I've read someone wrote that whales are currently creating a false impression of a bull run in the market.
Does he have basis to say those powerful words?
Let's ponder on the thought 🤔
To make it simple, he is saying that the current rally is a bull trap. Meaning this rally is staged by the whales to trick the bulls, and consequently, liquidate their long position.
So, do they have basis to believe that the current rally is indeed a bull trap?
I say negative. The daily KDJ oscillator has detected FOMO or panic buying at the 71k zone. What does this mean? This means that whales and several retail investors are buying at 71k. This recorded a huge quantity of buy inflows.
With this data in mind, common sense will tell you that these whales and retail investors will never sell at a loss. Most likely, they sell and call it quits at 20%-30% profit or even more.
FOLLOW for more.
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