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RE: Bitcoin - Some feel good stats
sometimes I think people do a big sell to active all the sell stops that are just below resistance, causing more selling, then they go buy less expensive Bitcoin.
if they combine this with short selling, especially with leverage, it's possible for someone with a large Bitcoin position to make money on a drop like this.
Yep, I agree. The charts had been compressing for months and the volatility was at 9 month lows. There was a ton of stop loss orders just below the market prices. All it took was a little nudge to get those to start to trigger and once that happened it kind of fed on itself, selling begetting selling! :)