CRYPTO MECHANIC(@CRYPTOMECHANIC)'s insights

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What's your next $BTC target?  

$68,000

43%

$53,000

57%

1890 votes • Voting closed

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BTC

54,792

+4.04%

6.7k

0

Replies 35

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Key $BTC zone that i think price needs to reclaim to confirm that the move under $50k was the bottom. until then i think it might just be a relief bounce from the weekly zone + psychological number $50k.

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Give this a read. posted it yesterday 👇🏻

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I pointed out a few reasons why this moves down is much sharper. - Billionaires shilling Crypto to us (Elon , Trump ,Saylor) -Traders excitement towards new all time highs because billionaires are with them. - Expectations of rate cuts -High leverage longs - Germany selling -Mtgox repayments - Iran attack - Japan market crashing. - The fear of global recession A mixture of greed first above $65k where people were high leverage long or all in spot and then the fear of war and recession. This ends up in a sharp sell off with people selling and getting liquidated. When situations are this bad charts are least likely to work. The least you can do is either wait for the situation to settle or buy when you see market capitulation. (A big move down) #MarketDownturn

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How did you deal with today's drop?

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Did you buy the dip?

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