Yup! You hit the nail on the head, that's exactly what's happening. Whales unloading spot on exchanges to protect their massive short positions so they don't get liquidated. That's why it seems like an endless supply at that level around $6,500-$6,600. Normally, the more times a resistance level is tested the weaker it gets, but in heavily manipulated markets like Bitcoin that's not the case. I've never seen so many wicks thru a resistance zone in my life loll