RATE Group | Bitcoin (BTC) Bulls, Bears, Whales, And The Final Standoff
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Bitcoin (BTC) Bulls, Bears, Whales, And The Final Standoff

18 Dec Bitcoin (BTC) Bulls, Bears, Whales, And The Final Standoff

Posted at 17:13h in Bitcoin News by

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Bitcoin (BTC) just broke out of a giant falling wedge and has now started a bullish recovery. However, it has been rejected strongly at the 21 Day EMA and so far it does not seem to have the strength to break past it anytime soon. That being said, the sudden breakout yesterday took most bears by surprise. The rising bearish momentum is lost and the bears are looking to pull their money off the table and make a run for it. The whales on the other hand are not ready to let BTC/USD break past critical resistances without spilling some blood. So, it is unlikely that the price may break past the 21 Day EMA anytime soon. The bears will get lured in one last time with a false hope that this was a false breakout.

The whales always knock out reckless bulls or bears at turning points in a market. They have been doing it since time immemorial. Some may argue that it is a necessity that they have to do this in order to fill their large positions while having the liquidity to do so, without…

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