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JACKIS
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Full-time Trader | Trading since 2012 | Tweets are not financial advice Private Group: @thecryptohounds Contact - Discord: JACKIS#0012
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JACKIS
01-09
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People will have a tendency to tell you that the current BTC drop was obvious & will probably find a way to justify their opinion HOWEVER Something seriously broke on 10/10th within the space and the current drop were not supposed to happen. What it was is not that important. It happened. 10/10th changed the game completely. That is where this space deviated from everything else. Even ETH & IWM (currently trading at ATHs, equivalent of ETH being at 5K more or less) We have never seen such a long deviation of the space with all other macro assets. BTC fair value, as a digital commodity, should be around 260K rn. Nonetheless, it did happen and you had to take measures when it was unfolding as an investor/trader. And that still stands until those conditions do not change. However expecting a top ahead, as much as many will want to defend that opinion cause of the outcome, was NOT the right decision at the time. DESPITE THE OUTCOME. This is crucial to understand for your longevity game. But also that as illogical as that outcome is, you have to take measurements. It is also important to keep in your mind where the fair value is sitting and a question for how long this market remains "tamed" at these current prices. And always look for a quick turnaround whenever it starts unfolding. I still personally don't view BTC as being in a bear market. Just a bearish local trend. To many just a different word. To me siginificant difference. It is not a fundamental drop. It is just a macro range that is going back to November 24. Deviation above, might get deviation below. Then you look for repricing to its fairer value. Given how long the "tame" part is taking, the repricing might be very quick, when the time comes. Be ready.
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