When you luck out

You may or may not have heard this piece of advice before, but in any case it's worth mentioning again. Always be ready to catch the fat fingers. Yes, sometimes something kind of crazy happens in the markets and people for one reason or another dump into buy walls that are ready to soak it all up.

Just today for example, someone or a group of people, decided to sell about 1500 BTC on market price on Kraken, an exchange that has been around for a long time now. Now, Why would someone sell that many BTC in one go? I have no clue to be honest, but it's likely it was a mistake. In other words, I suspect the sale was meant to be smaller but someone not paying attention really fudged the stew.

So, as we can see clearly from this little chart, all of the sudden a long yet skinny candle lasting about a minute, dumped about a $1000 off the current trading price, and then moved right back up. This means in simple terms, some people today got a massive discount on BTC, and they could at this point in time sell for nice profits if they so wanted.

Does this symbolize we are about to dip hard? It could, but I sincerely doubt it, because the buy walls, the people who are attempting to acquire BTC for lower prices, seem nice and strong in all the order books I've been looking into. So we could say this is somewhat of a black swan event, and that would not be hyperbole.

It's really a patience game my friends, but this strategy is not a bad one at all. I have a couple of buy orders on STEEM for example, in case we get another flash crash. Nothing major, nothing too crazy, but who knows. Nothing wrong with being on the lucky side.

MenO