Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

It's annoying to look at substantial buys that trigger a ton of sells as soon as barely touching $112k right now.
A bit more momentum and shorts would be eaten up in a short while.

Eh it's just the weak hands shaking out at 111k.

HODL.

Question is..why there are those "weak hands" at a seemingly irrelevant value of 111K? A rhetorical question.
My "proposed" local top of, hopefully 216K, might occur if and when MSTR joins SP500, which could be in September.
Interestingly, there was a local top (the first in the double hump in 2021) when Coinbase IPOed.
Some people started talking about $444-475K (or 0.444-475M Grin

), but for now this seem a bit excessively optimistic.

Well we wrestle under 109 k from jan 20 until a ay or two ago.

111k is clear better than 109k

and they got in at 74k on the correction a month or so ago they are now up exactly 50%

1.5 x 74 =111 so my guess is they are simply taking profits from the dip buy.

if they grabbed 10 coins at 74k they paid 740k if they cash 8 of them they get 888k and not have 2 free BTC plus a few worthless dollars after taxes.