NENEπŸ’ŽπŸ“Š 1 minutes reading from Bitcoin

The whales are dumping us – the whales started dumping us

So this is 2h chart showing the change in BTC price chart as the whales started dumping on us.

A thread.

@WatcherGuru made the most around 1p.m NGN time, so I played back to 1p.m yesterday to study the effects.

The post said 24-hours since they disrupted the market flow.

If you observe clearly, the first bullish candle had the fight between bear and bull normal, with the bull winning victoriously.

It didn't go below the previous candle's lowest price.

Then the fight began properly. The selling pressure pulled down the price successfully

But there was a counteracting buying pressure who refused to let them win.

The buying and selling pressure was so thick, that none could agree whether to let the market go up or down (Harami)

152,000 BTC then reared its head.

You know, "power pass power"

And it pushed the market in favour of the bears, till BTC got to 20,562.62 within 20hours.

The law of demand and supply always apply. If there's excess supply, price MUST reduce.

So watch out for supply coming into the market. Especially, market you trade.


This post is based on this twitter thread.


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