Whales have to make a down to 5950 to get as much liquidity for the final move up to the 7k region because in the market keeps going down. They break 6k in order to liquidate the fomoshorts to fill a larger position in their longs
Remember chad whale buying up all the bitcoin all the way up to 7300? He Filled his Shorts at the top, MY short squeeze we going to the moon. Who in the world is gonna squeeze them if their is no whale buying pressure left to the upside. Why didnt anybody squeeze the chadwhale's shorts at 7300? You would think some whale would have with that many shorts would be targeted by another whale for a short squeeze would have created a gigantic move up if they wanted the market to go .
Think like a Market Maker. Do a false breakout by breaking just over 7k to get everyone to you fill their shorts. is lowest since Sepember/August 2017 when price was 3 to 5k. The market makers need to take the price lower to increase the in the market to provide more liquidity( look at the ). Look at the weekly order blocks for for the most liquidity for the market makers
remember, this is still unregulated