taking over BTC. Tomorrow is the day this circus clown will ensue.

But generally, you don't have to look beyond the fact that Bitcoin is valued in infinite ponzi fiat currency and they manipulate it to pick as much BTC as possible away from noobs until 2030 when they default on the infinite fiat debt and BTC becomes world unit of account.

i think this https://www.ccn.com/tokens-continue-to-take-a-hit-is-sec-preparing-to-target-crypto-projects/article sheds some dim light on what is going on...the selling pressure is relentless and orchestrated. certainly it is not bch drama, too ridiculous a reason. however if sec is very very close to "having talks" with some exchanges (and thus insiders may be dumping using bch as a curtain) than we may be one step closer to the death of the centralized exchanges in the form we know them. i would appreciate your thoughts.

Are there really any decentralized exchanges? If you're talking about P2P exchanges or localbitcoins then maybe, but all biggest exchanges like coinbase, bitfinex and the rest are centralized. If you send your coins to them, you put them in control. If they decide that your coins were used to commit a crime at some point they'll be able to block them and force you to explain where you got them from. It's a great example of government intervention and centralization.

3la9l_kolbaCa

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Quote from: STT on November 14, 2018, 03:38:42 PM

Nothing is fake if the price is trading at that price over some reasonable amount of time and its been enough now to form a full 4hr bar so I think thats real enough to count.

As far as it holding, I'm looking at a year ago and this price was near to the bottom on 12th Nov. Theres alot of pricing in this area for it to catch on rather then move simply up or down

I agree this is not fake, and the graph trend showed very concrete price movements and I think that's an effect of the panic. That's clearly stating a huge amount of dumps, and if there we're people who speculate about fake dumps then we will have to observe if the $5.5k will have to recover quickly before December ends.

STT

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Nothing is fake if the price is trading at that price over some reasonable amount of time and its been enough now to form a full 4hr bar so I think thats real enough to count.

As far as it holding, I'm looking at a year ago and this price was near to the bottom on 12th Nov. Theres alot of pricing in this area for it to catch on rather then move simply up or down

allohm

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Quote from: cellard on November 14, 2018, 11:51:21 AM

There are 2 reasons I can imagine this happened:

1) Future contracts expiration. It's usually used as an excuse to dump on the market and try to buy the dip after it triggers noobs into panic selling
2) Bcash fork: A lot of noobs are reading news and watching youtube videos of Craig Faketoshi Wright taking over BCash then taking over BTC. Tomorrow is the day this circus clown will ensue.

But generally, you don't have to look beyond the fact that Bitcoin is valued in infinite ponzi fiat currency and they manipulate it to pick as much BTC as possible away from noobs until 2030 when they default on the infinite fiat debt and BTC becomes world unit of account.

i think this https://www.ccn.com/tokens-continue-to-take-a-hit-is-sec-preparing-to-target-crypto-projects/article sheds some dim light on what is going on...the selling pressure is relentless and orchestrated. certainly it is not bch drama, too ridiculous a reason. however if sec is very very close to "having talks" with some exchanges (and thus insiders may be dumping using bch as a curtain) than we may be one step closer to the death of the centralized exchanges in the form we know them. i would appreciate your thoughts.

cellard

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There are 2 reasons I can imagine this happened:

1) Future contracts expiration. It's usually used as an excuse to dump on the market and try to buy the dip after it triggers noobs into panic selling
2) Bcash fork: A lot of noobs are reading news and watching youtube videos of Craig Faketoshi Wright taking over BCash then taking over BTC. Tomorrow is the day this circus clown will ensue.

But generally, you don't have to look beyond the fact that Bitcoin is valued in infinite ponzi fiat currency and they manipulate it to pick as much BTC as possible away from noobs until 2030 when they default on the infinite fiat debt and BTC becomes world unit of account.

batang_bitcoin

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Quote from: Idrisu on November 13, 2018, 06:23:45 AM

I think we all know that the bearish trend is over

How did we ended up with the bearish? we are still with it.

Quote from: Slow death on November 09, 2018, 04:37:58 PM

for this year I doubt that we see more than $7500

No positive movement at all and the only movement that we see right now is it is going backwards. I already accepted that the price wouldn't end higher than $8000 and if it will reach $7,000 by December than I'm ever grateful with that at least its higher than what it is now.

BitHodler

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Quote from: Idrisu on November 13, 2018, 06:23:45 AM

I think we all know that the bearish trend is over

How are you so sure? It's not over until we actually break through at least the more recent lower highs, because there simply isn't anything that guarantees that the price won't be going down further in the coming months.

I am a bit more conservative when it comes to the bear market. $10,000 is for me the level to break in order to signal that the market has actually turned bullish, because that level is psychologically extremely important for the sentiment.

I expect the market to slowly pick up pace in the second half of 2019 with how the speculation around the block halving is going to be the price driver, which has been the only event consistently driving the price up throughout the last years.

Idrisu

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Quote from: XinXan on October 31, 2018, 11:32:55 AM

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$

I think we all know that the bearish trend is over but when the bull run is going to commence is what we did not know. The ranging market has last for more than two months now and that means a breakout is expected out of the current market conditions. If we are to trade this year I think buying should be the best options.

Herbert2020

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Quote from: Slow death on November 09, 2018, 04:37:58 PM

Quote from: XinXan on October 31, 2018, 11:32:55 AM

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$

How many days have passed since your post? humm... if they spent more than 7 days and see the price:

Bitcoin: $6 385,96 USD

it seems that the price is stagnant and does not increase, for this year I doubt that we see more than $7500, is more likely to fall price instead of increasing price, this was a very bad year for crypto and the losses are still very high . I started to see negative comments coming from the experts who made so much optimistic predictions

the loss is only high for bag holder newbies not for traders and certainly not for investors.

a bag holder is someone who has no idea what he buys, they usually fill their bags with a lot of shitcoins and start dreaming about becoming a millionaire while they lose about 90% of their investment.
a trader is someone who is still making profit specially when price drops!
an investor is someone who buys things after analyzing and with a well thought plan. for example someone who buys bitcoin because he sees the potential and he does it when the hype is not high (meaning below $4k last year) and he doesn't care about the short term fluctuations.

now the problem is we have lots of bag holders who think they are traders or investors which is why you see losses are high!

as for "experts", they are not giving you advice, they are making money by making those statements. if they say rise that means they want to sell and when they sell drop that means they want to buy.

XinXan

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Quote from: Slow death on November 09, 2018, 04:37:58 PM

Quote from: XinXan on October 31, 2018, 11:32:55 AM

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$

How many days have passed since your post? humm... if they spent more than 7 days and see the price:

Bitcoin: $6 385,96 USD

it seems that the price is stagnant and does not increase, for this year I doubt that we see more than $7500, is more likely to fall price instead of increasing price, this was a very bad year for crypto and the losses are still very high . I started to see negative comments coming from the experts who made so much optimistic predictions

''is more likely to fall price instead of increasing price'' Is it? How did you come to that conclusion? ''Experts'' are doing the same as usual, some of the predicting bitcoin to go down and some saying bitcoin will reach 50k.

The overall sentiment isn't that bad. Low volatility isn't necessarily a bad thing, a lot of people were looking for it, weren't they? Check the shorts on Bitfinex, they are declining everyday which means bears aren't very confident anymore.

Slow death

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Quote from: XinXan on October 31, 2018, 11:32:55 AM

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$

How many days have passed since your post? humm... if they spent more than 7 days and see the price:

Bitcoin: $6 385,96 USD

it seems that the price is stagnant and does not increase, for this year I doubt that we see more than $7500, is more likely to fall price instead of increasing price, this was a very bad year for crypto and the losses are still very high . I started to see negative comments coming from the experts who made so much optimistic predictions

Hamphser

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Quote from: XinXan on October 31, 2018, 11:32:55 AM

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$

I didnt see any dumps on bitcoin price yet when we do talk about dump then this is somehow a deep percentage loss on a short period of time then eventually pump or return to normal range.
$200-$300 increase or decrease isnt really too much when we do talk about the price of bitcoin. Lots of upcoming positive news and such movement might possible a start-up of a new run.

XinXan

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Quote from: Herbert2020 on November 09, 2018, 02:46:10 AM

people need to start getting a better understanding of "size"! and it depends on the context. when you say $100 that can be huge rise or fall when price is like $200 but when price is $6500 that $100 rise or fall is considered a small one and since this is bitcoin and the price rise and falls are always bigger than normal changes in other markets, that $100 (which is 1%) is considered extremely tiny and is not even worth talking about!
not to mention that this price that OP got excited about a couple of weeks ago is not even to a major resistance line. not even close!

You should start paying attention to volatility then, sure 100$ is not a lot, however when bitcoin is barely moving 50$ up or down for weeks, a 100$ move in 1 hour or so is significant.

colenax

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Quote from: XinXan on October 31, 2018, 11:32:55 AM

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$

I see bitcoin having a stable price at 6k $, going up a bit then going down again.
almost as you say
because of this the market will not find pumping that occurred at the end of this year.

bileq

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all of crypto peoples need that move or breaking news. all of us need that hope. may be this will cause it to real

Herbert2020

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people need to start getting a better understanding of "size"! and it depends on the context. when you say $100 that can be huge rise or fall when price is like $200 but when price is $6500 that $100 rise or fall is considered a small one and since this is bitcoin and the price rise and falls are always bigger than normal changes in other markets, that $100 (which is 1%) is considered extremely tiny and is not even worth talking about!
not to mention that this price that OP got excited about a couple of weeks ago is not even to a major resistance line. not even close!

stelee68

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Quote from: marcbitcoins on November 09, 2018, 01:05:48 AM

Quote from: XinXan on October 31, 2018, 11:32:55 AM

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$

You mean most likely manipulated by the big whales? I think current price is just a normal market price movement as i don't see any extraordinary jump or dump but except when bitcoin reach $7,200 last month in just a day but its suddenly back to $6,600 again but still the fall was maybe due to some are eager to sell their Bitcoin as soon as it will reach $7,000 mark and still a normal thing.

fake or true dump, true or fake pump, its all part and parcel of the market.

be it stock market or crypto or forex, its all part of the game.

tread carefully.

marcbitcoins

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Quote from: XinXan on October 31, 2018, 11:32:55 AM

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$

You mean most likely manipulated by the big whales? I think current price is just a normal market price movement as i don't see any extraordinary jump or dump but except when bitcoin reach $7,200 last month in just a day but its suddenly back to $6,600 again but still the fall was maybe due to some are eager to sell their Bitcoin as soon as it will reach $7,000 mark and still a normal thing.

davinchi

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Quote from: hugeblack on October 31, 2018, 10:52:04 PM

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."

Not a fake dump at all. We all know that this current market is getting to the apex and it has been a fight all along between the bulls and the bears and as a result of that, we have been seeing the market moving sideways.

The bears are still in the market, and it is obvious with the level of indecision currently in the market, the bears still keep trying to want to dump, but the bulls are still strong enough to keep fighting back, so at some point, someone would get weak between these two groups and that is when we will possibly be seeing the breakout happen eventually.

darewaller

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This is not a "pump". Pump is when something goes up and goes down insanely. Bitcoin should go to 15 thousand dollars and drop back to 5 thousand dollars in order to call it a "pump".

What happened here is a speculative movement that was manipulated by the whales but certainly not even remotely enough to be called pump. They are only viable when something goes up or down 20% give or take.

Do not create fear in people by calling bitcoin had a pump, bitcoin is too big to have a pump. Even during the best days of it when it went up from 3 thousand to 20 thousand dollars it took almost a full month to reach there, we didn't had that 20 thousand dollars in a single day. However the sudden quick rises and falls in bitcoin price really does create a untrustworthy look for it from the eyes of a traditional investor, I will give you that.

BitHodler

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Quote from: cellard on November 01, 2018, 09:30:48 PM

Indeed, there's a lot of sub $1000 hodlers out there, however the lowest you go the entry points, the higher chances that they will not sell because the lowest the entry point, the highest IQ and therefore understanding of what money is, concepts like hard money, understanding of the risk of holding ponzi fiat scheme currencies contrary to bitcoin, understanding of up and coming bond market collapse and so on. So it's mostly all the crypto kids of class of 2017 that panic sell. Holders before MtGox collapse have been through hell and back and will not find flaws on the fundamentals to sell. Also usually they most likely were very well off before Bitcoin/already sold enough to not need to reduce their BTC position.

When people need money they don't look at anything related to the fundamentals or why Bitcoin is better money than fiat. Bills and most goods are still paid in fiat, which is why OGs will keep selling.

Another thing is that not everyone cares Bitcoin like we here do. I'm sure that most investors are pretty neutral and just look to ride the market as it comes. They will sell without feeling anything other than relief.

I actually would prefer OGs to be unloading some of their coins, because that makes sure their coins are bought up at much higher levels, and it results in a better form of wealth distribution.

Instead of 1 person hodling thousands of coins, we'll see these coins flow in the pockets of potentially hundreds of hodlers.

cluit

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Quote from: XinXan on October 31, 2018, 11:32:55 AM

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$

At this point, whether a dump or a pump is fake or not, only time will actually tell, but at this point, the fact remains that nothing is actually clear yet.

Yes, there is no doubt that the long wicks on the way down pretty much shows that a whale is really trying as much as possible to keep buying the dips, and in that case, there is still every chance and opportunity that we may still be inside this triangle for some few days as the bears are still trying to make something out of it as well. However, things turn out; I guess we will be seeing that breakout we have been expecting pretty soon. All I am actually seeing more of here is bots at work.

cellard

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Quote from: BitHodler on November 01, 2018, 08:51:27 AM

Quote from: slaman29 on November 01, 2018, 07:01:23 AM

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? Cheesy

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.

Indeed, there's a lot of sub $1000 hodlers out there, however the lowest you go the entry points, the higher chances that they will not sell because the lowest the entry point, the highest IQ and therefore understanding of what money is, concepts like hard money, understanding of the risk of holding ponzi fiat scheme currencies contrary to bitcoin, understanding of up and coming bond market collapse and so on. So it's mostly all the crypto kids of class of 2017 that panic sell. Holders before MtGox collapse have been through hell and back and will not find flaws on the fundamentals to sell. Also usually they most likely were very well off before Bitcoin/already sold enough to not need to reduce their BTC position.

exstasie

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Quote from: adaseb on November 01, 2018, 01:33:07 AM

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.

Thanks for pointing that out. I often forget to look at Bitmex positions and just look at Bitfinex. On Bitfinex, shorts were definitely closing into the dump. Shorts are down ~3,500 BTC since that day. Longs are rising as well. Open interest is way down from last month though. I'm not sure what to make of that.

STT

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Quote from: imapessimist on October 31, 2018, 05:12:02 PM

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

There is no perfect point, I would just say be aware of where the rough boundaries are to price movement. So this is my current view of the pricing and previous trends extrapolated:

The blue line is 8 day moving average and I think we are into a positive trend when we trade above that price, about 6350. Clearly there is support below even if the dip took us lower it was not especially substantial in that regard.

arpon11

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Quote from: XinXan on October 31, 2018, 11:32:55 AM

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$

The bear has no capacity to makes a huge move again and bull are preparing to move the market upward. I think we should buy now and I joined op to say bitcoin is heading toward $6600. The little corrections we just have is a sign that the bear thought it can still make a surprise but we can see that bitcoin is back up.

dunfida

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Quote from: XinXan on October 31, 2018, 11:32:55 AM

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$

As of this writing, price of bitcoin did able to reach down 6200+ which it isn't new that anytime it can dip further more. Fake outs or bull traps are just normal on this very unpredictable market.
Lots of people get victimized hoping that this is already the start of bull run but eventually it was just a fake out and making some shorts by big players.

YuginKadoya

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Quote from: tokeweed on November 01, 2018, 09:05:13 AM

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? Grin

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.

tokeweed

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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? Grin

BitHodler

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Quote from: slaman29 on November 01, 2018, 07:01:23 AM

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? Cheesy

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.

slaman29

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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.

Cacingkemi

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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.

sorrysteve1

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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.

Pursuer

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Where is my ring of blades...

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.

slocker

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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/

frchowe214

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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

adaseb

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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.

snipie

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Quote from: davis196 on November 01, 2018, 01:04:39 AM

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

It looks like this Tongue

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.

pooya87

legendary

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stability doesn't just bring boredom to holders and the loudmouths on forums Cheesy

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.

davis196

hero member

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Quote from: XinXan on October 31, 2018, 11:32:55 AM

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.

hugeblack

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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."

exstasie

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Quote from: XinXan on October 31, 2018, 11:32:55 AM

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.

imapessimist

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

1Referee

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Quote from: XinXan on October 31, 2018, 11:32:55 AM

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.

XinXan

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Quote from: Rasa nanas on October 31, 2018, 11:52:42 AM

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$

Rasa nanas

full member

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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

hero member

Activity: 1064

Merit: 505

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$

Topic: Fake dump (Read 810 times)