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Home Cryptocurrency news Bitcoin

Bitcoin BTCUSD Darth Maul Makes Sunday Morning Anything But Easy

Tony Spilotro by Tony Spilotro
8 months ago
in Bitcoin
Reading Time: 3min read
bitcoin price btcusd darth maul
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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.

bitcoin btcusd darth maul

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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.

bitcoin btcusd darth maul

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.

Tags: bitcoinbtcbtcusdBTCUSDTcryptoxbtxbtusd
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Tony Spilotro

Tony Spilotro

I'm Tony Spilotro. Behind the pseudonym, I'm a digital media executive and global remote work leader with a decade of content experience and excellent. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck - literally – to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn't yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can't yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me. Through all of these lenses, I seek to produce content that is educational and entertaining, and I thank you sincerely for taking the time to read what I have to say. Please follow me on Twitter and feel free to drop me a line if you would like to work together.

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