There is a $200 and 8 point RSI difference which points to a lower bottom point of the next sell off.
Miners will need to sell more than they mine to pay there bills and will be dipping into reserves.
Public demand is definitely not increasing as people are getting to grips with paying there own bills and putting food on the table.
Notice the pumps are increasingly made in the Far East time zones...
So who will blink first, the whales or the miners? because whoever decides to start selling with volume could spark a cascading drop until the miners can pay their bills and accumulate enough cash to pump the market...something that is going to get more and more difficult as the month go by and the recession reality really kicks in. Good luck to all.
Miners will need to sell more than they mine to pay there bills and will be dipping into reserves.
Public demand is definitely not increasing as people are getting to grips with paying there own bills and putting food on the table.
Notice the pumps are increasingly made in the Far East time zones...
So who will blink first, the whales or the miners? because whoever decides to start selling with volume could spark a cascading drop until the miners can pay their bills and accumulate enough cash to pump the market...something that is going to get more and more difficult as the month go by and the recession reality really kicks in. Good luck to all.
Comment:
I should say...if whales blink first it could send the miners into a spiralling panic...who knows where we will end up!