I don't know what's going on, but if what you're saying is true it sounds like "they" are trying to stabilize the price at a certain point.
But with Binance being ~6% of the total trade BTC volume, it doesn't sound like that would have much of an effect on it's overall market value.
It's not a counter argument I'm just throwing out some observations. I'd be worried if the market was that flimsy. I'm aware of market manipulation, but I'd be scared if you could just write bots to do this so easily
Does the red indicate orders cancelled or orders being sold?
Not just on binance. I see it on cryptopia and multiple other exchanges. Red indicates sell orders waiting to go through. If you see a huge order in the middle dissapear it means it was cancelled unless it moves up the list then disappears, which means it was more than likely processed unless the person/bot is very quick.
And a good trading bot isnt that simple to make, exactly why the people who can afford to make or buy them have the means to manipulate the market like they do.
I could definitely be wrong but i refuse to believe dudes are sitting around for hours on end placing and canceling orders. That would be absolutely insane.
But this is one of the pitfalls of having a completely unregulated market. The rich can play with our money without risking losing theirs.
the gig is up my dude...
He could have took out half and legit had 2 million on deck...
