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Sorry for flip flop recently but it is not new It is a part of game
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A big movement should come at lately weekend or early new weekly.
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Whales are switching ETH to BTC.
Same as other alts.
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Describe the current correlation between BTC & Alts in a gif ?
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Distribution stage will end at a big drop movement
Accumulation stage will end at a big pump movement
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when It is not going quickly as you expected.
- Be calm
- review again your risk management (Lev & size position)
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it tends to break out the gap.
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It is like last moments of Bears & early moment of Bulls.
Once alts drop to support, BTC will suddenly pump.
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The breakdown of wedge in ETHBTC chart indicates ETH should underperform BTC in next big move of market.
Big sellers are selling ETH to BTC.
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BTC above 27k means local support keeps holding well.
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My theory is CME traders don't want to BTC to go up due to the bearishness of macro context but It is also failed to push price to go lower 27k while stock & gold market is dumping hard.
So there is a room for crypto bulls at weekend.
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When CME & Wall Street are off, It is time for btc bulls
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This might cause a chaos
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Update
close #BTC
Close #SOL
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Altcoins in depression mode in these days.
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Both of circles are different situations
One is distribution
Other is accumulation
Discuss
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Btc is trying to go over the gap
=> close ETH here
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Alts are bleeding today.
BTC is still sideway & green.
Only a special coin is LINK.
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Still same situation in previous 4 days
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what I am seeing now is Alts are bleeding while BTC sideway.
Once alts drop to support, BTC will suddenly pump.
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