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Some people seem to think that ALT/ETH pairs going up means BTC.D goes down.
But what I am suggesting is that:
ALT/ETH pairs go up
BUT
ALT/BTC pairs bleed
So BTC.D goes up while ALT/ETH pairs go up.
It's possible that ETH just drops back to the 21W EMA, and during that time, ALTs don't drop as much, causing their valuation against ETH to go up (temporarily).
But after ETH/USD hits the 21W EMA, ALT/ETH pairs likely go down again.
https://t.co/3TUyHsmhKl
We talked a lot about the idea of a #BTC summer lull well in advance. Now that it has happened, what comes next?
I think what happens in Q4 2024 depends on if #BTC can get back above its bull market support band in the next few weeks, or if it holds resistance.
A thread 👇
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I dont want #Btc to pump this weekend above 18.7k because then we would get a gap to be worried about. CME gaps can be a headache for #cryptocurrency traders!
#Bitcoin CME closed at 18745 on Friday!
Green boxes are gaps unfilled above to look forward to 2022! 👌🥳
IMO 2024 halving will (again and in line with S2F) have a big (lagged or front-run) impact on #bitcoin. My prediction: BTC will be $100K-$1M in 2025 (yellow square), 5x-50x from current $19K next 3 yrs. This forecast is not accurate, but better roughly right than precisely wrong.