Why do we see this selloff?

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
We see it because a lot of people bought in in the blue marked area.
We they saw, that they were about to make a loss and the trend doesn't continue upwards they sold.
Simple as that.

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.