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.
Posted Using LeoFinance Beta
