See, contrary to popular belief on this forum, I don't believe that the price is being suppressed. Quite the contrary, I believe it's being propped up by some whale or investment firm at certain price points. It happened at 430, 400, 380, and some at 375. There would be these "buy ups" consistently, for hours, on each momentary downturn. Again at the breach of 370, I'm expecting to see some effort by this entity to add some support. It could very well be some allocated amount of investment at each level, and will continue as far down as we go (versus someone consciously trying to support the price). These larger bid walls on the way down suggest where they are making their investments/stands. 365 is the next, and then 360. They will all, in my opinion, have 24-48 hours of support until their allocated spend has dried up. End result? We'll be going lower, probably to $325 or lower depending on broader market sentiment. I think absolute bottom (as a result of some capitulation) is probably $200.
Are there still people here who think the dumper(s) is doing anything else than just trying to kill the market?
If so, please show me something that will convince me this is not the case.
Can you articulate what the advantage of doing this would be? Other than further damaging market sentiment so it goes MUCH lower so they can re-buy, what's the point?
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