Bitcoin whales! What happened? Big dump or pump next?
I will start off with a quote from my previous analysis:
"However, only one of these two big scenarios will occur:
- A straight break of 11.15k, reason for that being that too many are expecting a dip at 11.15k"
We broke straight through the strongest resistance at 11.15k, because too many normal people were shorting there and selling, expecting a dip and correction.
The probability and likelihood for the dip was present, however, there were just too many average Joes shorting, that the whales pumped Bitcoin to rek them. Bitmex etc. make money by liquidations, those liquidations at 10.8k-11.15k were really profitable, that's why the price pumped to liquidate them.
Another important factor to consider is the inverse correlation between the stock market and the crypto market. If you watch the stock market, you can see, that it dipped pretty good. The money leaving went into crypto, therefore crypto pumped even more. When the stock market goes up again, that's where a correction i the crypto market can be expected.
What is the current situation and how can I make money using it?
We broke out of the Adam and Eve pattern I mentioned first a while back, target for that is 13k as long as 11.15k hold.
We are in the middle of all resistance. Breaking 11.9k will lead us to 12.2k, 12.5k and finally 13k.
What would the average Joe do? He would either start shorting now hoping to catch the dip or go long now to hope to hit the targets at 12.5k.
Whales can easily just dump the price to rek all those longers, who went long out of fomo hoping for 13k+.
In my chart I duplicated the dump from 13.8k and this is how it would look like.
Because right now there are just this two possibilities again:
- Going straight to 13k
- Dumping straight to 9k and even below that
Each of this scenarios make a lot of sense in the eyes of whales, because no one average joe is expecting this.
A normal trade setup would be rebuying at 11.15k (retest of the neckline of the Adam and Eve pattern), however, this may never happen or we can just dump straight through it, so:
Buy at: $11150
SL at: $10999
Another trade option is short at current price ($11909)
SL: $11955 (likely to get hit, bur really good rrr trade)
Short at: $12280
SL: $12350
Short at $12540
SL: $12600
Or
Buy right now at current price and sell at the short prices.
This are the best rrr setups I could find that are likely to get filled.
A whale dump like shown in the chart is still a big possibility, therefore keep this in mind!
"However, only one of these two big scenarios will occur:
- A straight break of 11.15k, reason for that being that too many are expecting a dip at 11.15k"
We broke straight through the strongest resistance at 11.15k, because too many normal people were shorting there and selling, expecting a dip and correction.
The probability and likelihood for the dip was present, however, there were just too many average Joes shorting, that the whales pumped Bitcoin to rek them. Bitmex etc. make money by liquidations, those liquidations at 10.8k-11.15k were really profitable, that's why the price pumped to liquidate them.
Another important factor to consider is the inverse correlation between the stock market and the crypto market. If you watch the stock market, you can see, that it dipped pretty good. The money leaving went into crypto, therefore crypto pumped even more. When the stock market goes up again, that's where a correction i the crypto market can be expected.
What is the current situation and how can I make money using it?
We broke out of the Adam and Eve pattern I mentioned first a while back, target for that is 13k as long as 11.15k hold.
We are in the middle of all resistance. Breaking 11.9k will lead us to 12.2k, 12.5k and finally 13k.
What would the average Joe do? He would either start shorting now hoping to catch the dip or go long now to hope to hit the targets at 12.5k.
Whales can easily just dump the price to rek all those longers, who went long out of fomo hoping for 13k+.
In my chart I duplicated the dump from 13.8k and this is how it would look like.
Because right now there are just this two possibilities again:
- Going straight to 13k
- Dumping straight to 9k and even below that
Each of this scenarios make a lot of sense in the eyes of whales, because no one average joe is expecting this.
A normal trade setup would be rebuying at 11.15k (retest of the neckline of the Adam and Eve pattern), however, this may never happen or we can just dump straight through it, so:
Buy at: $11150
SL at: $10999
Another trade option is short at current price ($11909)
SL: $11955 (likely to get hit, bur really good rrr trade)
Short at: $12280
SL: $12350
Short at $12540
SL: $12600
Or
Buy right now at current price and sell at the short prices.
This are the best rrr setups I could find that are likely to get filled.
A whale dump like shown in the chart is still a big possibility, therefore keep this in mind!
相关出版物
免责声明
这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。