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Topic
Board Trading Discussion
Re: How to read whale alerts?
by
btcsmlcmnr
on 06/04/2021, 02:12:04 UTC
For example, I see an alert like:

"🚨 500 BTC transferred from unknown wallet to Coinbase"
What do you get from this alert?

It is a big transaction on bitcoin network. How that 500 BTC will be used in the future (near or far)? Sell on Coinbase? Or to move back to unknown wallet not on Coinbase or any exchanges? Or it is simply a transaction for news?

A same 500 BTC transaction can give you different thoughts in different market. When the market is falling, you will think it is a transaction to cut off loss or to dump price of  BTC. When the market is rising, you will think it is a transaction to take profit. Price can be stable or rise higher.