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RE: Bitcoin Spikes: Can Anybody Explain Them?

in #bitcoin6 years ago (edited)

I went camping for a few days and came back into cell service, and was like "oh hey."

LOOKS like a short squeeze off a pretty clear technical reverse head and shoulders pattern on the daily chart. Not sure if it was news based, I personally have noted news has a near zero effect lately, to the upside or downside. There is certainly a bunch of bot activity across the board. I think it can be explained though, it's more of a traders marketplace right now, not a retail investor's.

Screen Shot 2018-07-20 at 9.59.03 AM.png

With shorts comparison:
Screen Shot 2018-07-20 at 10.00.33 AM.png

And then the TD Sequential that traders use alot is on a weekly 9 suggesting this week is very important for market structure:
Screen Shot 2018-07-20 at 10.02.48 AM.png