Bitcoin Update - Support Area
➖ Wednesday, 10/27/21 @ 10:00 AM CT
➖ #Bitcoin seems to have made a deeper correction. We are currently at the Support Area, which was a prior Resistance Area. I believe we will hold here. I am a bit shocked we even made it this far. The only way we get a big correction is if big Whales sell their Bitcoin. I don’t see that happening until after we are well above the All Time High. They did not accumulate Bitcoins all summer and throughout September to sell it all right here and allow other whales to scoop it up and ride it to the moon. I just don’t see that happening. Big whales will continue to hold. This is likely just little whales selling out of fear. It shouldn’t take Bitcoin down too far.
➖ Wednesday, 10/27/21 @ 10:00 AM CT
➖ #Bitcoin seems to have made a deeper correction. We are currently at the Support Area, which was a prior Resistance Area. I believe we will hold here. I am a bit shocked we even made it this far. The only way we get a big correction is if big Whales sell their Bitcoin. I don’t see that happening until after we are well above the All Time High. They did not accumulate Bitcoins all summer and throughout September to sell it all right here and allow other whales to scoop it up and ride it to the moon. I just don’t see that happening. Big whales will continue to hold. This is likely just little whales selling out of fear. It shouldn’t take Bitcoin down too far.
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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.