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Bearish
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One very important point to keep in mind is the duration of the correction. When we use the general term "short-term" we are referring here to a period of 1-3 months. Everybody uses these terms differently but for us it means within 30-90 days. This correction is a "short-term" move. It should last only within 1-3 months. Here the tricky and interesting points to note: 1) Bitcoin peaked 14-March 2024. While some people are realizing only now that Bitcoin is dropping, it has been in its bearish wave for 1.5 months (technically speaking). 2) The low can hit after 2 months or 3 months, etc. So the entire correction can last, say, 2.5 months (75 days). After the low is in, it can take 1-3 months for prices to move back up to current levels or even more... That's the interesting part. While the correction "just started" for many, it has been going for almost two months. While the entire correction phase should end fast, for many, it can last between 4-6 months, the entire period. It can take 4-8 months from March 2024 until Bitcoin is back up to the same levels and challenging resistance in order to hit new All-Time Highs (2025). @AlanSantana @icryptomethod All this information leads me to realize just one thing: The market offers endless opportunities and patience is key to win! #altcoins #BlackRock #MicroStrategy #eth‬ #buythedip CHECK BACK BEFORE THE END OF DAY FOR MORE UPDATES

One very important point to keep in mind is the duration of the correction.

When we use the general term "short-term" we are referring here to a period of 1-3 months. Everybody uses these terms differently but for us it means within 30-90 days.

This correction is a "short-term" move.

It should last only within 1-3 months.

Here the tricky and interesting points to note:

1) Bitcoin peaked 14-March 2024. While some people are realizing only now that Bitcoin is dropping, it has been in its bearish wave for 1.5 months (technically speaking).

2) The low can hit after 2 months or 3 months, etc. So the entire correction can last, say, 2.5 months (75 days). After the low is in, it can take 1-3 months for prices to move back up to current levels or even more... That's the interesting part.

While the correction "just started" for many, it has been going for almost two months.

While the entire correction phase should end fast, for many, it can last between 4-6 months, the entire period.

It can take 4-8 months from March 2024 until Bitcoin is back up to the same levels and challenging resistance in order to hit new All-Time Highs (2025). @AlanSantana @icryptomethod

All this information leads me to realize just one thing: The market offers endless opportunities and patience is key to win!

#altcoins #BlackRock #MicroStrategy #eth‬ #buythedip

CHECK BACK BEFORE THE END OF DAY FOR MORE UPDATES

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#BTC (daily timeframe). 🔥 After Bitcoin tested the dynamic support level in the form of an exponential moving average EMA 21 D, buyers went on the offensive again. The asset rushed to the upper boundary of the Triangle, which finally managed to break through. It is noteworthy that the POC mark shifted from the level of $67,000 to $67,600, i.e. active accumulation and trading began at higher levels. This may be due to the fact that traders and investors consider the new level to be a fair price. Now, on a local pullback, this zone can act as support for the price movement. The RSI line is located above the 50 mark and is preparing to overcome the average moving MA of 20, which signals the continuation of the local growth of Bitcoin. The nearest resistance level is located near the middle of the ascending channel — $70,100. Accordingly, sellers' pressure may increase from this area with the price returning to a new POC level ($67,600). We still admit the possibility of testing the 0.382 Fibonacci retracement level ($66,200) on a rollback before rising to a historical maximum. This will depend on the reaction of buyers to the trading level of $67,600. #ETH. The asset headed for a second assault on the local resistance in the area of $3,840. At the time of writing the review, Ethereum is gathering strength under this mark. In case of its breakdown, the instrument will move to the next resistance of $3,935. The capitalization of the cryptocurrency market has increased by 1.4% over the past 24 hours, and the dominance of Bitcoin has increased by 0.25%. According to Luk Capital analysts, over the past 7 days, more than 71 thousand #BTC have been withdrawn from centralized exchanges. This reflects the bullish sentiment of investors and increases the likelihood of a continuation of the local uptrend.
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