This recent dip was high volume over a period of minutes, i.e. a whale.
There are recent history records on the chart, that show usually a sideways action after the dip, where people are analysing, and then usually a FUD driven downtrend 400 points more or less down, over time, and then eventual recovery when people realize that there are no more whale dips, and the organic market still has growth.
I have taken the most recent two of these events that are the most similar in size and price action, so that you can see my thinking.
Sorry for the lazy and sloppy freehand on the chart. I am home sick today, and do not have the stamina to use the neater drawing tools to make a nice looking chart. But you get the pic very fast here regardless. The whale poops are very similar, as is the short sideways action that we are in now, and I expect an organic downtrend at any moment and I have a short position open currently.
Databyter
There are recent history records on the chart, that show usually a sideways action after the dip, where people are analysing, and then usually a FUD driven downtrend 400 points more or less down, over time, and then eventual recovery when people realize that there are no more whale dips, and the organic market still has growth.
I have taken the most recent two of these events that are the most similar in size and price action, so that you can see my thinking.
Sorry for the lazy and sloppy freehand on the chart. I am home sick today, and do not have the stamina to use the neater drawing tools to make a nice looking chart. But you get the pic very fast here regardless. The whale poops are very similar, as is the short sideways action that we are in now, and I expect an organic downtrend at any moment and I have a short position open currently.
Databyter