I figured today I would learn a bit more about why there was a huge pump on bitcoin last night.
We saw a surge from $4,100 to just about $5,100 within the matter of a hour or less. Most of the pump happened within 15-30 minutes and then lingered off a bit from the highs which is expected when you have such a quick huge bump.
So what triggered this?
Was it the April fools joke that the ETFs the SEC has been pushing off for legit forever now finally got approved(WHICH IS NOT THE CASE BY THE WAY)
It seems like the trigger was from a 100 million dollar order from a whale that broke the large 80 million dollar sell that was on the network yesterday. This smashed the large sell order and triggered a huge rally after since the sell orders after that 80 million dollar wall where much lower. That means just 20 million more maybe upwards of 25 million pushed us to the $5,100 mark.
Now when you step back and look at that you can see that just a few million dollars can seriously jump up the price of bitcoin and that the day of 20,000 per bitcoin really are not that far off in terms of money.
Overall the pressure still seems to remain upwards. While there will be some selling off because of the 15%-25% gains people have seen in just a few months or overnight it is expected. For me I am still a HODL!
Classic short squeeze as stops were taken out above $4,200! Watch out as there are probably more above $5,100 as well!
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For sure! There will be people that will gobble up profits but to me they are fools for not holding lol. I don't expect this to go to 20k more like $5,500 and that will be our new range again for a while. I don't see the major bull run happening till October, November, December, January as long as all the projects in the works go well and get launched.
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