24.10.24 Whale Index
2024-10-24

Hello, I'm Whale Signal

Referring to the purple whale indicator in the last four-hour Bitcoin chart analysis, the upper tail resistance occurred several times and eventually failed to break through, accelerating the downtrend

As a result, Bitcoin saw a huge drop of about $2,300

At the time, I mentioned the possibility of going down to the 64K to 62K section in case of further decline, but unfortunately, it has not reached that section and is showing an upward trend again

However, the $2,300 drop was enough to generate revenue from the next day, and if you've used whale indicators to realize profits, congratulations


Now, it's time to pay attention to the Bitcoin hour chart

That's why we believe an important position is being formed right now

1. This is because the bottom tail was formed along with the trading volume where the sales overlapped during the recent downtrend. This can be interpreted as a sign of the market's willingness to rise

2. Since the trap, it has re-entered the market and continues its short-term upward trend, so it is necessary to carefully examine whether this trend will continue without breaking it

3. It also coincides with the Fibonacci 0.382 interval for the recent uptrend, which can expect a stronger rebound


In particular, it is important to closely observe the movement in the retest section if it settles on the white whale surface on an hour stick basis

Since it is a position that has been resisted several times, we cannot rule out the possibility that if it continues its uptrend by breaking through the highs on the white whale index and Dow theory, it will open up further upside sections


Conversely, if we don't consistently break through the white whale indicator and continue to decline further, we'll need to closely monitor market conditions once again and devise a more cautious trading strategy


I hope you will respond carefully to the Bitcoin movement in the future and wish you a successful sale



*I don't share a point of view. It's a personal opinion, and the whale indicator simply points to support and resistance. I hope you guys take a RBI single through the whale indicator in your analysis*

*For more detailed analysis and real-time updates, please check the real-time chart sharing guide link below*


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1. The whale indicator simply points to support and resistance
2. Please refer to the whale index to find a trading RBI suitable for your analysis
3. The shape of the rod finish is important for whale indicators, so checking the closing rod helps with a stable trading strategy
4. Whale surface intensity is in the order of purple > orange > white, with purple surface indicating the strongest support and resistance