Whales don't Short 6K/5k for the same reasons they don't buy 20K
Updated
My current thoughts:
I can't imagine Goldman or any other whale Shorting this much longer. It would be like whales trying to buy the top when BTC was 20K. Would be stupid. We've retraced 70% since ATH. Even if BTC was tulips and died 90% -- they'd only hope to gain an additional 20% from here??? Is 20% gain worth the obvious risk here for a whale?
They are too greedy to be drooling over a 20% Short with dwindling Risk/Reward for bears.
Shorting a close bottom is like buying an obvious top. It's stupid. And no whale with a head on their shoulders would do it ... or would they..:) ? The only further reason for stagnating the price or dropping it further is ACCUMULATION. To own more of the future. If BTC trades at 6K for another few days/weeks, this is more likely to explode upwards -- not downwards. Even if it drops to 5K, you can expect an even more violent explosion from there. Whatever's happening now is just building pressure for an upward explosion IMHO. The more we stay here/drop further, the more violently this is going to erupt.
Remember whales don't Short 6K or 5k for the same reasons they don't buy 20K.
For the HODLers, not a bad time to start building a long-term position.
For the cautious. Your best bet is to trade technicals until direction is confirmed. Short the highs and long the lows.
Disclaimer: I have been wrong before, so do your own research before making a final decision.
All the best!
I can't imagine Goldman or any other whale Shorting this much longer. It would be like whales trying to buy the top when BTC was 20K. Would be stupid. We've retraced 70% since ATH. Even if BTC was tulips and died 90% -- they'd only hope to gain an additional 20% from here??? Is 20% gain worth the obvious risk here for a whale?
They are too greedy to be drooling over a 20% Short with dwindling Risk/Reward for bears.
Shorting a close bottom is like buying an obvious top. It's stupid. And no whale with a head on their shoulders would do it ... or would they..:) ? The only further reason for stagnating the price or dropping it further is ACCUMULATION. To own more of the future. If BTC trades at 6K for another few days/weeks, this is more likely to explode upwards -- not downwards. Even if it drops to 5K, you can expect an even more violent explosion from there. Whatever's happening now is just building pressure for an upward explosion IMHO. The more we stay here/drop further, the more violently this is going to erupt.
Remember whales don't Short 6K or 5k for the same reasons they don't buy 20K.
For the HODLers, not a bad time to start building a long-term position.
For the cautious. Your best bet is to trade technicals until direction is confirmed. Short the highs and long the lows.
Disclaimer: I have been wrong before, so do your own research before making a final decision.
All the best!
Note
Confirmation 1: BTC just broke downward resistance.
Disclaimer
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.