Technical analysis by ratchet-mint about Symbol BTC: Sell recommendation (3/4/2024)

BTC recently enjoyed a breakout above its resistance level with strong momentum before quickly getting hit with a institutional sell trade. This caused BTC to temporarily sell all off nearly 2k in a few minutes. This is not the only sign of weakness in BTC lately. Whale selling has picked up quite a bit lately. Many new wallets been created with small amounts of BTC in them (retail trading)As institutions and larger players exit a bull rally, retail traders enter out of excitement. This spurs the price to rally a little bit further before finally a reversal takes place and bears take over.Holding onto BTC and other cryptos is becoming riskier the longer this rally continues. Watch your holdings closely and don't get greedy