Bitcoin: Possible Drop to $62k
"It could just be a short pit stop on the way to even lower prices cuz the 200E simple moving average is still down to $62,000. And the breakdown of the channel, this bad boy here, which we've been tracking for months, the breakdown of the channel, the target for that, of course, is $62,000."
ℹ️ In shortBitcoin might be at a brief stop before further declines to $62,000, which is the target from the channel breakdown and the 200-day simple moving average level.
Predictions closed
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Full disclaimer… rse than the collapse in February, just by a tiny fraction. That's crazy, man. That's cra WHAT IS GOING ON OUT HERE, CRYPTO PEOPLE? Oh my goodness. Now, Bitcoin did come down to a very interesting level. Right here is where we bounced at. This, of course, was support back here on March 29th. Whether that ends up being relevant at all, hard to say. It could just be a short pit stop on the way to even lower prices cuz the 200E simple moving average is still down to $62,000. And the breakdown of the channel, this bad boy here, which we've been tracking for months, the breakdown of the channel, the target for that, of course, is $62,000. Now, is everybody front running this? Was that a somehow a magically relevant support level? We're going to find out. I've got a long open. I'll I'll break that down for you here in a minute. But look at the outflows yesterday. Another 519 million, another half billion dollar day, man. I think we're up to about $4.4 billion or something like that …
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