Dump follows high

It is a phenomenon we will have to get used in the next few weeks, Bitcoin searching to breaking its previous high, succeeding after a bumpy run, to be dumped hard immediately after breaking the record.

It’s now the second tim in a week this has happened, and it probably will happen a few times more in the next months to come. The selling pressure is very high at the 70000 USD mark. And this is the result of that situation. Bitcoin loses a few thousand dollars in value in a matter of seconds. Because a lot of sell orders are put just above that all time high. It is called, taking profits.

Through the wall

But once Bitcoin will be able to break through that sell wall, it will shoot immediately above 75000 USD if not higher. Especially because a bunch of shorts will get eliminated and will squeeze Bitcoin into an epic green candle!

I can’t wait for it to happen!

Sincerely,

Pele23