QUOTE(MANUTD676767 @ May 22 2021, 12:01 PM)
If it goes lower to 30k. Looks like many whales are out from game already hahahah. No point staying d
Retails out, Professionals in
Thats basically the goal of this 5 Phase correction!
I commented before, Coinbase outflow started in covid crash. It went sideways for couples of month. What could this move be? Smart money are accumulating.
The institutions peak buying per week is Nov/Dec 2020. Since Jan, reducing long while adding more and more shorts. Smart whales got out at 50k.
Now they making good profit, short + distributing.
Don't think because Elon bought at X zone, it will not go below. There are much stronger hands behind the scene, definitely bigger than Elon. Plus Elon can hold it, because he is not using any leverage unlike retails.
Institutions are liquidity hunters, always be. I am seeing a lot of interests at 18-19k zone from the smart whales I know of.
We could be in Denial stage