Looking back on 2018, we’ve seen a series of Guppy rallies. When price dropped low enough, market markers would come in and prop it up. This would spark the interest of retail investors who started buying. Market makers would then sell once they thought retail was done buying. This left “guppies” holding the bag while sparking a sell off. Market makers wold then rinse and repeat. The problem is, this left less and less guppies with each rally…as can be seen on the chart below.

This latest rise in price was due to fears over Tether, as well as a major short squeeze. While shorts got liquidated, longs dropped as well. This tells me retail investors are getting wiser. We’re running out of guppies. Shorts are now starting to stack, while longs remain fairly stagnate.

Price is sitting just below the top of the larger wedge. It’s been respecting that resistance for a couple days now.

In today’s video analysis, I discuss what to expect next, where I’m placing my buy orders, traps to avoid and MUCH more. I hope you find it helpful.

Video Analysis:

I hope this has been helpful. I’d be happy to answer any questions in the comment section below. Until next time, wishing you safe and profitable trading!

Workin

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Responses

  1. VG

    I like how you explain things in your videos @workin20005. And I’m always telling people “If someone is losing, someone is winning.” I don’t think they understand that.

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  2. voorash

    Nice video. I always read your posts but never actually watched the video until today. I’ll definitely be paying attention to your videos going forward. I think the only thing I might disagree with is the wick on that candlestick that shot through the roof when the tether panic was happening. When I started this comment I was thinking that it should just be ignored completely but as I think about it I started thinking more about Tether. I am also not a spreader of FUD but if people really start bailing out of tether we could see huge flows back into all the other cryptos and I mean huge in a way that makes that spike seem like nothing.

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    1. Workin2005 Post author

      Thanks Voorash. Yeah…the latest rise in bitcoin (and most alt coins) was largely due to people running from Tether. That said, if Tether goes under, that would decrease liquidity, likely causing price to drop in the short term. Regardless, it should be an interesting 4th quarter.

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