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Current dip, quick (DD) (ETH genesis wallets) (Bullish) (bull-run confirmed)
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Ok so i'm down to talk about any coins y'all want, but i'm going to focus on BTC & ETH for this DD.

BTC's current strongest line of support is about 60300. This line was not broken. If broken, new strongest line of support is 53k.

Eth's current strongest line line of support is about 4300. This WAS broken. New strongest line of support is 3970.

Today we have now had four big red candles on the hourly & of those four, TWO were LARGE for the relative recent past. And in my experience I have only ever seen 2-3 LARGE red candles (whale market orders) during a dip before we usually continue sideways, continue up, or run up before continuing going back down.

This is my current prediction… but this is actually super bullish. This dip was crucial to continue the run, on crypto quant we are in the beginning stages of ETH genesis wallets starting to sell rather than accumulate. So to put that into perspective to last year, genesis wallets started to sell at 17k-23k then stopped after the peak dip 5 months later from 64k-51k, then started to accumulate all summer again. The eth genesis wallets are important because most of these wallets are owned by veterans in the crypto space who saw the importance of ETH before anyone else and now there bags are huge with the biggest positions in most all mainstream cryptos. So tracking these wallets is the smartest way follow the general market.

My own bull case for crypto or (BTC) going to 100k by EOY was and has been unrealistic imo. But now, after this dip and finally starting to see genesis wallets sell. If we continue up, as i think we will, this next part of the run is usually followed by very steep upwards price movements directly after the first wave of genesis wallets start taking profits.

Thus, overall, as a quick DD, if we stay above the current strongest support line of 60300 for BTC and not break 4000 for ETH, then I will be FAR more bullish on this run than I was 3 weeks ago. And if this does play out, then the parabolic part of the bull-run is confirmed imo. PLUS Biden signed the new 1 trillion dollar infrastructure bill today... very bullish.

The only thing I see bringing us further down from these new recent lows are either unexpected global/national news, new negative global/national stock market FUD, or complete FUD targeting strictly crypto , but most realistically I think it will be from the fed announcing an acceleration in the fed taper plan. Of which I don't see happening till March 2022.

Current positions: Long on everything (no bearish positions currently) (have only taken profit on 10-15% of my bag over the past 10 weeks.

Current Trade Positions: Limit long on BTC at 60375 (no-hit), Limit long on ETH at 4344 (Hit)(Active), Limit long on EOS at 4.5 (Hit)(Active), Limit long on Atom at 29.2 (Hit)(Active), Limit long on LTC at 225 (no-hit), Limit long on AVAX at 80 (no-hit), Limit long on DOT at 39 (no-hit), Limit long on Matic at 1.5 (no-hit), Limit long on WOO at 1.49 (no-hit). There are others that I see as good trading positions - relative to coin price but, I don't have any limit orders on them. And my current swing trade positions (no leverage) that I think are good value are 1inch, sushi, SKL, MIR, and Link.

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2 years ago