I could be wrong, and there isn't any real science behind this... simply speculation and observation.... This chart is only moving forward from the drop of 05March. But to me, it seems that the Bears/Whales did not accomplish their goal of <$6k and may be picking up more ammo to drop concentrated fire during the next Take-Profit move? This is purely speculation. But if you look farther back to the drop prior to the 5th, the amount of power in their bearish blitzkrieg was... impressive to say the least.
Idk, I'm simply spit-balling and by no means attempting to spread FUD. But if the Bears did exhaust their stores in the failed attempt this minor correction would make sense.
Idk, I'm simply spit-balling and by no means attempting to spread FUD. But if the Bears did exhaust their stores in the failed attempt this minor correction would make sense.
Note
This image includes the heavy spikes both up and down, starting from the sell-off at $19k and on to 05March
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.