I thank the brother who commented on the subject of the previous post in which I indicated that what happened was manipulation, but as our friend mentioned, it is possible that it was a short sale, i.e. at the market price, by one of the whales, and this is scientifically the most correct and accurate statement.
But for the sake of scientific honesty, I wrote before in my post the phrase “according to my belief,” meaning that this is my personal opinion, which is certainly subject to right and wrong, and the scientific and precise reason is the sale process in both cases:
1. Immediate sale in large quantities at the market price (this is why sideways trading is usually at the peaks to liquidate the quantities by the market maker quietly without causing the currency to collapse, thus maintaining a high selling price).
2. Liquidation of futures contracts is basically a sale of the currency!! That is, when the price naturally drops, it touches the liquidation of one of them, and when liquidation occurs, the long-term contract is closed, and the long-term contract is basically a purchase of the currency under your contract, so the opposite process of buying, which is selling, takes place at the time of liquidation, causing a greater drop to touch the liquidation price of another group, and so on, like the cut contract, one grain drags another.
Usually at such times and high greed, especially when Bitcoin rises to new levels and breaks resistance, large amounts of money will enter that are greedy for the rise (you can monitor the size of futures contracts and the direction of futures traders through many applications and sites, the most important and simplest of which is coinglass), thus the value of the contracts increases. It is known that each platform is responsible for covering its profits and losses in the contracts, so I mentioned that it is manipulation in my opinion, and in the end it is my personal opinion that may be right or wrong and is not based on any scientific basis or necessarily correct.
I would like to take advantage of the comment to note the scientific integrity first and to take advantage of the occurrence of this candle to mention its details and why it occurred so that you can be careful at such high levels that will be many in the coming days, God willing, and to stay away from futures contracts and immediate safe investment and to know that none of these candles will affect even slightly the general path of the trend, but rather they are momentary candles that do not concern anyone who does not trade in futures contracts.
Good luck to all 🌹
