A move from $2 to $8 Wont scare these guys off, who cares if were are buying a big players 4X bag when the next trip is ATH? I hear them cry from the cattle shed of main and the Heavily Biased trading ideas section of this website.
Now with the sentiment of investors Looked at, we can move onto further aggravating factors such as Price action, and resistance.
Price action - Looking at macro time frames its clear the price is being pushed as high as possible and held there for a long while. Followed by a sharp drop and subsequent pump, perfect to catch out early callers of short and trap further longs / fomo moonshot rebuyers who assume they can 'BTFD' and profit all year because bitcoin is clearly heading to $1M USD.
Resistance - Like thors , Similar to the support found at $2 after a brisk walk in the park. Highlighted by grey Rectangles.
- The will look like the titanic loosing her stern in the cold Atlantic sea once retail catch on this inst their trip to financial freedom and B1 have that Gig being built down in Larssen's yard that needs covering.
Target - Sub $1 Welcome to the top of a market