Diminishing returns of Don Kwons $Billion Bitcoin buys

Bitcoin / Dollar BITFINEX:BTCUSD

Sovryn_Matt

Don Kwons Bitcoin buys having less and less effect on price, suggesting its mostly retail pushing price from FOMO. The volume is low suggesting Whales are not buying as crypto twitter likes to claim.

-Failing to break above the daily 200 MA
-Weakness at $48k
-Classic Wyckoff distribution top formation playing out on 1 hr chart similar to 2021 Q1

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