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Hold Fast

810 Posts.

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04/09/16

13:45

Post #: 18916479
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Originally posted by Hold Fast ↑

I'm finding this update interesting as you're questioning where the supply is coming from, whether it's from below (profit taking) or from the left of the chart (stale holders holding onto losses).
I'm seeing that the potential motivators and outcomes here are very different, if the selling is coming from below as profit taking, support is being removed and in turn weakening the driving upward force or foundation of the move, effectively like pulling lower blocks out of the Jenga tower, with the obvious outcome of collapse in price as the upward momentum is unsustainable.
In comparison, if the selling were coming only from the left of the chart, stale holders, whilst still providing some resistance to the upward move, are merely roadblocks that should succumb to the positive momentum built up through the initial move, obviously dependant on the strength of the move and the size of the resistance.
Still so much to learn but finding this thread fascinating, working through it all very slowly, Happy Father's Day

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I've left out the most important bit -
Where is the supply coming from and is it dangerous to price?
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