ETH Spoofing, what did they do and what was the result
Diupdate
Today i described the spoofing that was going on with ETH, almost step by step. I will post all the messages here below, look at the signs and try not to get fooled by these cheating bastards.
1) 4 hours ago
Comment: Ping Pong action again, always the same when volume drops to these levels.
Nothing really changed, except that we have a resistance now around 3840/50 as well. Alts are still doing okay, Litecoin even reached the target already. ADA also been strong the past days. But i personally want to see XRP show some strength. That one still has a lot to make up for.
ETH seems to be used as well by the whales for spoofing. The volume on this one increased a lot the past month, so probably a lot of money to be made by them. At the moment seeing a 2 mil and 4 mil sell order, of course completely fake as usual. They probably try to get their longs filled.
2) 4 hours ago
Comment: Just watch the price action closely of ETH on Bitmex. You see those big sell orders go away as soon as there is a little bit of buying. They stay away, just until the buying slows down, they pop up again. Just think of it this way, if you have such a big amount you want to sell. Would you throw in a 6 mil sell order while the buys are like average 100/200K? If you really want to sell, would you scare the whole market with your sell orders?
There are 2 reasons why they do it, that is to push the price down to new lows or (what they usually do) push the price down into their buy orders.
I remember the drop from 8K to 6K after the 8.5 high. Back then we could see similar tricks, but was going on at other exchanges as well.
So of course we can't really say what their intention is, but if we don't see a controlled operation throughout several exchanges, we could assume they are just trying to fill up their longs.
But if we see them doing it on several exchanges, than we can assume they are trying to push the price to new lows.
3) an hour ago
Comment: Here we can see the chart of ETH, yellow circle is when i saw the spoofing (could have been going on even longer). Blue circle is when i mentioned it, as we can see, we have only been moving up since. Also we can see the bigger candles are buy candles. With the current drop (just logging in again), i saw again spoof sell orders. People just keep falling for it.
As i mentioned before, it's not easy to say what their plan is. But general advice is, ignore the spoofing and just follow your own TA.
4) Just look at this shit, those manipulative bastards. Creating a fake (ugly) H&S on the right. With their spoofing, scared traders who react on it and eventually we see a small short squeeze. Taking the money of the ones who shorted because of their spoofing.
Now after this squeeze, it could be their plan is already finished, but it the move seems to be a bit too small. So it would be likely to move up some more. But earning 2/3% on a few million, is not small of course.
1) 4 hours ago
Comment: Ping Pong action again, always the same when volume drops to these levels.
Nothing really changed, except that we have a resistance now around 3840/50 as well. Alts are still doing okay, Litecoin even reached the target already. ADA also been strong the past days. But i personally want to see XRP show some strength. That one still has a lot to make up for.
ETH seems to be used as well by the whales for spoofing. The volume on this one increased a lot the past month, so probably a lot of money to be made by them. At the moment seeing a 2 mil and 4 mil sell order, of course completely fake as usual. They probably try to get their longs filled.
2) 4 hours ago
Comment: Just watch the price action closely of ETH on Bitmex. You see those big sell orders go away as soon as there is a little bit of buying. They stay away, just until the buying slows down, they pop up again. Just think of it this way, if you have such a big amount you want to sell. Would you throw in a 6 mil sell order while the buys are like average 100/200K? If you really want to sell, would you scare the whole market with your sell orders?
There are 2 reasons why they do it, that is to push the price down to new lows or (what they usually do) push the price down into their buy orders.
I remember the drop from 8K to 6K after the 8.5 high. Back then we could see similar tricks, but was going on at other exchanges as well.
So of course we can't really say what their intention is, but if we don't see a controlled operation throughout several exchanges, we could assume they are just trying to fill up their longs.
But if we see them doing it on several exchanges, than we can assume they are trying to push the price to new lows.
3) an hour ago
Comment: Here we can see the chart of ETH, yellow circle is when i saw the spoofing (could have been going on even longer). Blue circle is when i mentioned it, as we can see, we have only been moving up since. Also we can see the bigger candles are buy candles. With the current drop (just logging in again), i saw again spoof sell orders. People just keep falling for it.
As i mentioned before, it's not easy to say what their plan is. But general advice is, ignore the spoofing and just follow your own TA.
4) Just look at this shit, those manipulative bastards. Creating a fake (ugly) H&S on the right. With their spoofing, scared traders who react on it and eventually we see a small short squeeze. Taking the money of the ones who shorted because of their spoofing.
Now after this squeeze, it could be their plan is already finished, but it the move seems to be a bit too small. So it would be likely to move up some more. But earning 2/3% on a few million, is not small of course.
Catatan
Just look at this. Worst thing of it all, you only need a few million to do thisCatatan
They are at it again with ETH, the spoofing. And again people are falling for it. I saw it from the yellow circle. But this time the volume is even lower, so it could be they simply try to push price down even more to force a (small) long squeeze and maybe get in around 150. If we see the drop slowing down, and see something similar as the previous attempt, there is a chance we will see a similar move again.
If i would have the funds for it, i would buy away those sell walls the first moment i would see them. Doing it before they can even fill up there first longs. And push the price higher with them having a big loosing position. Forcing THEM to close and take a loss, instead of playing with inexperienced money and stealing it.
Catatan
Haha, there we had one brave buyer, doing a market buy of like 1.5 mil or maybe it was even more :)Catatan
Don't accuse me for doing this :) Bounced up on the cent there. Looking at Bitcoin, we prob won't see another squeeze happening, because chances are higher we move sideways for many hours, because we already made a big jump up. But it's good to see what these people do, so we are better prepared next time.
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