Walsoraj
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March 04, 2014, 04:17:27 AM

Just a little more patience before the next leg up. 1, 2 or maybe 3 hours?


I think the whale waits for the bid sum to increase before attempting another pennant.

What do you mean attempting another pennant?

 Huh You messing with me?  Huh

Nope, I don't understand why you say they will attempt another pennant, since a pennant is really just another name for a consolidating range triangle formation. Do you mean to say that the whales are waiting for bids to pile up so that they can dump and break-out of the current pennant that is forming?

That would make sense to me, pump the market to new heights, beef up the bid side, so they have buyers for their coin on the way down.

I don't think your definition of a pennant is accurate. The consolidation and triangle formation follow a breakout. http://www.investopedia.com/terms/p/pennant.asp

A successful pennant should attract new money. Makes sense to wait a bit, then re-pennant.