Amid the previous couple of hours, there were numerous endeavors to outperform the $8,600 resistance by bitcoin price against the US Dollar. The BTC/USD match attempted to pick up energy above $8,600 . Now it seems the buyers are not powerful and we can see a downtrend on the BITCOIN.
Care that R/R is 5 in my forecast!
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@RoDtox, agreed. The more I stare at these charts the more I believe whales are going to pull the plug again for another epic dump. Why? because it's simple and it works. Show me another market where you can cause a 30%-50% drop at will and gain over 100% ROI yearly. I think whales will be looking to go under 8K again very soon and possibly much lower. Every time dumps happen whales double their buying power which means the possibility of it repeating increases for two reasons:
1) profit potential
2) the fact that they have effectively doubled their capital, which makes it easier for them to repeat, and so the cycle goes on for ever.
My question to all the krill out there is: What would you do if you were a whale? If you follow the whale it can never eat you. TLAW: think like a whale.