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Neutral - Mr Whaley Stop Hunt update

Hi, I'm updating this Idea based on the hourly. As noted in a previous Idea, this overlays an example of a stop hunt / trap. I also noted that when Iast saw this trend I got it wrong and the trap trend failed and the market dropped a lot deeper! That's probably because I'm a novice so just highlighting the possibility rather than a forecast.

The reason I'm thinking this trend is now valid is that in November and December we saw great gains with little consolidation thus there are only a few, concentrated price areas and they are weak, perfect for a trap. Also there is some nice FUD in the market about Death Crosses, etc to get the HODL crew selling.

I'm updating on an hourly as I think we are near the bottom* but there is another drop to come and it did not show very well on the daily. Yesterday I thought there maybe a 1,000 point drop based on the end of February event (Future/similar pattern) but I thought the big guy might leave the 7,000 mark for a month or two as bate for the next 5,300 target (everyone will see 7k as support) so I've held back from investing everything at 7,350- 7,400. My estimate is now 6,950 - yep, it will break the 7k mark as this is where many stops will be - My guess is that Mr Whaley owns those buy orders at the 7k mark and slip around the back to liquidise the small fry.

I'll be watching 12:30 CET tonight with some keen interest. I'm off on Easter break from tomorrow afternoon.. hopefully with the Futures folk/sharks ;)

* Bearish overall but expect a short term opportunity.
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hit 6,980
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time to go up for a bit once the buying is done. if it is buying now, a drop to 6k would not make sense right?
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sell volume looks like it is normalising
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According to the overlay, after the second dip (now) we should go back to 7,300. If it drops below 6,666 i'm gonna get nervous!!!

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