I can understand that it could potentially happen if people could put enough money into it, however I believe even whales couldn't handle something like this.
There was a study from crabby that showed that you need about 90 million dollars cash injected into buy orders extra so that the price would go up 1% and that means if you want to reach another 10% that is another billion dollars and I do not think that whales have a billion dollars in fiat to get in and change the market all that easily. Sure they have some power, but this is not stock market, this is not forex, this is crypto which is decentralized and unregulated most of the time, and that means I do not think there would be some sort of increase in the price that easily and nobody would put in that much money.
Topic: A move (almost) no one is expecting: gap at $11795 - page 2. (Read 840 times)
So it took almost 2 months for OP's call (or rather, over 1 month late to reach his 11795) to take shape but it does look like it could be happening after all? Or not? I actually don't see the pullback to 7k happening anymore now as that ascent isn't as steep as it should have been. If there's a pullback, it may take 13k to trigger now.
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Feel like I should pay more attention to this topic since it was a fair call.
It still marvels me, how most of this prediction are always accurate irrespective of its price movement not minding if it's predicting towards a downtrend or uptrend. Sometimes it gets me all excited that I stick to relying on them for my investment choices. I remember reading a thread on the altcoin board predicting ethereum to be trading around $350 in or before August back when ethereum was around $233. I followed that advice and today my portfolio is in profit on regards to that investment.
Back on topic, since the OP had his prediction set on the whales manipulating the market and it played out as he predicted, I think we just have to stick to that although no one actually knows exactly what's going on maybe in the coming weeks we might get some answers on what actually is the motivation behind the price movement whether it's just the market reaction or whales manipulation.
I did not checked the price when I woke up today. Suddenly while browsing on facebook I saw my friends post and it is all about the price of bitcoin. Right after that yes it is really true that bitcoin is more than $11.5K. Well it is another surprising day for me because bitcoin price keeps going up even though there are small price drops. I have also notice that ETH price is good as well as some alts but not all. I am not good at reading charts but I am hoping it will not fall. I have read some posts in this thread that it will not reach straight $12K from $6K.
Feel like I should pay more attention to this topic since it was a fair call. I still think its the market not whales, just like we attribute human emotions to animals a bit too often we are also envisioning the market as if it were a person with selective ideas and objectives when its just natural progression and its a mass or herd movement in sentiment change not a type of person or select group even.
The gradient from A to B was less steep then drawn, it took longer to reach which would be correct and places us closer to near August where it happened. With a trend, the more points it touches the likely more accurate it is. We're towards the top of this range with the peak 11440 happening fairly recently yesterday, 11828 is the highest weekly bar close I see in this rough range looking back years but mostly its around 11500 if prior volume is relevant right now.
The gradient from A to B was less steep then drawn, it took longer to reach which would be correct and places us closer to near August where it happened. With a trend, the more points it touches the likely more accurate it is. We're towards the top of this range with the peak 11440 happening fairly recently yesterday, 11828 is the highest weekly bar close I see in this rough range looking back years but mostly its around 11500 if prior volume is relevant right now.
A quick drop back to test the lows is what I expect but at present its not expected at all which would make it quite effective in terms of shock value. I dont think we get as high as 11.7k and if we do then its a bigger achievement then the market has achieved so far. I'd have to counter that we got as high as 11.7k then we have further business at that level, it will have beaten this range of some months which then would likely prove as support after we exceed it.
(....)
I am more positive to see $9,000 before $11,700 - $12,000. Maybe we can get more below but this can be happen with again, a huge red candle wicks.(....)
Since July 28, 2020, bitcoin's price still on sideways $10,000+ - $11,100+, this is much better as long as we don't fall again below $9,000 but there are still huge dump effect once we fall again that area, just my 2 cents.
Small pullbacks will be healthy for Bitcoin, let's hope we will not experience a huge wicks, green or red candle wicks.
Im not really that too negative but its better rather than to hope that much market is way too unpredictable. 11,700 isnt really that far off since the price is already playing around 11,300+ at the moment and reaching
$300-400 wont really be that too long but who knows on on what would happen yet huge rejection might or might not happen and able to break it out and proceed to 12k price.
Better to have conservative estimates rather than be surprised on what's coming.
So as a trader/investor you can have your own contingencies and be prepared with what may happen to your funds.
Of course, you need to secure your investments especially that we are still in crisis and losing money is the last thing we want to have.
But, it has been a year that we experienced this price level, and so crypto users are happy for what we are experiencing right now.
Another day, another hope for crypto!
I'm leaning towards $11,500 before we can see a pull back, we have broken the latest highest high for this year at the price is above $11,300 already. And if goes to $11,500, then probably another huge dump of 20%-30% before moving forward to $12k-$15k. That is typical of the market cycles and I would say that this pull backs are really that good in the long run because more hands are going to enter if we see the price below $10k again.
The price broke through and returned from the 10k level so many times that on place of the whales (if there are any) I would sharply raise the price (above 12k) or sharply lower it (below 7k) this time in order for lovers to make money on the "waves" of volatility this time fell into a trap
A quick drop back to test the lows is what I expect but at present its not expected at all which would make it quite effective in terms of shock value. I dont think we get as high as 11.7k and if we do then its a bigger achievement then the market has achieved so far. I'd have to counter that we got as high as 11.7k then we have further business at that level, it will have beaten this range of some months which then would likely prove as support after we exceed it.
(....)
I am more positive to see $9,000 before $11,700 - $12,000. Maybe we can get more below but this can be happen with again, a huge red candle wicks.(....)
Since July 28, 2020, bitcoin's price still on sideways $10,000+ - $11,100+, this is much better as long as we don't fall again below $9,000 but there are still huge dump effect once we fall again that area, just my 2 cents.
Small pullbacks will be healthy for Bitcoin, let's hope we will not experience a huge wicks, green or red candle wicks.
I'm leaning towards $11,500 before we can see a pull back, we have broken the latest highest high for this year at the price is above $11,300 already. And if goes to $11,500, then probably another huge dump of 20%-30% before moving forward to $12k-$15k. That is typical of the market cycles and I would say that this pull backs are really that good in the long run because more hands are going to enter if we see the price below $10k again.
A quick drop back to test the lows is what I expect but at present its not expected at all which would make it quite effective in terms of shock value. I dont think we get as high as 11.7k and if we do then its a bigger achievement then the market has achieved so far. I'd have to counter that we got as high as 11.7k then we have further business at that level, it will have beaten this range of some months which then would likely prove as support after we exceed it.
(....)
I am more positive to see $9,000 before $11,700 - $12,000. Maybe we can get more below but this can be happen with again, a huge red candle wicks.(....)
Since July 28, 2020, bitcoin's price still on sideways $10,000+ - $11,100+, this is much better as long as we don't fall again below $9,000 but there are still huge dump effect once we fall again that area, just my 2 cents.
Small pullbacks will be healthy for Bitcoin, let's hope we will not experience a huge wicks, green or red candle wicks.
Im not really that too negative but its better rather than to hope that much market is way too unpredictable. 11,700 isnt really that far off since the price is already playing around 11,300+ at the moment and reaching
$300-400 wont really be that too long but who knows on on what would happen yet huge rejection might or might not happen and able to break it out and proceed to 12k price.
A quick drop back to test the lows is what I expect but at present its not expected at all which would make it quite effective in terms of shock value. I dont think we get as high as 11.7k and if we do then its a bigger achievement then the market has achieved so far. I'd have to counter that we got as high as 11.7k then we have further business at that level, it will have beaten this range of some months which then would likely prove as support after we exceed it.
(....)
I am more positive to see $9,000 before $11,700 - $12,000. Maybe we can get more below but this can be happen with again, a huge red candle wicks.(....)
Since July 28, 2020, bitcoin's price still on sideways $10,000+ - $11,100+, this is much better as long as we don't fall again below $9,000 but there are still huge dump effect once we fall again that area, just my 2 cents.
Small pullbacks will be healthy for Bitcoin, let's hope we will not experience a huge wicks, green or red candle wicks.
A quick drop back to test the lows is what I expect but at present its not expected at all which would make it quite effective in terms of shock value. I dont think we get as high as 11.7k and if we do then its a bigger achievement then the market has achieved so far. I'd have to counter that we got as high as 11.7k then we have further business at that level, it will have beaten this range of some months which then would likely prove as support after we exceed it. Many would like to rebuy after losing out on this opportunity to buy here, at present people will still be asleep so getting higher will trigger a bullish question that markets will take some months to sort not the quick rejection idea. I think quick rejection is more like 10.5k top then we fail to beat that and so form great disappointment once again.
10491 is the peak for 2020, so not beating that is bearish but if go much higher its a new question and likely new volume form buyers hoping it will continue, creates interest by itself.
10491 is the peak for 2020, so not beating that is bearish but if go much higher its a new question and likely new volume form buyers hoping it will continue, creates interest by itself.
Looks like this scenario could still play out, I confess I considered this one to be invalid a bit too early. With today's move and the RSI reaching a new high, my point (B) (still in a downtrend) could reach around $12k, it is very convenient there is this gap on the exchange market.
After this price there should be a dump at least to $8.5k and my most preferred target is around $6.5k. At that price one should consider to invest big.
My opinion.
After this price there should be a dump at least to $8.5k and my most preferred target is around $6.5k. At that price one should consider to invest big.
My opinion.
i don't see the market hitting $12k+ only to go straight back to the $6000s. bull markets are not ordinarily so forgiving to sellers.
maybe you'll get a retest of $10k---that would be logical. the market will want to see it confirmed as support on the way up. i'm pretty confident that's the lowest you'll see after a move like that though.
Many though that they might won't see the $10k price hit up including me but suddenly things change when market move faster for the past couple of days so provably these things can possibly gotten once this hype will still occur since great things will come once all things is set and the phase will get back to normal.
Looks like this scenario could still play out, I confess I considered this one to be invalid a bit too early. With today's move and the RSI reaching a new high, my point (B) (still in a downtrend) could reach around $12k, it is very convenient there is this gap on the exchange market.
After this price there should be a dump at least to $8.5k and my most preferred target is around $6.5k. At that price one should consider to invest big.
My opinion.
After this price there should be a dump at least to $8.5k and my most preferred target is around $6.5k. At that price one should consider to invest big.
My opinion.
i don't see the market hitting $12k+ only to go straight back to the $6000s. bull markets are not ordinarily so forgiving to sellers.
maybe you'll get a retest of $10k---that would be logical. the market will want to see it confirmed as support on the way up. i'm pretty confident that's the lowest you'll see after a move like that though.
if we could reach $12k in this short time there will only be a weak hand shakeout to $11.5 or something like that before the FOMO kicks in and the rally officially starts without anything stopping it.
the behavior you see (rise then fall the same amount) is because we have been always below a resistance line (that is $10k) otherwise breaking it is THE signal to buy non-stop, there won't be any big drops anymore for a long time.
the behavior you see (rise then fall the same amount) is because we have been always below a resistance line (that is $10k) otherwise breaking it is THE signal to buy non-stop, there won't be any big drops anymore for a long time.
Looks like this scenario could still play out, I confess I considered this one to be invalid a bit too early. With today's move and the RSI reaching a new high, my point (B) (still in a downtrend) could reach around $12k, it is very convenient there is this gap on the exchange market.
After this price there should be a dump at least to $8.5k and my most preferred target is around $6.5k. At that price one should consider to invest big.
My opinion.
After this price there should be a dump at least to $8.5k and my most preferred target is around $6.5k. At that price one should consider to invest big.
My opinion.
Coincidentally, our Fibonacci gives us $11765
But but...Elliott waves...
The analysis behind my short to 5.5k is mainly backed by Elliott Waves theory
I have a feeling you're going to move your B point a lot, from May to June to July till December 2140
well you have been screaming $3.1k price for a long time now and each time price only keeps going up. at this point it is starting to look like you have got a fetish for that arbitrary number because none of the things you have said so far in your numerous topics made any sense.
All wannabe traders have that fetish for numbers and trends they try to see in the previous evolutions.
He's the perfect example that can draw 10 of those with 10 theories on the same interval, come with 10 prices ranges and get all of them wrong
Even though most gaps usually fill, you need to realise some of them take a very long time to fill. Basically I have kept the CME gaps in mind when I am looking to take profit on a trade but I never take a trade just based on the fact that a gap needs to fill.
It's a tiny daily gap from a year ago. It's not meaningful S/R at this point. If the market goes there, I would consider it coincidental to the gap itself and I would expect a bull market to continue above it regardless.
People take the gap fill theory way too literally. Common gaps get filled all the time because they happen all the time. Breakaway, runaway, and exhaustion gaps often don't get filled and once enough time passes, they lose their importance as S/R levels.
Hence don't take these gap traders too seriously. Sure they will eventually fill but the question is when?
Gaps are really dangerous to ignore especially on the very week. If in the next week, a previous week gap might not be too volatile because it would likely follow a gradual correction of the said week.
What I do about gap is to be very careful that week by trading short if it is not in the direction of the gap closure.
well you have been screaming $3.1k price for a long time now and each time price only keeps going up. at this point it is starting to look like you have got a fetish for that arbitrary number because none of the things you have said so far in your numerous topics made any sense.
your view of the market, the whales and manipulation are extremely exaggerated at best.
right now the market is in the hands of day traders and price will neither move up nor down. any whale that goes against this sideways action will only lose money just like many who have already lost their money expecting weird things out of the price.
your view of the market, the whales and manipulation are extremely exaggerated at best.
right now the market is in the hands of day traders and price will neither move up nor down. any whale that goes against this sideways action will only lose money just like many who have already lost their money expecting weird things out of the price.
Why was the resistance level at 9800 to 10300 which the price failed to break last time been ignored? Once this barrier was broken the previous time, we saw a rebound to the level of $ 8,000, but a quick return, which means that we may need more time to break this barrier.
The rest of the analyzes make sense, but I think we will stay at $ 9,600 for several days.
The rest of the analyzes make sense, but I think we will stay at $ 9,600 for several days.
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