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.
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!
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