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DN27 | Right On Cue | A deeper correction arrives on time, as stocks break down and altcoins take a pummelling amid extreme fear across both markets.
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This is what wave 2 does. This is exactly what it is supposed to feel like. It's a shakeout, before the moon. The only question is whether you have the stomach to hang in there, when everyone else is telling you to quit.
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If you think we are still in a Bitcoin bear market, consider this. Around the time we typically see 4 year cycle lows, liquidity is usually deep in contraction, as is the ISM deep in decline. Neither is true today.
Generally speaking, 200 day, low 70s, 50% retrace of the move to 87.4k. Don't really want to see Bitcoin below here. Fully expect reversal higher soon.
At 73.6k Bitcoin stopped about 500 bucks above the 200 day sma. Feels crazy that it wouldn't test it at this point.
Everyone expecting a black Monday... Will be interesting to see which way the Asian markets lead. I don't think it will be that bad, might even bounce.
If you think we are still in a Bitcoin bear market, consider this. Around the time we typically see 4 year cycle lows, liquidity is usually deep in contraction, as is the ISM deep in decline. Neither is true today.










