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CRYPTO MECHANIC
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All of my friends are saying $BTC top is in. Should i believe in them?
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ETH/BTC pair is up almost 60% since I shared it. I still think thereâs more upside left. The chart is a bit extended right now, so a pullback or some sideways movement for a few days shouldnât come as a surprise in my opinion.
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Have you ever noticed that people become overexcited around the key highs and too scared around the key lows? And this is usually the turning point of the market.
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In my previous post, I mentioned that taking some profits on Ethereum wouldnât be a bad idea as it approaches its previous all-time high. A rejection from this zone shouldnât come as a surprise. When too many people become overly comfortable in one direction, the market usually does the opposite. A lot of traders were extremely excited and heavily leveraged long, assuming $ETH is about to break its ATH. Sharp pullbacks are often triggered by long liquidations. That said, Ethereum is still bullish overall. Dips are opportunities, Plan your entries.
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$BTC Still at the important zone and you should pray that it holds.
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