ETH looks headed to it's near term resistance zone. A break of the triangle should confirm further movement to upside or downside. I am long with stops under $750.
I saw this twice already, last night had a strong "wall" that ultimately fell and price ran to 860(?). Looks like same shit here again trying box price in under 8. I bet some big player is trading this back and forth between their own accounts and using that to put up fake sell walls and fake buy support at times to try to trick retail.
dudemcgregor
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@MS3IV, Yes, i was seeing this on GDX. My hunch aligns with your's... a big player(or 2) trying to accumulate a sizable position before the next run. Retail seeing these walls may get discouraged and sell.
The "walls" typically show up on round numbers too.
MS3IV
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@dudemcgregor, yes. Causes me to think it's big fish putting up sell blocks and buy magnets and making the spread.
MS3IV
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@dudemcgregor, something fishy is going on. Am I seeing right? Rejected off the 800 3 times in a row and back to 777. This is being manipulated. If buyers r buying at 800 y wouldn't u back off the sell? Instead they put it on hard. Very strange..........
Also does your gdax candlestick data display funny / incomplete? Something is going on here bro...
MS3IV
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@dudemcgregor, the way it's looking these bastards are getting away with it. Bidding at 775 in large blocks to pull down price and reselling at 800 on hundreds of shares. Just flipping out and dipping back in.