Crypto Investor, Founder Cryptobox. Defi Degen
Invest in technology that will change the world-then give them enough time and support to do their thing ๐
I AM BULISH! BUT...
Everybody is getting extremely bullish solely based on fundamentals. As always, I am here to give you a different perspective.
Let's look at some charts.
Bitcoin broke out of it's daily range.
Sorry to pop your bubble, BTC break out of the daily structure is not relevant....
Yet again, the TOTAL Crypto Market Cap did not manage to break above the daily OB.
It simply managed to complete a bearish retest.
Remember March 2024? Bitcoin made a new ATH and retrace 30% after.
But... why? Simple.
Bitcoin rallied mostly because of the US BTC ETF inflows and decently decorrelated from the market.
Nothing shows this better than the TOTAL Market Cap.
In march, while BTC made new ATHs, the TOTAL Market Cap could not create a new high.
Rather, it retraced to the weekly ob and rejected hard.
Now, scroll back to the first 2 charts and try to spot the difference.
Similar, right?
So, Fefe, are we going back to new lows?
I do not believe we are. In fact I believe the next 6 months we are going to experience unbelievable gains. Pumps we could not have imagined.
But, longing here does not makes sense, especially not 6 days before the most important US election thus far.
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Much love.
Slowly, then all at once @cryptomanran
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