Bitcoin market manipulation or just ordinary price action?
The current 5 minute chart for Bitcoin looks quite unusual. I saw people calling this market manipulation but it was possibly due to reports about a Japanese cryptocurrency exchange being hacked, spooking the market. It does look like a lot of automatic sell orders were triggered, then buyers saw this as an opportunity and moved the market higher, triggering stops on the sell orders. This doesn't look like anything unusual to me. I used to spread bet the Dow Jones when interest rate announcements happened and the chart would often look very similar. It was fun when I got it right but not so much when I got it wrong. I gave up on day trading because it was too stressful, if you think hodling is stressful, it doesn't come close. Moves like this don't show up on longer term charts, that's what interests me now.
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