I know a person, who was teaching trading at a big german bank.
He told me that big players in the market earn their money during corrections.
This makes sense, because they can not sell their huge assets at the top, otherwise price would fall like a stone and they could not make money.
If you check the chart we are currently 10 times above the last ATH(-1) and the correction is taking long because the so called whales not yet sold everything.
Having the money, the whales or institutional investors push people by marketing (halvening, 100k targets) to sell their rubbish.
The role for the private investors (small fish) is to hand over their money to the whales.
So in my now hardening, maybe biased opinion, the real target of the correction is a fibo 1.618 or 2.41 correction.
This downward channel will not end until the big majority of the whales sit on real cash again while we will play the role carrying their bags.
He told me that big players in the market earn their money during corrections.
This makes sense, because they can not sell their huge assets at the top, otherwise price would fall like a stone and they could not make money.
If you check the chart we are currently 10 times above the last ATH(-1) and the correction is taking long because the so called whales not yet sold everything.
Having the money, the whales or institutional investors push people by marketing (halvening, 100k targets) to sell their rubbish.
The role for the private investors (small fish) is to hand over their money to the whales.
So in my now hardening, maybe biased opinion, the real target of the correction is a fibo 1.618 or 2.41 correction.
This downward channel will not end until the big majority of the whales sit on real cash again while we will play the role carrying their bags.