Hey guys - here's a video update of the market. I provide some analysis in the beginning (until around 7:00). The second half of the video is me rambling about my personal experience with crypto, as well as some opinions. Obviously you don't have to listen to that part. Basically the gist of it is that while I consider myself to be "good" at analyzing the market (I've made some pretty great calls), and I do make some successful trades on occasion, I'm not a professional. I do not have a lot of money (yet), and I don't make ridiculously good trades every day. If I did, I'd be on an island somewhere sipping a rum punch ; )
What I do like about this platform is that people like me can learn from others who do indeed have a lot of money and a lot of experience. But sometimes I wonder who is really being honest, and who just wants to get the most views.
Anyway, hope you enjoy! If you like what I do, don't be afraid to leave a like or a comment.
This video is not financial advice. It should be used for educational purposes only.
-Victor Cobra
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If Bitcoin dominance dropped hard here, we could form a potential downtrend channel. Love making these speculative drawings. What's kind of interesting is that the bottom trendline can be extended precisely from when dominance first dropped below 99%
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Looks like we've invalidated the 2016 fractal, so obviously things will be playing out differently. It's possible that the market sees some new lows later this year, particularly if Bitcoin can't hold the channel.
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Above is the only other possible comparison, but I don't really think it's valid either because that rejection from 2016 happened at the previous ATH, which is not the case here.