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Understanding crypto
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On the idea that btc might have bottomed, this would be how i'd see the move up.
On the idea that
btc
might have bottomed, this would be how i'd see the move up.
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The hash ribbon indicator is flashing capitulation for btc meaning that Bitcoin miners are experiencing significant financial stress. This is often due to low Bitcoin prices or high mining costs making mining unprofitable. Usually we get a BUY signal from the indicator after this and it has proven to be a very accurate indicator over the past years. we will get updated here when and if that BUY signal flashes. last BUY signal was at 29k/btc.
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My bitcoin dominance updated chart for crypto alt season. red is for bitcoin season green for Alt season.
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We saw the Bitcoin and altcoin drop in price coming. All you need to know now!
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Its important to note that even the drop i'm suggesting does not invalidate BTC ultimate move. We seem to be in the pre-bull as from the blue boxes from the past (reasoning for my thinking that the bull could come sooner than we all expect). The main chart is weekly, the attached chart is zoomed in on the daily. I will include all this in my market market update with timestamps on the vid for your convenience.
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#BTC quick update We are now at the higher 69k zone as forecasted earlier. Problem with this is, usually Monday brings the fake move. so the idea of price moving into the 70s as said in our forecast and still having yet another move down still is in play. I'd hope that this would be an "up only" thing but there's good reasons to still expect another bigger drop after this particular move up. will send the zoomed-out preview in a bit!
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