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Understanding crypto
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what to do in a crypto market downturn #Crypto #bitcoinupdate #BTCUSD
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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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BTC exchange balances have been dropping since February-March as BTC price hit it's local top. This shows that whales might have been accumulating as price consolidates since then. It does also mean however, that it'll take less fire power to move BTC price both UP and DOWN. From this, one can conclude that a BTC price drop will most likely just be to shake retail off so that they (whales) can buy even cheaper BTC in preparation for a later rally.
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On the inverted SOL chart, one could make a very strong case to suggest that sol has topped. it really is either something exclusive to SOL will happen for it to dump hard or we are yet to see another bigger market drop. saying that SOL will go to huge new highs from this particular point would be hoping. Normally i'd target the (A)-(B) region. Its a really confusing situation tbh. Hopefully it defies the chart and rocket straight up instead (the current chart is inverted!)
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