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TradeTheIndex
May 17, 2021 10:29 PM

Is Bitcoin about to enter Downtrend 123 top confirmed! Short

Bitcoin / U.S. dollarBitstamp

Description

Hey Traders so I just noticed that there a 123 top on the Bitcoin chart that has now completed. I think this can be a possible trend change coming if more sellers continue to push the market lower. I am not totally sure the correlation of Bitcoin to other crypto currencies as I am still new to this market. But from what I am reading they are correlated and follow Bitcoin to a certain degree. As a new crypto trader I did buy a few coins with tron and siacoin and I am noticing weakness ever since Bitcoin has started to also weaken. Let me know your thoughts on Bitcoin!

Enjoy!

Trade Well,

Clifford


(All opinions expressed are for educational purposes and this is not a recommendation to buy or sell)
(Always use risk management before entering any trade)
(Past performance is not guaranteed for future results)
Comments
AnnaLenzi
Good analysis
mpow
yep, all eyes in BTC now.
andjcox
to catch you up to speed. bitcoin has the biggest market share of crypto. therefore when bitcoin sinks, they all do.
TradeTheIndex
Gotcha I was wondering the correlation but now I see you are correct it is heavily correlated! Lets see how long this sell off goes for.
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