BIT 2.86% 3.4¢ biotron limited

Hey Mindbreak87Good to see your posts. Sorry to see you are not...

  1. 486 Posts.
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    Hey Mindbreak87
    Good to see your posts. Sorry to see you are not on this, (potential, likely, imminent...), run. The following observation could be turned into an opportunity I hope you can benefit from.

    Just a word of warning to those who may have decided to take a portion of their holdings in profit this time around. All IMO, of course.
    https://hotcopper.com.au/data/attachments/2448/2448064-83c59669108cae6049b50bcfdbb8bd79.jpg
    As a massive BIT spike gains momentum, there seems to be a point where the price reverses for a couple of days. In the above case, a drop of ~21%. (Note the classic flat bottom wedge immediately following. 'Dow theory' reckons that is a sure sign of a syndicate accumulating at an agreed price. More on this later.)
    In the below case, the drop is closer to 50%.
    https://hotcopper.com.au/data/attachments/2448/2448065-ba27df46961cd0e2501be6f1bed499ce.jpg
    If anyone has any insight as to why this happens, I would very much appreciate your speculations.
    My first guess is that there must come a time in a small cap rocket whereby no-one wants to sell. That might be when the bigger fish, (having steadily accumulated shares for this purpose, see first chart.), start shorting and spreading negative stories.
    Anyone setting a following stop too close or too early will provide a big pot for the big fish to scoop up a big feed, usually out of hours, when the mum and pop show is locked out.
 
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Last
3.4¢
Change
-0.001(2.86%)
Mkt cap ! $30.67M
Open High Low Value Volume
3.5¢ 3.5¢ 3.4¢ $16.72K 479.1K

Buyers (Bids)

No. Vol. Price($)
1 88413 3.4¢
 

Sellers (Offers)

Price($) Vol. No.
3.5¢ 73009 3
View Market Depth
Last trade - 15.48pm 16/07/2024 (20 minute delay) ?
BIT (ASX) Chart
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