If we look at the previous retracements or corrective swings on BTC we can see some cycles. The last correction took just the days to decline 40%. If price falls from here (35-36 bar cycle) and if you measure the previous move it took 61-62 day. We are at the turning point today. We can see the previous correction took a little longer and corrected 40%. Therefore we can predict where price could terminate during the next decline or corrective wave. However, we could just keep going higher. While I am overall Bullish on this chart I am waiting for a correction within the long-term trend. A correction is a pullback and does not change my bias on this pair this is why I label this chart as long as I am looking to buy into the trend- I am not a countertrend trader.
I'm neither a trend trader nor a countertrend trader. I trade according to Whale Behavior. And knowing these whales... I think they will PUMP some more Tethers into Bitcoin price... so I trade with a trailing stop assuming that's what's going to happen. Because whenever someone tries to short Bitcoin, they get a surprise when the whale comes up to the surface of the water to breath:
Always between the hours of 4AM and 8AM do they make their moves. Sometimes they DUMP and other times they PUMP when everyone is asleep and least suspecting.
@Ali7861, Eastern/NYC time. I know one of the Whales is from Asia. I'm sure there's a Wall St. whale as well.
scott22222222
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@mightytrader, have an upvote, was just saying this! But maybe London? Either way, 4 AM (UK) and 10 PM (Asia) need to be monitored or have stops in place.
mightytrader
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@scott22222222, Well... I'm not sure about London but definitely US and Asia are the ones to monitor, for sure.
favio
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@mightytrader, so those whales will short before the fork? i think that would be a great move to fool everyone
mightytrader
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@favio, @scott22222222, @Ali7861 - In all probability, knowing their knavery, I forecast they will short, suddenly and violently while we're all asleep.
They want the Gold! Bitcoin Gold is coming out. This is what they did with Bitcoin in July... they drove the whole market down so they could get cheap coins (everything was on sale) and so they could sell us Bitcoin Cash (created by a whale named Roger Ver and China -- the biggest currency manipulators on Earth, just like Donald Trump said).
Bitcoin Cash was just another way of inflating the market. There's the whale's favorite currency, USDT, and BCH was another attempt at inflation (i.e. fraud).
Anyway, just set a stop-loss if you take any trades. I think BTC will go up a little more before they crash it. Some news piece will be the excuse the whales sink the ship; but all their excuses are meaningless. Again, studying Whale Behavior is key. I'm still trying to figure it out, myself. But I get little nuggets of clues, each day.
Anyway, I should end this here. Don't mean to be taking over her chart. Sorry.
favio
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@mightytrader, that's great stuff , im thinking the same after the first fork.. back then there was a fear factor , now there is experience as another parameter
mightytrader
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@favio, Everyone probably expects this about Bitcoin Gold. And it's why I think BTC is going to go up a little more. But these Whales will trick us and launch another disaster news publication and use that as their justification for doing another dump. People will be scared again not because of FUD over the fork... but because the whales will dump and have a new news story and people will have already lost their money. So, if you trade BTC now... set a stop-loss!
Also: Even if BTC doubles without us... who cares. Better be safe than lose. There will be more chances to double our money. I do think BTC will go down before Gold and it will be for another scare reason (usually related to government... but maybe a technical problem that is blown out of proportion...). However, I can't predict for sure; only estimate on probability of past Whale Behavior.
cycler
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@mightytrader, you could publish a chart with indications marked on it as well an explanation of your views on whale behavior. You seem to have put thought into it and it would be a good education piece. Then you could link to it, and ultimately save time while adding value simultaneously. You made me think anyway. (Korea, china, America) best guesses for ruthless whale origin countries.
youtube.com/watch?v=LajBrMPY1jU&feature=youtu.be&t=13s
Always between the hours of 4AM and 8AM do they make their moves. Sometimes they DUMP and other times they PUMP when everyone is asleep and least suspecting.