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Alex Krüger 🇦🇷 @Crypto_Macro
, 4 tweets, 1 min read Read on Twitter
The probability of #Bitcoin above 8000 in the near term is considerable. And so is the probability of bitcoin breaking the year lows. Miners, exchanges and ICOs will not stop selling large volumes of crypto just because $BTC made a higher low.
Given the supply & demand landscape, the probability of bottoming without a) extreme capitulation among bitcoin longs or b) a demand shock is low.…
Bear markets do end in V-shaped reversals. Capitulations bring in large motivated buyers, which can lead to a sustained upwards feedbak loop.
For the sake of perspective, I am long at the moment. Short term charts look bullish. I found last week's bitcoin's inability to crash on bad news meaningful. I am no gloom monger. For as long as the landscape doesn't change, all positions are short-term in nature.
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