Where did most of the "Smart Money" get in after the 6k dump?
How smart is "Smart Money"? If you do a volume profile you will find out they are very very smart.
According to the volume profile chart, after the 6k dump the vast majority of the "Smart Money" piled in at the bottom, around 3794. Think about it. They got in even before the April 1st 25% price surge from 4k to 5k that woke us all up that we hit bottom and were going up. The smart money knew about it a month earlier and more importantly, the surge at 4k did not entice them to buy more!
Some more money tricked in at 4k and 8k (general public) but after that, the large volume purchases were gone. After 8k all we were left with was the price manipulation. That's why the "Smart Money" are not panicking about the price fluctuations we are seeing now. They got in at the very bottom and have been sitting on the sidelines enjoying the whale show.
Picture this. You are at Sea World with the "Smart Money" sitting high above you in the box seats enjoying the Orcas diving and splashing about in the large pool. Every so often to liven things up "Smart Money" will throw in a few spectators from the public into the pool so the Orcas can gobble up their Bitcoin. The price can drop from 12k to 10k and it doesn't matter to "Smart Money". The price can even drop from 10k to 8.5k or even 5k and it won't bother them a bit. Why not? Because they got in at 3.7k and are in it for the long term. They know the BTC price will eventually reach 100k and perhaps even $1 million. They bought their tickets in Feb/March and have been enjoying the entertainment ever since. If the price does drop to 8.5k or even 5k there will be a lot of blood in the water. But rest assured, it won't be theirs.
Don't forget to hit the Like button on your way out.
According to the volume profile chart, after the 6k dump the vast majority of the "Smart Money" piled in at the bottom, around 3794. Think about it. They got in even before the April 1st 25% price surge from 4k to 5k that woke us all up that we hit bottom and were going up. The smart money knew about it a month earlier and more importantly, the surge at 4k did not entice them to buy more!
Some more money tricked in at 4k and 8k (general public) but after that, the large volume purchases were gone. After 8k all we were left with was the price manipulation. That's why the "Smart Money" are not panicking about the price fluctuations we are seeing now. They got in at the very bottom and have been sitting on the sidelines enjoying the whale show.
Picture this. You are at Sea World with the "Smart Money" sitting high above you in the box seats enjoying the Orcas diving and splashing about in the large pool. Every so often to liven things up "Smart Money" will throw in a few spectators from the public into the pool so the Orcas can gobble up their Bitcoin. The price can drop from 12k to 10k and it doesn't matter to "Smart Money". The price can even drop from 10k to 8.5k or even 5k and it won't bother them a bit. Why not? Because they got in at 3.7k and are in it for the long term. They know the BTC price will eventually reach 100k and perhaps even $1 million. They bought their tickets in Feb/March and have been enjoying the entertainment ever since. If the price does drop to 8.5k or even 5k there will be a lot of blood in the water. But rest assured, it won't be theirs.
Don't forget to hit the Like button on your way out.
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