WHY IS BITCOIN DOWN, STOP LOSS HUNTING = MARKET SELLS
The movement of 22,100 btc this morning plus a rejection from the non log, long-term descending triangle were the likely culprits of the price drop.
Some interesting things are happening behind the scenes, also shorts are up slightly and this may be a stop loss hunt for liquidity with a small squeeze to break the descending trend line.
We had stop losses become market sells on greater numbers than the last big crash on sep 5 when we had the rare td sequential daily 13.
This is usually a time to short but things are different and this support will be fought so need to watch for confirmation.
Some interesting things are happening behind the scenes, also shorts are up slightly and this may be a stop loss hunt for liquidity with a small squeeze to break the descending trend line.
We had stop losses become market sells on greater numbers than the last big crash on sep 5 when we had the rare td sequential daily 13.
This is usually a time to short but things are different and this support will be fought so need to watch for confirmation.
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