This is starting to be a "warning for Seafarers"...

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First of all, I am not still in BEAR Mode case, I still think we are at the end of the current BITCOIN correction, the price is drawing a sort of Expanded Flat 3-3-5 correction and I am really thinking the bottom is IN as you can see in the 1-hour chart of BITCOIN below.
Also, I am not sure if the end of this structure (3-3-5) would mean the continuation of the Bull Cycle or, by the contrary, a longer and more complex corrective structure that may evolve but my Bet is that BTC should go upwards from the 55000 level.

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In any case, as you know, I am following in a weekly basis what the top 100 Richest addresses on BTC are doing. Actually almost daily and what I get as a conclusion is a clear warning for the market.
These Top100 accounts are increasing the selling pressure if we compare it with the previous weeks. However, the BITCOINS bought by these whales are still 1.5 times more than those they sell.

As you can see in the charts below, the Top100 have sold a total of 55000 BTC during the last 7 days while the amount bought has been 86000 BTC.
Still BULL WHALES are empowered here but the trend is changing.

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Despite the level of BUYS is maintained, the SELLS have increased by a factor of 3 almost taking into account that last week they sold about 19000 BTC.
So, here we are in a kind of UNCERTAINTY MOMENT in which the COUNT is BULLISH but the WHALES INDICATIONS are BEARISH.
I tend to think that this increase on the sells are already reflected on the BTC price of the last 7 days which has had a sort of very prominent drop of 20% and, I hope whales are starting to realize that 55K is a good Buying Level...
In any case, I expect to see this change of behaviour in the coming days, if this is not the case I think the BEARS will take the power.
To be continued in 7 days from now.
Stay safe.

@toofasteddie

*Disclaimer: This is just my personal point of view, please, do your own assessment and act consequently. Neither this post nor myself is responsible of any of your profit/losses obtained as a result of this information.

Posted Using LeoFinance Beta

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17 comments
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El otro dia el Muvdi dijo algo que creo tiene mucho sentido... Y es que al no haber liquidez haga contrapartida, si una una ballena hace una buena venta puede desatar una reaccion en cadena bestial.

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Exacto, por eso es tan importante hacer seguimiento, estos son los grandes manipuladores del mercado

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Yo creo que esta vez si que si viene la correccion despues de 72K-73K

Eso si, ya rondando la zona de 123,6% con lo que la correccion empezaria supuestamente a ser poco probable baje el minimo e 30.000$ y podria corregir tan solo hasta +o- 40K-44K con lo que yo diria que ni tan mal. Aunque antes pensaba habia probabilidades de bajar de 30K lo cierto es que me producia vertigo.

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the BITCOINS bought by these whales are still 1.5 times more than those they sell.

They have to somehow drag the price down. Everybody is on "wait mode" not selling before most are actually in for the parabolic runs, but that doesn't occurred yet across the board and if the cycles are changing we probably won't even have that.

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So it's time to buy again? :)

I like it when the dropping price is called correction

Anyways, I wanted to ask you about @runningproject and @isotonic. May I withdraw the delegation?

Or do you have any future plans for it? Thank you in advance.

!invest_vote

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Do as you wish, I have no so much time lately, thanks for your support

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I thought so, yes. I can see you are busy in many areas. OK, I'll undelegate it.

If you need anything, just let me know.

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