Or probably these are big holders/miners selling little by little as soon as any substantial support appears. They don't want the price to fall too fast because they want to sell their coins at maximum price possible.
I think it would be insane for any pumper to make a move now when so many people want to sell at 100-200K.
The ones who really want to sell will put many smaller sell orders and over week or two he could sell substantial amount without hurting the market.
This what you are saying is not what is happening here, definetly not... or sellers are realy stupid which I highly doubt.
It very well could be miners. Not everyone who mines holds the all the coins they mine long term.
If you are larger miner you may need to sell some amount on a regular basis to cover your expenses, mainly electrical costs. So even if you do mine and hold, you may need to sell 60-75% on a regular basis to offset mining costs.
I have a few miners going at my house 24/7 and they add approximately $200/mo to my electric bill. I will sell approximately 1 BTC's worth at current rates each month, usually trying to spread it out to hit higher prices, just to offset my electricity costs. I still end up with a decent amount to hold onto longer term, without having to risk as much.
