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RE: Bitcoin Technical Analysis: Could be about to break up, or break down soon?
- Some big whale guys have to cash out at some point - The price will drop
- Price is going down, i don't want to lose much money so i sell now - the price will drop.
- OMG i lost over 25% , price is going down so i will be liquidated, let me sell - the price is going down.
- I had been liquidated - the price is going down.
So that's why any coin will have big ups and downs. :)
Just hodl and chill - lol :)
Yes, I agree: when we've seen a 10x increase of the last 6 months in crypto there are still a lot of people that will want to take their profits. I've heard this phrase before: 'the price has to go down before it can go up again'. I.e., it needs to go down low enough in order to shake out everyone who might still be thinking of selling - and only after that can it have prospects of reaching a new high!