Looking at the depth chart on GDAX, I'm seeing a huge what looks like artificial Sell Wall at $9000 then a staggered smoother incline up until around 10k. Anyone else see this as an indication that there will be a downward deflection around 9k - 10k, looking for another bottom?
Well remember London will be waking up in a few hours , we have gone up higher today now holding, the money has run out hence the low volume, but when London wakes up and see's it holding this level I guess they will buy pushing the bulltrap even higher , so I guess it will go over 9k before dipping again.
harshdose
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@Grokz, I agree, and there may be truth to people in different time zones waiting up, but the whales world-wide don't sleep! I'm 50/50 on whether it'll punch through 9k. Heavy resistance at the moment; frankly I'm hoping it rebounds and we see another attempt to try and find a bottom. we'll see what the day candle looks like at close as well, which would be another indication.
BethanyJoy
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Chiming in to say I saw it at $900 on ETH on GDAX. Trying to figure out whether or not to sell before I go to sleep. We will either shoot right through it or fall. Low volume over the last few hours has me skeptical.
harshdose
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@BethanyJoy, Yeah I noticed the low volume as well, and I agree it makes me skeptical of it will push much above 9k before turning down drastically again. I haven't been much as I've been working, but these are great opportunities for scalping on the way up and hopefully shorting before there's a large dip.
BethanyJoy
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@harshdose, I work too, and I’m a single mom so obviously I can’t always be in the right place at the right time, but I have luckily made some money scalping over the last few days. And I agree- MPC is a fantastic analyst. I’ve been following him since he got here. Happy trading!