This could drop one more time, so don't close shorts yet, but If you decide to open a short here, be prepared for it to go against you.
I closed my previous short already. Holding some as a hedge since I believe long term 3k is not the bottom, but I have bought a small amount and will add once we drop more.
I believe there will be a move up once this completes. I don't know by how much, but probably not very. A couple % is the goal.
It is a worthwhile to bet on this, but be prepared for a big loss. I will accept the liquidation of my long if it happens.
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Just a quick view of what is going on right now.
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Also, I want to talk about the movements of large btc wallets recently.
Some of it may be OTC, and some of it may be sold. There is no way 3k is the bottom.
I was looking back at 6k, and have realized the reason price was being kept up by pumps was so they unload part of their positions when price was stale.
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Might go lower.
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Hopefully this is it
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I guess it was.
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In theory this looks bad. I guess you can short this but due to other factors I believe this may break up.
Hey man good stuff. I like your charts and thought process. Been thinking that 2990 was the potential bottom myself and then probably won't be out of the bear market till late next year. You said in this post you don't think 3000 is the bottom. What's your thinking then on where the bottom is?