This channel seems to be the current state of bitcoin's trend. The breakout of the past month was clearly too fast to hold, but now we are at levels where bitcoin is heavily supported. As weak hands sell, strong hands buy their coins. This where bitcoin consolidates and prepares for future possible new all-time highs.
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@stupendelious I’m new to this so can’t say I’m a pro but I agree with you. Seems like a new support point being formed around 13.8k-14.2k. What’re your thoughts?
Ps: +1 rep would be great, unable to chat. Ty
stupendelious
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@gdang10, yes it seems the market is starting to become more bullish in the short term. Many people on here are posting ideas that this will got down to 8000USD and I respect their opinions and see the possibility, but I don't who would sell it down that hard. Whales control the market. Why would they devalue their coins on purpose? Just my point of view. Looks like a double bottom formed while I was sleeping, could be the trend reversal that will take us back up, but who knows.
gdang10
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@stupendelious, I second your view. Short term manipulation due to Wall St and futures.
Ps: +1 rep would be great, unable to chat. Ty