I am posting this analysis to announce that I believe that BTC bear market confirmation will occur when BTCUSD rises to around $61,000. I believe ALT coins will rise drastically once BTC begins to rise and reaches this level and I plan to short BTC when this occurs. Once BTC reaches this level I believe the entire market will fall with BTC and plan to DCA my favorite alt coins around this time next year.
Good luck. Happy Holidays!
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Also would like to add that we could see more downside for the whole market if BTC does fall down to support at around 42k. I think this is likely, but it is crypto. It could just send it to my sell targets.
I'm confused. Your rating atm is a sell, yet you will not short until 61k. That makes it a buy at the moment, no?
Borastreams
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@SIGPokerKing, Only plan to buy if we go to 42k support area... if we dont go there then I only plan to short bitcoin at 61k. I am holding alts in anticipation for rise and will buy more alts if btc falls.
Sunset-Mist
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Is a good thought. BTC 60s will be the second time at these levels w a good possibility of going higher. If BTC does not clear 52 soon I believe all will go south.