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Rebelmedia
Jan 11, 2024 8:02 AM

48k, heh? : BTCUSDT : NASTY RETRACEMENT : SHORT SIGNAL Short

BINANCE:BTCUSDT240
Bitcoin / TetherUSBinance

Description

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Whoever made the call about 48k before tanking was pretty accurate.

Not exactly certain where it'll come down to, but I'm confident it'll get at least below 40k.

Come'on little BitCoin!

Trade closed: target reached

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Chart PatternsTrend AnalysisBeyond Technical AnalysisBTCBitcoin (Cryptocurrency)shortretracementsellsignallezzmethod
Comments
PerfectLONG
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Bitcoin consolidating finding bottom
PerfectLONG
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Cup and handle
Rebelmedia
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@PerfectLONG, Nope.. That's a bullish continuation pattern.. Unlikely to happen here, or if it does, it would take weeks to complete, because it's proportional to the preceding bullish run, which took months.. BTC's chart is too jagged to ever tell for sure either way.. Often the interpretations depend on how much you've had to drink..
PerfectLONG
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What’s the need for a correction I see a healthy pattern and FTx dump.
Rebelmedia
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@PerfectLONG, What do you mean "the need for the correction"?
PerfectLONG
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@Rebelmedia, I thought you were shorting to next support
Rebelmedia
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@PerfectLONG, Well, I'm not actually trading.. But if I were, yes, I'd be short, so you're correct..

It's the continuation of the retracement that started 16 days ago..
MyCryptoParadise_Simon
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Your expectation that Bitcoin could fall below 40k, while not specifying an exact bottom, suggests a cautious but bearish outloo
Rebelmedia
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@MyCryptoParadise_Simon, Nope..

I'm probably the least bearish person in crypto..
But the stock market can sometimes go only-up..
Crypto does not do that..

I simply call it as I see it, and what I saw is pretty clear.
I'm not wrong yet..

Keep in mind, I disagreed with the 48k and blood call, until just before my post this morning.
Rebelmedia
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@MyCryptoParadise_Simon, If I were a betting man, I'd call this the top for BTC on this run..
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