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Ethereum is showing strength against BTC on threshold ETF in 10 days.
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Update:
#BTC already broke down MA128
#WIF on freefall mode
#DOGE #SHIBA retesting after breakdown
A daily closing above or below one of both will decide next big move.
65k8 or 64k8
2 triangles with 100 days consolidation
Breakout this => They will print 30% move.
#BTC #ETH
happy time was short-span but the pain is long-lasting till death.
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The only relief bulls at the moment is ETHereum narrative.
The rest is bearish sideway.
There were 2 events at 6th June 2024, which printed a macro turning point.
The moment you think your Dollar or USDT is worthless, it 's a reversal point.
the breakdown of Descending triangles #SHIBA #WIF #DOGE is a leading indicator for BTC to breakdown MA128 imo.
Max bounce is 66k.
Ethereum party could not help.
Bluechip #BTC #SOL #ETH are showing where market is going.
If losing MA128 => Bulls are over and pending until Q4.
MA128 was the place that uptrend has started since Oct 2023
If MA128 could not hold => We are at May2021
If MA128 keeps holding => We are at Summer 2020
The German government has reportedly begun selling its Bitcoin holdings, transferring Bitcoin to exchanges over the past two days. They still have over $3 billion worth of Bitcoin to liquidate
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He always bought at the end of consolidation.
A big move is coming.
#BTC
Daily is still above MA128 (64k8)
However the downtrend channel is forming in 4hourly.
many newly listing projects had one time of bullrun before a forever bearrun till death (delisted).
Few of newly listing projects had two times of bullrun before a forever bear market till death (Delisted)
BTC not ready for a big move because the show of ETH & ETH beta have not finished.
ETH will start dropping at the first day ETF starts trading at 2rd July.
about 10 days to chase ETH party while BTC+Others remains sideway bearish.
If losing MA128, how much lower does btc can go ?
40%
45%
26%
37%
???
#Bitcoin has shown a strong correlation with the S&P500, but this week, that link broke. While the S&P500 hit new all-time highs, $BTC experienced a steep correction.
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MA128 are still holding for #ETH #BTC
Expecting for a relieve bounce for ETH ETF hype.