N4G
--
Bearish
Okey, Here is my take on the market the upcoming 72 hours:
We all had been hyped on #BTC Pumping non-stop, but you know what! I hate to be the one bring this to you, it's ending soon.
Let me take you on some of the reasons why i think 29 Feb 2024 will be a very very Bloody and Ugly day for the market if not one of the worst days during the whole year of 2024.
1st Reason "BTC Dominance"
BTC.D chart is Reaching a critical level @ the 54% dominance of total market value. This squeezes Altcoins and BTC can't keep eating up all the new money being pumped into the market.
2nd: "Pump pump pumP"
Yes, pumping too much is a reason to be afraid of a possible Major correction ahead, Why? Because just like yourself, if you climb the stairs of Burj Khalifa, How many floors will it take you before crashing down on your knees?
BTC had been pumping with a staggering 36% increase in Feb, that's a lot!
No i really mean it, it's a lot.
3rd: "Unlocked Alts"
Lots of Altcoins unlocking on 29 Feb -Read my recently published post regarding Unlocked Altcoins-, this suggests a moderate to huge selling force coming that day.
4th: "News"
Some recent bad news surfacing (such as: Bitfinex exchange suspending withdraws, XRP new law suit.. etc) Market sentiment to invest is declining.
5: "Profit taking"
Yes, you keep asking your mentor "What is TP? what is TP, sir?" Well, here is your answer.
Big whales are hungry and will start eating their lunch.
6:
BTC volume declining notably, suggesting a move is near.
7:
1st of March will be a Friday.
"remember the scary movie Friday the 13th?
well this is Friday the 1st of march"
8:
what comes up must eventually comes down.
9:
Bitcoin reaching a Major resistance @ 58,000
10:
USDX "Index measuring the strength of the dollar against 5 foreign currencies" closed the daily time frame with a doji candle suggesting a rise in interest in the coming few days on the dollar, and as you may know the rule =
Dollar moves up, BTC moves down.
Final and last "11th": "Rate cuts"
First rate decrease will most likely occur @ the end of July.
#N4G
#TrendingTopic
We all had been hyped on #BTC Pumping non-stop, but you know what! I hate to be the one bring this to you, it's ending soon.
Let me take you on some of the reasons why i think 29 Feb 2024 will be a very very Bloody and Ugly day for the market if not one of the worst days during the whole year of 2024.
1st Reason "BTC Dominance"
BTC.D chart is Reaching a critical level @ the 54% dominance of total market value. This squeezes Altcoins and BTC can't keep eating up all the new money being pumped into the market.
2nd: "Pump pump pumP"
Yes, pumping too much is a reason to be afraid of a possible Major correction ahead, Why? Because just like yourself, if you climb the stairs of Burj Khalifa, How many floors will it take you before crashing down on your knees?
BTC had been pumping with a staggering 36% increase in Feb, that's a lot!
No i really mean it, it's a lot.
3rd: "Unlocked Alts"
Lots of Altcoins unlocking on 29 Feb -Read my recently published post regarding Unlocked Altcoins-, this suggests a moderate to huge selling force coming that day.
4th: "News"
Some recent bad news surfacing (such as: Bitfinex exchange suspending withdraws, XRP new law suit.. etc) Market sentiment to invest is declining.
5: "Profit taking"
Yes, you keep asking your mentor "What is TP? what is TP, sir?" Well, here is your answer.
Big whales are hungry and will start eating their lunch.
6:
BTC volume declining notably, suggesting a move is near.
7:
1st of March will be a Friday.
"remember the scary movie Friday the 13th?
well this is Friday the 1st of march"
8:
what comes up must eventually comes down.
9:
Bitcoin reaching a Major resistance @ 58,000
10:
USDX "Index measuring the strength of the dollar against 5 foreign currencies" closed the daily time frame with a doji candle suggesting a rise in interest in the coming few days on the dollar, and as you may know the rule =
Dollar moves up, BTC moves down.
Final and last "11th": "Rate cuts"
First rate decrease will most likely occur @ the end of July.
#N4G
#TrendingTopic
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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