ANOTHER INDICATOR THAT WILL COUNTER MANIPULATIONS (WORKS 89.98% MOST OF THE TIME!)
If you're looking for indicators that will help you in identifying the possible manipulations in the crypto market and a strategy on how to counter them. You're in the right place.
Here's how you do it.
#VOXEL has made a highly impulsive bullish movement striking from 0.1387-0.2777, this price action has shown no signs of a strongly built series of higher highs and higher lows. Instead, what it has shown are the factors of a highly manipulated token. As this token increased approximately 97.51% in just an hour, we have already assumed that this will most likely fall off immediately. The reason being, is the fact that the supposed to be strong supports that should've been built for a markup, were just a flash of buyers' sentiment in one go. Thus, we have use this as the indication of a wick that needs to be fulfilled upon buyers and sellers sentiment. At its initial weakening, it has shown a movement from the price 0.2777-0.1895 which proved to be its retest zone. Once the retest zone was hit, it reattempted in breaking out the initial manipulated wick. However, it ultimately failed since it was rejected at .2670 which then gave us the opportunity to check the weakening of its price and aggressively entering sell short positions.
In conclusion, you can easily identify those highly manipulated wicks as much as what happened with VOXEL with patience. As a patient trader, the market viewpoint will become clearer and thus, the indicator will prove that the area that needs fulfillment will most of the time, get fulfilled.
Stay wise, trade cautiously.
