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This channel is for my own personal thoughts only. Not financial advice. I take no responsibility for anyone's losses or gains. This channel will be forever free and I take no donations. Thank you. https://twitter.com/lordmoonbags
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1 412
My preliminary thesis going forward is chop around the wick low area for over a month at least
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Disregarding alts, this is what the past few weeks have felt like to me for BTC
Reminded me so much of the June 2023 candle except the final resolution of it was immediate rather than delayed like back in 2023
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There are months where nothing happens and there are seconds where months happen
Today is one of those days where the latter is the case
All the anxieties and fears that were festering in the background expressed into reality in one massive implosion
We have seen this shit before, and it will happen again.
It is a cautionary tale that extreme risk taking should only be done in small sizes because it can happen at any time no matter how well it is planned for
Hope that you are safe, probably best off avoiding the market now for a little while as things digest the events of this day
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Repost from infinityhedge
ONE OF THE LARGEST LIQUIDATION EVENT
$10 BILLION LIQUIDATED IN CRYPTO POSTIONS
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The market will discard what it deems worthless and reward the faithful of the chosen
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Market kind of showing it's hand now
It's exceedingly likely now we are gonna go into a chopping bleed until Q4
The good news is, the weekly downtrend is about half way over on average
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Goodalexander post, must watch
I know he has a habit of deleting every post so here is the video
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For those that still follow, the daily BTC indicator is close to a bottom, in deep correction territory now, a few good days likely confirms the bottom, can happen this week tbh
I think this will likely be the final move up before a deeper correction. By move up, I don't mean new ATHs, maybe just a small recovery, maybe fill the CME gap at 117245, who knows
Blood moon will occur on September 7th, often black swan events occur at around these times, either before or after. For example, "liberation day" happened a few weeks after blood moon in April, but it was mostly front ran during the blood moon period. I'm not gonna sit here and postulate on black swans coming but I do know that ancient whales follow blood moons and will manufacture moves and sell at around these times because it has become custom.
after this final pump, I think the weekly downtrend probably takes us somewhere to Q4 2025, if it follows it's normal schedule, which should then be followed by an uptrend which should take us to our final blood moon in this blood moon cycle in March 2026, which is expected to be the beginning of the golden bull run
disclaimer: I have stopped following these daily and weekly indicator calls closely for a while now and no longer trade based upon them myself. I do it just for fun, do not take this as financial advice, you will get rekt if you follow it. There is no way to predict financial markets.
