The shape of the pancake is very strange!
I just repeatedly observed the structure of the pancake and the on-chain data from the afternoon until now, and found something very interesting!
Everyone knows that BlackRock has been continuously selling for over a week now~ each time transferring chips to cionbasa to sell...
No surprises, today at 19:30 they transferred 4198 pancakes...
But if everyone looks closely at the K-line pull time; it started from the big bullish candle at 8:30...
Let's assume that BlackRock had already started selling at that time, then during the period from 7:30 until now, the market couldn't have pulled up that high.. It only indicates that those chips are still being held and haven't been sold... So if that's the case, what does BlackRock want to do? The following situations may occur!
First situation: Tomorrow is the weekend, transfer to the exchange in advance and wait for Monday to crash.. This situation has a high probability, the market has already dropped a lot, if they crash directly, the position is not good, waiting for the weekend to consolidate before selling.. The price will be better.
Second situation: Because of the sudden favorable news from the Federal Reserve, they are also observing, deciding whether to sell based on market reactions.
Third situation: Intentionally transferring to show retail investors, using it to deceive shorts; when everyone sees the news of their transfer, many will jump in short, and then they privately accumulate.
Through technical patterns, I found that tonight's total trading volume is roughly similar to that wave at noon on November 20, but the price has pulled up nearly three times that amount at that time.. Generally speaking, in a downtrend, a decrease in volume during an upward movement often represents a weakening of selling pressure... which also supports that BlackRock's wave of transferred chips are still in hand...
If as expected, then there is a high probability of a rebound this weekend, or a high-level sideways movement; those looking to short are advised to enter on Monday... For long positions, pay attention to the trend; as long as the trend doesn't break, I think making a profit on a rebound shouldn't be a problem! #BTC走势分析
