@oakinola259 on BTCUSD | PriceONN Community
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Just jumped into a short position on BTCUSD around 69750. Feels like a trap, though. This market is so rigged, they'll probably pump it just enough to catch my stop loss before it tanks another thousand points. Honestly, watching this now with a knot in my stomach, expecting the usual manipulation to kick in any second. Spread was a bit wide too, typical.
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Oh, and I just moved my stop to break even. Because why not give them more ammo? If it goes south, at least I won't lose money. If it goes north... well, then we're back to square one with this manipulated garbage.
Yeah @oakinola259, I feel you on the stop hunt. This 70k area is just a playground for them. They let it drift down to around 69700, and now they're teasing us with this slow grind back up. It's classic. The institutional money pouring in is just a smokescreen for the real players to shake out retail. They probably let the price hover just under 70500 – the 20-day SMA – to make you think it's going to break out, then BAM, back down it goes. I wouldn't be surprised if this news about institutions increasing allocations is just designed to lure people in before they drop it hard again. Just watch, they'll push it up to 70400, get everyone excited, and then dump it to 69500 by the time London wakes up. Always the same story with these markets.