sophiavyn
Long

Whales don't Short 6K/5k for the same reasons they don't buy 20K

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
146 1 4
My current thoughts:

I can't imagine Goldman or any other whale Shorting this much longer. It would be like whales trying to buy the top when BTC             was 20K. Would be stupid. We've retraced 70% since ATH             . Even if BTC             was tulips and died 90% -- they'd only hope to gain an additional 20% from here??? Is 20% gain worth the obvious risk here for a whale?

They are too greedy to be drooling over a 20% Short with dwindling Risk/Reward for bears.

Shorting a close bottom is like buying an obvious top. It's stupid. And no whale with a head on their shoulders would do it ... or would they..:) ? The only further reason for stagnating the price or dropping it further is ACCUMULATION. To own more of the future. If BTC             trades at 6K for another few days/weeks, this is more likely to explode upwards -- not downwards. Even if it drops to 5K, you can expect an even more violent explosion from there. Whatever's happening now is just building pressure for an upward explosion IMHO             . The more we stay here/drop further, the more violently this is going to erupt.

Remember whales don't Short 6K or 5k for the same reasons they don't buy 20K.

For the HODLers, not a bad time to start building a long-term position.

For the cautious. Your best bet is to trade technicals until direction is confirmed. Short the highs and long the lows.

Disclaimer: I have been wrong before, so do your own research before making a final decision.

All the best!
Comment: Confirmation 1: BTC just broke downward resistance.
Confirmation 1: BTC just broke downward resistance.
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