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Crypto JK
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📉$
ZRO
dumped from 4.38 to 3.98 (-9.26%)
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Crypto JK
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Germany's remaining #Bitcoin reserves available for sale have dwindled to under $1B. Just a little more hodl?🤔
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$ZRO M15 Potential Bullish Shark Formation • Possible bullish shark harmonic pattern formation with D-leg completion on 79% Fib level touch. • Can easily be invalidated once A-leg pivot at $4.49 is broken. • This is a counter trend analysis. Market can exhaust anytime since TFO is macro chart is already in extremely overbought zone. Key break points: • $4.273 • $4.196 • $4.050 • $3.952 • $3.865
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This $ZRO M15 potential bearish gartley formation just got invalidated earlier as price dipped as low as $3.654, breaking the C-leg pivot at $3.705 as I previously mentioned. But nonetheless, it made a significant pump towards $4.490 price setting a new local high in the process. The ATH of this coin per CMC is at $4.80, but personally I think it could be in exhaustion in the upcoming days subjected for a short-term correction before making a new ATH. I am looking for a shorting bias right now, but it will be a 5/5 risk rating in my honest opinion.
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We now got the invalidation of this potential harmonic pattern formation in $ZRO. $3.705 pivot got broken despite the negative funding which favors longs.
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Market currently volatile now as FED Chair Jerome Powell indicated that existing data does not provide the level of confidence in the inflation outlook necessary for the Federal Reserve to justify cutting rates. Trade safely, or better yet take a rest.
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