Hey meesterboom great post and thanks for sharing, do you have a whale combat strategies? Ive learned a couple techniques but sometimes I get eaten!
You are viewing a single comment's thread from:
Hey meesterboom great post and thanks for sharing, do you have a whale combat strategies? Ive learned a couple techniques but sometimes I get eaten!
Lol, I have never even considered a whale combat strategy!!
O ya, I have a love hate relationship with whales. Sometimes they get in my head and make me trade against my own strategies. I watch them in the order books trying to study there psychology but they are very tricky lol
I thought they were mostly bots running on predefined parameters! Well good luck with the battling!
bot's are typically the small orders and micro orders closing gaps. but whales u can see in the form of buy/sell walls and pump and dump strategies. lol sometimes they blow steem right out the blow hole haha
It is actually possible to spot the manipulation taking place by watching volume characteristics on the live bitcoin ticker. These are sell orders this morning for instance. Those 2 large volume spikes at 8:45 and 9:15 AM EST.
http://bitcointicker.co
After bitcoin went thru the 2 day beat down on the Th n Fri going into Memorial day the "manipulation" was rampant over the following two days. There were HUGE volume spikes at teh lows of each selloff as price swings were as much as $200. The volumes overall picked up quite a bit the past week. It leads me to believe that the big players were positioning for some sort of news announcement that would drive prices higher. It may just be that since everybody in teh world (besides me) who is doing technical analysis on bitcoin was advising that people wait for $1800 to add to positions so the big players stepped in before that level was reached...forcing new buyers to chase this rally before the major selloff begins. I did 2 spews outling volume characteristics on teh live bitcoin chart. One of them bought the low on the Memorial Day weekend Sat that resulted in the biggest % move higher that weekend
There you go. It didn't take long for those 2 volume "sells" to work their magic. Bitcoin now trading at 2522 and the spikes both came in at 2540+. So now you simply look for a volume spike at a low to generate a rebound. I wouldn't daytrade bitcoin like this. But I did post a bitcoin daytrade system which I put into effect only when the OTC exchange traded bitcoin tracker GBTC generates a buy signal. That program issues a single buy each day while GBTC is still in buy mode. A limit to sell $50 higher is then set or the position is sold at the next 24 hour buy price. In other words, 1 buy, 1 sell per day. That system generated a banked gain of $956/coin over a 20 day period when GBTC was in buy mode from below $1500. It has been deactivated for now until GBTC is back in buy status. But the daytrade program is documented in my blogs here.
I'm surprised how much teh trading volume has tailed off. Nonetheless, the ones doing the "manipulating" stepped up with a volume buy at 4PM EST and if you followed that buyer you are about to bank $50/coin. If you want it. But examine what I showed you anyway. The volume sell ended up taking bitcoin dooown and it was fruitless to step in until that volume buy came in at 4PM EST. It's not that difficult to trade bitcoin as far as "knowing" when to buy and sell if you are daytrading it. Making teh actual trade thru your exchange is likely the most difficult part of it. :-)
http://bitcointicker.co