When BTC reaches 40K and holders attempt profit taking - the market evaporates and goes into freefall, then, like magic, goes back to 40K.
The real take profit orders are being filled at inflated prices at the ask. If you want out of the market, use a limit order, the bids are shallow.
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Another day of the BTC bulls attempting to take profits. Instead of getting filled at 40K, liquidity evaporates and they're filled at 30K. A very sneaky game.
Slowly seed your position into the ask if you're attempting profit taking, don't just hit the sell button.
The BTC marketers on Twitter, et al, are screaming prices will reach 200K+
But the liquidity has to come from somewhere
Buffet says that after 30 minutes (poker), if you don't know who the patsy is, YOU'RE THE PATSY!
Buying at these levels via bid or market order means you are the patsy (liquidity), because there are a whole boatload of believers needing to get out at a profit while they still can.
Biden has promised further stimulus, some of that will flow into BTC, but it'll likely be the last wave up. Get out while the getting is good!
Once we're post covid and into more normal days, the music will stop.