The last break we can interpret as reaching the liquidity zone (which means that there was a concentration of stop losses and other positions) is a book example, after such a liquidity selection we expect an upward movement. In this case we saw an impulse movement and a return to the range of 26800 -28900-31000. And now we are around 27k. Also we see liquidity zones from below, which we can reach both at the top ( red box) and at the bottom ( green box). What's the global picture right now, 5 months of growth, at the peak +90% of the bottom. In those 5 months we've seen a rush: on Chinese blockchains, LSD, Meme, BRC20, AND other with the last two attracting new participants who are just asking what to buy to get rich. On the logistical curve this is the last stage. Now most people are in the market with altcoins because they have more upside, but also more downside:) Some think we will go to take liquidity from above ( red boxes) but this crowd will start to fix their positions, in zero or near zero, so I do not see the point in the pump, so I am out of the market now, just watching and looking for an entry point to short. And I'm waiting to buy back the flash crash
Best regards EXCAVO
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Waiting for 24.8 first
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We had a plan and we stuck to it:) It's not a flash crash, but we see the trend - the pressure on the cryptocurrency industry from U.S. regulators continues
probably it will take the liquidity above before dumping hard in June ( Prob Mid June).
bitcharger
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Impressive work mate. thanks for sharing
ifeanyichukwu_E
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Bitcoin is still Bullish
CBKWahoo
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BTC is giving me that bump and run feeling, similar to mid jan and march run ups. Lot of people infected by FUD outbreak lol
kloasjnb
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We had a plan and we stuck to it:) break out uptrend channel; yeah right, it did ;- )
kloasjnb
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@kloasjnb, excuse me for my BS comment; was just another interesting contribution as we have come to expect from Excavo, credit where credit is due
Putrid_Shittgenstein
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Down to 20K ?
Where do I close my short?
MondoDuke
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@EXCAVO Do you see retesting 30k probable before drops deeper ?
EXCAVO
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@MondoDuke, not now I expect correction til end of september
simplejoe1
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do you think people are more likely to hodl now? considering new wallets >1btc are at all time high. if so, maybe downside is limited and more likely some kind of consolidation range?