• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Spin & WinTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Spin & WinTry
No Result
View All Result
NewsBTC
No Result
View All Result
bitcoin pump and dump Darth Maul
Nexo Logo

Return of Darth Maul: Bitcoin Price Pumps And Dumps In 5% Shakeout

Tony Spilotro by Tony Spilotro
9 months ago
in Bitcoin
Reading Time: 3 mins read
Advertisement

Bitcoin price today has been more volatile than normal, and that’s a statement in and of itself. The normally notoriously explosive cryptocurrency rocketed more than $2,000 and nearly 5% this morning, only to then plummet and wipe out the entire rally and then some.

The fall took the cryptocurrency down by more than 7% and $3,000, leaving liquidations in both directions behind. What caused the sudden storm, and is this just the calm in the eye, or is the madness over?

Pump and Dump Or Face-Off Between Bull And Bear Whales?

Bitcoin saw a steep rejection from above $50,000 and bulls are now scrambling to build meaningful support that holds. If not, a deeper drop and a bear market remains a possibility. For now, whales are either playing games, or waging war with one another where both sides are losing big.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Related Reading | Bitcoin Price “Pitchfork Channel” Could Pin-Point The Last Dip Ever

A sharp move today in markets saw liquidations on both sides of the trade, and the volatility alone now has the market in a state of fear.

A pump this morning caused Bitcoin price to rise more than $2,000 and around 5%, only to immediately drop more than 7% and $3,000 to sweep support and lows. Anyone caught buying what they thought was a breakout, is now at a loss. And it all played out in less than one-hour from bottom to top then back down to the bottom.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

The move pictured above took less than an hour | Source: BTCUSD on TradingView.com

Bitcoin Price Rockets On Litecoin News, Crashes After Liftoff

The move was driven in large part by the greater crypto market. Digital assets have a close relationship in price action, so when one coin pumps, the rising tide lifts all boats.

Today’s wipeout move was driven by Litecoin and a suspicious scenario where a fake press release was distributed claiming Wal-Mart would support the cryptocurrency. When Wal-Mart denied the claim, an almost immediate 30% rally was erased, also taking Bitcoin price back down with it.

bitcoin Darth maul

A Darth Maul is all that remains on the six-hour Bitcoin price chart | Source: BTCUSD on TradingView.com

What remains on the chart on higher timeframes, is a what the cryptocurrency community has so affectionately dubbed a Darth Maul candle.

Related Reading | Five Bitcoin Price Charts That Suggest Bulls Have Little To Fear

This type of wipeout candle is a doji, with an extremely long wick in either direction, forming what looks like the Star Wars villain’s trademark lightsaber. The impact they can have on investors and traders, is almost as nefarious as the LucasFilm icon.

Is this it for the shakeout, or is there more pain in both directions to come?

Follow @TonySpilotroBTC on Twitter or via the TonyTradesBTC Telegram. Content is educational and should not be considered investment advice.

Featured image from iStockPhoto, Charts from TradingView.com
Tags: bitcoinbtcbtcusdBTCUSDTcryptoxbtxbtusd
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Tony Spilotro

Tony Spilotro

I'm Tony Spilotro. Behind the pseudonym, I'm a global remote work leader with a decade of award-winning content experience and excellence. 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 at @tonyspilotroBTC and feel free to drop me a line if you would like to work together.

Related Posts

Bitcoin Dominance Remains High As Market Sell-Offs Settle

7 hours ago
Bitcoin Bearish Signal: Whale Ratio Continues To Stay At High Value

Bitcoin Bearish Signal: Whale Ratio Continues To Stay At High Value

11 hours ago
bitcoin

Perp Traders Remain Quiet As Bitcoin Struggles To Hold $30,000

13 hours ago
Bitcoin on-chain metrics

Bitcoin On-Chain Activity Throttled After LUNA Collapse

1 day ago
Bitcoin Consolidation Uninspiring, But Run To Near $33k On The Cards

Bitcoin Consolidation Uninspiring, But Run To Near $33k On The Cards

1 day ago
Bitcoin

Bitcoin Trading Volume Plummets Down From Recent Top

1 day ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Wildcoins Casino

Wildcoins Casino

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

A guide to Capricorn, the first DEX on Cube Chain with hundreds million USD Liquidity Investment

May 27, 2022

Brawltales’ First Batch of NFT is Launching Soon

May 27, 2022

Interest-free Loan, New way of Assets Increase

May 26, 2022

Hoskinsea Partners with Pavia land to Setup A Virtual Headquater On The Metaverse

May 26, 2022

The first free and equal digital country – HyperNation global theme conference was held

May 26, 2022

ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win
  • Spin & Win

© 2021 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.