Did you pull that trigger yet? How low can we go as chuck d says?
Me? No not yet, although this doesn't seem like a bad spot
Agreed.
The crazy part to me is that the depth chart never changes. Always way more buyers than sellers, yet constant dumping.
Do you think all the newbies who bought at the ATH are now dumping at a loss? This coin is awesome, it's the best rollercoaster ever, I feel like a bitcoiner did back in 2010-11 etc.
Someone with significant resources has a bot playing the book like an instrument. Earlier aminorex guessed that 95% of the book belonged to this entity. Wouldn't surprise me. I've been watching this market for over 2 years, and never seen such precise control as the last few weeks. Maybe just better bots, I dunno. Either massive accumulation, or the accumulation was done earlier, and now it's a divestment game. I'm not finished accumulating, but I'd rather be forced to buy at higher levels than drag down much further. It's damaging to jack it around so much.
While I don't usually agree with "single actor" theories and whale worship, I have to admit this is now a very different and clearly manipulated market. Like yourself I've watched the charts for years now and used to participate on at least weekly basis - it was so easy to make a little profit and TA was valid.
Now it just seems to be a sequence of bull and bear traps constructed to accumulate
moar coins.
I don't know if its damaging, its just appealing to a different kind of punter (the gambling day trader) at present; as you say 'someone with significant resources', so unless their intentions are hostile, you'd imagine they have the self-awareness to understand the impact of their actions and change those actions when required.
But that could be me projecting.
