Big dog psychology analysis
There is 3 batch of big dog taking profit of their buy hold position
1. The 1st batch of big dog taking their profit is the one who make the market having it first pullback.
2. The 2nd batch of big dog still hold and did not taking their profit yet because they believe the market still able to go up further. But they will take their profit when the market making correction. When fibo 61.8% show price rejection they will decide to take their profit at 10000.
3. Now, the 3rd batch of big dog, their are more cold hearted. They still want to wait for the price to go up further. If the price having difficulty to stay above 10000 for more than 2-3 hours, they will also taking their profit when the price reverse to around 9500-9000.
So, we need to let most of these big dog take profit of their previous hold position before we can enter buy trade back in the market safely. I would say, 8500 and 8340 would be the best buy price to make sure there is less big dog (Bull) making the pullback crash.
1. The 1st batch of big dog taking their profit is the one who make the market having it first pullback.
2. The 2nd batch of big dog still hold and did not taking their profit yet because they believe the market still able to go up further. But they will take their profit when the market making correction. When fibo 61.8% show price rejection they will decide to take their profit at 10000.
3. Now, the 3rd batch of big dog, their are more cold hearted. They still want to wait for the price to go up further. If the price having difficulty to stay above 10000 for more than 2-3 hours, they will also taking their profit when the price reverse to around 9500-9000.
So, we need to let most of these big dog take profit of their previous hold position before we can enter buy trade back in the market safely. I would say, 8500 and 8340 would be the best buy price to make sure there is less big dog (Bull) making the pullback crash.
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