What are the whales doing this week and where do we go?
Strange behavior of the BTC Whales these last few days.
We are in the tenth week of red candles, although today, with two days left to finish the week, the current candle is timidly green.
However, we have reached the ATH in terms of BTC purchased by these whales since I have been monitoring them, since September 2021.
220,000 BTC bought vs. 47,000 BTC sold...
And that means that these entities buy 4.6 times more BTC than they sell, accumulating more and more wealth while the crypto king still seems to have not found a safe bottom to bounce off of.
Although it is also true that there are very few active addresses, from those that are active, at least 72% of them are buying, at a discount.
Where do we go?
On the other hand, the support at $28,000 has been touched multiple times already and we could well expect a respectable bottom at this level, however, if these whales were looking for liquidity, the best levels seem to be at $19,000 if we look down or at $32300 if we look for them to the upside...
On the downside, there are no stable supports between $28K and $19K.
Upwards, at $32,300, the liquidity that may remain could still invite some losers to sell "losing less"...
With which, I contemplate the following "worst case scenario" as quite likely:
As always, this is not Financial Advice and blah blah blah...
*Disclaimer: This is just my personal point of view, please, do your own assessment and act consequently. Neither this post nor myself is responsible for any of your profit/losses obtained as a result of this information.
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My target for this bear market bottom is around $19K. I posted this a few weeks back but at the time I didn't get many agreeing. Chances are we run quite far in the massive falling wedge on the weekly. A bottom at $19K with a breakout at approximately $22K would be reasonable. However, the wedge runs all the way to 13K...
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Yep, 13k is in my radar as well, however, I think 19K bottom is more likely to happen
19K? am not expecting that low but if it does happen I will add some Hive to my bag, which could see Hive at around 20 cent maybe...
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can't wait to buy me some cheapo bitcoin :)
When the price of Bitcoin goes back to 22000, they are not going to buy because, they are going to say that it will continue to fall, or they will wait for it to come if it made a wick to 13000 again.
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