This recent dip was high volume over a period of minutes, i.e. a whale.
There are recent history records on the chart, that show usually a sideways action after the dip, where people are analysing, and then usually a FUD driven downtrend 400 points more or less down, over time, and then eventual recovery when people realize that there are no more whale dips, and the organic market still has growth.
I have taken the most recent two of these events that are the most similar in size and price action, so that you can see my thinking.
Sorry for the lazy and sloppy freehand on the chart. I am home sick today, and do not have the stamina to use the neater drawing tools to make a nice looking chart. But you get the pic very fast here regardless. The whale poops are very similar, as is the short sideways action that we are in now, and I expect an organic downtrend at any moment and I have a short position open currently.
While the dip was not as immediate as in the other fractal patterns, it did eventually follow the same direction and distance. If I had not set such a conservative stoploss to the upside I would have profited from this idea. As it is, I did not lose much, but I am rethinking my usage of stop loss tools, because they could equally be called stop profit tools as well. In almost each instance I was 'protected by stop loss, my overall idea was correct and my position without stop loss would have eventually paid.