Failing pumps... whale capitulation incoming?
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So what I've noticed over the last couple of days is quite large efforts to push price up in the hopes of large bull traps for whales to offload into the market. This also goes some way to explaining why the previous correction went so high (45.5k), when the market is still looking very bearish in the atmosphere of global recession.
As distrubution phase pumps fail (like these) we should expect whale capitulation at some point, leading to horrible drops in price.
As distrubution phase pumps fail (like these) we should expect whale capitulation at some point, leading to horrible drops in price.
Note
of course from my previous TA below, we are about to start wave 3 of 3, so this ties in nicely with that. all aboard for wave 3!
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