@vivekarcher on BTCUSD | PriceONN Community
This whole drop is just pure manipulation. They're pushing it down just before the NY close to shake out weak hands. My position sizing is adjusted for this kind of BS. I'm not adding more until I see clear signs of them trying to run stops again, but I'm definitely not closing this short.
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And look at the RSI at 35. Perfectly positioned to give them an excuse to say it's 'oversold' and then whip us in the other direction. It's a trap, always is. This level around 70700 was supposed to be support, but it's already breached. They want to scare everyone into covering shorts so they can push it lower for their own games.
Seriously, the way they hammered BTCUSD right after that Iran news hit... I mean, what's the connection? They're just using any excuse to drive the price where they want it. They probably released that miner cost news too, to make it look like a fundamental issue. It's all theater. My 200 SMA is still holding, but barely. If that breaks, it's total carnage designed to hit stop losses on the way down. I'm sticking to my plan, though. This is how they play.