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I don't think we will have to wait that long, what was clear is that $100K is a difficult barrier to beat and it is something I have repeated ad nauseam in several threads years ago. If you look at the books, around $100K an awful lot of sell orders are placed, as we have an example in the thread:
i did a three step sell ladder
99.89k
100.10k
101.10k
As I knew how this was going to be I made a small sale at $90K and I will not sell more until $110K.
Now we even have people who had placed sell orders at $102K, $103K etc. who are getting desperate because the price just won't beat $100K and what do they do? Lower the price of the sell order. They put it a little below $100K and when the price gets close again it immediately goes back down.
But as soon as we clearly pass $100K there will be a big green candle, and I think it won't take long.
Ok I get your point, I haven't been thinking about it like that. It makes sense that no matter what the momentum is, $100K was like this shelling point where people mutually agreed they are going to sell some. Maybe some put up sell orders that were literally dormant for an eternity on Binance and other more or less reliable exchanges. I thought with the right dynamic someone could make a big move, like Michael Saylor intentionally breaking through that barrier to immediately give psychology in the market the right turn. But as you said, many of those $100K orders could have just been placed because it is this one barrier where people thought if we reach it, I am going to sell some. And if many people do it even with small sell orders, it's quite the threshold to overcome for the market.
One problem could also be that the whales, the big buyers, mostly buy OTC? Or am I wrong on this one? Does a company like MicroStrategy buy on the open market or are they sealing deals mostly OTC?
"Now we even have people who had placed sell orders at $102K, $103K etc. who are getting desperate because the price just won't beat $100K and what do they do? Lower the price of the sell order. They put it a little below $100K and when the price gets close again it immediately goes back down."
That is true because they now already freak out they haven't sold at $98K and now they get nervous that we could see $85K again. I admit I was wrong on this one. Or maybe not wrong, but I was a bit more positive that the opposite of expectations for $100K might happen due to some big guys pushing through to add immediate additional value to what they already hold by signalling the market that the only way is going up.