Bitcoin whales shakeout on the weekend!
Do not trade on weekends! It is rule n.1 :)
We had nice whales shakeout. It means due low volume can make small sell big move. Many people had high leverage longs, because bitcoin was on strong trendline and they had stoploss below this trendline.
Small sell caused a avalanche of selling due of many sl below this trendline.
Second thing is everybody was bullish but volume was going down means nobody was buying.
If you compare Bitcoin with Doge coin you can see that btc had bigger drop down. Why? Because btc traders are using leverage contract and don´t buy bitcoin like coin while doge coin "traders" are kids and retail traders and they buy coins and not contracts.
Now is better to take relax and wait for Monday:)
We had nice whales shakeout. It means due low volume can make small sell big move. Many people had high leverage longs, because bitcoin was on strong trendline and they had stoploss below this trendline.
Small sell caused a avalanche of selling due of many sl below this trendline.
Second thing is everybody was bullish but volume was going down means nobody was buying.
If you compare Bitcoin with Doge coin you can see that btc had bigger drop down. Why? Because btc traders are using leverage contract and don´t buy bitcoin like coin while doge coin "traders" are kids and retail traders and they buy coins and not contracts.
Now is better to take relax and wait for Monday:)
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