I know there are people get their profit now, they bought their bitcoin on very cheap price(a lot of them at $1000 and $4000 per BTC) and as the bitcoin's price go high there are many dumping their bitcoins, yes this is how whale works.
Right now a new investors of bitcoin are panic selling their bitcoin in the mere fact that they bought at $17-19k, buy hight, sell low... Guys, you should be calm, there is one fact with which you can not argue. The price always comes back like a cat that was thrown out a 100 kilometers from home. At the moment,Bitcoin have a very strong downtrend, which is sometimes diluted by short uptrends.
I'm 95% sure that the price will be lower in the next 3 months, and that's what I want to advise everyone. Do not trade on a downtrend, wait for buy signals on the daily chart. Wait until the corridor from the 50/100/200 moving averages will be formed, this will be the accumulation period, the best time to open a long position.
Thanks @LudwigStirner, I guess we'll find out soon enough.
Exercise-Discipline
⋅
good work, best analysis on here
LudwigStirner
⋅
@TanayUK, Thanks!
TomPower
⋅
Ludwig, just wondering if it even gets to 10 grand looks like it's rolling over now
LudwigStirner
⋅
@TomPower, I think this is necessary in order to build confidence among the people in the prospects of the Bitcoin price uptrend, and attract new investors. Thanks for the comment!