Quote from: Mpamaegbu on March 25, 2024, 11:11:52 PM

Quote from: junglist.massive on December 07, 2015, 05:24:36 PM

I realised that small group of whales basicly own bitcoin market and do whatever they want with price. On which indicators I have to watch to follow them? volume only? some shapes on charts?

Don't follow any whale. They will mess up your brain as you will constantly be glued to their wallets as if you don't have a life of your own. In the past I was concerned about that too and on-chain analyses would help in that aspect. It wasn't to monitor when those whales are buying more or selling off what they had. It was purely to check out projects those whales are deploying funds to, and then research those projects if they aren't popular already. In this space, I've come to realize that once a project is being talked about by most people, just know it's already getting late buying into it.

In all these, learning TA (technical analysis) is key. That skill enables one know the likely direction the market could be moving. On TA, the best indicators to use in my opinion are indicators that lead and empower breakouts (BO) like trend lines, pivots points S&R. Learn how to use those and you will be happier you did now. L

However not all people are capable of trading. They are not able to manage their funds due to some stress or technicalities. And that's their last resort is to follow someone who is already making money. There's is nothing wrong with that! In professional terms, that's what you call Copy Trading. As much as you can follow a system, and the person you are following is legitimate then you will be profitable long term.

Most exchanges now are allowing copytrading. Binance I believe do offer copy trading where you can copy trades of profitable trades. Though you may not actually copy whales, you can still have the system of profitable investors and traders.