How to interpret the chart?

i wanna know too.

news.bitcoin.com/otc-trading-whales-bitcoin/

keep in mind that the price on exchanges is heavily manipulated by these guys. They can make the price fall or surge just before buying OTC. Lots of insider knowledge things going.

I don't know if that guy is being serious or not, but whales do trade on the exchanges

Maybe he's giving you guys a subtle hint, or maybe he's completely naive, but you DO see pumps and dumps on literally every single coin on rotation.

Pumps and dumps are how whales make profit. They make the market. Learn to ride the whales and spot real vs fake buy and sell walls and their short term/mid term effects.

For example, a fake buy wall that just formed (see LTC to USD market depth) will push the price up in the short term

One that's already been there (BTC to USD, ETH to USD/BTC) after a pump will get pulled and the price will tank

thanks for writing that

Yeah you do see a lot how whale bids and ask poppin up tryin to scare each other but most are fake and get pulled anyways

noticing more smaller values accumulating on either side is better imo

you are talking about 28.90 on LTC? I see it. So how would you know when to sell out before the whale does?

I'll have to read about the difference between real and fake walls

If I want to buy or sell bitcoins, I will never do it on these shitty exchange scammers sites which regularly go on maintenance during dumps (like coinbase every single time), lose funds or dont credit accounts. I will go to my trusted local bitcoin dealer and do it OTC, by bank transfer or cash because it's legal in my country

>So how would you know when to sell out before the whale does?
you can't, it's like stock options, they also have insider knowledge and every trick in the book (like colluding with the exchange owners before important transactions) to make profit because it's totally unregulated.

Some financial moguls who have been convicted to manipulate the stock markets (who received fines over billions of $) are doing their shenanigans with bitcoin. Can't name names but you get the picture.

You will see the buy wall move significantly backwards.

there are other signs, but it's very difficult for newbies to really tell when; try reading about MAC-D, bollinger bands and dojis on investopedia for some technical indicators

A general sign to sell is when it is behaving like ETH is right now.

Now, I cannot say for certain ETH is done it's pump, and I'm not risking shorting it, but it's been stagnant for a day or two now. That's far too long a time to be stagnant if you're still pumping IMO. XRP behaved the same way before it crashed.

There's also this delusion you see on the boards, mainly about the flippening. When people start getting greedy and delusional like this, it's also a good sign to sell.

If it spikes significantly, then drops significantly, and then goes close to that peak again, that's also a good time to sell.

Honestly just set a reasonable sell, stick to it, and just watch the market and learn first hand.

A wall is placed so that the price doesn't get under a certain price (e.g. 300). Everything under that price is bought. (Or a sell wall: Everything above that price is sold). People believe the price is 'stable'.Then, most of the times in a matter of minutes, the wall is broken and manipulated down. Wales buy all the cheap coins and by the time average Joe looks the price is just underneath the 'stable price'. He thinks it will go further down and sells. But then the whale manipulates the price back to the 'stable' price and holds the walls for some weeks untill average Joe decides to buy again " 'cause it's stable" and he doesnt want to miss the boat. Whale wins and becomes more whale. Patient players win too though, just don't buy higher than the price you sold for and have some patience.

I do go after the order book most of the times but from what I've seen lately it's unreliable in both high and low volume markets. In high volume markets it changes a lot within a few seconds, in low volume markets sometimes it just ignores it.

There is a blue line and a gray line in the MAC-D indicator on crpytowatch. which line is which?

My investment is in ETH but I'll admit I dont want to sell when it was just $400. I hope it wil lclimb a bit more in the coming weeks and I'll cash out then, but I may put up a sell order to protect myself.

>Then, most of the times in a matter of minutes, the wall is broken and manipulated down.
You mean to say that the whale cancels their buy order before it goes through?

I'll keep that in mind. Day trading does seem to be daunting.

Depends on you. Veeky Forums is biased against it from what I've seen.
Here are my results so far.
I've had some profit for a few days even during the crashes.
All the experience on actual day trading I've ever had was practicing for a few days on blockfolio.

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