No, too late to buy.
Is this a start of a bull market? No, it's not.
The bottom is in? Nope, it's not.
Why it's pumping? Who bought? Nobody. There were no sellers and thus market maker is offering higher prices to the willing sellers. Retail sell stops are getting triggered and whales are selling to those stops, whilst retail is in FOMO mode, buying those green dildos in hopes of a new bull run to 100k. In my opinion, we are witnessing a classic market maker sell model:
1. Shorts are getting trapped.
2. Not giving a chance to go long by correcting downwards.
3. Too much liquidity underneath + too clean support levels.
I think the whales are getting rid of BTC by selling to willing FOMO retail players and BTC will go lower at least to the 7k level to cover those gaps.
Is this a start of a bull market? No, it's not.
The bottom is in? Nope, it's not.
Why it's pumping? Who bought? Nobody. There were no sellers and thus market maker is offering higher prices to the willing sellers. Retail sell stops are getting triggered and whales are selling to those stops, whilst retail is in FOMO mode, buying those green dildos in hopes of a new bull run to 100k. In my opinion, we are witnessing a classic market maker sell model:
1. Shorts are getting trapped.
2. Not giving a chance to go long by correcting downwards.
3. Too much liquidity underneath + too clean support levels.
I think the whales are getting rid of BTC by selling to willing FOMO retail players and BTC will go lower at least to the 7k level to cover those gaps.