BitRss.com latest World Crypto News

Search and discover the latest Cryptocurrency updated Stories in Categories.

24-7 World Cryptocurrency News about Blockchain, Technology and much more, only from Top Leading Sources.

Bitcoin BTCUSD Darth Maul Makes Sunday Morning Anything But Easy

Bitcoin BTCUSD Darth Maul Makes Sunday Morning Anything But Easy
In traditional markets, weekends pause for a moment of peace. Not Bitcoin and the rest of crypto, however.
Weekends are often when the most alarming moves occur, due to relatively low liquidity and trading volume. That’s why it shouldn’t be a surprise that Bitcoin pulled a “Darth Maul” this morning and stopped out traders on both sides of the fence.

BTCUSD Darth Maul 5M | Source: TradingView
Sunday Morning Bitcoin Stop Run Wrecks Weekend Traders
Just moments ago, during the early hours of Sunday, July 12, Bitcoin price BTCUSD in five minutes spiked nearly $100. The move just five minutes later was countered by an over $150 drop.
The resulting candle is affectionately called a “Darth Maul” by the crypto community, in reference to the Star War villain ’s unique, double-ended lightsaber.
This type of move is just a form of a stop run to both sides with an especially cool and culturally relevant name.
It is designed to trigger the stop losses of traders on both sides of the fence and usually precedes a large breakout.
Related Reading | Bitcoin Volatility Reaches Low Set Ahead Of April 2019 Rally, Will History Repeat?
BTCUSD has been trading sideways for several weeks in a row now, and volatility is at historic lows .
Traders are getting into position, but thanks to moves like these, they aren’t staying in them long.
While traders and investors are out tending to personal lives, their homes, or running errands, it leaves behind a low liquidity and low volume environment in the crypto market.
It allows for Bitcoin price to move more sharply with less capital. This type of environment is a whale’s ideal opportunity to shake the market out of position before making a move.

BTCUSD Darth Maul 1H | Source: TradingView
Darth Maul, Bart Simpson, And More: What Are These Wild and Wacky Price Movements?
It results in moves like Darth Mauls, Bart Simpsons, and other movements designed to surprise traders and shake up price action.
Darth Mauls as we saw today , run a stop with a sharp move up or down, followed by a move in the opposite direction, leaving behind the lightsaber like candle.
Bart moves typically surge strong in one direction , and will spend several hours consolidating before the entire move is wiped out in the opposite direction.
Related Reading | TikTok Dogecoin Pump Purveyors Experience Their First Crypto Dump
Regardless of the style of movement, the reason for their existence remains the same: to shake traders out of position .
These types of moves are difficult to prepare for, due to their surprise appearance, often taking place during weekends when traders are away and distracted.

BitRss.com shares this Contents always with License.

Thank you for Share!

   
Tumblr
LinkedIn
Reddit
VK

WhatsApp
Telegram

Search about Crypto News


BITRSS | CRYPTOCURRENCY WORLD NEWS

The latest Top News, only from Leading exponents of BlockChain, Bitcoin and different Accredited Crypto Currency Sources.

Since 2015, our Mission was to Share, up-to-date, those News and Information we believe to represent in an Ethical and sincere manner the current Crypto Currencies World: everything you are looking for, in one place!

We have always tried to give priority to the News; for this reason we have designed BitRss.com simple and intuitive, usable by all Devices, fast and effective.


| LEARN MORE ABOUT |

Today Most Popular News


Buy Bitcoin online in ANY country, supporting 80+ Payment methods!