#BTC Bitcoin has completely filled the CME Gap But the se | Eternel insatisfait on Binance Square

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Eternel insatisfait

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#BTC 
Bitcoin has completely filled the CME Gap
But the severity and extent of this current correction means a brand new CME Gap has developed
New CME Gap is located between ~$59400-$62550
Bitcoin would need to reverse to the upside to fill it
$BTC #Crypto #Bitcoin 

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US ELECTION IS ALWAYS BULLISH FOR BITCOIN, BUT WHY DOES IT DUMP? TAKE A LOOK AT THIS. HISTORICALLY, DAYS BEFORE THE US ELECTION, BITCOIN SLIDES DOWN. 2016: -10.2% 2020: -6.1% 2024: -6.3% WE CAN STILL DUMP A LITTLE MORE. BUT THAT DOESN'T INVALIDATE THE BULLISH SENTIMENT FOR BITCOIN. THE U.S. ELECTION IS ALWAYS BULLISH FOR BITCOIN.

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WHY IS BITCOIN DUMPING? 1) IRAN-ISREAL WAR YESTERDAY, IT WAS REPORTED THAT IRAN IS PLANNING TO ATTACK ISRAEL FROM THE IRAQI TERRITORY. AS WE ALL KNOW, WAR IS BAD FOR BITCOIN AND CRYPTO 2) TECH GIANTS EARNINGS DISAPPOINTMENT YESTERDAY, MICROSOFT AND META POSTED WEAKER THAN EXPECTED RESULTS EVEN THOUGH THEY BOTH BEAT EXPECTATIONS, THE RISING COST ON AI CAUSED THEIR STOCK DUMP, THUS TAKING DOWN THE ENTIRE MARKET WITH IT 3) RISING BOND YIELD 10-YEAR NOTE IS NOW TRADING ABOVE 4.3%, WHICH HAS HISTORICALLY SUPPRESSED DEMAND FOR EQUITIES 4) CORE PCE RISING CORE PCE ROSE SLIGHTLY ABOVE 2.7%, WHICH COULD PUSH THE FED TO BE A BIT MORE HAWKISH. CONCLUSION IMO, ALL THESE THINGS ARE JUST THERE FOR A TEMPORARY DUMP. JUST LIKE UPTOBER, MOONVEMBER HAS STARTED WITH A DUMP, AND IT'LL END WITH BTC GOING ABOVE $80,000+.

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#BTC Bitcoin continues to Daily Candle Close above the Channel Top (black) However, a new short-term Lower High has developed (blue diagonal) As long as BTC stays above the Channel Top (black) and/or forms Lower Lows into it... Price will still manage to secure a bullish post-breakout Weekly Close from the overall Downtrending Channel $BTC #Crypto #Bitcoin

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