Who are the resistance?

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If BTC/USD has support at $68,000 and resistance at $70,000, what type of group or person would keep dumping at $70,000 when they make very little profit from a buy at $69,000?

 
8289190:

If BTC/USD has support at $68,000 and resistance at $70,000, what type of group or person would keep dumping at $70,000 when they make very little profit from a buy at $69,000?

They didn’t buy at 69000
 
8289190:

If BTC/USD has support at $68,000 and resistance at $70,000, what type of group or person would keep dumping at $70,000 when they make very little profit from a buy at $69,000?

In the crypto market, there are not only investors, There are

1.HFT Traders trading in seconds or tick chart.

2. Scalpers trading 1 min chart

3. Day traders trading 5 or 15min chart

4. Swing traders trading 30min to H4 chart

Your question is related to investors who watch weekly chart and waiting $70000. Since they may have a week time to reach $70k, A swing trader may benefit by dumping in this case and make profit.

 
do you realize how risky crypto really is when there are billionaire whales who have been holding for some time? They do anything they want
 
USD yields 5.5%. BTC yields nothing. That's the demand for USD at the highs. 
 
8289190:If BTC/USD has support at $68,000 and resistance at $70,000, what type of group or person would keep dumping at $70,000 when they make very little profit from a buy at $69,000?

You can try to find the answer on these liquidation heatmaps but I'm really not sure if this knowledge (who they are) will help you to earn money somehow... [3rd party link redacted]

 
8289190:

If BTC/USD has support at $68,000 and resistance at $70,000, what type of group or person would keep dumping at $70,000 when they make very little profit from a buy at $69,000?

You are searching for things that aren't there. Market makers control how the market participants/players operate, not the other way around. They know what you know, they know where you will enter, because they orchestrated it to be that way. You need to learn to do everything the opposite. Find supply and demand price, work out the average, enter at next break. Don't get caught in the bull and bear traps. Support and resistance will send you right in there.

 
8289190:

If BTC/USD has support at $68,000 and resistance at $70,000, what type of group or person would keep dumping at $70,000 when they make very little profit from a buy at $69,000?

It is institutions, experienced trades and professional trades -who trade with big lots and trade with level to level.

 
Conor Mcnamara #:
do you realize how risky crypto really is when there are billionaire whales who have been holding for some time? They do anything they want
You are right that billionaires do have a great deal of power, even though I also think that the general public has some control over it. Not to mention, most of them are corporations with a great deal of influence; [redacted]
 

It sounds like traders with a short-term focus or scalpers. They aim to profit from small price moves, so even a small gain from $69,000 to $70,000 is enough for them. Another possibility is institutional traders or whales, who might sell at resistance to push the price down and buy more at lower levels. They’re not focused on big profits from one trade but rather making small gains consistently.

 
8289190:

If BTC/USD has support at $68,000 and resistance at $70,000, what type of group or person would keep dumping at $70,000 when they make very little profit from a buy at $69,000?

Have you notice any liquidity sweep on that level?
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