BitcoinLong
Let's pray that this whale doesn't leave us all holding bags
Updated
The bitcoin chart is nothing but volume. Forget about support lines, fib, candle sticks and any other fuggazi. Because of the efficient market hypothesis, bitcoin has a relatively weak amount of price discovery when compared to more marketable securities/assets. It's incredibly obvious what this market is all about: Big volume brought to you big whales.
Bearing this in mind just check out the arrows on my chart. It seems that one final pillar of volume remains, and it doesn't seem to be budging... yet. Maybe whoever it is that produced this sheer amount of volume, is asleep, or maybe they want to keep this market alive. Whoever it is and whatever their motive may be it seems like a really good opportunity to buy back in right now. Just have your stop loss/sell orders set at around $7409 and you'll be fine. The chances of this guy dumping bitcoin onto the market, and your orders getting gapped, are very slim at this stage as the whale would incur a substantial loss.
If the whale does decide to sell he/she (lets be honest, it's probably a guy) will do it in small portions, in order to cost average the loss they may be willing to bare. I'm currently bullish on this market. The bears may attempt to provoke the whale into selling, but whoever the whale is obviously has balls of steel - throwing that amount of money around ain't easy and it's definitely calculative. It's going to take a lot of selling pressure to manipulate them into exiting their position.
Bearing this in mind just check out the arrows on my chart. It seems that one final pillar of volume remains, and it doesn't seem to be budging... yet. Maybe whoever it is that produced this sheer amount of volume, is asleep, or maybe they want to keep this market alive. Whoever it is and whatever their motive may be it seems like a really good opportunity to buy back in right now. Just have your stop loss/sell orders set at around $7409 and you'll be fine. The chances of this guy dumping bitcoin onto the market, and your orders getting gapped, are very slim at this stage as the whale would incur a substantial loss.
If the whale does decide to sell he/she (lets be honest, it's probably a guy) will do it in small portions, in order to cost average the loss they may be willing to bare. I'm currently bullish on this market. The bears may attempt to provoke the whale into selling, but whoever the whale is obviously has balls of steel - throwing that amount of money around ain't easy and it's definitely calculative. It's going to take a lot of selling pressure to manipulate them into exiting their position.
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My hypothesis was spot on. The bears have tried several times to coerce the 2018-04-12 btc whale into selling. However, they were wholly unsuccessful and have pumped the market up in order to rethink their game plan. Expect to see more dumps soon, but they will most likely be unsuccessful. This will give us a great opportunity for re-entry if you haven't already done so.Note
once again they've tried to coerce that one pillar of volume into selling by massively dumping onto the market. Great opportunity to buy back in because you can keep your stop losses tight, which makes a great risk to reward opportunity.
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