I’m just a cat, but these price actions look highly manipulated.
When I'm not stoned on catnip, I'm looking at BTC price action, and it has been freaking me out more than a laser pointer.
It's become popular to notice the Wykoff distribution over the last few months. The perfect alignment of the both Wyckoff distributions onto the BTC curve can be brushed off as some mysterious collective consciouness, or more reasonably, a self-fulfilling prophecy in which big players anticipate each others actions thereby creating the curve almost passively. Again, a Wyckoff accumulation curve seems to perfectly fit the current price action in a spooky, almost artistic perfection.
I mean it's like retail cats like me are stairing at a floating red laser dot on the wall, having no idea that some asshole is just playing with it.
I don't want to overstate the power of whales. Nor do I want to make baseless claims about conspiracies to manipulate BTC. This is just an observation.
But even before the Wyckoff distributions, I noticed how perfectly the market was fitting certain patterns. I've followed stock charts for years before getting into crypto, and never have I seen something so perfectly obey the rules of charting. I became a whole-coiner by simply trading these eerily predictable patterns.
Now is this because of Algos? Or is something deeper at play here.
Here's my perspective:
I'm under the belief that crypto will not overthrow the political/financial powers of the world. It will not overthrow the dollar unless the CBUS has a stake. There are so many large powerholders, not just whales but fucking whaling ships – governments and central banks – with hands in this highly unregulated market with the power to eat the whales too.
If you are not investing for the long term (5+ years), I think you are highly likely to be served as some rich fucks catfood. Buy, HODL, save for crazy dips which at this stage are inevitable. There's way more at stake than an early retirement. Global politics are in the game.