Hey Mindbreak87
Good to see your posts. Sorry to see you are not on this, (potential, likely, imminent...), run. The following observation could be turned into an opportunity I hope you can benefit from.
Just a word of warning to those who may have decided to take a portion of their holdings in profit this time around. All IMO, of course.
As a massive BIT spike gains momentum, there seems to be a point where the price reverses for a couple of days. In the above case, a drop of ~21%. (Note the classic flat bottom wedge immediately following. 'Dow theory' reckons that is a sure sign of a syndicate accumulating at an agreed price. More on this later.)
In the below case, the drop is closer to 50%.
If anyone has any insight as to why this happens, I would very much appreciate your speculations.
My first guess is that there must come a time in a small cap rocket whereby no-one wants to sell. That might be when the bigger fish, (having steadily accumulated shares for this purpose, see first chart.), start shorting and spreading negative stories.
Anyone setting a following stop too close or too early will provide a big pot for the big fish to scoop up a big feed, usually out of hours, when the mum and pop show is locked out.
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Hey Mindbreak87Good to see your posts. Sorry to see you are not...
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Last
3.4¢ |
Change
-0.001(2.86%) |
Mkt cap ! $30.67M |
Open | High | Low | Value | Volume |
3.5¢ | 3.5¢ | 3.4¢ | $16.72K | 479.1K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 88413 | 3.4¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
3.5¢ | 73009 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 88413 | 0.034 |
3 | 240312 | 0.033 |
4 | 842406 | 0.032 |
3 | 390500 | 0.031 |
9 | 670666 | 0.030 |
Price($) | Vol. | No. |
---|---|---|
0.035 | 73009 | 3 |
0.036 | 65500 | 1 |
0.037 | 537816 | 2 |
0.039 | 490546 | 3 |
0.040 | 113240 | 2 |
Last trade - 15.48pm 16/07/2024 (20 minute delay) ? |
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BIT (ASX) Chart |