watching those bitcoin price break outs for years. what I do not get is who is selling? why sell on a breakout in a bull leaning sentiment? price was consolidating for weeks. are those only stop losses and shorters getting liquidated? it looks like if there are still traders placing shorts, trying to get the price down. why?
It’s because there are actually very few sellers that the price shoots up. There’ll be a few badly coded bots, delusional habitual shooters, “I know better” TA types, and some profit-taking traders (price has tripled in a few months), but Mr Market is having to look much higher for enough sellers.