Bitcoin has briefly dumped below $22k today!
I have not seen any negative news that would trigger this (unless I have missed something - let me know in the comment!) This tells me it can be a massive fakeout to the downside for a breakout pump!
There was an opportunity for a limit order long from this level with a stop loss at $21,700
This is one of those trades where people do “buy the dip” thing hence the reason it was bought back so fast!
But now hours later Bitcoin dumped to this level again with strong selling pressure!
They might try to dump the market again below the line to create a fakeout with a breakout pump. The buyback has happen very quickly so breaking the line might not work!
I don’t trust this dump at all!
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