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BTCUSD- Fear not the whales! Staying afloat amidst manipulationOH NO THE WHALES ARE MOVING THE MARKET!!!! Yes, yes they are. But that doesn't mean you have to watch your stops get swallowed up like a helpless krill! All jokes aside, I hardly ever post about bitcoin as I'm an Ether guy myself, but there really is some highly suspect moves in the BTC market as of late. D4 did a great job of covering some of the suspect zones (link to his chart is provided) and in the comments you can find some secondary commentary and an accompanying chart showing some additional evidence of possible manipulation. But lets be real, if you're trading cryptos and keep your head in the game, you already knew this was happening. On to the good stuff! So today we're going to: Check out one of my methods for staying away from disastrous losses from liquidated stops while whales move the market Look at some possible paths for BTC over the next day or so Oogle some obescenely beautiful channel movement Staying Afloat ***This is just what I personally do to manage my trades during heavy manipulation, it is neither perfect nor without risk; but if you stay proactive about watching the market you should be able to minimize the likeliness of taking losses in a whale sell off. I truly cant stress this one enough: Monitor to break even before you even consider dropping a stop. If you're trading 4 hours or greater bars, drop down your usual trade time cycle to half of its usual value and do your best to check the market often for dramatic shifts. (I usually trade 4 hour charts, in this market I drop to two and do my best to check every 4 hours at most). Place very loose stops (I usually push down my normal stop as much as 6-8% lower DONT LOSE YOUR HEAD! whales moving the markets can be scary to watch, but they're relatively easy to pick out. You can see how many major "whale moves" correct rather rapidly (likely after minnow positions are liquidated), HODL is never a trade strategy, but a calculated short term hold for indications of a market shift is a completely viable strategy; possibly even keeping you from the way too common "buy high, sell low syndrome") Possible Paths Blue seems unlikely with the dropping volume against the sharp recovery that just occurred Green is what I would really like to see and would be the "healthiest", id be more bullish on a pump to the 100% fib after some strong consolidation along the channel than a low volume jet upwards. I dont think this scenario is too likely considering weve been moving channel bound for upwards of two weeks. If it does though, we're looking at some good support at both $8750 and $8000 (~%50 fib of current channel bound cycle) Channels can be a beautiful thing Theres not too much to this one, I just love examples of market geometry and technicals playing out in fromt of me. Really the channels began forming shortly after the recent cycle low reversal. It's interesting to note that both the high/low cycle shifted by a single channel each time the fib ratios were reached. Stay frosty, and learn to fight the whales fellow crypto traders! -------------------------------------------------------------------------- DISCLOSURE: This analysis is meant for educational purposes only. You trade at your own risk! Austin Doyle CTO
BITFINEX:BTCUSD
by UnknownUnicorn1613901
Manually made channelAs I couldn't match a pitchfork correctly for this log scale trend, so then decided to Make own channel manually out of an older trend. Placed the mane lines, measured them with fib channels to draw other continual channel lines which would mach the pattern so We could try to predict the next tops/bottoms of this awesome trend. What do you think of this channel? if you have any advises or ideas which you want to share, feel free to post in the comments
COINBASE:BTCUSD
by UnknownUnicorn1587964
XRP Sell, get ready to buy long term.HODL is what they say, anyone selling XRP right now is loving life, and those HODLing from 2/3 bucks have loss anywhere from 50 to 60 percent of their acct value. I can see XRP going down to a previous low 85ish, I can see it going down further to about 80 cents, possibly tearing apart buyers by dipping lower to 75 cents. I'm new to trading XRP and I do believe that despite it being a crypto currency it is just as manipulated as regular currency, it's going to follow patterns I will continue updating this. Currently I have a short open from 1.13 and looking to hold to 80 cents. I would look to buy here with a small lot, would place a buy limit at 75cent ish.
BITFINEX:XRPUSDShort
by SSJNat2018
2
EUR GBP Short 2My first short I rode it down from about 0.89382 (38.2) to 0.88594 (50) and got out thinking it may bounce off the 50 fib which it did. Got out watched and waited. Bounced off the 50 a little bit but to me it looks like it will eventually continue going down. Looking at the fibs for the first wave up it looks like it could bounce from 50 to 38.2 and possible go up more from there. However, looking at the fib on the wave down it looks like a bounce on the 38.2 and down towards the 11.4. The 38.2 levels on the wave up and wave down line up. (Probably not significant but interesting.) Fib retrace on the wave down bounced on 38.2 twice, shot a long wick to the 50% and now looks like its headed back down. Entry: 0.88981 SL: 0.89906 (90 pips) TP: 0.8769 (130 pips)
Short
by el2icxp
EUR GBP quick shortI rode EUR GBP long from the 61.8 fib level to 38.2 fib. Took profits at 38.2 fib as it consolidated and just waited to watch what it does. Looks like a false move up or stop hunt on today's candle (long wick up) before shooting down so I entered a short. Entered: .89164 TP: .88533 (This is the 50 fib retrace level, next level down.) (67 Pips potential profit) SL: .89878 (Recent double top level right above the 38.2 fib level) (67 pips potential loss) Risk to reward ratio 1:1. Not the best risk to reward but I felt like rolling the dice on this quick trade.
Short
by el2icxp