AND, soooo many more idiots that don't know how to use them.
Please don't go long on a fully manipulated market.
Granted, all markets, forex, stock, commodities, ALL of them, have bots... but they have volume too, to protect against aggressive bots. OBVIOUSLY, Bitcoin, and cryptocurrency/ALTcoins do NOT.
It was crashing and then the bot started to run crazy.
ChartArt
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There was simply a lack of buyers and when China woke up they decided to sell. End of story. I had seen this crash coming several hours in advance, sadly I didn't publish a chart predicting it to create a proof.
MarvinMartian
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Well, you are contradicting yourself a bit. The 'bot started to run crazy', WAS the crash.
The crash, was wholly the bot. Someone sold off, enough to trigger a badly programmed bot and that was the result. You can see the gap in the volume. It was a big sell off. Then the bot got hold of it. Probably triggered more bots and everyone with cold feet, fed into the downtrend.
To this, I agree, a market with think volume is a no go for analysis...On the other hand, if you go for longer term perspective, you can more or less predict prices in BTCUSD.
MarvinMartian
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If you are interested, PM me and I can tell you how to look at charts and spot "hidden" bot action.
It was crashing and then the bot started to run crazy.