So I'm currently watching the BTC/USDT being traded on Binance.The price has broken out a few times, testing $5500, $5510 and the increments up to where it is currently ($5530~)At each level when the price was moving upwards quickly, I keep seeing (what I assume is one seller) is that a wall of 902, to 678 BTC keeps popping up and being removed every 5 or so seconds, at various price points, typically pushing down the upwards momentum.It also looks like whenever this wall goes up, none of it is really eaten in to and the price is held (or lowered) successfully at this price.I'm assuming this massive 'spike' /giant wall appearing all of a sudden, is messing with algorithmic trading (bots), but I am assuming it is a real person 'flashing' on and off with these massive sell walls. Anyone know this sort of strategy? Simple price manipulation to suppress it going too high by virtue of owning massive amounts of BTC?
Submitted May 03, 2019 at 08:11AM
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