Capri coin has a tiny market cap and low volume. The order books are quite thin making it the perfect candidate for a whale to pump the price. In the weekly chart this coin has formed a descending wedge shape, meaning downward momentum is dissipating. A few days ago, this coin saw an intense burst in volume, over 15 million, or five times the market cap of the coin at the time. To me this intense burst in volume is indicative of a whale pushing price.
It's important to look at volume to see the clues these whales leave. There have been 2 bursts in volume after the initial pump and we've seen relatively large moves as a result. In my opinion, this is the whale clearing sell limits and preparing for his next pump. Targets are stratosphere, but for now I'm focused on this local bottom. If we break out I will update the chart with targets.
It's important to recognize when Whale's are in the water because it's the only sure fire way to KNOW where prices will react. If someone has the means to defend the price at which they purchase, they will.
Best, Alex
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If head and shoulders doesn't hold up there is a huge buy wall at .0000700 so price will find support there. Last pump happened 12/23/2015 and rallied until 1/25/2016.
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The range is extremely tight. We will break out very soon.
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Here are my targets.
They are based on structure. These are just an idea because its hard to say how the price will behave once reaching these levels. I will be taking profit of around 15% 1st target 20% 2nd 25%3rd and I'm not sure for the last targets it just depends how price is moving.
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Well I made a whole idea comparing this bottom to the Wyckoff Cycle but TV decided to glitch. Accumulation should be over now (finally).
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Breaking out!! Also here is the wyckoff i talked about
Thank you for this post. If we break out, would love to see your targets.
Also, I'm kind of unsure of what percentage to take out at each target in this particular case. If you wouldn't mind telling your approach, I, and maybe others as well, would appreciate. Thank you once again.
WhaleWatchersTrading
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@RicRod, I wrote some possible targets and percentages in the idea feed. Thank you for your comment.