Look at the left side of the daily chart. A bag load of holders trapped when it tanked in Sep 2018. When you've been holding that long underwater, you're loyalty becomes tested. There will probably be a lot of churn whilst a fair % of the register turns over. Bit dumb to sell, news like this doesnt come along too often, but thats what always happens. "Stale holders".
Cant see a Charting thread, so I'll post this. Ran a fibonacci sequence over todays first major intraday move, and we are oscillating between the 100 and 161 Fib atm, , expect a fair bit of churn today between those levels. Next Fib level is 261% ( .039 )
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