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Whalesplan

Swim with the Whales or Get Eaten By OneHere's an idea. *Not financial advice. BTC is coiled up for a breakout and the market is percolating with anticipation. Unfortunately for the bulls, thus far every attempted breakout seems to be a fakeout back to the downside. Trying to figure out what is causing this, and also curious why all of the local support ranges seem to be in roughly the same size increments I studied these moves that just seem to be repeating themselves at each level. After watching this happen over and over again it is now revealing a somewhat predictable pattern. If your' not using order book volume (OBV) to pinpoint where local resistance and support are, you should be. It's an amazing tool! Base on data from the order book, it appears that those with the big bags controlling the price action have set a huge buy wall around 7k and others are contributing to the sum of orders at and around those levels, setting some smaller buy walls in the range we are in now. Seems like they liquidate the order book down to their preset level and "allow" the market to relief rally back to their sell wall that keeps appearing, getting cleared, and then reappearing at the same level ($7195 until an hour ago). The previous ranges and their retests at 7300, 7400 and 7500 respectively all attempt to FOMO traders back in to reload the order book, only to be liquidated by the whale(s) over and over as they short the market back down again. This process seems to be repeating itself with some consistency at everyone of these so called local support levels which, IMO act like BTC recycling stations for the whales. At the moment I am writing this, BTC bulls have again cleared the buy wall at $7195 and the order book looks like price could run without too much resistance until (7495 currently). That would essentially allow the whales to let the bulls run their money back up before they hit the reset button with another buy wall and start recycling orders again. How far the whales "allow" the bulls to run remains to be seen, but there are recycling stations of resistance in the form of buy walls at prior, so called local support levels starting at 7495 and moving up in the roughly the same increments they came down. While the bulls seem to be making up some of the deficit in the order book, they haven't yet mustered enough momentum to run. The looming question in every traders mind is will BTC hold above the buy wall at 7k. There is certainly enough sentiment and whale buying power to dump the market down to and beyond the buy wall at 7k, but don't be surprised if they reload and recycle a few more times along the way. Regardless of whether your sentiment is long or short it's becoming more and more evident that to succeed in this market which seems rife with manipulation you must identify what the whales are doing and swim with the pod or get eaten like krill. *Disclaimer: I am not a financial advisor. Not financial advice. Trading is extremely risky. DYOR. I trade crypto and securities.
by kapro
4
BITCOIN SCENARIO TO HURT BULLS & BEARSHey traders! Hope you're enjoying this weekend so far! Wanted to be unbiased and share what could be the real head-ache for both sides.. And most likely happen to crush both sides. I want you to start thinking outside the box in crypto trading.. That's one of the ways to be very good trader here.. This time I used pitchfork tool for you to see what I mean.. And of course some painting skills for visualization. Now we reached the EQ (0.5fib) of the recent wave from 7.3k to 10.3. (Peaking at 10.6 at derivatives exchanges).. We did not close below crucial 200 EMA. We have to keep our eye in coming days and how it closes ( We might get another low, possibly 0.618 fib @$8560 before heading higher ) Dotted lines are important swing tops where a lot of stops could be taken out before prices turn around. We already took some at 10350, now it's time to play the same game peaking slightly above 9570. Our target is 0.236 or anything slightly above it. If you are trading with high leverage, I would recommend to have patience and see if we get that lower low in next couple of days. Blue zone below is daily supply where I would be looking to take profits $7250-$7000 . Let me know what you think! This is not financial advise. Use it as a tool to learn something about psychology of the markets and who are the losers in this game?
BITSTAMP:BTCUSD
by Patrikas10
1
BTCUSD Descending Triangle that is NOT BEARISH!Lets look at Macro then Micro trends. There is a descending triangle, which we can all clearly see. Multiple downward channels almost in algorithmic fashion, spaced and precision sized. Then we clearly see the RSI Warning us on a very clear (YET EARLY) pattern in a the waves of these selloffs. We also see the highs are not getting as high. Now, This is normally bearish, but I believe its because we are losing loads of small investors who have lost their "means or appetite" to go bullish. We know this is manipulated as we clearly see the patterns on 3 time-frames and clear signals almost to obvious to be natural. Stochastic(RSI) Clear as day with descent forewarning The trade: Date-range Buy trade for +-3 Months. Opened 4 Trades 6300 Here you can long Bitcoin for a Target 7700. Stop-loss 6000 That may or may not reverse to the 6000 level, So you would want to take some profit before the 7700, then enter a short for the 6000 level AS WELL ASS a long with no Take profit for me. This is a date-range trade for +-3 Months, both with tight stop-loss of lets say 300 Dollars. I look at a huge Bearish Triangle, coins were not sold gradually, but we're offered for sale on the market in big batches on one or two exchanges. This to me seems really likely a sustained effort to drive the market Rookies to quit and to shake off the inexperienced guppies. We also now need to start looking at Bitcoin "IN RELATION" to $USD value. It's acting more like the Euro and We are expecting Euro to strengthen to 1.16 somewhere. That's my take on which direction to expect from Bitcoin and I'm getting in on the Long in harmony with EURUSD. Let me know your thoughts. PS, expecting Massive breakout +- 15 Days max to start the Bitcoin Season. I'm convinced the breakouts will come in the Asian Market trading times.
BITFINEX:BTCUSDLong
by Coinswop