The ETH 'Pump & Pump'!
ETHUSDBefore calling it quits last night (NY Eastern Time), I stated that ETH would not 'organically' climb up substantially.
Trading @ only ~50k in volume for all of Sunday, my logic was sound. Low and behold, I placed a stop limit buy order (just in case) @ $301 and an alert at $310. Alarm goes off and I wake up to 'whale pump' which more than doubled the volume of ETH traded -- 'pumping' the price up to exactly $324 before settling back to $315 (while shaking some people out of their money, no doubt).
Lesson: Profits/Losses come quick when trading with whales.
Tip: When the whales come in to 'artificially' manipulate/inflate the price, be prepared to sell into strength and pay close attention to the level 2 data to monitor the action. *Their buy (and sell) orders generally stand out as nice round numbers, sometimes piling up in multiples of 10, 20, 50, or 100. The moves come quick, so it's best to have you finger on the trigger (or touchscreen).
See for yourself here--> http://sk.uploads.im/d/zH4Dq.jpg
When all else fails, simplify. -Me
DISCLAIMER: My analysis and opinions are mostly based on the current trends and chart analysis. That said, you are inevitably responsible for your own decisions. Trade at YOUR own risk. Cheers!
DISCLAIMER: My analysis and opinions are mostly based on the current trends and chart analysis. That said, you are inevitably responsible for your own decisions. Trade at YOUR own risk. Cheers!
Disclaimer
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