I adjusted the historical FOREX Stop Hunt down to match closely with the BTC pricing levels (and increased the trended line angle to adjust for the spike so consider this manipulated* and the grey lines are just me tracking the developing flag). It seems on-trend and despite the ups and downs in the last day the target of 8,500 for BTC is marked for tonight at around 01:00 CET. Will hold on as deep as possible. I'm still very hesitant about following this as it is based on a totally different market but the IDEA/Hypothesis remains the same** as this is merely an experiment to understand how greatly the market is manipulated. I've noticed a few traders following the 2014 BTC crash trend - whilst similar in nature, I feel that this is obvious and has generated some emotional calls which the Market Maker will capitalise on - Take all Ideas, amateur and pro to formulate your own.
* I've posted the original map on twitter (at some point I drew a face on it for reasons I know not) - @HardForky
**Stop Hunts / Squeeze / Traps / etc are manipulations and are centered on taking advantage of behavioral economic traits exhibited by traders. This is why the market maker always wins - it creates the TA and I practice the idea that the whole market is a trap unless there are influences like influx of new money as we saw in December. However, the MM cannot be greedy and needs to share a little wealth and here lies opportunity for 10% of traders which I would like to be part of. The trend highlighted is indicative and the BTC market has dropped lower than the historical market in question - It also traces back for 2 months so I would be surprised that a manipulation would follow a trend so religiously.
Yep, full of conspiracy theory so I would take this all with a pinch of salt ;)