Bitcoin (BTC/USD) Massive Bitcoin purchases average $ 9500 dollars. Is it already a support price? Why?

Today I bring you the data of an investment group that has massively bought Bitcoin before halving and all the Bitcoin offer that miners have produced after halving and more.

Grayscale Investments

We will analyze the price with these data, bullish trend line and mining capitulation marked by the Hash Ribbons indicator.

Let's see

In the last week we saw the start of a mining capitulation in which the miners sold more of the bitcoin they produced and that if it had not been absorbed by the market, it would have pushed back the price of bitcoin

We also saw with the days that the price did not go back for this oversold except for some spike in the last days.

Well now you know who was buying Bitcoin in bulk before halving and post halving

Grayscale Investments Established in 2013 by Digital Currency Group, Grayscale is a trusted authority on digital currency investing.

source: https://twitter.com/GrayscaleInvest/status/1269008129511043074

Grayscale’s Bitcoin Trust now accounts for 4 Billion of the fund’s total assets-under-management. The Bitcoin Trust AUM is up $ 1.7 billion from December 2019, proving the growing interest in digital assets.

Graph of produced by miners

Of the 6,573 Bitcoin Was Mined Last Week, Grayscale Bought Over 9,500 BTC

To total 19,200 BTC since halving, purchased from what was produced by the miners

In total Grayscale added 9,503 BTC to their Bitcoin Trust since last week (28,413 BTC since the halving).

source: https://twitter.com/kerooke/status/1268642107486593024

With these data we can analyze the bitcoin price chart before and after halving

We see that the Hash Ribbons indicator has marked the pre-Halving and Post Hasving mining capitulation.

We also see an uptrend line that the Bitcoin price has respected so far. But now we know why Bitcoin's price has not broken this bullish trend line.

Let's analyze the mining capitulations, uptrend line and mining capitulation marked by the Hash Ribbons

As we see in the graph we see upward pressure points coinciding with the bearish pressure of the miners that is absorbed by massive purchases of bitcoin as evidenced

Keys

The massive purchases of Bitcoin by groups of investors has not only pressured the price rise but has not allowed normal corrections to be made at the end of 5 waves of elliot that could have broken that trend line.
Mining capitulations are not causing significant drops in the price of Bitcoin
Bitcoin price continues to stay above bullish trend line

These investor groups are buying bitcoin en masse, I don't think it is to sell them in the next week.

I leave you this question and tell me what you think. If you are buying bitcoin massively from $ 5000 approx. They don't drop the price and keep buying at $ 10,000 and the price has already reached $ 20,000 in previous years. At what price do you think they will sell?

One thing is for sure these investors wait not a week, a month, they wait what is necessary to wait to sell at the value that they already have as a target.

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READ DISCLAIMER: this publication / analysis is only for general information purposes. I am not a professional trader and I will never be a financial advisor. The material in this publication does not constitute any trading advice of any kind. This is the way I see the paintings and what my ideas are. Perform your own analysis before making an investment decision. Use money that you are willing to lose if you make an investment. If you make exchanges or investments after reading this publication, it is entirely at your own risk. I am not responsible for any of your gains or losses. By reading this publication, you acknowledge and agree that you will never hold me liable for any of your profits or losses.

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